Analysts at the investment bank said the London-listed stock had reached a “fairer” valuation after rising more than 30% this year, before the move lower by 5.5% on Monday as investors locked in the profits.<\/p>\n
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The RBC analysts pointed out that the stock was previously stuck in a downtrend in 2023 over its faltering and overleveraged business in the Nordics. But a turnaround plan, marked by the sale of a Greek subsidiary for 200 million euros ($235 million) in 2024 and a focus on profitable major markets like the U.K., attracted investors’ attention, sending the shares higher.<\/p>\n
With shares trading at \u00a31.24 as of Friday ($1.7) \u2014 an increase of about 180% from the lows of October 2023 \u2014 RBC downgraded Currys to “Sector Perform”, adding that the stock had reached a more “reasonable” valuation.<\/p>\n
“Currys has a strong relative market position, some further self-help opportunities and is building what it calls more ‘stabilisers’ into the business, to reduce its macro and seasonal risk. This includes adding new products and more recurring revenues,” said RBC analyst Richard Chamberlain in a note to clients. “However, the discretionary nature of its assortment and its relatively low operating margins mean that its earnings outlook will remain sensitive to the macro.”<\/p>\n
The company’s board also rebuffed attempts by activist investor Elliot Management to take over the firm for \u00a30.67 ($0.84) per share in February 2024.<\/p>\n
\u2014 Ganesh Rao<\/p>\n
Daimler Truck’s North America sales fall 20%<\/p>\n
Daimler Truck<\/a> reported a 20% drop in its North American business for the second quarter from last year, a trend that’s continued since early 2025.<\/p>\n The company said it recorded 13% growth in its Asia business, excluding China and India, and 5% growth in buses sold worldwide. In India and China, where it operates under the Mercedes-Benz Trucks brand, second-quarter sales fell by 0.5% from last year.<\/p>\n Shares have had a muted reaction and were up 0.6% at 10.50 a.m. in London.<\/p>\n The United States is the largest market by sales for Daimler Truck, with 38% of global sales, ahead of revenues of 11.3% from Germany, according to FactSet.<\/p>\n \u2014 Ganesh Rao<\/p>\n Oil and gas stocks falter<\/p>\n European markets have been open for almost an hour now, and oil and gas stocks are still leading regional losses.<\/p>\n The Stoxx Oil and Gas index was last seen trading 1.3% lower. Oil prices fell after the OPEC+ alliance agreed to a bigger-than-expected production increase<\/a>. \u00a0<\/p>\n \u2014 Chloe Taylor<\/p>\n Capgemini shares fall<\/p>\n Shares of French tech firm Capgemini<\/a> have tumbled to the bottom of the regional Stoxx 600 index, shedding 2.7% by 8:45 a.m. in London.<\/p>\n The drop is taking place after the company said it would acquire<\/a> U.S.-listed WNS<\/a> in a $3.3 billion cash deal.<\/p>\n \u2014 Chloe Taylor<\/p>\n Shell lowers second-quarter gas output guidance, warns of weaker trading results<\/p>\n Energy major Shell on Monday lowered its production guidance for its integrated gas division across the second quarter and warned of weaker results from its gas and chemicals trading units.<\/p>\n In a trading update<\/a> released ahead of its second-quarter financial results, the firm said it now expects integrated gas output to be in a range of 900,000 to 940,000 barrels of oil equivalent per day (boe\/d), compared with a 890,000 to 950,000 boe\/d guidance for the period issued during the company’s first-quarter results outlook<\/a>.<\/p>\n The world’s largest trader of liquified natural gas anticipates second-quarter LNG volumes to come in between 6.4 million and 6.8 million metric tons, also below a previous estimate of\u00a06.3 million to 6.9 million metric tons.<\/p>\n A Shell logo in Austin, Texas on May 3, 2024.<\/p>\n Brandon Bell | Getty Images<\/p>\n Shell warned of “significantly lower” trading results in the second quarter, compared with the previous three-month period, for both its integrated gas division and its chemicals and products unit, where it anticipates to be “below break-even” over the period.