barclays upgrades bunzl on strong outlook and m&a potential

Barclays has upgraded Bunzl to "overweight," citing a stronger FY25 outlook and M&A potential. The firm notes that Bunzl's shares are trading at historical lows, presenting an attractive entry point, with expected annual earnings growth of approximately 6% through FY27, supported by M&A and buybacks. Key catalysts include diminishing deflation and a stable pricing environment, with a price target set at 3,650p, indicating over 20% upside.

huawei reports rising sales but significant profit decline amid us sanctions

Huawei reported a 22% increase in sales to 862.1 billion yuan last year, marking three consecutive years of growth since a significant drop in 2021. However, net profit fell by 28% to 62.6 billion yuan, attributed to substantial R&D investments and the impact of selling its mid- to low-priced smartphone brand Honor.

ing sets ambitious climate targets with validated science-based commitments

ING has set ambitious climate targets, aiming for a 44% reduction in Scope 1 and 2 GHG emissions by 2030 and 100% renewable electricity sourcing. The bank plans to cut financed emissions in sectors like oil, gas, steel, and aviation, while phasing out coal financing by 2025. These targets have been validated by the SBTi, marking a significant step for financial institutions in climate action.

Huawei reports fastest revenue growth in five years despite profit decline

Huawei reported a 22.4% revenue increase in 2024, reaching C¥862.1 billion, the fastest growth in five years, despite a 28% drop in net profit to C¥62.6 billion due to heavy R&D investments. The consumer segment saw a 38% rise, while the intelligent automotive solutions unit's revenue surged over 4.5 times.

UBS lowers CTS Eventim price target but maintains buy rating

UBS has reduced its price target for CTS Eventim from 120 to 116 euros while maintaining a "Buy" rating. Analyst Olivier Calvet anticipates strong growth in the ticket business and considers the company's live event targets to be conservative, despite lowering growth forecasts slightly.

société générale announces significant fee increases for banking services starting april

Société Générale will implement over 10 fee increases starting April 1, with hikes ranging from 1.47% to 60% on account maintenance, card fees, and other services. Notably, account maintenance fees will rise by 6.25%, while the fee for reissuing a card’s PIN will increase by 60%. Conversely, the bank has introduced free instant transfers via its app or website and extended preferential international transaction rates to all customers aged 16 and over. Additionally, SG is participating in a project to install shared ATMs in rural areas, set to begin operating in 2025.

hedge funds rapidly sell off tech stocks amid market volatility

Hedge funds are rapidly selling off global tech stocks, with U.S. tech making up 75% of the net selling, particularly in semiconductors. This shift, driven by macroeconomic pressures and a bearish outlook, has reduced hedge fund exposure to the tech sector to a five-year low of 16.4%. Concerns over AI valuations and trade tariffs have further fueled the selloff, despite reassurances from Goldman Sachs about the sector's strong fundamentals.

new drama explores royal bank of scotland's role in financial crash

A new drama titled "Make It Happen," featuring Brian Cox as Adam Smith and Sandy Grierson as Fred Goodwin, will explore the Royal Bank of Scotland's role in the 2008 financial crash. Written by James Graham and directed by Andrew Panton, it marks Cox's return to Scottish stages after a decade. The world premiere will open the Edinburgh International Festival in 2025, following preview performances at Dundee Rep Theatre, with tickets available from March 27.

citigroup reports strong earnings and announces significant stock repurchase plan

Citigroup Inc. reported a quarterly EPS of $1.34, surpassing estimates, with revenue of $19.58 billion, a 12.3% increase year-over-year. The company declared a quarterly dividend of $0.56, yielding 3.19%, and announced a $20 billion stock repurchase plan. Analysts maintain a "Moderate Buy" rating, with a consensus price target of $84.50.

bank of england considers increasing deposit guarantee for savers

The Bank of England has proposed an increase in the deposit guarantee for savers. Lloyds Banking Group plc, a major British banking entity, reports that its net income is primarily derived from retail banking (58.4%), followed by commercial banking (30.7%) and insurance and wealth management (6.7%). By the end of 2024, the group managed GBP 482.7 billion in current deposits and GBP 459.9 billion in current loans.
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