European stock markets open lower as relief rally stalls; Dassault Systemes falls 8% – CNBC

British fintech company Revolut announced on Thursday that annual profits have exceeded $1 billion for the first time as it prepares to launch a UK bank later this year.

Revolut, which provides a variety of banking and financial services via the app, said its net income for the year ending December 31, 2024 was £1.1 billion ($1.5 billion), up 149% from the previous year. The company’s revenues rose to £3.1 billion, up 72% year-on-year to accord with the growth of various revenue streams.

Read the full story here.

French software company stocks DassaultSystèmes The company’s first quarter revenue fell 7% at 8:32am in London after it missed expectations.

In a transaction update released Thursday morning, the company said its revenue for the quarter would rise 4% year-on-year to 1.573 billion euros ($1.8 billion).

Analysts expected quarterly revenue to be 159.5 billion euros, according to LSEG data.

According to LSEG, quarterly net income was 260 million euros, well below the analysts’ forecast of 320 million euros.

Dassault has confirmed its full-year guidance of annual revenue growth of 6% to 8% of annual revenue, but has reduced its 2025 operating merging outlook from 70-100 basis points to 50-70 basis points.

“As we enter 2025, our approach has been to provide a risk-adjusted financial outlook. Since then, the introduction of new tariffs has created a more volatile market environment and could lead to a longer decision-making cycle.

– Chloe Taylor

Adidas Stocks rose 1.3% after sales in the first quarter of 2025 exceeded sales of 61.5 billion euros ($6.98 billion).

Analysts welcomed organic sales growth of 17% compared to last year during a volatile trading period.

“This is another strong print overall from Adidas, reflecting a strong brand heat and continuing to be slightly insulated against external factors,” Deutsche Bank analyst Adam Cochrane said in a note to clients.

“I think this print should reassure investors given the uncertain environment, as it highlights the broader strength of the brand and a positive selling trend alongside less markdown compared to the previous year.”

Analysts also noted that Adidas’ results stand out among the weaker results from their competitors.

“The outcome and corporate/brand momentum continue to be strong in a tough consumer environment, but there is no doubt that it has been partially helped by the weaknesses of competitors like Nike and Puma,” said Piral Dadhania, an analyst at RBC.

– Ganesh Rao

Londonist Anglo Americanone of the world’s largest diamond miners reduced rough diamond production from 11% to 6.1 million carats in the first quarter, the company said in a trading update.

Anglo said the decline in production will come in response to a decline in diamond jewelry prices in light of slimy demand.

“While consumer demand for US diamond jewelry over the end of the year holiday season remained silenced, the rough diamond demand for the first quarter remained restrained as Midstream continued its careful approach to replenish its over-polished diamond inventory,” the company said in a statement to investors.

“There have been signs of loose, polished diamond prices stabilizing towards the end of the quarter, but the industry’s trust is lifted and the continued macroeconomic uncertainty, particularly the impact of US tariffs, will continue to manage ongoing Sightholder purchases to maintain ongoingly careful Sightholder purchases in the near future.

The company added that it is still “committed” to the sale of Diamond’s subsidiary Debeers, “when the market conditions are permitted at the right time.”

Stocks fell by more than 11% in 2025.

– Ganesh Rao

Wolfe Research Macro strategists Rob Ginsberg and Harvey read Harvey after the first day of their latest market comeback, saying, “Bear Market rally is the most violent.”

The 2.5% increase on Tuesday on the S&P 500 was “very strong,” internal markers such as width and volume, but that’s the point of the bare market gathering and they make you a follower,” the pair wrote.

As long-term, weekly and monthly trend analysis “continue to suggest that we are in the bear market,” Ginsburg and Harvey are looking for a “cluster” of signals to shift direction before declaring the bear death. These include turn of change of 3 months, including S&P 500 exceeding short-term resistance levels between 5500 and 5700.

The S&P 500 closed on Wednesday at 5,375.86.

– Scott Schnipper

The uncertainty caused by President Donald Trump’s new tariffs has certainly incited the fear of a recession in recent weeks, but Deutsche Bank said the market has not been fully acquired by the idea.

“It’s clear that investors haven’t yet fully priced the recession,” writes strategist Henry Allen. “At the end, like the growing credit spread and the fall in oil prices, the stock decline has been shallower than the recent recession, so I don’t think the market is clearly inevitable.

Conversely, it means investors are not fully priced in the recession. This means that if the property actually comes true, the stock can see “significant negative side risks.”

– Lisa Kailai Han

The European market is expected to open from flats to mixed territory on Thursday.

UK FTSE 100 The index is expected to be six points higher at 8,404 in Germany Dachshund Flat at 21,933 in France CAC 7,475, 2 points lower in Italy ftse mib According to IG data, 53 points is lower at 35,942.

The revenue is expected to come from Unilever, Banco Sabadell, Sanofi, Any, BNP Pariva and Dassault System. Data release includes trust in French consumers and new EU vehicle registration.

– Holly Eliatt