London ( UKX ) +0.77% to 10,654. Germany ( DAX:IND ) +0.16% to 25,027. Germany's GDP grows 0.3% in Q4 2025. Germany’s GfK Consumer Climate Indicator dropped to -24.7 heading into March. France ( CAC:IND ) +0.30% to 8,544. In other parts of Europe, p roducer prices in Sweden fell 2% Y/Y in January. Norway’s seasonally adjusted unemployment rate rose to 4.6% in January. The pan-European Stoxx 600 ( ...
London ( UKX ) +0.77% to 10,654. Germany ( DAX:IND ) +0.16% to 25,027. Germany's GDP grows 0.3% in Q4 2025. Germany’s GfK Consumer Climate Indicator dropped to -24.7 heading into March. France ( CAC:IND ) +0.30% to 8,544. In other parts of Europe, p roducer prices in Sweden fell 2% Y/Y in January. Norway’s seasonally adjusted unemployment rate rose to 4.6% in January. The pan-European Stoxx 600 ( STOXX ) moved 0.35% higher to record €631.9, as investor sentiment eased after U.S. President Donald Trump’s universal 10% tariff came into effect rather than the threatened higher 15% rate. Trump criticized the Supreme Court’s tariff ruling during his State of the Union address. The market f ocus shifts to earnings from Nvidia, due later in the day, which are expected to provide fresh insight into the strength and sustainability of AI-driven demand. On the corporate side, companies including Iberdrola ( IBDRY ), E.ON ( EONGY ), Telefonica, Bayer, Ferrovial give their earnings report today. Coming up in the session: Euro Area inflation expected shortly. In the bond market , the U.S. 10-year Treasury yield was up 2 basis points to 4.05%. Germany's 10-year yield was up 1 basis point to 2.72%. UK's 10-year yield was up 2 basis points to 4.32%. Currencies: ( EUR:USD ) ( GBP:USD ) ( CHF:USD ) ETFs: (NYSEARCA: EWG ), (NYSE: GF ), (NYSEARCA: EWI ), (NYSEARCA: EWQ ), (NASDAQ: FGM ), (NASDAQ: DAX ), (NYSEARCA: FLGR ), (NYSEARCA: FXB ), (NYSEARCA: EWU ), (NASDAQ: FKU ), (BATS: EWUS ), (NYSEARCA: FLGB ), (NYSEARCA: GREK ) More on Europe GBP/USD Breaks Trendline; Is A 470-Odd Pip Decline On The Way? (Technical Analysis) U.K. GDP Underwhelms With 0.1% Growth In Q4, FTSE 100 Slips And GBP/USD Advances Beyond The Rate Hold: Examining The ECB's Path Forward Amidst Euro Strength Germany's GDP grows 0.3% in Q4 2025 European shares fall as tariff confusion returns, car sales drop
smodj/iStock via Getty Images Madrigal Pharmaceuticals' ( MDGL ) Rezdiffra launch continues to impress, but MDGL isn't resting on its laurels, engaging in business and clinical development to develop next-generation regimes for metabolic dysfunction-associated steatohepatitis (MASH). In August, I rated MDGL a buy, noting the strength of the Rezdiffra launch and the potential for European approval ...
smodj/iStock via Getty Images Madrigal Pharmaceuticals' ( MDGL ) Rezdiffra launch continues to impress, but MDGL isn't resting on its laurels, engaging in business and clinical development to develop next-generation regimes for metabolic dysfunction-associated steatohepatitis (MASH). In August, I rated MDGL a buy, noting the strength of the Rezdiffra launch and the potential for European approval of Rezdiffra. The stock has been performing strongly too, however, which, along with ever-present competitor progress, leaves me thinking the easiest money might have been made. This article considers the Q4'25 financials, recent developments, and why I now rate the name a hold. Another Strong Quarter in the Books On February 19, with Q4'25 earnings, MDGL reported net sales of $321.1M in Q4'25, an $8.3M beat of analyst estimates and a 12% increase from Q3'25's net sales of $287.3M . MDGL also noted over 36,250 patients on Rezdiffra therapy at year end. That number marks a milestone for the company of achieving over 10% market penetration, as it had often guided for a target market of 315,000 US patients with diagnosed F2/F3 MASH under specialist care. That being said, MDGL notes the current target population has seen growth, and so even as MDGL grows into that market, the market itself is growing. MDGL Q4'25 earnings presentation. We might suggest, then, Rezdiffra is only at about 8% market penetration considering the updated figures, and so there is plenty of headroom in the current indication. Outside of the current indication, such as in F4c MASH (compensated cirrhosis), the jury is still out, with data from an outcomes study probably not on tap until 2027. With respect to the progress of MAESTRO outcomes, we are seeing events track in the range that were expected. So -- as we've talked about historically, if you look at natural history data, you see about a 5% to 10% annual event accrual in patients with cirrhosis. We estimate in the placebo group somewhere in that rang...
