Daily Briefing: - English voters punish Conservatives and Labour in local elections - ‘Brexit - sort it’ - the message of local UK elections says Labour’s John McDonnell - Italy's Prime Minister Giuseppe Conte urges dismissal of junior minister
and Intu disappointed. Strong results from Adidas boosted its shares up 2.6 percent in pre-market trade: profits beat expectations thanks to high-margin ecommerce.
On the banks front, SocGen shares were up 2 percent in pre-market trading after the French bank’s capital buffer beat expectations, although profits fell – which wasn’t a huge surprise, though, after the bank last month unveiled a restructuring plan to protect its profitability. Its Hong Kong shares climbed more than 2 percent and the London listing was seen rising a similar amount. Also in the banking sector, DNB missed expectations for top-line growth, driving its shares down 2 percent in pre-market.
Emerging market stocks headed for their second weekly drop in a row on Friday, with sentiment cooled by the modest rebound in the dollar and global borrowing costs. Czechs raised rates again on Thursday for what could be the last one this cycle.
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