Dutch semiconductor big ASMI drops 9% after ‘lumpy’ order consumption

Shares of Dutch semiconductor tools producer ASM Worldwide have been down 10% by 8:45 a.m. London time (3:45 a.m. ET).

The corporate reported its second-quarter outcomes after the shut on Tuesday, with quarterly bookings coming in at a lower-than-expected 702.5 million euros ($824.4 million).

Analyst estimates compiled by Seen Alpha had proven a consensus expectation of 843 thousands and thousands euros, information company Reuters reported.

ASMI stated on Tuesday that its order consumption had been “lumpy” within the second quarter.

— Chloe Taylor

Shares of Germany’s prime carmakers rose in early morning offers, boosted by hopes of a tariff breakthrough for the European Union after the U.S. and Japan’s commerce deal.

Luxurious automaker Porsche jumped 7%, with Volkswagen, Mercedes-Benz Group and BMW all buying and selling over 4%.

Milan-listed Stellantis and French automobile elements producer Valeo have been additionally up greater than 4%.

— Sam Meredith

Shares of Finnish telecoms big Nokia have been down 7% in early commerce on Wednesday, after the corporate issued a revenue warning.

Nokia lowered its comparable working revenue steerage vary to 1.6 billion euros to 2.1 billion euros ($1.9 billion to $2.5 billion). It had beforehand anticipated the determine to fall within the vary of 1.9 billion euros to 2.4 billion euros.

“Since Nokia offered steerage in January for the total 12 months 2025, two headwinds exterior its management are impacting the 2025 outlook,” the corporate stated in a late Tuesday assertion.

“The biggest headwind is forex fluctuations (significantly the weaker USD), an roughly EUR 230 million destructive influence … Additionally, the present tariff panorama is anticipated to influence full 12 months working revenue by EUR 50 million to EUR 80 million.”  

That represents a tariff hit of round $94 million.

— Chloe Taylor

It has been 10 minutes because the opening bell, and European shares are broadly shifting greater.

The pan-European Stoxx 600 was final seen up by 0.9%, with the tariff-sensitive autos sector leaping 3.5%.

That comes after the U.S. signed a bumper commerce cope with Japan, and President Donald Trump reportedly instructed friends at a dinner in Washington Tuesday that EU delegates have been “coming in tomorrow, the following day.”

— Chloe Taylor

Extra earnings experiences are coming on this morning, on what’s set to be a busy day for company monetary updates.

Iberdrola posted a 14% year-on-year decline in first-half internet revenue to three.6 billion euros ($4.2 billion).

The Spanish electrical energy utilities big additionally launched a 5-billion-euro enhance in share capital, saying the transfer would cowl its upcoming funding plan.

Equinor‘s adjusted earnings, in the meantime, fell 13% within the second quarter, in keeping with expectations, as declining oil costs hit the Norwegian vitality group.

The corporate additionally booked a $955 million impairment on a key offshore wind undertaking within the U.S., in mild of regulatory modifications and tariffs.

— Matt Ward-Perkins

French protection contractor Thales raised its full-year gross sales steerage on Wednesday because it reported stronger-than-expected revenue.

The corporate’s adjusted working revenue got here in at 1.25 billion euros ($1.47 billion) for the primary half of the 12 months, marking a 13% leap from the primary six months of 2024.

Analysts had been anticipating the determine to hit 1.23 billion euros, in response to LSEG information.

First-half gross sales noticed year-on-year development of 8.1% to succeed in 10.3 billion euros, which Thales attributed largely to “a stable efficiency” in its aerospace and protection divisions.

Nonetheless, Thales additionally stated on Wednesday that it was nonetheless anticipating “a contained direct influence of tariffs” that could possibly be imposed on EU items by the Trump administration.

The corporate’s steerage, it stated, was based mostly on the idea that 10% reciprocal tariffs could be levied on the EU, with its forecasts excluding any doable retaliatory measures that may be taken by European leaders.

— Chloe Taylor

UniCredit on Wednesday posted a pointy second-quarter revenue hike and lifted its full-year steerage, a day after withdrawing its takeover bid for Italian peer Banco BPM amid opposition from Rome.

Italy’s second-largest financial institution reported a 25% year-on-year hike in internet revenue to three.3 billion euros ($3.87 billion) within the second quarter when together with one-off objects, and a pair of.9 billion euros with out them.

Learn the total story right here.

— Ruxandra Iordache

Good morning from London, and welcome to CNBC’s stay weblog protecting all of the motion and enterprise information in European monetary markets on Wednesday.

Futures information from IG counsel a constructive open for European indexes, with London’s FTSE 100 seen opening 0.6% greater, France’s CAC 40 up 1.2%, Germany’s DAX up 1%, and Italy’s FTSE MIB 1.2% greater.

European shares declined once more Tuesday as traders digested earnings from among the largest corporations on the continent, and weighed the prospect of U.S. commerce tariffs that may kick in on Aug. 1 until a commerce deal is reached.

In a single day, Asia-Pacific markets traded greater after U.S. President Donald Trump introduced that he had accomplished a “large Deal” with Japan, with a baseline tariff of 15% set on the nation’s exports to the US. S&P 500 futures have been little modified Tuesday night after the announcement.

— Holly Ellyatt