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United Microelectronics' Books NT$42.3 Billion Profit in Q2

United Microelectronics (TPE:2303) reported a net profit attributable to parent of NT$42.3 billion, or NT$3.39 per share, in the second quarter.Consolidated revenue jumped 17% year over year to NT$68.7 billion, according to a Wednesday release.The company said wafer shipments grew about 11% quarter over quarter, driven by strong demand for communications and consumer electronics, lifting capacity utilization to 85%. Revenue from 22/28-nanometer processes reached a record high, the filing said.UMC said it expects high single-digit shipment growth in the third quarter, supported by strong demand for computers, communications, and consumer electronics, with 8-inch capacity utilization set to improve, while 12-inch utilization remaining healthy.The company also raised its 2026 capital expenditure to $2 billion to support phased capacity expansion in Singapore and Taiwan and capture future AI-driven demand, it said.

TPE:2303

Oil & Energy18d ago

EMEA Natural Gas Update: Futures Rally After US-Iran Resume Military Strikes

European natural gas futures rose on Wednesday after the US and Iran resumed military strikes, shattering a temporary lull in hostilities earlier this week.The front-month Dutch TTF contract was up 1.23% to 58.450 euros ($66.63) per megawatt-hour, while the front-month UK NBP contract was up 1.12% to 143.190 British pence ($1.90) per therm.The US Central Command said in a post of X Wednesday that Iran's Islamic Revolutionary Guard Corps launched multiple missile attacks "in an attempted surprise attack on US forces" located across the Middle East. US Centcom noted that all missiles were successfully intercepted.The US, along with the Saudi Arabian Armed Forces, has since launched strikes against Iran-aligned terrorists located in Iraq, targeting "multiple terrorist logistics and weapons sites."Meanwhile, traffic along the strategically crucial Strait of Hormuz, which accounted for one-fifth of global LNG flows, witnessed an uptick on Tuesday, at 19, despite the latest escalation in hostilities, according to ShipFinder.While supplies continued to remain constrained, China's LNG demand is set to climb for the third-straight month, with the country's inventories being heavily depleted, according to Daniel Hynes, a senior commodity strategist at ANZ.All of these factors are weighing on Europe's ability to refill its own inventories ahead of winter, as it competes with Asian buyers for limited supplies. Inventories in the region stood at 55.91%, compared to 67.28% during the corresponding period a year ago, according to Gas Infrastructure Europe.Inventories were also significantly below the five-year average for this period, at 71.8%, according to the Swiss Federal Office of Energy.

US Markets18d ago

UBS Boosts Shareholder Returns with $3 Billion Share Buyback After Strong First-half Performance

UBS Group (UBSG.SW) shares climbed 3% by midday Wednesday as the Swiss bank announced plans for a new $3 billion share repurchase program on the back of robust first-half earnings.The banking group expects to deploy at least $1 billion of the entire allocation over the next three months, aiming to complete the full program by the end of the second quarter of 2027."Strong results in the second quarter and healthy capital generation have further fortified our balance sheet for all seasons and allow us to continue deploying financial resources towards profitable growth opportunities to support clients and deliver on our capital return ambitions," UBS Group Chief Executive Officer Sergio P. Ermotti said. "We are well positioned to outperform our 2026 exit-rate return target and achieve our exit-rate cost/income ratio target."UBS' total revenue for the six months ended June 30 was $27.94 billion, above the previous year's $24.67 billion, while the group's second-quarter revenue rose to $13.70 billion from $12.11 billion. The group's first-half attributable net profit climbed to $5.84 billion from $4.09 billion a year ago, with second-quarter net profit edging higher to $2.80 billion from $2.40 billion, which RBC Capital Markets noted was 17% higher than market expectations.Growth was driven by broad-based client momentum, with global wealth management delivering $36 billion in net new assets for the quarter, representing a 3% annualized growth rate. Investment bank revenue also rose by 26% for the three months to $3.73 billion, driven by higher revenue in global markets and global banking.The Swiss lender noted that the Credit Suisse integration remains on schedule for year-end 2026 completion, supported by the decommissioning of 70% of legacy applications. UBS also delivered an additional $1.1 billion in second-quarter gross cost savings, bringing cumulative savings to $12.6 billion and keeping the bank on course to reach its $13.5 billion target."UBS reported a strong set of results, not unexpected post peer results. The top line benefited from supportive markets, and operating leverage meant a large part went through to profits. The [share buyback] announcement points to a slower run rate than in consensus, but the timeline leaves room to at least deliver in line with expectations. Even if low, the small positive [net new assets] in the Americas is encouraging. There is no update on [too big to fail] at this stage (as expected), but the parent bank ratio further increased," RBC wrote in a quick-take note.

