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DSV, a freight company, trims its outlook and flags the persistent market uncertainty
Danish freight company DSV posted slightly higher profits than expected for the third quarter, but cut its outlook for the full year. The company cited a significant impact of foreign exchange rates and softening demand in an uncertain market. Since U.S. president Donald Trump imposed new tariffs earlier this year, European shipping and logistic firms have been under pressure because of falling freight rates and weaker demands. DSV now expects operating profit for 2025 to be between 19.5 and 20.5 billion Danish crowns (3.05 billion-$3.20billion), down from the previous range of 19.5 to 21.5 billion crowns. Michael Ebbe, Chief Financial Officer of the company, said that "demand is softening and the market has become more challenging". He said: "But it's mainly that we also have some foreign currency rate impact. This is a significant headwind, that we have." DSV stated in a press release that it will continue to monitor the activity levels within its organization and adjust its capacity and cost base as needed. The largest logistics company in the world posted an operating profit of 5.43 billion Danish crowns for the third quarter, slightly higher than what 17 analysts had predicted.
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Kuehne+Nagel will cut between 1,000-1,500 positions after Q3 profits slump
Swiss logistics group Kuehne+Nagel reported on Thursday a 34% decline in its third quarter operating profit. It also announced a cost-cutting program, which included job cuts, in order to combat margin pressures as well as overcapacity. The company's third-quarter earnings, before interest and tax, fell from 455 million Swiss Francs to 285 million Swiss Francs (359 million dollars) compared to a year ago. The company cited currency exchange effects as well as a dramatic drop in the volume of transport to the U.S. after President Donald Trump announced "Liberation Day tariffs". K+N said it aimed to reduce costs by over 200 million francs in order to deal with the difficult market conditions. This will be achieved through measures like greater automation and shared service centers. A spokesperson for the company said that between 1,000 and 1,500 positions at full time will be eliminated as part of this program. K+N has a total of 85,000 employees. Transport and logistics operator K+N also reduced its operating profit forecast for the second consecutive year. The company now expects to make 1.3 billion Swiss francs by 2025. Previously, it had forecasted a profit between 1.45 billion and 1.65 billion Swiss francs. Separately investment firm Partners Group announced that it has agreed to sell its 24,9% stake in Apex Logistics - an integrated global logistic solutions provider - to K+N, which already owns the majority of the company. Apex now has a value of over $4 billion.
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Bloomberg News reports that Wizz Air, Hungary's national airline, is looking to delay the delivery of 100 Airbus aircraft.
Bloomberg News reported Thursday that Wizz Air, a Hungary-based airline, is in discussions to delay the delivery of about 100 Airbus SE planes into the next decade. The report was cited by people familiar with this matter. Report said that the aircraft was originally scheduled to be delivered between now and 2030. Wizz Air and Airbus didn't immediately respond to requests for comments. Could not verify the report immediately. Wizz has been struggling to compete with other European airlines financially in recent years due to the engine problems that have caused its Airbus aircrafts. Due to the cancellations, the airline's first-quarter profits were below expectations in July. The airline's shares are down over 20% this year. Wizz's CEO said in September that it is working with Pratt & Whitney (owned by RTX Corp) to expedite the engine servicing as delays have caused significant parts of its fleet to be grounded. The company's CFO Ian Malin stated earlier this month that the carrier aimed at ending engine-related grounded Airbus aircrafts by the end 2027. CEO Jozsef Varradi, however, said it was up engine manufacturer Pratt & Whitney, to determine the schedule. The carrier has warned twice about its profitability after the groundings. (Reporting and editing by Mrigank Dahniwala in Bengaluru. Bipasha dey is based in Bengaluru.
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Thales achieves 9% sales and order growth in the 9-month period, but still meets targets
Thales, the aerospace group, reaffirmed its financial targets Thursday after posting higher-than-expected revenues and orders for the nine months. The company's revenue and orders were boosted by increased defence spending and demand in avionics. The largest European defence electronics company reported that revenues increased 9.1%, on a comparable basis, to 15,26 billion euros ($17.80billion), with Defence, its largest division, increasing by 13.9%. On a comparable base, the new orders received increased by 9% to 16,76 billion euros. According to a consensus compiled by the company, analysts expected sales of 15,13 billion euros for nine months and orders of 15,72 billion. In addition to the new orders, the company signed a contract with SpaceRISE satellite operators for the provision of systems for the future European constellation IRIS2. CFO Pascal Bouchiat welcomed "the first key step" toward implementing the European Union’s secure communication constellation, but warned about competitive pressures on space. It's obvious that the space telecoms industry is still under pressure. "The fact that we have this first contract for IRIS2 does not take away from the challenges that European industry is facing in particular," he said to reporters. Thales reported that revenues from its Space business increased in line with expectations for the first nine-month period of 2025. Thales said that it expects a "low single-digit growth" for the year. This is significantly lower than Defence and Aerospace. The Cyber & Digital Segment saw a drop of 3.8% in sales, mainly due to the merger of Thales' sales teams with Imperva's cybersecurity firm that it acquired in 2023.
