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GSK Stays Strong As Healthy Sales Beat Expectations

LONDON, April 26 (Reuters) – GSK (GSK.L) began 2023 with a quarterly performance that beat analyst expectations and extended a series of positive results following strong sales of its roster of vaccines as well as HIV and respiratory medicines.

It reaffirmed its guidance for 2023, saying it expected adjusted operating profit growth to be higher in the second half, but lower in the first half of the year when expected drug launches will increase costs.

Full coverage: REUTERS

Markets Mixed As Tech Boosts US Stock Futures, Europe Dips

SINGAPORE, April 26 (Reuters) – Global stock markets moved in opposite directions on Wednesday, as European investors responded to strain in the U.S. banking sector but Wall Street futures rose on bullish updates from Microsoft (MSFT.O) and Google parent Alphabet (GOOGL.O).

Europe’s STOXX 600 share index fell 0.7%, as regional banking stocks (.SX7E) dropped 1.3%.

MSCI’s broad index of global stocks (.MIWD00000PUS) was steady, after Asian markets outside of Japan (.MIAPJ0000PUS) closed higher in line with rising Wall Street futures.

Full coverage: REUTERS

Oil Rises As Falling US Inventories Refocus Market On Demand

April 26 (Reuters) – Oil rose on Wednesday after plunging more than 2% in the previous session as reports of falling U.S. crude oil and fuel inventories refocused investors on robust demand in the world’s top oil consumer.

Brent crude climbed by 40 cents, or 0.5%, to $81.17 a barrel by 0723 GMT. U.S. West Texas Intermediate crude gained 48 cents, or 0.6%, to $77.55 a barrel.

U.S. crude oil stocks fell by about 6.1 million barrels in the week ended April 21, according to market sources citing American Petroleum Institute (API) figures on Tuesday. Analysts had expected crude inventories to fall by about 1.5 million barrels.

Full coverage: REUTERS

Reckitt Names Kris Licht As CEO, Beats Sales Estimate

LONDON, April 26 (Reuters) – Reckitt Benckiser (RKT.L) has named company insider Kris Licht as CEO designate to succeed Nicandro Durante, taking the helm by the end of the year after a transition period.

Licht, who has served as president of Reckitt’s health business and as chief customer officer since July 2020, will be appointed to the board as an executive director from June 1.

“Having played a pivotal role in both the transformation strategy and the significant turnaround of our Health GBU over the last three years, Kris is the right leader to take Reckitt on the next stage of its exciting journey,” Durante, a former BAT (BATS.L) chief executive, said.

Full coverage: REUTERS

One In Five Cars Sold This Year Will Be Electric – IEA

BERLIN, April 26 (Reuters) – Electric cars are expected to make up nearly one-fifth of the global market this year, according to the International Energy Agency’s (IEA) outlook report for the electric vehicle market released on Wednesday.

Sales are expected to grow by 35% this year to reach 14 million, the report said, comprising 18% of the market – up from just 4% in 2020.

The shift from combustion engine to electric cars will reduce global demand for oil by at least five million barrels a day, according to the IEA’s projections.

Full coverage: REUTERS

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Industry Dynamics

Weekly Economic Calendar For December 4th, 2023 – December 9th, 2023

Weekly Economic Calendar For December 4th, 2023 – December 9th, 2023.

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