Vodafone (VOD.L)
Vodafone is set to sell its Italian operations, days after it emerged it had rejected a bid by billionaire telecoms tycoon Xavier Niel to combine them for €10.5bn (£9bn). It was announced that negotiations were underway.
Chief Executive Officer Margherita Della Valle said the company was “in active discussions in Italy” following the removal last week of Neil's Iliad Group, which had submitted a proposal to merge its Italian operations. ” he said.
Vodafone said in a trading update that third-quarter sales fell 2.3% to €11.3bn (£9.7bn), but organic services sales rose 4.7%, ahead of analyst expectations. It exceeded 4.3%.
It said it remained on track for full-year real profit of 13.3 billion euros (11.4 billion pounds).
Matt Blitzman, equity analyst at Hargreaves Lansdown, said: The growth rate was in line with the second quarter, which may have been better than some had feared.
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“The key German market managed to enter growth territory, but there was a slowdown. Comparisons with the second quarter will always be tough. Some non-recurring revenue sources will not repeat Regulatory changes in Germany will have an impact on this situation in 2018, adding further uncertainty to activities in the region. ”
Vodafone's share price fell more than 1% at the start of trading, leaving it at the bottom of the FTSE 100 (^FTSE) leaderboard, but has since recovered slightly.
Lloyds Banking Group shares fell after the Financial Times reported that Iran used the financier to secretly move funds around the world.
According to the FT, Lloyds & Santander UK (BNC.L) provided accounts to a British front company secretly owned by a sanctioned Iranian petrochemical company based near Buckingham Palace. .
Documents analyzed by the FT show that since PCC came under US sanctions, it has used British companies to support China's Iran front while concealing its effective ownership through “trustee agreements” and director nominees. received funds from the organization.
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One of these companies, Pisco UK, was registered in a detached house in Surrey and used a Santander UK business account.
Another PCC front company in the UK is Allia Associates, which does business with Lloyds.
UniCredit shares hit an eight-year high on Monday after the bank said it would return its entire 2023 profit pool of 8.6 billion euros to investors.
The Milan-based bank revealed details of the planned payment after reporting fourth-quarter profit of 1.9 billion euros, almost three times more than analysts expected.
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The bank expects to increase dividends to shareholders to 10 billion euros in 2024, including the introduction of an interim dividend. The final distribution of dividends and share buybacks will depend on market conditions.
Boeing (BA)
Boeing stock fell in pre-market trading as the plane maker discovered new problems with its 737 MAX airframes and had to delay deliveries of 50 planes to allow for work.
According to the Wall Street Journal, a supplier of 737 Max aircraft parts discovered holes in the fuselage of 50 planes being produced for the company.
According to the report, employees at Spirit AeroSystems, which makes fuselages, nacelles and struts for various Boeing aircraft, discovered incorrectly drilled holes while the 737 Max was going through production. He said he alerted his manager to something.
Separately, Emirates President Tim Clark said Boeing's quality standards have been gradually declining over the years. In an interview with the Financial Times, Clark said it was essential for Boeing to have a “second-to-none safety culture.” It's a “last chance bar,” he said.
Boeing stock is down 20% this year.
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