Stocks, news, data and earnings

Stocks, news, data and earnings

3 minutes ago

‘Very confident’ in Fed’s ability to hold interest rates at current level, says Goldman Sachs strategist

Kamakshya Trivedi, head of global FX, interest rates and emerging markets strategy research at Goldman Sachs, discusses the outlook for the US economy and interest rates.

4 minutes ago

“We see more market skepticism towards Germany,” says Bilfinger’s CEO.

Bilfinger CEO Thomas Schulz discusses the construction giant’s third-quarter results and the German economy.

18 minutes ago

Biggest movers: BPER Banca rose 6%, Siemens Energy rose 5%.

Shares of Italy’s BPER Banca added more than 6% by mid-afternoon to top the Stoxx 600 index.

Siemens Energy shares rose more than 5% after German newspaper Handelsblatt reported on Monday that the German government would provide state guarantees worth 7.5 billion euros ($8 billion) to protect the company’s order book.

-Elliot Smith

22 minutes ago

The Stoxx 600 rose 0.5% in afternoon trading

The European Stoxx 600 index was up 0.5% by mid-afternoon, with travel and leisure stocks up 1.4% to lead gains with almost all sectors and major stocks advancing. Financial services fell by 0.3%.

2 hours ago

Siemens Energy shares rose 4% thanks to reports of German government guarantees

A trader walks past Siemens Energy AG logos during Siemens Energy’s initial public offering (IPO) on the Frankfurt Stock Exchange in Frankfurt, Germany, September 28, 2020.

Ralph Orlofsky | Reuters

Siemens Energy shares rose 4% on Monday after German newspaper Handelsblatt reported on Monday that the German government would provide guarantees worth 7.5 billion euros to protect the company’s order book.

Problems with manufacturing errors at wind turbine subsidiary Siemens Gamesa led Siemens Energy to scrap its earnings forecasts earlier this year, and last month the company requested guarantees of up to 15 billion euros ($16 billion) from the German government.

The government will provide support worth 7.5 billion euros, while banks participating in the discussions will bear guarantees worth 12 billion euros, Handelsblatt reported, citing sources.

-Elliot Smith

2 hours ago

British Prime Minister Sunak begins a cabinet reshuffle with the surprise appointment of former leader David Cameron

Suella Braverman, British Home Secretary, arrives at 10 Downing Street for a Cabinet meeting to discuss the turnaround in the energy crisis, after Kwasi Kwarteng was sacked and replaced by Jeremy Hunt in London, UK on October 18, 2022.

Photography by Stuart Brook/Anadolu Agency via Getty Images

British Prime Minister Rishi Sunak on Monday fired controversial Home Affairs Minister Suella Braverman, as he begins a cabinet reshuffle in his senior cabinet.

Sunak’s office confirmed that Foreign Secretary James Cleverley will replace Braverman. In a surprise move, it was announced that former Prime Minister David Cameron had been appointed as the new Foreign Secretary.

Read the full story here.

5 hours ago

Biggest movers: Phoenix Group rose 8%, British Land rose 5%.

Shares of British insurer Phoenix Group jumped more than 8% in early trading after the company raised its full-year cash generation forecast after completing the merger of two of its brands.

British Land shares rose more than 5% after forecasting annual rental value growth to come in at the high end of its forecast range.

-Elliot Smith

6 hours ago

Positive openness in Europe

European markets opened in positive territory on Monday.

The European STOXX 600 index rose 0.5 percent in early trading, with travel and entertainment stocks increasing 1.4 percent to lead the gains, with most sectors advancing. Food and beverage inventories decreased by 0.3%.

12 hours ago

CNBC Pro: The global electric vehicle market is set to hit a milestone in 2024. HSBC says these battery stocks will stand out

The electric vehicle market is expected to hit a milestone next year, according to HSBC.

It said its global penetration could reach the “important 20% threshold” next year – “heralding mass market entry” for the first time.

“This has significant implications for battery makers,” the bank wrote in a November 1 note.

She named battery stocks with a buy rating.

CNBC Pro subscribers can read more here.

-Weezin Tan

12 hours ago

CNBC Pro: ‘We’re bullish on India’: As Diwali begins, these 3 stocks are expected to outperform, analysts say

A strong economy, growing population and booming stock market have put India on the map for many investors this year.

Now, as the Diwali festive season begins in the South Asian country, several sectors – and stocks – are expected to perform well, according to Indian stock brokerage Kotak Securities.

“As broader market valuations are rich, opportunities arising from (a) market correction can be used to add high-quality stocks (with attractive valuations) from a long-term investment perspective,” analysts from the brokerage firm wrote in a recent note.

CNBC Pro subscribers can read more here.

– Amala Balakrishner

9 hours ago

European Markets: Below are the opening calls

European markets are expected to open in positive territory on Monday.

The UK’s FTSE 100 is expected to open 6 points higher at 7,364, Germany’s DAX is up 5 points at 15,238, France’s CAC is up 10 points at 7,053, and Italy’s FTSE MIB is up 53 points at 28,431, according to data from I.G.

The profits are set to come from Porsche. There are no master data versions.

– Holly Eliatt

    (Tags for translation) Breaking News: Europe 

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