Today's financial news

Friday 30th June

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It’s a big day for data in the Eurozone, whilst Nike and Cineworld’s share prices fall

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European economic indicators

It’s a big day for assessing the health of the Eurozone, with multiple inflation figures for the region coming in. This includes figures around French inflation, German unemployment, Italian unemployment and British economic growth, giving us all a lot to digest. Markets will likely respond to the announcements, regardless of whether they’re positive or negative, as they’re strong predictors of the future economic health and market growth prospects.

Nike’s mixed messages

Nike reported their earnings for the quarter yesterday, with profits higher than expected. However, their earnings per share, which is a key measure of corporate profitability and often used as a guide to price shares, was lower than anticipated. This spooked investors which ultimately led the share price to drop by 4%. 

Cineworld’s debt plan

The British-based cinema chain, Cineworld, announced that a plan had been approved to restructure its debt by a US court. It’s expected that they should now recover from potential bankruptcy, which was the big fear based on earlier financial announcements. Nonetheless, their share price fell by over 30% following the announcement. Not so great for investors already bought into the stock, but fresh investors might swoop up Cineworld stocks whilst they’re low, in the hope that a rebound is possible. 

Sources: AJ Bell, Reuters, Investopedia, Yahoo Finance, Nasdaq

Zoe Burt