- DE30 drops during Tuesday's session
- Final election results in Poland
- Rolls Royce announces job cuts
General market situation:
Tuesday's session on European markets brings a deterioration in the sentiment observed on exchanges from the Old Continent. Investors' attention is once again focused on Poland, where we learned the final results of the parliamentary elections. Investors will learn today about inflation data in Canada, retail sales and industrial production in the US.
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At the moment, most companies listed in Europe during Tuesday's trading session are trading down. Source: xStation 5
Futures based on the German DE30 are trading nearly 0.61% lower on an intraday basis and are heading towards yesterday's session's minima. Source: xStation 5
News:
Rolls-Royce (RR.UK) said Tuesday that it will cut up to 2,500 jobs (6%) as its new CEO seeks to build a more efficient business. The company has long lagged behind the margins of General Electric (GE.US), its main competitor in the wide-body aircraft sector. It is worth remembering, however, that the plans themselves seem bold, in view of the timing of the announcement of the cuts, for there is now a good market for new aircraft, and competitors have increased internal staffing levels.
Source: xStation 5
Ericsson (ERICB.SE) said Tuesday that it expects uncertainty affecting its mobile network business to persist through 2024, after reporting a drop in revenue in the third quarter as demand for 5G equipment declined in North America. The company's shares are losing nearly 7.8% today.
Source: xStation 5
Nordic Semiconductor (NOD.NO) shares are down nearly 15% after releasing quarterly results that fell short of investors' expectations.
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