{"id":66955,"date":"2025-07-16T10:24:13","date_gmt":"2025-07-16T10:24:13","guid":{"rendered":"https:\/\/www.europesays.com\/us\/66955\/"},"modified":"2025-07-16T10:24:13","modified_gmt":"2025-07-16T10:24:13","slug":"stoxx-600-dax-ftse-uk-inflation","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/66955\/","title":{"rendered":"Stoxx 600, DAX, FTSE, UK inflation"},"content":{"rendered":"

Cartier-owner Richemont’s first-quarter sales beat as jewelry shines<\/p>\n

Shoppers walk past the Fifth Avenue entrance to the Cartier Building in Midtown Manhattan, New York City. <\/p>\n

Robert Alexander | Archive Photos | Getty Images<\/p>\n

Cartier owner\u00a0Richemont<\/a>\u00a0on Wednesday posted better-than-expected quarterly sales as its jewelry division continues to shine amid a wider luxury downturn.<\/p>\n

Revenues at the Swiss luxury group rose 6% year-on-year at constant exchange rates to 5.41 billion euros ($6.28 billion) in its fiscal first quarter to the end of June, slightly ahead of the 5.37 billion euros forecast by analysts in an LSEG poll.<\/p>\n

The uptick was led by double-digit growth in all regions except Asia, which saw a notable downturn in Japan after a surge in spending last year fueled by a weaker yen.<\/p>\n

Richemont has so far managed to withstand a wider luxury downturn amid continued demand for its desirable Van Cleef & Arpels, Buccellati and Cartier jewelry brands. Sales at the group’s Jewellery Maisons division rose 11% at constant exchange rates in the three months to the end of June.<\/p>\n

Revenues within it Specialist Watchmakers division, which features Piaget and Roger Dubuis, nevertheless continued to lag, declining 7% over the period. That was led by weaker sales in Asia, although the group nevertheless noted a “softer sequential rate of decline” versus previous quarters.<\/p>\n

\u2014 Karen Gilchrist<\/p>\n

UK bank Barclays fined \u00a342 million over handling of financial crime risks<\/p>\n

U.K. regulators have issued bank Barclays<\/a> a \u00a342 million ($56.3 million) fine for two failings in financial crime risk management.<\/p>\n

One fine relates to folded wealth management firm WealthTek, where the Financial Conduct Authority said Barclays “failed to check it had gathered sufficient information to understand the money laundering risk, before opening a client money account.” Barclays has also agreed to make a voluntary \u00a36.3 million contribution to former WealthTek clients who have a shortfall in claims from the company, which the FCA said led it to reduce its fine over the matter.<\/p>\n

WealthTek’s principal partner John Dance was charged in 2024 with<\/a> alleged misappropriation of \u00a364 million of customer funds and is due to stand trial in 2027.<\/p>\n

The FCA meanwhile fined Barclays \u00a339.3 million for risk failings related to its provision of banking services for business Stunt & Co., which was found to have received money from a multimillion-pound money laundering<\/a> operation.<\/p>\n

A Barclays spokesperson told CNBC: “The FCA’s investigation relating to Stunt & Co was centred around historical money laundering activity and made no findings that the bank had breached money laundering regulations.” They added that the bank had undertaken a review and self-reported its findings to the FCA, had fully cooperated with both investigations and had further strengthened its financial crime and other control capabilities.<\/p>\n

Barclays shares were 0.15% higher at 8:58 a.m. in London.<\/p>\n

\u2014 Jenni Reid<\/p>\n

Renault shares plunge 17% after French carmaker lowers guidance, appoints new interim CEO<\/p>\n

The electric Renault 5 at Automotive Summit at the Porte de Versailles exhibition center, Paris, France, on October 15, 2024.<\/p>\n

Stephane Mouchmouche |\u00a0Hans Lucas | Afp | Getty Images<\/p>\n

Shares of French carmaker\u00a0Renault<\/a>\u00a0plunged on Wednesday after the company lowered its 2025 guidance and announced the appointment of a new interim chief executive officer.<\/p>\n

The Paris-listed stock was last seen trading 16.6% lower.<\/p>\n

In a\u00a0trading update<\/a>\u00a0published late Tuesday, Renault said it is targeting an operating margin of around 6.5% this year, down from a previous forecast of around or exceeding 7%.<\/p>\n

