LUFTHANSA TO FOLLOW IN FRANKFURT
PARIS (Reuters) – Stocks to watch Thursday on the Paris Stock Exchange and in Europe where futures indicate a lower opening:
* CREDIT AGRICOLE reported Thursday a 21.9% drop in its net profit in the second quarter due to an increase in provisions for risk of credit losses in the context of the economic crisis linked to the new coronavirus.
* The insurer AXA said on Thursday that it was giving up two of its financial targets for 2020 due to the economic and health crisis linked to the new coronavirus and decided not to pay an additional dividend this year in addition to that of 0 , 73 euro.
* EUROFINS SCIENTIFIC published upward half-year results on Thursday and said it was confident in its ability to meet its 2020 targets.
* LUFTHANSA posted the worst operating loss in its history in the second quarter, at 1.7 billion euros, and does not expect demand to return to its pre-crisis level until 2024, announced Thursday the German airline.
* Dutch bank ING reported second quarter pre-tax profit of 542 million euros, lower than expected, due to a provision of 1.34 billion euros for credit loss risk .
* UNICREDIT confirmed its profit target for 2021 on Thursday after posting a smaller-than-expected drop in second-quarter profit, boosted by market activities and lower costs.
* ADIDAS has said it expects a rebound in profit in the third quarter after experiencing a larger than expected operating loss in the second quarter due to store closures during containment. The title is quoted up 2.4%.
* ADECCO, the world number one in temporary work, posted a surprise profit and a lower turnover but higher than expectations for the second quarter. The title gained 2.3% on the pre-market.
* Diabetes treatment specialist NOVO NORDISK reported better-than-expected quarterly operating profit and slightly raised its full-year profit forecast despite stagnant sales.
* SIEMENS published a profit above expectations for the third quarter of its lagged financial year, which allows it to take 2.6% before the market. The German conglomerate also indicated on Wednesday that the replacement of Joe Kaeser by Roland Busch as chairman of the management board will be effective after the annual general meeting of February 5, 2021.
* PIRELLI lowered its operating margin and cash generation forecast on Wednesday due to the impact of the health crisis on its activities in the second quarter.
* MERCK KGaA raised its annual profit outlook thanks to the lifting of containment measures.
* TARKETT – HSBC raises its recommendation to “buy” against “keep” and raises its target price to 14 euros against 11 euros.