Trump and Putin meet, Pandora earnings, US data
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After three consecutive days of gains, the pan-European Stoxx 50 looks set to rise again today, with futures tied to the index last seen trading 0.6% higher.
Those tied to the German DAX, France’s CAC 40 and London’s FTSE 100 are also all up by around 0.6%.
Market participants will be watching news out of the highly anticipated meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin, with hopes building that a resolution on the war in Ukraine can be reached.
— Chloe Taylor
Pandora maintains full-year outlook even as China lags
A woman stands inside a store of Danish international jewellery company Pandora in Copenhagen, Denmark.
Ida Marie Odgaard | Afp | Getty Images
Danish jewelry brand Pandora on Friday posted a slightly weaker-than-expected rise in second-quarter sales and maintained its full-year outlook despite flagging continued weakness in China.
Revenues rose 8% on an organic basis to 7.08 billion Danish kroner ($1.10 billion) in the three-month period, just shy of the 7.12 billion Danish kroner forecast by LSEG analysts.
China recorded the largest decline in organic sales, down 15%, while the U.S. accelerated 12%. Pandora said performance in China “continues to be challenged” and announced an anticipated doubling of store closures in the country to 100 this year.
The company nevertheless reiterated its full-year forecast for organic sales growth of 7% to 8% and an operating profit margin of at least 24%, including the impact of U.S. tariffs.
— Karen Gilchrist