The big day for Wall Street has officially arrived! Following the closing bell today (Feb. 25), Nvidia (NASDAQ: NVDA) will release its highly anticipated fiscal 2026 fourth-quarter operating results (ended Jan. 25, 2026) and likely provide operating guidance for fiscal 2027. Nvidia has quickly become the face of the artificial intelligence (AI) revolution, with its graphics processing units (GPUs)...
The big day for Wall Street has officially arrived! Following the closing bell today (Feb. 25), Nvidia (NASDAQ: NVDA) will release its highly anticipated fiscal 2026 fourth-quarter operating results (ended Jan. 25, 2026) and likely provide operating guidance for fiscal 2027. Nvidia has quickly become the face of the artificial intelligence (AI) revolution, with its graphics processing units (GPUs) holding a virtual monopoly in enterprise data centers. As a result, shares of the company have skyrocketed by approximately 1,200% since the start of 2023. Handily exceeding consensus sales and profit forecasts from Wall Street analysts has been the norm. Image source: Nvidia. Continue reading
StepFun is considering an initial public offering in Hong Kong that may raise about $500 million, people familiar with the matter said, as companies tap investor demand for the Chinese boom in artificial intelligence. StepFun has held discussions with prospective advisers about the share sale, according to the people, who asked not to be identified because the information is private. The Shanghai-...
StepFun is considering an initial public offering in Hong Kong that may raise about $500 million, people familiar with the matter said, as companies tap investor demand for the Chinese boom in artificial intelligence. StepFun has held discussions with prospective advisers about the share sale, according to the people, who asked not to be identified because the information is private. The Shanghai-based startup, which is backed by companies including Tencent Holdings Ltd. , could go public as soon as this year, the people said. Details such as the size and timing of the offering may change, they added. A representative for StepFun didn’t respond to requests for comment. StepFun — or Shanghai Jieyue Xingchen Intelligent Technology Co. — is part of a group of Chinese large language model makers vying to be the country’s next champion as Beijing develops a local AI industry to compete with the US. MiniMax Group Inc. and Zhipu were among the first post-ChatGPT generative AI firms to go public last month globally, contributing to a record January for listings in Hong Kong. Their shares have soared since the debuts, underscoring strong appetite for Chinese firms in the sector despite a selloff globally. China Defies Global ‘AI Scare Trade’ as Investors Chase Winners Zhipu’s 120% Surge Highlights China’s New AI Market Favorites StepFun recently raised over 5 billion yuan ($728 million) from firms including China Life Private Equity Investment Co., Shanghai Pudong Venture Capital Co. and Tencent.
Getty Images Heading into the Q2 print, I was cautiously bullish on Sandisk Corporation ( SNDK ), citing a crowded trade. Here is what I said would be the most important item to monitor: Given that shares doubled since Q1 results, the market will be paying close attention to the guidance that management provides for Q3 FY26. Well, the guidance obliterated the Street's expectations. Q3 guidance is ...
Getty Images Heading into the Q2 print, I was cautiously bullish on Sandisk Corporation ( SNDK ), citing a crowded trade. Here is what I said would be the most important item to monitor: Given that shares doubled since Q1 results, the market will be paying close attention to the guidance that management provides for Q3 FY26. Well, the guidance obliterated the Street's expectations. Q3 guidance is calling for $4.4–$4.8B in revenue and $12–$14 in non-GAAP EPS. In comparison, the Street was looking for just $2.77B in Q3 sales and $4.37 in non-GAAP EPS. The outperformance is mainly driven by the increase in ASPs, which is a result of a high-demand, low-supply environment. The AI data center buildout is pushing the company to prioritize manufacturing, which (interestingly enough) is raising the memory prices in edge and consumer. Overall, I see impeccable fundamentals and a strong growth story until the end of the year. Despite risks of a possible correction in the broader markets in H1 this year, I think SNDK will see new highs before the end of the year. Unlike Citron, which recently shorted the stock, citing the cyclical nature of NAND, I don't think the ATH is behind. In my view, NAND ASPs are unlikely to enter into a digestion phase until the start of next year. Until then, I remain cautiously bullish on Sandisk. Q2 Highlights Let's start with the data center segment, although I have to say that I am impressed with the performance of edge and consumer, as well. Q2 data center revenue was $440 million, up 64% sequentially. The AI data center buildout is pulling forward SSD demand, which is pushing NAND prices up. Interestingly enough, this hike in prices was seen across all the segments, as price increases in data center spilled over into other markets, as noted by CFO Luis Visoso during the earnings call : We're seeing -- what happens is that NAND can flow to any market at the end of the day. So NAND will naturally flow to the markets that are most attractive. So wh...
