- Reuters
UPDATE 2-Evonik expects Q2 core profit in line with Q1, confirms 2024 outlook
German chemicals group Evonik Industries said on Wednesday it expects its results to be strong in the second quarter, but is keeping its full-year guidance unchanged due to ongoing uncertainty in the industry. Evonik said it expects its second-quarter core profit to be "on a par" with the first quarter when it beat analysts expectations. On a conference call, Chief Executive Christian Kullmann cited subdued visibility into the second half of the year for maintaining its current outlook.
- Reuters
UPDATE 2-European stocks hover near record highs at start of busy week
European stocks settled just below all-time highs on Monday, as investors digested strong gains in recent sessions and struck a cautious tone ahead the European Central Bank's monetary policy meeting this week. Tech stocks continued to lead market gains across the globe, surfing on a wave of optimism around artificial intelligence.
- Reuters
UPDATE 2-Evonik says economic recovery unlikely in 2024, plans 2,000 job cuts
German chemicals group Evonik Industries said on Monday it did not expect an economic recovery in 2024 and announced up to 2,000 job cuts worldwide by 2026. The job cuts are expected to reduce costs by 400 million euros ($434.04 million) annually, the company said, adding that the majority - some 1,500 - would be in Germany. "We will have to be prepared for the economic storm to continue in the global economy," said CEO Christian Kullmann on a conference call, adding that the company hopes customers will be in a position to benefit from the more recent fall in energy prices.