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. CARREFOUR: Carrefour, the European food retailer, reported a third-quarter sales group of 22.6 billion Euros while maintaining its financial goals for 2025? EXAIL TECHNOLOGIES : French underwater drone manufacturer Exail Technologies has reported a 18% increase in revenue for the third quarter, to 105 millions euros. This was driven by a strong demand for drone technology used by military forces. ID LOGISTICS The logistics company ID Logistics has reported revenues of 2.70 billion Euros for the nine-month period. KERING: Kering, the luxury group, reported a third-quarter profit of 3,42 billion euros. The group's overall sales were down 5% on an like-for-like comparison. This was higher than market expectations. MICHELIN: The French tyre manufacturer Michelin reported that its third-quarter sales fell 6.6% to 6.25 billion euro, which was below expectations. It cited a worse than expected business environment in North America. Verallia has revised its outlook for 2025. The company now expects adjusted EBITDA to be around 700 million euro. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... survey of world bourse outlook......... European Asset Allocation........................ News at a glance: Top News............. Equities.............. Main oil report........... Main currency report..... (Gdansk Newsroom)
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Taiwan and its offshore Islands near the Chinese Coast
Taiwan closely monitors whether China will include Taiwan-controlled Kinmen Islands in a five-year plan being discussed this week in Beijing. Taiwan's offshore Islands: Facts and figures When the defeated Republic of China fled to Taiwan after losing a Civil War to Mao Zedong’s communists in 1949, it retained control of a number of islands and islets on China’s southern and eastern coasts. The majority were captured by Chinese forces later or were evacuated by Taiwan because they were difficult to defend. Taiwan is only geographically a part of the Kinmen Islands and Matsu Islands, which are located just off the coasts of China's Fujian Province. - During Cold War, Chinese forces bombarded Kinmen, Matsu and other islands, but Taiwan retained control over the islands. The shelling continued until 1979. However, martial law was not lifted until 1992. Kinmen and Matsu are popular tourist destinations, yet they retain a strong military presence from Taiwan. As part of the normalisation plan, ferry services were launched from Kinmen and Matsu to China in 2001. At its nearest point, the Chinese coastline is just a few kilometres away from Kinmen. The cities of Xiamen (miles), and Quanzhou are clearly visible from the shore. Taiwan has expressed concern over a renewed Chinese military and quasi-military pressure campaign against Kinmen, Matsu and Matsu. This includes regular Chinese Coast Guard patrols in Kinmen waters, and occasionally drone flights near. Civil aviation is a major source of disagreement. China opened two new routes last year near Kinmen Island and Matsu, claiming they would help reduce air traffic congestion. Taiwan said that it had not been consulted, and the routes could pose a risk to the civilian flights servicing the airports in Kinmen and Matsu. Taiwan's officials said that the routes would also reduce their response time, and could threaten the national security of the island. Xiamen’s new international airport is due to open in the next year and it’s only a few kilometres away from Kinmen. Taiwan fears that this could be a security and aviation risk. Kinmen and Matsu have already developed economies that are closely linked to those of the Chinese cities Xiamen Quanzhou Fuzhou with whom its residents share strong linguistic, cultural and business ties. - China also constructed a bridge connecting Xiamen and Kinmen, without consulting Taiwan whose government had not approved the project. Construction has not begun on the Kinmen end. (Written by Ben Blanchard, edited by Sherry Jacque-Phillips).