$UBSG.SW

Wire18d ago

United Microelectronics Q2 Earnings, Operating Revenue Rise

United Microelectronics (UMC) reported Q2 earnings Wednesday of 3.39 New Taiwan dollars ($0.10) per share, up from NT$0.71 a year earlier.Three analysts surveyed by FactSet expected NT$1.02.Operating revenue for the quarter ended June 30 was NT$68.73 billion, compared with NT$58.76 billion a year earlier.A single analyst projected NT$67.98 billion.Shares of United Microelectronics fell more than 4% in Wednesday's premarket activity.Price: $16.57, Change: $-0.79, Percent Change: -4.55%

$UMC

Asia18d ago

Larsen & Toubro's Unit Bags EPC Contract from Kuwait Oil

Larsen & Toubro's (NSE:LT, BOM:500510) EPC wing, L&T Energy Hydrocarbon Onshore secured a major EPC contract from Kuwait Oil Company for its Jurassic Light Oil export facilities.The company will provide engineering, procurement, and construction services for six crude oil storage tanks with a 618,000 barrel operating capacity each, alongside related facilities, according to a Wednesday Indian bourse filing.The agreement will also cover the upgrade of Kuwait Oil Company's existing export network, including the installation of new pipelines.

BOM:500510NSE:LT

Asia18d ago

Hitachi's Q1 Profit Slips; Revenue Up

Hitachi (TYO:6501) posted a slight year-over-year decline in attributable net income for the fiscal first quarter to 189.5 billion yen from 192.2 billion yen.The technology and engineering firm's earnings per share were 42.21 yen, compared with 41.98 yen a year earlier, according to a Tokyo Stock Exchange filing on Wednesday.Revenue climbed 20% to 2.71 trillion yen for the three months ended June 30 from 2.258 trillion yen a year ago.

TYO:6501

Wire18d ago

Deutsche Bank Q2 Earnings, Revenue Rise; Shares Up Pre-Bell

Deutsche Bank (DB) reported Q2 earnings Wednesday of 1.91 billion euros ($2.18 billion), up from 1.73 billion euros a year earlier.Analysts polled by FactSet expected 1.51 billion euros.Net revenue for the quarter, expressed as the sum of net interest income and total noninterest income, was 8.48 billion euros, compared with 7.80 billion euros a year earlier.Four analysts expected 8.13 billion euros.Shares of the company rose more than 4% in recent premarket activity Wednesday.Price: $37.05, Change: $+1.69, Percent Change: +4.78%

$DB

Asia18d ago

LCY Technology Completes NT$2.1 Billion Cash Capital Increase

LCY Technology (TPE:4989) received full payment for its cash capital increase, raising NT$2.1 billion, by issuing 35 million common shares at NT$60 per share.The company expects the payment certificates for the new shares to begin trading on Aug. 3, according to a Wednesday Taiwan Exchange filing.

TPE:4989

International18d ago

UK Consumer Credit Growth Accelerates in June; Mortgage Approvals Up

Net borrowing of consumer credit by individuals in the UK stood at 1.81 billion pounds sterling in June, following the revised 1.72 billion pounds in May, according to Bank of England data published Wednesday.The consensus estimate for the month was 1.70 billion pounds.Meanwhile, net mortgage approvals for house purchases came in at 58,200, compared with the revised 56,565 in the prior month and the expected 57,000.

