Rheinmetall expects increased war demand to boost sales to €11-12B by 2025.
Paragraph 1: Germany’s Rheinmetall raised its sales expectations for 2025, according to Chief Executive Armin Papperger, expecting sales to grow to between 11 billion euros ($11.9 billion) and 12 billion euros in 2025. Rheinmetall has supplied Ukraine with air defense systems and military trucks, and is also involved in the production of the Leopard tanks currently being requested by Ukraine.
Paragraph 2: Shares of an indie video game developer are set to rise by more than 200%, according to Berenberg, which said the company provided a “very encouraging” 2023 outlook. The consensus price target of six analysts covering the stock indicates a potential upside of over 70%, according to FactSet data. All but one have a buy rating on the company’s shares.
Paragraph 3: In contrast to the euro zone’s apparent revival in business activity in January, flash PMI (purchasing managers’ index) readings from the U.K. Tuesday showed the economy contracted at its sharpest rate in two years. The S&P Global composite U.K. PMI, which encompasses services and manufacturing, slid to 47.8 in January from 49.0 in December, falling short of a 48.5 consensus forecast in a Wall Street Journal poll of economists.
Paragraph 4: The euro zone economy returned to modest growth in December, according to new flash PMI (purchasing managers’ index) readings on Tuesday. The S&P Global euro zone composite PMI, which encompasses manufacturing and services activity, came in at 50.2 in January, up from 49.3 in December and ahead of a consensus forecast of 49.8. The index exceeded the 50 mark, which separates expansion from contraction, for the first time since June.
Paragraph 5: European markets are heading for a negative open Wednesday. The U.K.’s FTSE 100 index is expected to open 2 points lower at 7,765, Germany’s DAX 28 points lower at 15,070, France’s CAC down 8 points at 7,040 and Italy’s FTSE MIB 65 points lower at 25,888, according to data from IG. There are no major earnings releases today, but market participants will be keeping an eye on the latest Ifo business climate survey from Germany.
Germany’s defense manufacturer Rheinmetall has raised its sales expectations for 2025, expecting sales to grow to between 11 billion euros ($11.9 billion) and 12 billion euros. This follows the company’s involvement in supplying Ukraine with air defense systems and military trucks, as well as producing the Leopard tanks currently being requested by Ukraine. Shares of Rheinmetall have hit an all-time high in March 2022 and have remained high since Russia invaded Ukraine.
An indie video game developer is set to rise by more than 200%, according to Berenberg, with the consensus price target of six analysts covering the stock indicating a potential upside of over 70%. All but one have a buy rating on the company’s shares.
The U.K. economy suffered a sharp January contraction in activity, according to flash PMI (purchasing managers’ index) readings. The S&P Global composite U.K. PMI, which encompasses services and manufacturing, slid to 47.8 in January from 49.0 in December, falling short of a 48.5 consensus forecast in a Wall Street Journal poll of economists.
In contrast, the euro zone economy returned to modest growth in December, according to new flash PMI readings. The S&P Global euro zone composite PMI, which encompasses manufacturing and services activity, came in at 50.2 in January, up from 49.3 in December and ahead of a consensus forecast of 49.8.
European markets are heading for a negative open Wednesday, with the U.K.’s FTSE 100 index expected to open 2 points lower at 7,765, Germany’s DAX 28 points lower at 15,070, France’s CAC down 8 points at 7,040 and Italy’s FTSE MIB 65 points lower at 25,888. Market participants will be keeping an eye on the latest Ifo business climate survey from Germany.
News Source