Read the full story here.<\/a> <\/p>\n

\u2014 Sam Meredith<\/p>\n

ASML drop drags European chip stocks down<\/p>\n

European semiconductor stocks fell on Wednesday after equipment maker ASML<\/a> posted guidance that missed expectations.<\/p>\n

ASML’s third-quarter revenue guidance fell short of analyst forecasts while the company narrowed its own revenue guidance for 2025<\/a>.<\/p>\n

On top of that, the Dutch tech giant said that, while it is preparing for growth in 2026, it “cannot confirm it at this stage.”<\/p>\n

ASML shares dropped 7% in early trading as a result. Other European chip names also fell. ASM International<\/a> was down more than 4%, while BE Semiconductor<\/a> was 3.4% lower. STMicro<\/a> and Infineon<\/a> were also down.<\/p>\n

\u2014 Arjun Kharpal<\/p>\n

European stocks open lower <\/p>\n

The opening bell rang around 30 minutes ago, and European stocks are broadly trading in negative territory. Hot U.S.<\/a> and U.K. inflation<\/a> prints, concern about the regional semiconductor sector<\/a> and a profit warning from Renault all weighed on sentiment.<\/p>\n

The pan-European Stoxx 600<\/a> was last seen trading 0.2% lower, with sectors trading mixed. Among major bourses, France’s CAC<\/a> index led losses with a 0.24% loss.<\/p>\n

\u2014 Chloe Taylor<\/p>\n

\u00a0<\/p>\n

Danish official says 30% tariffs on EU \u2018completely unacceptable\u2019<\/p>\n

Danish Minister of European Affairs Marie Bjerre pictured on May 27, 2025 in Brussels, Belgium. <\/p>\n

Thierry Monasse | Getty Images<\/p>\n

Marie Bjerre, Denmark’s minister for European affairs, told CNBC that U.S. President Donald Trump’s plans to slap 30% tariffs on EU goods is “completely unacceptable.”<\/p>\n

“It is certainly interesting times \u2014 now, President Trump announced that he will impose 30% tariffs on Europe, and I have to say that is completely unacceptable, that is unjustified,” she said in an interview with CNBC’s “Europe Early Edition.<\/a>“<\/p>\n

“Europe is a trading partner that you can rely on, that you can trust in, and we will go into negotiation with the U.S. in good faith \u2013 but we also know that Europe \u2026 having a single market with 450 million consumers, we are very attractive market, and therefore we also ready to defend our interests, and we are ready to come with countermeasures if required.”<\/p>\n

When asked if the EU could reach a trade compromise with Washington before Trump’s Aug. 1 deadline, Bjerre said it was “very hard to say.”<\/p>\n

“We keep being surprised about which [tariff rate] is now imposed on us,” she said. “It started [at] 10% then it was even more, then it was back to 10%, then it was suspended, and now it’s 30% \u2013 it is, I have to say, quite unreliable.”<\/p>\n

\u2014 Chloe Taylor<\/p>\n

UK inflation hits hotter-than-expected 3.6% in June<\/p>\n

Westfield Shopping Centre in Stratford on 5th June 2025 in London, United Kingdom. <\/p>\n

Mike Kemp | In Pictures | Getty Images<\/p>\n

The U.K.’s annual inflation rate hit a hotter-than-expected 3.6% in June, according to data released by the Office for National Statistics (ONS) on Wednesday.<\/p>\n

Economists polled by Reuters had anticipated inflation would reach 3.4% in the twelve months to June, after it hit 3.4% in May.<\/p>\n

Read more here.<\/a><\/p>\n

\u2014 Holly Ellyatt<\/p>\n

Chip giant ASML says it can\u2019t confirm that it will grow in 2026<\/p>\n

ASML<\/a>\u00a0reported second-quarter earnings that beat estimates with the its key net bookings figure ahead of consensus.<\/p>\n

However, the chip equipment giant missed analyst expectations for revenue guidance in the current quarter and warned\u00a0of the possibility of no\u00a0growth ahead.<\/p>\n

Here’s how ASML did versus LSEG consensus estimates for the second quarter:<\/p>\n