FTSE 100

Asia18d ago

Hua Yu Lien Development Unit Awards NT$1.69 Billion Construction Contract for Residential Project

Hua Yu Lien Development's (TPE:1436) subsidiary awarded a construction contract to Hua Ching Construction for a new development in Tainan City, according to a Wednesday filing with the Taiwan Exchange.The contract carries a total amount of NT$1.69 billion, and is expected to conclude by Dec. 31, 2031.

TPE:1436

US Markets18d ago

Hermès Maintains Revenue Outlook as Sales Rise in First Half; Shares Drop

Hermès (RMS.PA) on Wednesday reported a 6% increase in first-half sales and maintained its medium-term revenue growth projections amid a challenging luxury market and ongoing geopolitical uncertainties.Revenue for the six months ended June 30 rose to 8.16 billion euros, up 6% year over year at constant exchange rates and 2% on a reported basis. Attributable net income was broadly flat at 2.24 billion euros.The Birkin bag maker delivered sales growth across all regions except the Middle East, where sales fell 4.2% to 330 million euros. Revenue in Asia, its largest market, rose 4% at constant exchange rates to 4.33 billion euros, while Europe posted a 6% increase to 1.92 billion euros.By business segment, leather goods and saddlery, its largest division, posted a 9.8% increase in sales at constant exchange rates to 3.76 billion euros. Revenue from the ready-to-wear and accessories business rose 2% to 2.2 billion euros.Hermès affirmed its medium-term guidance for revenue growth at constant exchange rates, "despite the economic, geopolitical and monetary uncertainties around the world.""Hermès reported 2Q26/ 1H26 results before market open today, with Group OSG of +6.7% arriving in-line with consensus expectations. This represents a slight acceleration from 1Q26, driven primarily by France, Japan and the Middle East. EBIT margins came in at 41.1%, +70bps ahead of expectations, driven by higher GM%. FX was a -1.9pts drag this quarter. Currency fluctuations represented a [360 million euros] negative impact on revenue for 1H26, and [70 million euros] for 2Q26," Bernstein said in its quick-take note."2Q26 is a slight incremental improvement relative to 1Q26, but should be taken with no drama, given the de-rating suffered by Hermès in recent months," Bernstein added.The company's shares were down over 7% in early morning trading in Paris.

$RMS.PA

Asia18d ago

Hong Kong Stocks Rally on Tech Strength Ahead of Fed Decision; BAIC Motor Gains 4%

Hong Kong stocks closed higher on Wednesday, led by technology shares, as the Hang Seng TECH Index climbed nearly 3% despite continued concerns over AI valuations across Asian markets.The Hang Seng Index gained 497.07 points, or 2%, to close at 25,807.92, while the Hang Seng China Enterprises Index rose 187.27 points, or 2.2%, to 8,623.52.Technology stocks remained resilient ahead of the U.S. Federal Reserve's policy decision and earnings from major technology companies, including Microsoft and Meta, which investors are watching for signs on the sustainability of AI-related spending.The U.S. Fed is widely expected to keep rates unchanged, though futures markets indicate some investors still see a possibility of a rate hike later this year.Among individual stocks, BAIC Motor (HKG:1958) rose nearly 4% despite forecasting a first-half attributable net loss of 1.55 billion yuan to 1.65 billion yuan, compared with a profit a year earlier.Pop Mart International (HKG:9992) gained more than 2% after opening a new store and its first overseas Pop Bakery dessert outlet in Singapore's Sentosa Island.

Hang SengHKG:1958HKG:9992

Asia18d ago

Advantest's Net Attributable Income Rises 94% in Fiscal Q1

Advantest (TYO:6857) posted a 93.8% year-over-year increase in net income attributable to owners of the parent to 174.78 billion yen for the first quarter ended June 30 from 90.18 billion yen.The automatic test equipment manufacturer's basic earnings per share rose to 241.27 yen from 123.14 yen a year ago, according to a Tokyo bourse filing on Wednesday.Net sales jumped 39.3% to 367.47 billion yen from 263.78 billion yen in the year-ago period.In another filing the company increased its forecasts for the fiscal year ending March 31, 2027, with an attributable income of 660 billion yen, EPS of 911.64 yen, and net sales of 1.714 trillion yen.

