stocks, news, data and earnings
35 Mins Ago
Europe stocks close lower
European stocks closed lower Wednesday, with the regional Stoxx 600 index down 0.3%.
The telecoms and mining sectors led the losses, both down around 1.1%.
The U.K.’s FTSE 100 and Germany’s DAX both slipped more than 0.6%, while France’s CAC 40 fell 0.36%.
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Stoxx 600 index.
An Hour Ago
Evidence suggests we are in ‘soft landing phase,’ strategist says
Joe Little, chief global strategist at HSBC Asset Management, discusses the outlook for the U.S. economy and emerging markets.
2 Hours Ago
U.S. stocks open higher, S&P 500 nears 5,000 level
3 Hours Ago
Equinor shares sink 6% on fourth-quarter results
Shares of Norwegian oil and gas company Equinor fell 6% after it said it would reduce cash payouts to shareholders on the back of a normalization in energy prices last year.
It comes as it posted a slightly smaller-than-expected drop in operating profit in its fourth-quarter results.
Equinor’s adjusted earnings before tax for the October-December period fell to $8.68 billion from $17 billion the year prior.
— Karen Gilchrist
6 Hours Ago
Shares of Germany’s Renk jump 18% on market debut
Shares of German tank gearbox manufacturer Renk jumped 18% to trade at 18.50 euros ($19.90) each following its debut on the Frankfurt bourse Wednesday.
The shares were issued at 15 euros each for the defense company, which supplies gearboxes for Leopard tanks used in conflicts such as the war in Ukraine.
CEO Susanne Weigand said the ongoing conflict in Europe indicated that it was the right time for the company to list following a four-month delay.
“In Europe, armed forces need to ramp up specifically on the land side, which gives a ramp up to our tank business,” Wiegand told CNBC. She added that the company expects a mid-term annual growth rate of around 10%.
The public listing marks Germany’s first this year as investor appetite shows signs of growing after a cautious 2023.
— Karen Gilchrist
8 Hours Ago
Stocks on the move: Barratt Developments down 4.3%
U.K. homebuilder Barratt Developments fell 4.3% after announcing a £2.5 billion ($3.15 billion) deal to buy fellow property developer Redrow.
Meanwhile, German computer software company TeamViewer rose 9.2% after reporting higher-than-expected fourth-quarter revenue.
— Karen Gilchrist
17 Hours Ago
CNBC Pro: Japanese stocks can soar 50%, says advisor — and investors can cash in with these ETFs
The Nikkei 225 index, one of Japan’s most important stock market benchmarks, could surge more than 50% over the next two years, according to Tokyo-based advisor Jasper Koll.
The former JPMorgan Japan equities research boss revealed what was needed to push up the stocks.
CNBC Pro subscribers can read more here.
— Ganesh Rao
17 Hours Ago
CNBC Pro: This global EV stock could double in price in 3 to 5 years, analyst says
Competition is fierce in the electric vehicle industry, with investor favorite Tesla competing with a slew of Chinese rivals.
But Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors, believes that one stock will come out ahead.
According to FactSet, analysts covering the stock give it potential upside of 81.1% to the average price target, with 94% giving it a buy rating.
CNBC Pro subscribers can read more here.
— Weizhen Tan
12 Hours Ago
European markets: Here are the opening calls
European markets are set to open in mixed territory Wednesday.
The U.K.’s FTSE 100 index is expected to open 11 points higher at 7,696, Germany’s DAX down 12 points at 17,028, France’s CAC down 4 points at 7,642 and Italy’s FTSE MIB 39 points higher at 31,273, according to data from IG.
Earnings are set to come from Siemens Energy and TotalEnergies. Industrial production data from Germany for December is due.
— Holly Ellyatt