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New Zealand issues rare warnings of a spring storm with a red alert
New Zealand's Weather Agency issued rare red-wind warnings, and officials declared an emergency in the Canterbury area as a powerful storm brought heavy rain and destructive gales to the South Island and the lower North Island Thursday. Several government services, such as libraries, were closed, including flights in and out Wellington, New Zealand's capital. Some train services had also been suspended. New Zealand Transport Agency has also closed several roads, and there are significant power outages. Images of a truck that overturned, silos that were toppled, and fences blown down appeared in the media. MetService stated that severe north-westerlies would produce damaging gusts of up to 150 km/h (93mph) in coastal areas of the lower South Island, and up to 140 km/h in certain parts of Wellington and Wairarapa. Heavy rain was also predicted for some parts of New Zealand. The red alert is only given in extreme situations. People are asked to shelter in place and, in worst-affected areas, government buildings like libraries and parks were closed. The National Emergency Management Agency announced that a state-of-emergency had been declared for the Canterbury Region late on Wednesday. This allowed authorities to mobilize resources and give directions as conditions worsened. Fire crews are continuing to fight wildfires on the east side of the North Island in Hawke's Bay. These have been largely contained, according a Hawke's Bay Fire and Emergency post. TVNZ reported a large vegetation blaze has also broken out in Hanmer Springs on the East Coast of the South Island. Fire crews struggle to reach the area because the road is blocked with fallen trees. Fire and Emergency New Zealand said that it was sending crews to respond to several incidents. It asked the public to be on their guard for fallen trees, powerlines and debris flying about and to stay away from the road. (Reporting and editing by Stephen Coates; Lucy Craymer)
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Waymo will test its autonomous vehicles manually at Newark Airport
Alphabet Waymo announced on Wednesday that it would begin testing its autonomous vehicles in Newark Liberty International Airport. The firm is looking to bring their robotaxis into one of the main airports servicing the New York City region. Robotaxi has been growing steadily in the United States over the past few years despite expensive technology and tough regulations. It is now gaining momentum through partnerships with ride hailing platforms and fleet operators, at a moment when Tesla is rolling its long-promised roboticaxi service out in the country. Waymo said it would test the technology with human drivers in Newark Airport in collaboration with Port Authority of New York & New Jersey in a blog post on X. Due to accidents, recalls, and federal investigations, it has been difficult for the U.S. to commercialize autonomous vehicles. Waymo announced last week that it will launch its driverless ride-hailing services in London by 2026. It is also looking to expand to other major cities.
Maguire: Solar and batteries can help Central Europe reduce its dependence on fossil fuels
Central Europe, a region not known for its sunshine, is proving to be a leader in the global energy transition through clever use of local battery energy storage systems and solar parks.
As part of their efforts to increase the domestic energy supply, several major Central European economies, including Austria, Hungary and Romania, have increased dramatically since 2022 the share of electricity produced by solar farms.
This rapid growth in solar power has enabled steep reductions in the amount of fossil fuels used to generate electricity, with the percentage falling to new lows in the entire region in 2025.
The use of grid-scale batteries, which are largely manufactured locally and are a result of policies to support local jobs, is also boosting the surge in solar power. Combining solar power and battery technology, Central Europe is able to defy the expectations that it would be a region tied to fossil fuels and become a leader of regional energy transition.
STAR POWER
Austria and Hungary are the two nations in Central Europe that have been most influential in boosting solar energy and reducing fossil fuel dependence.
Both economies are expected to be heavily dependent on Russian exports of energy after the Russian invasion of Ukraine 2022 due to a lack of other options for imports.
Austria, which used to rely on Russia for 90% of its gas supply, has been able to reduce its direct Russian imports dramatically since 2022 and has met most of its needs in 2025 by sourcing gas from Slovakia.
While Hungary has continued to buy Russian oil and natural gas, even though the European Union has reduced Russian imports, Hungary’s electricity system has decreased its reliance on gas from more than 25% before 2022 to less than 20% while increasing solar production.
In fact, Austria and Hungary generate more electricity from solar farms now than fossil fuels. This is a dramatic change from only two years ago, when fossil fuels accounted for the majority of electricity.
According to Ember, Austria's energy think-tank, data shows that by 2025, solar farms will generate around 17% and fossil fuel plants 10% of the electricity.
This compares with a solar share of 6% and a fossil fuel share of roughly 19% in 2022.
Around 33% of Hungary's electricity will be supplied by solar farms in 2025, while around 22% will come from fossil fuel plants. This compares with a solar share of 14% and a fossil fuel share of 35% in 2022.
WIDER TREND
In recent years, Romania, Poland and Slovakia have all increased their solar energy production while simultaneously reducing the use of fossil fuels.
Solar energy is growing much faster than fossil fuels and will likely overtake fossil fuels in the next few years.
Solar capacity has risen dramatically in the region since 2019.
Ember data show that the cumulative solar generation capacity of Austria, Hungary and Romania, as well as Poland, has increased by 460% from 2019 to 2024. This is a jump from 8 gigawatts in 2019.
This growth rate compares with a 145% increase in Europe's overall solar generation capacity during the same time period. It indicates that Central Europe has grown roughly three times faster than the European average.
Charge up
The rapid growth of the production and usage of battery energy systems (BESS) has been a key factor in Central Europe's solar adoption.
According to local utility filings, the battery energy storage capacity in Austria, Hungary, and Romania has increased by 472% between 2022 and 2025.
After large investments across Europe in upgrading the electricity grid, the BESS capacity is expected to increase over the next decade.
Project filings across Central Europe suggest that energy capacity for BESS installations could increase by more than tenfold in 2030, as each major power grid increases both its solar and storage capacities.
These increases in clean energy supply are likely to allow Central Europe to maintain its momentum as an important global energy transition engine.
These are the opinions of the columnist, an author for.
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(source: Reuters)