Corporate results:

  • 888 Holdings expects earnings for 2024 at the lower end of market forecasts.
  • Antofagasta increased copper production by 2% in 2023 and expects higher capital expenditure in 2024.
  • Geberit posted sales of CHF 3.08 billion in 2023, down 9.1%. Ebitda margin is expected to be 30%.
  • Just Eat Takeaway expects core earnings for 2023 to be higher than guidance.
  • Meyer Burger expects heavy losses and major financing requirements by 2025. The German site will close.
  • Mitchells & Butlers reported strong sales growth over the festive season.
  • Charles Schwab posted a smaller-than-expected decline in fourth-quarter profits. Net income fell 47% to $1.045 billion.

In other news:

  • Spirit Airlines tumbles 47% after a U.S. federal judge blocks JetBlue's takeover of the airline.
  • Apple is forced to reduce the price of its iPhones in China, to remain competitive.
  • Synopsys acquires design software publisher Ansys for $35 billion.
  • Albemarle offers to sell its entire stake in Liontown after an unsuccessful bid. It said it plans to reduce headcount and spending on certain projects this year, in order to cut costs.
  • BP Plc to appoint Murray Auchincloss as permanent Chief Executive.
  • GSK places 300 million Haleon shares (3.2% of capital).
  • Google to lay off hundreds of people in its advertising sales unit.
  • Diageo settles dispute with Sean Combs, better known by his rapper stage name, P. Diddy.
  • Drax obtains approval for carbon capture at UK's largest power station.
  • Iberdrola sells stake in renewable energy projects to Norwegian sovereign wealth fund for €307m.
  • Chevron continues to ship cargoes to the Red Sea.
  • American Express sells Accertify to Accel-KKR.
  • Nokia will invest €360m in sites in Germany.
  • Visa completes acquisition of Pismo.
  • Equinor obtains 39 production licenses for the development of the Norwegian continental shelf.
  • Tesla cuts Model Y prices in Germany.
  • Ryanair CEO believes Boeing 737 MAX 10 could be certified in 2025.
  • Theravet launches Biocera-Vet in Germany.
  • Tesla has cut prices for its Model Y cars in Germany, a week after lowering prices for its Model 3 and Model Y in China.
  • Uber is working with Tesla to promote the use of electric vehicles by its drivers in the US, the platform told Reuters on Tuesday.
  • Walt Disney said on Tuesday that it did not support candidates for its board of directors proposed by activist shareholders, in a document filed with the SEC, the US stock market regulator.
  • Masimo, the medical technology manufacturer, announced on Tuesday that it had appointed former Walt Disney CEO Bob Chapek to its board of directors.
  • Coinbase - The cryptocurrency group will argue at a court hearing Wednesday that the U.S. Securities and Exchange Commission should drop its case against it, a person familiar with the matter said, confirming legal documents.

Main earnings reports today: BHP Group, Charles Schwab, Prologis, Geberit, Antofagasta... The full earnings calendar is here.