Latest news with #RichardStern
Zawya
10 hours ago
- Business
- Zawya
European shares rebound as worries of US involvement in Middle East ease
European shares rebounded on Friday after three sessions of declines, as a stall in the United States' involvement in the Middle East conflict came as a relief to worried investors. The pan-European STOXX 600 was up 0.4% at 537.98 points at 0708 GMT. The benchmark is on track to log weekly declines for a second week. Israel and Iran's air war entered a second week and European officials sought to draw Tehran back to the negotiating table after President Donald Trump said any decision on potential U.S. involvement would be made within two weeks. The news improved market mood and helped recover some interest in risk assets that were being sold off during the week on uncertainty around how long the conflict would go on. In the market, travel and leisure stocks gained the most, up 1.1%, as oil prices eased. Conversely, energy shares were at the bottom of the index with a 0.7% decline, trimming some gains from this week. Among stocks, London's Berkeley was the biggest percentage decliner, down 8%. The homebuilder named current finance chief Richard Stern as its new CEO, but reported an annual pre-tax profit slightly ahead of market expectations.
Time of India
11 hours ago
- Business
- Time of India
European shares rebound as worries of US involvement in Middle East ease
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel European shares rebounded on Friday after three sessions of declines, as a stall in the United States' involvement in the Middle East conflict came as a relief to worried pan-European STOXX 600 was up 0.4% at 537.98 points at 0708 GMT. The benchmark is on track to log weekly declines for a second and Iran's air war entered a second week and European officials sought to draw Tehran back to the negotiating table after President Donald Trump said any decision on potential U.S. involvement would be made within two news improved market mood and helped recover some interest in risk assets that were being sold off during the week on uncertainty around how long the conflict would go the market, travel and leisure stocks gained the most, up 1.1%, as oil prices energy shares were at the bottom of the index with a 0.7% decline, trimming some gains from this stocks, London's Berkeley was the biggest percentage decliner, down 8%. The homebuilder named current finance chief Richard Stern as its new CEO, but reported an annual pre-tax profit slightly ahead of market expectations.
Reuters
11 hours ago
- Business
- Reuters
European shares rebound as worries of US involvement in Middle East ease
June 20 (Reuters) - European shares rebounded on Friday after three sessions of declines, as a stall in the United States' involvement in the Middle East conflict came as a relief to worried investors. The pan-European STOXX 600 (.STOXX), opens new tab was up 0.4% at 537.98 points at 0708 GMT. The benchmark is on track to log weekly declines for a second week. Israel and Iran's air war entered a second week and European officials sought to draw Tehran back to the negotiating table after President Donald Trump said any decision on potential U.S. involvement would be made within two weeks. The news improved market mood and helped recover some interest in risk assets that were being sold off during the week on uncertainty around how long the conflict would go on. In the market, travel and leisure stocks (.SXTP), opens new tab gained the most, up 1.1%, as oil prices eased. Conversely, energy shares (.SXEP), opens new tab were at the bottom of the index with a 0.7% decline, trimming some gains from this week. Among stocks, London's Berkeley (BKGH.L), opens new tab was the biggest percentage decliner, down 8%. The homebuilder named current finance chief Richard Stern as its new CEO, but reported an annual pre-tax profit slightly ahead of market expectations.
Reuters
12 hours ago
- Business
- Reuters
UK's Berkeley names Richard Stern as new CEO
June 20 (Reuters) - British homebuilder Berkeley Group (BKGH.L), opens new tab on Friday named current finance chief Richard Stern as its new CEO, succeeding Rob Perrins, who will take on the role of executive chair. Chairman Michael Dobson will step down in September after the group's annual general meeting, the company said. "At this time, the Board is very conscious of the complexity of today's operating environment in our industry, the role of housing in the Government's growth agenda and the importance of the current executive team to maintaining Berkeley's unique business model," Berkeley said in a statement. The company said it has proposed Perrins' appointment as chairman to lead the group's 10-year strategy, providing assurance to stakeholders of the continuity in leadership. As required by UK governance rules, Senior Independent Director Rachel Downey will consult with major shareholders in relation to this proposal, it said. The high-end homebuilder also reported an annual pre-tax profit slightly ahead of market expectations on Friday, helped by tight cost controls as high interest rates and affordability concerns weigh on demand in the sector. Pre-tax profit for the year ended April 30 came to 528.9 million pounds ($713.22 million), compared to analysts' estimate of 526.3 million pounds, according to LSEG data. ($1 = 0.7416 pounds)
