FINWIRES · TerminalLIVE
FINWIRES

Ifo: German Employment Barometer Deteriorates in April

By

-- More German businesses are planning layoffs instead of additions to their staff in April owing to geopolitical uncertainty, ifo Institute said Wednesday.

The ifo employment barometer dropped monthly to 91.3 points from 93.4 points, the lowest level since May 2020.

Hardly any industry sector remains unaffected by job cuts, the institute said, noting that wholesale and retail companies are also downsizing. Meanwhile, the indicator for service businesses plunged to its lowest level since the start of the COVID-19 pandemic.

Related Articles

Mining & Metals

CGI Down 2.15% In US Premarket With Q2 Adjusted Earnings In Line, Revs Miss

CGI (GIB-A.TO, GIB) was down more than 2% in US premarket trade Wednesday after it reported in line adjusted earnings but lower than expected revenues for the second quarter, said the company on Wednesday.For the second quarter of Fiscal 2026, the company's net earnings were C$444.7 million, compared to $429.7 million in the corresponding year-ago quarter. Diluted earnings per share for the quarter were $2.09 compared to $1.89 in the same period last year.Second-quarter adjusted net earnings were $483.4 million, compared with $480.7 million in the same period last year. Adjusted diluted earnings per share for the quarter was $2.27, compared to $2.12 for the same period last year. The consensus estimates compiled by FactSet for Non GAAP EPS was $2.27 per share.The company's second-quarter revenue was near $4.16 billion, compared to $4.02 billion in the year-ago quarter. The consensus estimates compiled by FactSet for sales was near $4.24 billion.As of March 31, 2026, the company's backlog reached $31.50 billion, representing 1.9 times annual revenue, said the company. Cash provided by operating activities of $451.1 million, represented 10.9% of revenue and $2.47 billion or 15.1% of revenue on a trailing 12 month basis while bookings were $4.31 billion, for a book-to-bill ratio of 103.8% or 108.4% on a trailing 12 month basis, it added.On April 28, 2026, the company's unsecured committed revolving credit facility was increased to $2.50 billion and is now comprised of a three-year tranche of $1.00 billion which matures in 2029 and a five-year tranche of $1.50 billion which matures in 2031, said the company and added that both tranches can be further extended.On April 28, 2026, CGI's board of directors approved a quarterly cash dividend of $0.17 per share, unchanged from the prior quarter. This dividend is payable to holders of Class A subordinate voting shares and Class B shares (multiple voting) on June 19, 2026, to shareholders of record as of the close of business on May 15, 2026, added the company."CGI delivered a strong first half of the fiscal year, with industry-leading EPS accretion and cash generation," said Francois Boulanger, President and Chief Executive Officer. "Even in the context of today's dynamic business environment, this performance reflects the resilience of our business model, the relationships with our clients, and the outstanding expertise of our global team. As clients continue to invest in AI, they need a trusted partner to address mission-critical environments, modernize complex legacy estates, and deliver measurable outcomes. CGI's AI-first strategy-focused on making AI real and outcome-driven-positions us well to help clients across every industry and geography."

$GIB-A.TO
Equities

Berenberg Keeps Hold Rating as Eni Ups FY26 Guidance After Q1 Miss

Eni (ENI.MI) logged a weaker-than-expected first quarter but guided for improved conditions for the full year, which Berenberg dissected in a note published Wednesday.The Italian oil and gas company is rated hold with a price target of 22 euros.The research firm noted that first-quarter adjusted EBIT was 11% lower than consensus, while the 20% jump in full-year operating cash flow expectations and a 90% surge in its share buyback guidance were supported by higher commodity prices.However, expected lower results from Eni's downstream and global gas and LNG portfolio prompted analysts to cut their adjusted EPS projection for 2026 by 0.9%, and raise it by 1.1% and 1.5%, respectively, for 2027 and 2028."Eni has had an exceptional start to the year from an exploration standpoint ... Shareholder returns remain attractive, in our view, with a dividend yield of 4.4% and a buyback of around 4.2%, but after exceptional recent performance, we see better value elsewhere in the sector," analysts said.

$ENI.MI
Mining & Metals

Capital Power's Q1 Net Income Falls YoY

Capital Power's (CPX.TO) net income fell year over year in the first quarter despite an increase in revenue, the company said Wednesday.Capital Power recorded an attributable net income of C$15 million, or $0.04 per share, for the three months ended March 31, dropping from $151 million, or $1.03 per share, posted a year ago.The analyst earnings per share consensus forecast compiled by FactSet was $0.55.Revenue rose to $1.21 billion from $988 million as electricity generation climbed to 11,468 gigawatt hours from 9,555 GWh.Adjusted EBITDA increased to $404 million from $367 million. In comparison, the company's 2026 annual EBITDA guidance ranged from $1.57 billion-$1.77 billion.Capital Power's sustaining capital expenditures stood at $107 million as of the first quarter, compared to its 2026 annual guidance of $290 million-$330 million.

$CPX.TO