TYO:6857

Equities18d ago

Eni Q2 Net Profit, Sales Rise

Eni (E) reported Q2 net profit Wednesday of 1.09 euros ($1.24) per diluted share, up from 0.16 euros a year earlier.An analyst polled by FactSet expected 0.70 euros.Sales from operations for the quarter ended June 30 were 24.38 billion euros, compared with 18.77 billion euros a year earlier.Three analysts expected 32.64 billion euros.Shares of the company were up 4.8% in Wednesday premarket activity.

International18d ago

UK's M4 Money Supply Up 0.8% MoM in June

Britain's M4 money supply gained 0.8% month over month in June, against the 0.1% uptick previously, the Bank of England said Wednesday.Analysts expected a 0.2% growth for the month.

FTSE 100

US Markets18d ago

Krafton's Quarterly Revenue Nearly Doubles on PUBG, Subnautica 2 Growth

Krafton's (KRX:259960) blockbuster game franchises delivered another quarter of strong operating growth, although higher non-operating expenses pushed the company into a net loss.The company posted an attributable net loss of 29.9 billion won for the second quarter, compared with an attributable net profit of 15.5 billion won a year earlier, according to a Wednesday earnings release.Revenue nearly doubled year over year to 1.29 trillion won from 662 billion won, driven by continued growth in the PUBG franchise and the successful early access launch of Subnautica 2.For the first half, revenue climbed 73% to a record 2.66 trillion won, while operating profit increased 38% to 972.5 billion won.Subnautica 2 surpassed 5 million cumulative sales just 22 days after its Early Access launch. Revenue from the Subnautica franchise, including Subnautica 2 and earlier titles, reached 232.5 billion won in the first half.The PUBG franchise is evolving into a content platform through new gameplay modes, global intellectual property collaborations and an expanding user-generated content ecosystem, according to the press release."On mobile, the already established user-generated content ecosystem will be further expanded," the statement said."Since the launch of World of Wonder in 2023, PUBG Mobile has been expanding its UGC ecosystem through a steady increase in creative maps and player participation," it added.Looking ahead, Krafton plans to expand the PUBG ecosystem with additional game modes, user-generated content and collaborations with global intellectual properties, including Naruto, Spider-Man and Ferrari.Krafton plans to repurchase an additional 100 billion won of shares in the third quarter and cancel the entire amount as part of its shareholder return program.

KRX:259960

Treasury18d ago

OPT Machine Vision Tech Launches 1.27-Billion-Yuan Convertible Bond Offering

OPT Machine Vision Tech (SHA:688686) launched its convertible bond issue of 12.7 million units at 100 yuan apiece to raise 1.27 billion yuan.Industrial Securities serves as lead underwriter, according to a Wednesday filing with the Shanghai bourse.Shares of the machine vision components and software supplier closed 3% lower Wednesday.

SHA:688686

Treasury18d ago

G Shank Enterprise Cuts Cash Dividend, Capital Surplus Distribution, Bond Price

G Shank Enterprise (TPE:2476) adjusted its cash dividend and capital surplus cash distribution to NT$1.49 per share each from NT$1.50 per share, while keeping the total payout for each distribution unchanged at NT$327.12 million.The company said the adjustment was made after the number of outstanding shares increased due to conversions of its second unsecured convertible bonds and the exercise of employee stock warrants.According to a separate same-day filing, the company will also trim the conversion price of its second domestic unsecured convertible bonds to NT$64.8 from NT$66.5, following its cash dividend distribution.

TPE:2476

Asia18d ago

Supreme Electronics Fully Receives Subscription Proceeds

Supreme Electronics (TPE:8112) fully received subscription proceeds for its 2026 cash capital increase, according to a Wednesday filing with the Taiwan Exchange.The semiconductor components distributor issued 40 million shares at a subscription price of NT$66 per share, raising NT$2.64 billion.

TPE:8112

Treasury18d ago

US Treasury Yields Rise Early Wednesday as Investors Await Fed Policy Announcements Amid Escalation of Middle East Tensions

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US Markets18d ago

UBS Boosts Shareholder Returns with $3 Billion Share Buyback After Strong First-half Performance

$UBSG.SW