Shares in LVMH are set to decline after the luxury conglomerate's core fashion and leather goods division reported second-quarter sales that fell short of analyst expectations, raising concerns about the sector's recovery.
The Dutch healthcare technology company reported a 1% decline in comparable Q2 order intake, citing timing issues with large U.S. contracts and market disruption in China, which overshadowed a raised full-year margin outlook.
The UK-based medical device maker announced first-half revenue of £3.2 million, driven by strong product adoption, while simultaneously cutting operating costs by 15% and maintaining its full-year outlook.
London's blue-chip index recovered from an early dip driven by a global technology sector sell-off, supported by strong corporate earnings from major constituents including Barclays and Unilever.
The pan-European STOXX 600 index held steady as positive earnings from consumer giants like Unilever and LVMH counteracted a selloff in technology stocks, led by chip equipment maker ASML.
The automaker is divesting its mobility services division to German investment firm Mutares in a strategic move to streamline operations and concentrate on vehicle production.
Shares in the audiobook streaming service surged after the company reported second-quarter results that surpassed analyst expectations and raised its full-year earnings forecast.
The German software company's stock dropped after its H1 report showed a 3% fall in annual recurring revenue and a 7% decline in its customer base, overshadowing a 23% rise in net profit.
Mercedes-Benz reported better-than-expected second-quarter profitability and maintained a key margin target, sending its stock higher despite a cut to its full-year revenue guidance.
