Novo Nordisk shares extend losses, down 2.5% after profit warning

Novo Nordisk shares connected the Copenhagen speech are continuing their descent by falling 2.5% aft the Danish pharmaceutical elephantine slashed its full-year guidance earlier successful the week.

The banal closed down 23% connected Tuesday. Read the afloat communicative here.

Spanish elephantine Banco Santander's retail absorption has shielded it from the brunt of the marketplace interaction waged by U.S. tariffs, the bank's main fiscal serviceman told CNBC's "Squawk Box Europe" soon aft the lender posted grounds second-quarter profit.

 "70% of Santander is retail and commercial. This is [small and medium-sized enterprises], individuals, backstage banking… these segments are not precise overmuch affected by these macro conditions. We've seen immoderate anecdotal evidence, immoderate companies person postponed concern decisions," CFO Jose Garcia Cantera said Wednesday. "The spot of Santander is that we are a retail commercialized bank, highly diversified."

He nevertheless noted that the European Union's long-awaited and precocious struck commercialized woody with Washington would effect successful a "positive" for determination markets, arsenic it "eliminates months of uncertainty."

Addressing the broader macro-economic landscape, Cantera said Santander expects different involvement complaint chopped from the European Central slope toward the extremity of the twelvemonth and 2 further trims from the U.S. Federal Reserve wrong six months, "probably the archetypal successful September, and the 2nd 1 betwixt the extremity of the twelvemonth [and] the opening of adjacent year."

— Ruxandra Iordache

Luxury carmaker Porsche has said that ongoing macroeconomic and geopolitical challenges person led to a crisp driblet successful nett and income for the archetypal six months of the year.

"We proceed to look important challenges astir the world. And this is not a tempest that volition pass," said Oliver Blume, CEO of Porsche. "The satellite is changing dramatically – and, supra all, otherwise to what was expected conscionable a fewer years ago. Some of the strategical decisions made backmost past look successful a antithetic airy today."

Blume is besides the main enforcement of Volkswagen.

Porsche reported a 67% driblet successful operating nett to 1 cardinal euros ($1.17 billion), portion income fell by 6.7% to 18.2 cardinal euros, marginally beating expectations.

— Ganesh Rao

Europe's largest lender HSBC connected Wednesday missed second-quarter nett expectations, mostly connected relationship of impairment charges, according to the bank. The slope besides announced a stock buyback of $3 billion.

It reported nett earlier taxation for the 3 months ended June of $6.3 billion, down 29% from a twelvemonth ago.

Here are HSBC's second-quarter 2025 results compared with statement estimates compiled by the bank.

• Profit earlier tax: $6.3 cardinal vs. $6.99 billion
• Revenue: $16.5 cardinal vs. $16.67 billion

Operating expenses roseate by 10% compared to the aforesaid play a twelvemonth ago, and were mostly owed to restructuring and different related costs arsenic good arsenic from accrued spending and concern successful technology, the slope said.

Read the afloat communicative here.

—Lee Ying Shan

Luxury behemoth Hermès connected Wednesday posted second-quarter income successful enactment with expectations

Sales roseate 9% year-on-year astatine changeless speech rates successful the 3 period play to 3.91 cardinal euros ($4.51 million), matching expert forecasts.

Growth was recorded crossed each regions and marks an uptick from the archetypal quarter's 7% yearly growth.

Executive Chairman Axel Dumas said the results reflected "the spot of the Hermès model."

It comes arsenic the broader luxury assemblage has struggled to look from a post-Covid-19 slump — a headwind exacerbated further this twelvemonth by the imaginable of U.S. tariffs.

— Karen Gilchrist

Gucci-owner Kering posted worse-than-feared second-quarter results and flagged ongoing geopolitical uncertainty arsenic woes persist astatine the beleaguered luxury group.

Sales dropped 15% year-on-year connected a comparable ground to 3.7 cardinal euros ($4.27 billion), the institution said posting results aft the marketplace adjacent Tuesday. That compares to the 3.96 cardinal euros forecast by LSEG analysts.

Gucci sales, which typically marque up astir fractional of full radical revenues, plunged 25% implicit the 4th to 1.46 cardinal euros.

"Though the numbers we are reporting stay good beneath our potential, we are definite that our broad efforts of the past 2 years person acceptable steadfast foundations for the adjacent stages successful Kering's development," Chairman and CEO François-Henri Pinault said successful a connection accompanying the results.

— Karen Gilchrist

Germany's BASF, 1 of the largest chemic producers, said "indirect effects" of U.S. tariffs connected imports has had an interaction connected request and nett margins.

"The volatility of the tariff announcements and the unpredictability of different decisions by the United States authorities arsenic good arsenic imaginable countermeasures by trading partners are causing a precocious level of uncertainty," the institution said successful a connection connected its second-quarter results.

BASF added that "there are indirect effects, peculiarly associated with request for our products and their prices. This is chiefly owed to intensified competitory unit and rising inflation. It is inactive not imaginable to afloat measure the resulting effects."

The chemicals giant's second-quarter income amounted to 15.8 cardinal euros ($18.2 billion), a diminution of 2% from the aforesaid play past year.

The institution besides reported a 9.4% diminution year-on-year successful adjusted nett to 1.8 cardinal euros for the 2nd quarter.

— Ganesh Rao

L'Oreal missed second-quarter income forecasts, posting a 2.4% increase, arsenic maturation successful Europe slowed much than expected. 

The cosmetics radical saw a tiny rebound successful the U.S. and China, which helped to offset weakness successful different regions.

However, the institution said it volition propulsion for exemptions from U.S. tariffs, informing the EU-U.S. commercialized woody would beryllium costly, according to Reuters.

— Domi Suskova

Siemens Healthineers has topped gross forecasts for the 3rd quarter, posting 7.6% maturation to 5.7 cardinal euros ($6.6 billion) twelvemonth connected year.

The German aesculapian exertion radical raised the midpoints of its outlook, adjacent arsenic CEO Bernd Montag warned that geopolitical volatility remains high.

— Michael Considine

Santander posted a grounds nett net successful the 2nd quarter, coming successful astatine 3.4 cardinal euros ($3.9 billion) and topping expectations. The Spanish lender besides unveiled a 1.7 cardinal euro stock buyback programme arsenic it reiterated its afloat twelvemonth outlook.

— Michael Considine

Good greeting from London.

There's conscionable nether an hr and a fractional to spell until stocks statesman trading, with the futures tied to the Stoxx Europe 600 scale pointing to a summation of 0.2% erstwhile banal markets open.

Regionally, the U.K.'s FTSE 100 and Germany's DAX are expected to emergence 0.2% arsenic well. Meanwhile, France CAC 40 scale is acceptable to beryllium astir flat, according to FactSet data.

European companies including Santander, BASF, UBS, HSBC, Siemens Healthineers, Mercedes-Benz, L'Oreal and Kering person reported earnings.

— Ganesh Rao