2026年2月19日，摩洛哥工业和贸易部发布第DDC/03/2026号公告称，应摩洛哥生产商MAROC AKHCHAB申请，对原产于中国和印度尼西亚的木块芯胶合板（法语：panneaux de bois a ame epaisse）启动反倾销调查。本案倾销调查期为2025年1月1日至2025年12月31日，损害调查期为2022年1月1日至2025年12月31日。（中国贸易救济信息网）
2026年2月19日，摩洛哥工业和贸易部发布第DDC/03/2026号公告称，应摩洛哥生产商MAROC AKHCHAB申请，对原产于中国和印度尼西亚的木块芯胶合板（法语：panneaux de bois a ame epaisse）启动反倾销调查。本案倾销调查期为2025年1月1日至2025年12月31日，损害调查期为2022年1月1日至2025年12月31日。（中国贸易救济信息网）
Hong Kong raised its economic growth forecast to between 2.5 per cent and 3.5 per cent this year, as Financial Secretary Paul Chan delivered a budget speech focused on diversifying growth and boosting innovation. The city also will end deficits ahead of schedule, aided by economic growth and stronger stock trading, with an expected consolidated surplus of HK$2.9 billion for the financial year endi...
Hong Kong raised its economic growth forecast to between 2.5 per cent and 3.5 per cent this year, as Financial Secretary Paul Chan delivered a budget speech focused on diversifying growth and boosting innovation. The city also will end deficits ahead of schedule, aided by economic growth and stronger stock trading, with an expected consolidated surplus of HK$2.9 billion for the financial year ending next month, Chan said on Wednesday. The government initially predicted expansion of 2 per cent to...
Whether it’s beans or machines, grinders or milk, post your questions for the Filter’s coffee expert Sasha Muller here Want to know how to make a barista-style brew at home, where to buy the best coffee beans - or which espresso machine is best? The Filter’s coffee expert, Sasha Muller, will be answering your questions live at 1pm GMT. Sasha has tested coffee machines , cafetieres , espresso machi...
Whether it’s beans or machines, grinders or milk, post your questions for the Filter’s coffee expert Sasha Muller here Want to know how to make a barista-style brew at home, where to buy the best coffee beans - or which espresso machine is best? The Filter’s coffee expert, Sasha Muller, will be answering your questions live at 1pm GMT. Sasha has tested coffee machines , cafetieres , espresso machines and more for the Filter, so post your questions in the comments below on anything from his favourite maker and how to choose a machine to his coffee no-nos and pet hates. Create an account here to ask your question Continue reading...
Haleon Plc slid the most in nearly one year after sales grew less than expected in 2025, as a weak cold and flu season meant fewer customers purchased its over-the-counter medicines. The maker of Panadol and Advil painkillers said Wednesday that sales increased by 3% in 2025. That fell shy of analysts’ estimates for a 3.3% rise, and the company’s own reduced outlook for 3.5% growth. Haleon expects...
Haleon Plc slid the most in nearly one year after sales grew less than expected in 2025, as a weak cold and flu season meant fewer customers purchased its over-the-counter medicines. The maker of Panadol and Advil painkillers said Wednesday that sales increased by 3% in 2025. That fell shy of analysts’ estimates for a 3.3% rise, and the company’s own reduced outlook for 3.5% growth. Haleon expects the weakness to persist through the end of the cold and flu season in March, Chief Executive Officer Brian McNamara said in an interview. The issue was exacerbated by weak US consumer confidence, with sales of toothpaste including Sensodyne “a little more muted than we’ve seen in the past.” Haleon shares dropped as much as 5.6%, their biggest intraday loss since April 2025. Consumer brands like Haleon’s are facing slower growth in the US, usually a high-margin and reliable market, as shoppers push back against higher costs. Uncertainty about the government’s response after the US Supreme Court rejected President Donald Trump’s tariffs has added to the caution. Haleon, which was carved out from drugmakers GSK Plc and Pfizer Inc., in July cut its forecast for 2025 revenue growth to 3.5%, after setting an earlier target for a 4% to 6% annual rise. The company doesn’t need to take significant pricing decisions in the US, but rather focus on boosting competitiveness, McNamara said. He said Haleon is back to growing share in the market with Advil, and more of the company’s products will get better placement with key retailers in the second quarter. “We can’t control what the market does, but we do expect to continue and improve on our competitiveness,” McNamara said. “So we’re confident we’ll get the US back to growth and we think that will progress throughout the year.” McNamara said the company is on track to reduce at least £800 million ($1.08 billion) in costs over the next five years by streamlining its portfolio and operations. It could also see bolt-on acquisitions. Haleo...