
Business
Commerzbank Profit Beats But Guidance Stays Cautious
Commerzbank net profit of 859 million euros slightly beat estimates, while full-year guidance stayed below consensus.
Ngozi Eze
5 results for “germany”

Commerzbank net profit of 859 million euros slightly beat estimates, while full-year guidance stayed below consensus.

The S&P Global Eurozone Manufacturing PMI eased slightly to 52.7 in October for a ninth straight month of growth as input costs hit a five-month high, keeping ECB rate pressure alive.

German CPI fell to 2.8% in October from 3.3%, easing faster than forecast, as energy inflation dropped to 12.2% and core slowed.

Bids covered the investor allocation but fell below the full €5.5 billion issue, with €1.61 billion retained under the auction structure.

The November climate indicator slipped to minus 30.8 as income expectations and willingness to buy remained weak despite a better national outlook.