European stock markets are poised for a lower open, concluding a negative week as earnings season unfolds. Mercedes reported a 64% drop in operating profit due to tough market conditions, while Remy Cointreau cut its sales outlook amid challenges in the U.S. and Asia-Pacific. In Asia, markets were mixed, with Japan's indexes declining ahead of an election and a key monetary policy meeting.
Remy Cointreau SA has cut its annual sales guidance due to weak demand in the US and China, where consumer spending remains low. The French Cognac maker now expects organic sales to decline by double digits this year, with a 16.1% drop reported for the second quarter ending September, surpassing estimates.
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