By | June 27, 2023
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2 hours ago

Asia looks “very positive” for us in terms of growth, says Alcon’s CEO

David Endicott, CEO of Alcon, discusses second quarter results.

2 hours ago

Stocks open slightly higher on Thursday

3 hours ago

Payments firm Adyen falls 28% after earnings

Shares in Dutch payment company Adyen plunged 28% by mid-afternoon on Thursday after the company’s first-half results missed expectations.

Adyen provides services to tech giants Netflix, Meta, Microsoft and Sporify, but said its margins were squeezed by employment costs and reported slower revenue growth in North America.

– Elliot Smith

5 hours ago

ESG funds underperformed last year but are starting to come back now, says Morningstar

Lindsey Stewart, director of investment stewardship at Morningstar, discusses ESG’s comeback and the importance of a long-term perspective.

5 hours ago

European markets pare losses

The pan-European Stoxx 600 index was down 0.2% late in the morning, having trimmed earlier losses of about 0.6%. Industrials fell 1.7% while mining stocks rose 0.8%.

7 hours ago

The Norwegian central bank raises interest rates by a quarter of a percentage point

Norway’s central bank on Thursday raised its key interest rate by 25 basis points to 4%, citing resilient economic activity and a tight labor market.

Norges Bank noted that its monetary tightening so far is having an effect and that pressure on the economy is easing, with consumer price inflation cooling but remaining high.

“The future key interest rate path will depend on economic developments. If the economy develops as currently expected, the key interest rate will be raised further in September,” says Norway’s Bank Governor Ida Wolden Bache.

– Elliot Smith

8 hours ago

Biggest movements: Nibe down 11%, GN Store Nord down 9% Philips up 4%

Corporate earnings continue to drive individual share prices in Europe.

Danish hearing aid manufacturer GN Store North and Swedish heating technology company Nibe Industrier fell 9 percent and 11 percent, respectively, in early trade after their second-quarter earnings reports.

At the top of the Stoxx 600, Dutch conglomerate Philips added 4%.

– Elliot Smith

8 hours ago

European stock markets open lower

The pan-European Stoxx 600 index fell 0.4% in early trade, with construction and materials stocks shedding 0.8% to lead losses while miners bucked the general downtrend to add 0.8%.

9 hours ago

Here are the opening statements

Britain’s FTSE 100 will drop by about 49 points to 7,308, Germany’s DAX seen around 99 points lower at 15,690 and France’s CAC 40 is expected to drop about 51 points to 7,209, according to IG data.

15 hours ago

CNBC Pro: Bank of America names the best non-consensus global stocks to buy. Here are 12 of them

American Bank named a number of buy-rated European stocks that its analysts are most bullish on.

The bank ranked stocks based on “beat factor” — its analysts’ most out-of-consensus stock ideas based on price targets and earnings estimates — in its Aug. 11 research note. All names are from the FTSE Eurofirst 300 index.

CNBC Pro subscribers can read more here.

– Lucy Handley

15 hours ago

CNBC Pro: China’s economy falters — and these European companies are among the most vulnerable

Several negative signals from China this week suggests that European companies with close ties to the world’s second-largest economy could face difficulties in the coming months.

CNBC Pro’s analysis of sales data showed that companies in the mining, automotive, luxury goods, and semiconductor and high-tech manufacturing sectors are most exposed to China.

CNBC Pro subscribers can read more here.

— Ganesh Rao

15 hours ago

CNBC Pro: Ark Invest says it’s not AI hardware it’s focused on, it’s software — and names two stocks

Ark Invest’s Renato Leggi says the company wants to invest in software names related to artificial intelligence.

While investors have been very focused on Nvidia, which makes advanced graphics processing units used for AI processes, Ark Invest “wants to focus on the piece that no one really pays attention to,” said Leggi, director of client portfolios at the company.

He explains why and names two stocks the company is “focused on.”

CNBC Pro subscribers can read more here.

— Weizhen Tan

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