European stocks rebound, Remy Cointreau struggles

Investing.com -- European stock markets are set to open higher Thursday, showing signs of recovery after a lackluster session the day before.

At 3:04 ET (8:04 GMT) Germany’s DAX index climbed 0.6%, France’s CAC 40 gained 0.3%, and the UK’s FTSE 100 edged up 0.2%. Remy Cointreau grapples with falling demand

French spirits maker Remy Cointreau (EPA:RCOP ) reported a 12.9% drop in first-half operating profit to €147.3 million. 

The company is navigating a challenging landscape marked by sluggish demand in the U.S. and Asia-Pacific, compounded by higher tariffs on Chinese exports amid an EU-China trade standoff. 

Consolidated sales fell by 15.9% on an organic basis during the period, reflecting the broader challenges facing premium brandy producers.

Remy Cointreau has revised its forecast, now predicting an organic sales decline of 15%-18% for the full year, compared to an earlier estimate of a “double-digit decline.”  Political and economic stability in focus

Germany’s inflation figures and France’s budget challenges are likely to dominate headlines, with investors keenly watching for signals of economic and political stability in two of the eurozone’s largest economies.  Crude oil prices dip amid rising U.S. gasoline inventories

Oil prices fell on Thursday following an increase in U.S. gasoline stockpiles for the week ending November 22.

As of 3:04 ET, Brent crude dipped 0.5% to $71.91 per barrel, while U.S. West Texas Intermediate (WTI) crude also slipped 0.5% to $68.36 per barrel.

Source: Investing.com