European shares open greater
It is 19 minutes after the opening bell, and the pan-European Stoxx 600 is buying and selling up 0.2%.
Sectors are in blended territory, with regional utilities shares main positive factors. London’s FTSE 100 is presently 0.2% greater, whereas the French CAC 40 has gained 0.1% and the DAX is little modified.
— Chloe Taylor
Vodafone posts 411 million euro loss in 2025, warns commerce ‘uncertainties’ may have an effect on earnings
A Vodafone retailer in central London on Could 16, 2023.
Adrian Dennis | AFP | Getty Pictures
Telecom big Vodafone reported a full-year working lack of 411 million euros ($462.7 million) on Tuesday, citing impairment costs for Germany and Romania that got here to 4.5 billion euros.
That got here as the corporate reported a 2% bounce in full-year income, with whole income coming in at 37.4 billion euros.
Analysts had been anticipating whole revenues of 38.1 billion euros, based on LSEG knowledge.
Shares of Vodafone have been 0.3% greater at 8:22 a.m. in London, paring losses seen instantly after the opening bell.
Waiting for 2026, Vodafone famous that its monetary efficiency might be affected by “vital uncertainties” within the present macroeconomic local weather, notably regarding commerce and international change charges.
The corporate expects adjusted EBITDAaL (earnings earlier than curiosity, taxes, depreciation and amortization and after lease bills) to fall within the vary of 11 billion euros to 13 billion euros. In full-year 2025, Vodafone’s adjusted EBITDAaL got here in at 11 billion euros, according to its steerage.
— Chloe Taylor
Greggs plans new shops as ‘product innovation’ drives gross sales progress
A vegan sausage roll from a Greggs outlet in London in 2019.
Bloomberg | Bloomberg | Getty Pictures
British bakery chain Greggs reported a 7.4% year-on-year bounce in gross sales for the 20 weeks to Could 17, with whole gross sales for the interval coming in at £784 million ($1.05 billion).
Like-for-like gross sales in company-managed shops have been up by 2.9%, the agency added in its Tuesday buying and selling replace.
Greggs cited “product innovation” as a driver of the gross sales progress, noting that its over-ice drinks vary and scorching meals choices have been performing effectively.
Over the reporting interval, Greggs mentioned it had opened a internet 20 shops, bringing the entire quantity as much as 2,638. It mentioned it anticipated internet openings for the total 12 months to be between 140 and 150 retailers.
In a be aware to purchasers on Tuesday morning, Investec analyst Kate Calvert gave Greggs a “purchase” score and a goal value of two,670 pence. The inventory closed at 1,999 pence on Monday.
“The shares commerce on a ahead PE of 14.5x, near the underside of its final 10 years’ PE ahead valuation vary, which doesn’t replicate its progress alternative or bettering money era,” she mentioned.
— Chloe Taylor
Swiss Life first-quarter earnings jumps
Insurer Swiss Life mentioned in a buying and selling replace on Tuesday that its payment earnings rose 3% 12 months on 12 months within the first quarter of 2025, reaching 659 million Swiss francs ($791 million).
Its premiums additionally rose by 6% from the earlier 12 months to 7.9 billion Swiss francs.
The corporate mentioned its rising payment earnings was primarily as a result of sturdy efficiency throughout its personal and third-party services and products, in addition to the power of its Swiss Life Asset Managers division.
— Chloe Taylor
British pound extends positive factors
The British pound was 0.2% greater towards the U.S. greenback at 6:29 a.m. in London on Tuesday, extending its positive factors from yesterday to commerce at round $1.338.
On Monday, sterling rose 0.6% towards the dollar after the U.Ok. and the EU reached a landmark settlement to reset their post-Brexit relations.
What to maintain an eye fixed out for at this time
British telecom big Vodafone Group is predicted to report its 2025 monetary 12 months outcomes.
Analysts polled by FactSet count on full-year whole gross sales to be £31.74 billion ($42.39 billion), with a pre-tax revenue of £1.84 billion. Earnings per share is predicted at 7.10 pence.
UBS analysts count on the merger with U.Ok. competitor Three will add £470 million to adjusted earnings, however will detract from free money movement as the corporate can be compelled to take a position upfront.
“Whereas easing declines in German service revenues ought to be a tailwind for the shares, the prospect of additional [free cash flow] downgrades will doubtless weigh on the inventory near-term,” UBS analyst Polo Tang added in an earnings preview be aware to purchasers on Could 12.
The inventory presently trades at almost 5.3% anticipated dividend yield. Analysts forecast a dividend of three.78 pence per share, based on FactSet.
U.Ok. baker Greggs and Swiss Life are additionally set to report earnings on Tuesday.
— Ganesh Rao
Listed here are the opening calls
Listed here are Tuesday’s opening calls.
European bourses are anticipated to open greater Tuesday, with London’s FTSE anticipated to open up 43 factors at 8,726, Germany’s DAX up 92 factors at 23,998, the French CAC 40 up 41 factors at 7,908 and Italy’s FTSE MIB up 92 factors at 40,330, based on knowledge from IG.
— Holly Ellyatt
