Amsterdam-listed shares in ASML (ASML.AS, ASML) slid greater than 7% on Wednesday morning, after the chipmaking gear provider narrowed its steerage and supplied a cautious outlook for 2026.
In outcomes launched on Wednesday morning, ASML reported complete internet gross sales of €7.7bn (£6.7bn) for the second quarter, which was on the prime finish of steerage. The Dutch firm, which provides lithography machines are used to make semiconductors, posted internet earnings of €2.3bn for the second quarter.
ASML stated it anticipated complete internet gross sales of between €7.4bn and €7.9bn for the third quarter. For the yr, ASML stated it anticipated complete internet gross sales gross sales to develop by 15% year-on-year, which in comparison with €28.3bn in 2024, would work out to €32.5bn, in accordance Yahoo Finance UK calculations. That compares to the vary of €30bn and €35bn ASML offered within the first quarter.
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As well as, ASML CEO Christophe Fouquet stated that whereas “AI clients’ fundamentals stay robust”, the corporate continued to “see growing uncertainty pushed by macro-economic and geopolitical developments”.
“Subsequently, whereas we nonetheless put together for progress in 2026, we can’t affirm it at this stage,” he stated.
Derren Nathan, head of fairness analysis at Hargreaves Lansdown, stated: “AI stays the important thing progress driver significantly for its superior EUV lithography machines. Inside that income stream there are additionally indicators that orders for the subsequent technology Excessive NA machines are beginning to choose up albeit at a decrease margin than older fashions.
“However uncertainty on tariffs and export controls means ASML received’t stick its neck out on progress expectations for subsequent yr. Market consensus coming into the outcomes was a bit extra assured, on the lookout for a 7% uplift in 2026. To fulfill that, ASML’s order consumption wants to select up considerably, so there are some short-term headwinds.”
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Shares in MP Supplies surged 20% in Tuesday’s session and have been up one other 4% in pre-market buying and selling on Wednesday, after tech big Apple (AAPL) introduced $500m (£373m) deal to buy rare earth magnets from the corporate.
Apple stated in an announcement on Tuesday that it had entered a multi-year take care of uncommon earth producer MP Supplies, increasing the IPhone maker’s US provide chain. It comes as a part of Apple’s pledge to spend greater than $500bn within the US over the subsequent 4 years.
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The deal will see Apple and MP Supplies launch a recycling facility for processing recycled uncommon earth parts. As soon as full, the recycling facility in California will allow MP Supplies to soak up recycled uncommon earth feedstock — together with materials from used electronics and post-industrial scrap — and reprocess it for use in Apple merchandise.
Apple CEO Tim Prepare dinner stated: “Uncommon earth supplies are important for making superior expertise, and this partnership will assist strengthen the availability of those very important supplies right here in america.”
Apple shares have been little modified on Tuesday and in pre-market buying and selling on Wednesday.
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On the London market, Barclays (BARC.L) was in focus after the UK’s monetary regulator stated it had fined the financial institution £42m ($56m) for failed cash laundering checks.
The Monetary Conduct Authority (FCA) stated in a statement on Wednesday that it had fined Barclays for for “separate cases of failings in its monetary crime danger administration”.
Within the first case, the watchdog stated Barclays Financial institution UK had “did not test it had gathered adequate data to grasp the cash laundering danger, earlier than opening a shopper cash account” for wealth supervisor WealthTek. The FCA shut down WealthTek in 2023, after figuring out “critical regulatory and operational points”. The regulator stated on Wednesday that Barclays had agreed to make a voluntary cost of £6.3 million to WealthTek’s shoppers who’ve a shortfall within the cash they’ve been in a position to reclaim.
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Within the second case, the FCA stated it had fined Barclays Financial institution PLC £39.3m for “failing to adequately handle cash laundering dangers related to offering banking companies” to Stunt & Co.
“Barclays didn’t collect sufficient data in the beginning of the connection or perform correct ongoing monitoring,” the regulator stated. “Within the house of simply over a yr, Stunt & Co acquired £46.8 million from Fowler Oldfield, a multimillion-pound cash laundering operation.”
The FCA added that Barclays “did not correctly contemplate the cash laundering dangers related to the agency even after receiving data from legislation enforcement about suspected cash laundering by Fowler Oldfield, and after studying that the police had raided each companies.”
Regardless of the announcement, shares in Barclays hovered across the flatline on Wednesday morning.
On the Paris bourse, shares in Renault (RNO.PA) tumbled 15% after the carmaker lowered its steerage for the yr.
In a buying and selling replace launched late on Tuesday, Renault shared preliminary monetary figures for the primary half of the yr, posting a 2.5% rise in group income at €27.6bn.
Renault stated its outcomes had been impacted by weaker-than-expected efficiency in June, together with decrease volumes than anticipated and “growing business strain”.
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Renault stated that with the intention to “have in mind the deterioration of the automotive market tendencies with an growing business strain from its opponents and the anticipation of the continuation of the retail market decline”, it was now aiming to realize an working revenue margin of round 6.5% for the 2025 fiscal yr, down from earlier steerage of a margin higher than or equal to 7%.
On Tuesday, the French carmaker additionally introduced the appointment of chief monetary officer Duncan Minto as the corporate’s interim CEO.
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Again within the UK, shares in AstraZeneca dipped greater than 1% on Wednesday morning, after the pharma big share disappointing results from a complicated examine for a uncommon illness drug.
AstraZeneca stated that its anselamimab drug for a uncommon plasma cell dysfunction failed to fulfill its main targets, which have been to delay demise and the frequency of cardiovascular hospitalisations.
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This newest replace comes simply a few days after AstraZeneca that its experimental drug baxdrostat had been profitable in decreasing hypertension in a late-stage examine.
The pharma big stated that baxdrostat at two dose demonstrated a statistically vital and clinically significant discount in imply seated systolic blood strain (SBP) in contrast with placebo at 12 weeks.
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