As we do every Sunday, here are the top news stories from the past week:
Monday:
Huge contract for the German naval contractor $DE000TKMS001 (-0.49%) TKMS. The company is reportedly set to build submarines for Canada worth 62 billion euros. The stock rose significantly.
Tuesday:
The oil company $XOM (+1.22%) Exxon Mobil expects a significant jump in profits for the second quarter due to higher oil prices. The profit jump is expected to amount to up to 5 billion USD. However, revenue from the gas business is having a dampening effect.
Thursday:
Sugar producer$SZU (+0.99%) Südzucker is significantly more profitable. The Mannheim-based company is also raising its full-year revenue forecast to a range of 8.1–8.5 billion euros.
Sales of $P911 (-0.54%) Porsche plummeted by 16% to 122,306 vehicles in the first half of the year. Porsche is now once again selling more cars in Germany than in China. The 911, however, offers cause for optimism, with sales of that model rising by 19%.
