ROUNDUP: Merck KGaA suffers study flop with important pharmaceutical hopeful

DARMSTADT, Germany - The Merck Group has seen the failure of an important pharmaceutical hope: The drug evobrutinib did not meet the targets hoped for by researchers in key clinical trials in patients with relapsing forms of multiple sclerosis (MS). The share price fell sharply on the stock market on Wednesday morning. This is not the first setback for the pharmaceuticals division, which has been in the doldrums for some time.

ROUNDUP: Tui expects significantly more lucrative vacation business - share price jumps

HANNOVER/FRANKFURT/LONDON - The world's largest travel group Tui is heading for new heights after its existential crisis during the corona pandemic. Following record sales in the past financial year, profits in the new year are also expected to be higher than ever before at more than 1.2 billion euros. However, the time of big price jumps is probably over, said CEO Sebastian Ebel at the presentation of the annual results in London on Wednesday. The prospects were well received on the stock market: Tui shares rose by more than eleven percent at times.

ROUNDUP: Fresenius cuts dividend after state aid for clinics

BAD HOMBURG - Shareholders of the health care group Fresenius will miss out on the dividend for the current year. The Management Board has decided to withhold and not repay state energy subsidies of up to 300 million euros for its clinic subsidiary Helios, the DAX-listed company announced on Tuesday evening in Bad Homburg. This means that no dividends can be paid to shareholders and no bonuses can be paid to managers. The Supervisory Board is expected to approve the decision this Wednesday.

ROUNDUP/ExxonMobil: Significant increase in earnings by 2027 - higher share buybacks

SPRING - The oil company ExxonMobil has set itself new medium-term targets. In addition to an increase in earnings and cash inflow, the US group intends to invest significantly more money in share buybacks in the coming years. ExxonMobil will continue to focus on fossil fuels: the production of oil and gas is to be expanded. The share price rose slightly in the run-up.

BAT writes off billions on US cigarette brands - share price slips

LONDON - British American Tobacco (BAT) is writing off around 25 billion pounds (around 29.2 billion euros) on some of its US cigarette brands. The group, which has brands such as Lucky Strike in its range, is thus reacting to falling demand, according to a statement published in London on Wednesday. More and more smokers are quitting, switching to tobacco-free alternatives or cheaper brands. In addition, BAT expects to achieve only organic sales growth at the lower end of the forecast range of three to five percent in the current year. This caused the share price to slide on the stock exchange.

ROUNDUP: Aviation association predicts even higher profits for airlines worldwide

GENEVA - The return of the desire to travel and high ticket prices should bring airlines worldwide significantly more profit this year than previously thought, according to their association. Thanks to record sales, the industry is expected to earn 23.3 billion US dollars (21.5 billion euros) in 2023, the International Air Transport Association (IATA) announced in Geneva on Wednesday. In June, the organization had already more than doubled its estimate to just under 10 billion dollars. For 2024, IATA now expects a further increase in profits to 25.7 billion dollars. That would be almost as much as the 26.4 billion dollars from the pre-corona year 2019.

ROUNDUP: Hensoldt wants to take over defense specialist ESG - share price falls

TAUFKIRCHEN/MUNICH - The defense electronics group Hensoldt wants to take over the defense specialist ESG from Munich. The deal will be worth up to 730 million euros, as the company announced in Taufkirchen on Tuesday evening. The transaction values ESG at 675 million euros plus a possible additional 55 million euros. The purchase of the system integrator for defense and security is to be financed with a capital increase of up to ten percent and debt of around 450 million euros. The Hensoldt share, which is listed on the MDax, lost almost two percent around midday on Wednesday.

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Further news

-Industry association PCA: China's car market continues to grow in November

-Works Council: VW efficiency program to be in place by Christmas

-Airbus still has to deliver almost 100 jets for annual target in December

-Evotec partner receives approval in China for sleep disorder drug

-VW auditors: No evidence of forced labor in Xinjiang

-Lufthansa advertising banned in England due to misleading impression

-Less electricity generated - renewable sources predominate

-EU agreement: Spare parts for defective products to become cheaper

-ROUNDUP: B-Plan invalid? - Federal court hears case on Datteln 4 power plant

-ADAC: Petrol prices in Germany approaching the lowest level of the year

-Smart devices with spying function: authorities urge caution

-ROUNDUP 2: Another court rejects a vaccine damage claim

-Iran tests space capsule for astronauts

-Belgian royal couple talks with representatives of the energy industry

-Insurers: 110 million euros for blown up cash machines

-Survey: second-hand gifts more popular for the holidays

-Alliance calls for measures against sports betting advertising

-Munich Airport: 60 flights canceled - 'with the roughest through'

-Frankfurt thins out local transport services due to staff shortage°

Customer tip:

ROUNDUP: You can read a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.

/jha