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Europe shares dip amid global selloff; earnings in focus -2-
Kering, Stellantis slumps; Unilever rallies (Il Sole 24 Ore Radiocor) - Milan, 25 Jul - Shares of Gucci owner Kering dipped 6.77% to a seven-year low after the luxury group late yesterday announced a sharp decline in revenue in the first half of the year and issued a weak forecast for the remaining six months of the year on low China sales.
The European car maker Stellantis sank 9.06% after it said that in the first half of 2024 net profit fell 48% to 5.6 billion euros as net revenue dropped 14% to 85.0 billion primarily due to the decline in volume and mix.
Adjusted operating income (AOI) stood at 8.5 billion euros, down 5.7 billion compared to the previous year. The AOI margin was 10%.
Consumer goods giant Unilever, whose portfolio of brands spans Dove, Axe, Hellmann's, Knorr, Domestos, Marmite and Vaseline, climbed 6.44% despite missing a sales growth forecast, as it upgraded its full-year margin guidance. The company recorded sales growth across all segments in first-half results published today.
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(RADIOCOR) 25-07-24 13:44:48 (0435) 5 NNNN