Unicredit CEO confirming they have received a letter from the ECB ordering them to wind down their biz in Russia further

'At UniCredit, we're quite excited to see what will happen when rates normalize, cost of risk normalize, and there will be a big differentiation between the banks who have built for the future and the banks that have not' the bank's CEO says after better than expected Q1 results

And Puig has just started trading

Spanish beauty and fragrance group Puig has priced its IPO at the top of the range, implying a market cap of $13.9 billion. Charlotte Reed breaks down what we can expect when shares beginning trading on Friday

The government has little fiscal room to mitigate any downturn if needed says Frederik Ducrozet
On Friday, Moody's and Fitch kept their rating and outlook for France despite its worst than expected deficit in 2023 at 5.5% of GDP and slow growth.

.Atos shares are sharply higher after the French government made an offer to buy the parts of the company it sees as strategically important, with a valuation between 700 million and 1 billion euros. Charlotte Reed has the details.

It's not demand (they have a backlog of 8,600 jets) but the supply chain that remains the biggest challenge for @airbus, to produce and deliver the planes to its customers, with extra scrutiny on quality control after the issues at competitor Boeing

'We're not gonna have something where it will be a fluffy year, and then things will go up. No, we will gradually pick up towards that trajectory' - Ma Banque BNP Paribas's Lars Machenil react to Q1 results in conversation with Charlotte Reed

Is it a Gucci problem or a Kering one? Shares dive again after a new profit warning, with most brands showing a decline in Q1
Kering shares are now down more than 40% over the past 12 months vs -10% for LVMH. Meanwhile, Hermes shares are up almost up 20%

Reuters' Mohammed Salem has won the 2024 World Press Photo of the Year award for this image of a Palestinian woman, Inas Abu Maamar, cradling the body of her five-year-old niece in Gaza.

Schneider confirm they are in prelim talks with Bentley Systems. Shares open down 2.5%

This will get too little media attention today: at the UNSC, France voted in favor of the admission of Palestine as a full UN member state. (US vetoed, UK abstained)

Macron setting himself apart, attempt to create new momentum toward just resolution of the Isr-Pal conflict.

LVMH accounted for 4 per cent of all French exports last year. Agriculture (including all the wine, champagne etc...) accounted for 3.2% ft.com/content/b8e68d…

A rare tech IPO in Paris today with Planisware. The last ones were OVHCloud in 2021 and Deezer in 2022.
'We hope we will be opening the market for other tech companies in France' the founder and Chairman of the group tells us

Evil twinning on Squawk. Who wore it better Arjun Kharpal ?

LVMH ended the day at the top of the CAC40, closely followed by Hermes, after Q1 results reassured investors: luxury demand is softer but still growing

Travel is rebounding and stronger than ever, despite inflation, economic and geopolitical uncertainties according to the CEO of Accor Group , Europe's largest hotel group. Reentering the CAC40 last month was symbolic of the pandemic crisis being firmly put behind