Just Eat Takeaway to be delisted from London Stock Exchange
Just Eat Takeaway said it would be delisted from the London Stock Exchange due to “low liquidity and trading volumes” of its shares there.
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Only takeout The company is set to delist from the London Stock Exchange next month, dealing a blow to Britain’s ambitions to attract more high-growth technology companies to its stock market. Shares of the food delivery giant fell 1% after the news was announced.
The Anglo-Dutch food delivery company said on Wednesday it intends to delist from the London Stock Exchange after completing a review of the best place to list, leaving Amsterdam-based Just Eat Takeaway.com as its sole trading venue.
Just Eat Takeaway said in explaining its decision that its shares would be delisted from the London Stock Exchange to “reduce the administrative burden, complexity and costs associated with maintaining the disclosure and regulatory requirements of a London Stock Exchange listing, as well as to reduce liquidity low and trading volume”.
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— Ryan Brown
France’s CAC 40 index falls 1% as political uncertainty dominates
On July 7, 2024, in Paris, France, the New Front of the People (an alliance of left-wing parties including the far-left party “French Busumi”) won for the first time in Paris, France. People saw a French flag on the Place de la République.
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French CAC 40 On Wednesday, the index fell 1%, hitting a one-year low.
France is currently going through a period of heightened political uncertainty, with Prime Minister Michel Barnier’s minority government in jeopardy.
Earlier this week, the far-right National Rally party threatened to overthrow Barnier’s government by the end of the year if changes were not made to the unpopular 2025 budget it had proposed.
National rally figurehead Marine Le Pen said on Monday that talks with Barnier aimed at wringing concessions on a tax-increasing budget bill had failed to produce changes that would have enabled her party to approve government plans.
She suggested that her party would join forces with the left-wing bloc to propose a no-confidence motion in December, a move that would plunge France’s political system and economy into further chaos.
Read more about this story here: France’s far right props up a weak government. now it may crash
— Holly Elliot
‘Europe’s Detroit’ threatened by potential Trump tariffs
Skoda Kodiaq cars on the production line at the Volkswagen plant in Bratislava, Slovakia, Friday, December 1, 2023.
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easyJet’s full-year operating profit rises 25%, but still below expectations
EasyJet passenger aircraft on the tarmac at London Southend Airport, Southend-on-Sea, UK, Friday, May 3, 2024.
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budget airline EasyJet The company reported lower-than-expected annual operating profit due to the impact of conflict in the Middle East.
The airline reported operating profits of 597 million pounds ($750.5 million) for the 12 months to September 30, up 25% on the year. However, the figure was still lower than analysts’ expectations of 625.6 million pounds, according to a poll compiled by London Stock Exchange Group (LSEG) quoted by Reuters.
EasyJet said in a statement that earnings had been affected by the outbreak of conflict in the Middle East, which “resulted in the cancellation of a number of routes and associated costs and revenue”, as well as volatile and rising fuel prices.
For the current fiscal year ending in September 2025, the airline expects capacity to be approximately 103 million seats, up 3% from the previous year.
Chief executive-designate Kenton Jarvis, who succeeds Johan Lundgren next year, said: “The airline will continue to grow, particularly in popular markets such as North Africa and the Canary Islands On our long-haul leisure routes, we plan to increase the number of passengers taking package holidays by 25%.
Kenton Jarvis, chief financial officer of easyJet, said: “The outlook for easyJet is positive as travel remains a priority for consumers who value our low fares, unrivaled network and friendly service .
“The airline will continue to grow, particularly on popular long-haul leisure routes such as North Africa and the Canary Islands, where we plan to bring more customers on package holidays, a 25% increase.”
— Holly Elliot
Aston Martin expects full-year core profit to fall due to delivery delays
Aston Martin DB12 Goldfinger Edition photographed during the 007 Takeover at Burlington Arcade on October 29, 2024 in London, England.
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British luxury carmaker Aston Martin forecast on Tuesday its annual core profit would be below 2023 levels as delivery delays for its ultra-exclusive Valiant model weighed on its profit margins.
The company expects adjusted EBITDA in 2024 to be between £270 million and £280 million ($338.55 million – $351.09 million), compared with £305.9 million last year.
The automaker said it now expects to deliver only half of the 38 Valiant models by the end of the year, down from previous expectations of the majority.
Chief executive Adrian Hallmark said in a statement: “We have taken decisive action to better position the group for the future, including achieving a more balanced production and delivery position in the coming quarters.
Aston Martin, hit by continued sluggish demand in China and production delays due to supply disruptions, has cut its September production forecast by about 1,000 vehicles.
The Gaydon, England-based company last month reported a smaller-than-expected third-quarter loss, helped by strategic measures to mitigate losses.
The company reiterated its focus on 2025 targets, including achieving revenue of around £2 billion and targeted free cash flow generation. As part of efforts to strengthen its financial position, Aston Martin also announced plans to raise approximately £210 million through a share and bond issue.
— Reuters
CNBC Pro: ‘Cargojet expensive’: Short sellers bet on Canada’s largest cargo airline
A London-based hedge fund is taking a short position CargoJetCanada’s largest cargo airline cited concerns over its aging fleet, accounting practices and leadership style. The company did not respond to CNBC Pro’s request for comment.
Edgar Allen, founder and chief investment officer of High Ground Investment Management, revealed the company’s bearish stance on Cargojet at the Sohn Investment Conference earlier this month.
CNBC Pro subscribers can read more here.
— Ganesh Rao
CNBC Pro: US, China and more: As Trump tariffs loom, value investors reveal what to buy
News about US President-elect Trump Plan to raise import tariffs News from China, Canada and Mexico sent shockwaves through global markets on Tuesday.
Peter Boockvar, chief investment officer at U.S.-based Bleakley Financial Group, revealed his views on tariffs and the sectors and stocks he is watching globally.
CNBC Pro subscribers can read more here.
— Amala Balakrishna
European Markets: Here are the opening calls
European markets are expected to open mixed on Wednesday.
British FTSE 100 The German stock index is expected to open 5 points higher at 8,267 German DAX Index France fell 21 points to 19,285 CAC Down 39 points to 7,160, Italy FTSE MIB It fell 173 points to 33,150, according to IG data.
Easyjet is due to report earnings, with data including consumer confidence figures for Germany and France.
— Holly Elliot
