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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
コンテナターミナル
Economic Updates
Philippines Trade Update: Trade deficit narrows but not a sign of strength
August 29, 2025 DOWNLOAD
Frick collection with palm trees 
Economic Updates
Policy Rate Updates: BSP takes on less dovish tone
August 28, 2025 DOWNLOAD
City skyline at sunset in Metro Manila
Economic Updates
Quarterly Economic Growth Release: Stronger case for a BSP cut in August
August 7, 2025 DOWNLOAD
View all Reports
Economy 2 MIN READ

Exchange operators, US debt ceiling jitters weigh on European shares

May 17, 2023By Reuters
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May 17 (Reuters) – European shares slipped on Wednesday as investors remained concerned about whether the outcome of the US debt ceiling negotiations would result in averting a default, while a slew of downbeat earnings, led by exchange operators, weighed on the mood.

The continent-wide STOXX 600 was down 0.3% as of 0716 GMT, with financial services companies and real estate firms  leading declines.

Euronext  dropped 4.2% after the exchange operator reported a fall in first-quarter revenue and income, while the London Stock Exchange Group dipped 4.2% after an investor consortium, including US buyout firm Blackstone and Thomson Reuters, sold shares worth about 2.7 billion pounds (USD 3.41 billion).

German lender Commerzbank AG slipped 3.7% even as its net profit nearly doubled in the first quarter.

UBS Group AG was flat after the Swiss bank said it expects a financial hit of about USD 17 billion from the takeover of Credit Suisse Group AG.

Among the bright spots, SAP added 1.6% after the German business software maker raised its 2025 total revenue outlook for continuing operations and announced a share buyback of up to 5 billion euros.

Siemens AG climbed 2.7% after the German engineering and technology group raised its full-year sales and profit guidance.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Sonia Cheema)

This article originally appeared on reuters.com

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