Main earnings reports. Bank of America, Wells Fargo, Citigroup, Barratt Developments, Tele2, Pagegroup... 

 

  • Citigroup reported a better-than-expected quarterly profit on Wednesday as the economic recovery allowed the bank to reduce provisions for potential defaults and offset a drop in net banking income due to lower transactions and lending.
  • Wells Fargo reported a profit in the second quarter thanks to provision reversals, while expenses related to its business practices scandal stabilized.
  • Bank of America saw its profit almost triple in the second quarter, thanks in particular to the reversal of provisions set aside last year, but its lending activities remain penalized by the low interest rate environment. The share of the American bank falls by 2% in pre-trade.
  • Blackrock largely exceeded expectations on Wednesday with a 28% jump in second-quarter profit and a new record in assets under management, at $9.490 trillion. However, the world's leading asset manager lost 1.5% in pre-market trading.
  • LG Chem will invest $8.7 billion to boost its battery division.
  • American Airlines returned to positive cash flow in Q2.
  • UK antitrust approves AstraZeneca 's $39 billion acquisition of Alexion.
  • Broadcom reportedly ended its negotiations to buy SAS Institute, according to the Wall Street Journal.
  • Apple wants to increase its iPhone production by 20% in 2021.
  • Apple and Goldman Sachs plan to create a "buy now, pay later" service.
  • Swisscom chief apologizes after a giant outage that affected emergency numbers in Switzerland.
  • Bossard has a record first half year.
  • Tullow Oil says it can generate $600 million in cash flow this year based on a barrel price of $60 each.
  • Ascom wins a €1.1 million contract in the Netherlands.
  • The FCA has told Provident Financial that it does not support the company's settlement plan for its home loan business.
  • Tele2 improves quarterly results on cost savings.
  • Sumitomo Mitsui Financial Group to take a 5% stake in Jefferies Bank for $380m.