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Klarna has had a quarter in which it exceeded expectations, even its own outlook, but lowered its forecast for the coming period. The Swedish fintech company paid the price with a decline of several dozen percent on the stock market.* The results nevertheless showed growth and the company returned to profit in the second quarter. The company is also building its presence outside Europe, seeking to obtain a banking license, and announced a partnership with a technology giant.

European stocks continue to rise despite several risks hanging over the market. The pan-European STOXX 600 index started August at record levels, having delivered a strong earnings season, a technology boom and growing investor expectations. Companies have so far demonstrated that neither geopolitical tensions nor higher energy costs have managed to significantly disrupt their results. On the other hand, however, as stock prices rise, so does the bar that companies must clear to convince investors once again.

People's appetite for travel remains strong, but it is becoming increasingly difficult for the aviation sector to turn robust demand into profitability. This was confirmed by the financial results of the German Lufthansa Group, which achieved its highest quarterly revenue in history in the second quarter, but a sharp increase in fuel prices significantly weakened its profits. Moreover, the company issued a less optimistic outlook, which investors did not receive positively. Similar challenges are being faced by the entire European aviation sector.