<\/p>\n “We see the release as weak; the weaker trading performance was likely expected, however the trading update points to a significantly worse performance in the downstream than anticipated,” RBC Capital Markets analysts said in a note. “Shell has issued successive positive trading updates over the last couple of years, and it looks like the positive streak has been broken.”<\/p>\n Shell shares were down 2.18% at 08:13 a.m. London time after the release.<\/p>\n \u2014 Ruxandra Iordache<\/p>\n European shares open mixed<\/p>\n We’re 10 minutes into the first trading session of the week, and European stocks are trading in mixed territory.<\/p>\n The pan-European Stoxx 600<\/a> was last seen hovering just below the flatline, with no consensus movement among regional sectors.<\/p>\n Major bourses are also moving in opposite directions, with London’s FTSE 100<\/a> down 0.1%, the French CAC 40<\/a> little changed, and Germany’s DAX<\/a> gaining 0.4%.<\/p>\n \u2014 Chloe Taylor<\/p>\n Capgemini to buy WNS in $3.3 billion deal<\/p>\n French tech firm Capgemini announced on Monday that it will buy U.S.-listed WNS in a $3.3 billion cash deal.<\/p>\n That translates to $76.50 per share in the technology outsourcing firm \u2014 a 17% premium on its July 3 closing price.<\/p>\n Capgemini is aiming to capitalize on WNS’ generative and agentic artificial intelligence offerings, which it said would attract significant investments.<\/p>\n \u2014 Emilia Hardie<\/p>\n Octopus Energy reportedly plans Kraken demerger<\/p>\n The U.K.’s largest residential gas and electricity supplier, Octopus Energy, is planning a \u00a310 billion ($13.6 billion) demerger of its technology arm Kraken, Britain’s Sky News reported<\/a> over the weekend.\u00a0<\/p>\n The demerger is reportedly expected to take place within the next 12 months.<\/p>\n \u2014 James Tillotson<\/p>\n China retaliates against EU ban with import restrictions on medical devices<\/p>\n China’s Finance Ministry said on Sunday that it was restricting government purchases of medical devices from the EU if they exceeded 45 million yuan ($6.3 million). It’s a retaliation against the bloc saying last month it would ban Chinese firms from competing for EU public tenders for medical devices worth more than 60 billion euros ($70 billion) a year.<\/p>\n Read more here.<\/a><\/p>\n \u2014 Chloe Taylor<\/p>\n European stocks poised for mixed open<\/p>\n London Bridge on March 12, 2024.<\/p>\n Lucy North – Pa Images | Pa Images | Getty Images<\/p>\n Good morning from a very gray London.<\/p>\n Europe-listed shares look set for a mixed open today. Futures tied to the regional Stoxx 50 were last seen trading 0.1% higher, while those tied to London’s FTSE 100 and the German DAX were last 0.2% lower and 0.2% higher, respectively.<\/p>\n Futures tied to France’s CAC 40 are around 0.3% lower this morning.<\/p>\n \u2014 Chloe Taylor<\/p>\n Trump threatens extra 10% tariff on countries that align with \u2018Anti-American\u2019 BRICS policies<\/p>\n U.S. President Donald Trump gestures, on the day he is expected to sign a sweeping spending and tax legislation, known as the “One Big Beautiful Bill Act,” at the White House in Washington, D.C., U.S., July 4, 2025. <\/p>\n Ken Cedeno | Reuters<\/p>\n U.S. President\u00a0Donald Trump<\/a>\u00a0has threatened an additional 10% tariff on countries that orient themselves along the “Anti-American policies of\u00a0BRICS<\/a>.”<\/p>\n Trump’s announcement, which did not elaborate on any specific policy of BRICS, came as the group’s meeting is underway in Rio de Janeiro, Brazil.<\/p>\n The bloc’s leaders took aim at Trump’s sweeping tariff policies in\u00a0a joint statement dated July 6<\/a>, warning against “unjustified unilateral protectionist measures, including the indiscriminate increase of reciprocal tariffs.”<\/p>\n![\"Made](\"https:\/\/public.flourish.studio\/resources\/made_with_flourish.svg\")
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