European Stocks Mostly Lower in Tuesday Trading; UK Regulator Seeks Views on Apple, Google Competition Commitments

MT Newswires Live
5 hours ago

The European stock markets are set to close little changed, but mostly lower in Tuesday trading as The Stoxx Europe was off 0.1%, Germany's DAX declined 0.1%, the FTSE 100 was down 0.3%, France's CAC gained 0.2%, and the Swiss Market Index was off 0.1%.

The UK's Competition and Markets Authority said Tuesday that it is requesting views on commitments from Apple and Google that are intended to improve "certainty, transparency, and fairness for thousands of UK businesses dependent on app stores to serve their customers."

The CMA said the commitments are intended to ensure that reviews and rankings of apps to be distributed in Google and Apple app stores are made "in a fair, objective and transparent way and do not discriminate against apps which compete with their own."

In France, the unemployment rate rose 0.2 points in Q4, bringing the annual increase to 0.9 points to 7.9%, according to the Institute for Statistics and Economic Studies.

And in corporate news, Sanofi said Tuesday it has completed the acquisition of Dynavax Technologies in a transaction valued at $2.2 billion.

The tender offer under which Sanofi agreed to acquire all Dynavax shares for $15.50 per share in cash expired on Monday, the company said.

Dynavax becomes a subsidiary of Sanofi and its shares will cease trading on the Nasdaq Global Select Market as of Tuesday, Sanofi said.

Shares of the French pharmaceutical company were up 2.3% in Paris.

BP reported Q4 underlying replacement cost profit Tuesday of $0.60 per American depositary share, up from $0.44 a year earlier.

Sales and other operating revenue for the quarter ended Dec. 31 totaled $47.38 billion, up from $45.75 billion a year earlier.

Analysts surveyed by FactSet expected $42.45 billion.

The British oil and gas giant said it expects divestment and other proceeds to be $9 billion to $10 billion in 2026, and that it is suspending a share buyback program.

Shares of BP dropped 7% in London.

Ferrari reported Q4 adjusted earnings Tuesday of 2.14 euros ($2.55) per diluted share, unchanged from a year earlier. Analysts polled by FactSet expected 2.10 euros.

Net revenue for the quarter ended Dec. 31 was 1.80 billion euros, compared with $1.74 billion euros a year earlier. Analysts polled by FactSet expected 1.77 billion euros.

The company said it expects 2026 adjusted earnings of at least 9.45 euros per share and about 7.50 billion euros in net revenue. Analysts polled by FactSet expect 9.48 euros in adjusted EPS on revenue of 7.51 billion euros.

Shares of the Italian sportscar maker rose 10% in Milan.

GSK said Tuesday that China's Center for Drug Evaluation has accepted for review its regulatory application for Arexvy, a vaccine designed to prevent lower respiratory tract disease caused by respiratory syncytial virus in adults aged 60 and older.

If approved, Arexvy would become the first RSV vaccine available for this age group in China, the company said, adding that a regulatory decision is expected in 2027.

Shares of the British pharmaceutical company were unchanged in London.

STMicroelectronics said Tuesday that it has launched its Stellar P3E automotive microcontroller, which features built-in artificial intelligence acceleration.

The company said the microcontroller is designed to enable "real-time AI applications" for "future software-defined vehicles."

Stellar P3E is slated for production in Q4, STMicroelectronics added.

Shares of the French semiconductor company gained 2.6 % in Paris.

Barclays reported Q4 basic earnings Tuesday of 0.086 British pounds ($0.12) per ordinary share, up from 0.067 pounds a year earlier.

Total income for the quarter ended Dec. 31 was 7.08 billion pounds, up from 6.96 billion pounds a year earlier. Analysts polled by FactSet expected 6.94 billion pounds.

Shares of the British bank were down 2% in London.

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