Stocks, News, Earnings and Data

8 minutes ago

Investment management firm says we’re not in ‘best economic phase’ for commodities

Paul Jackson, global head of asset allocation research at Invesco, says this is particularly true for industrial goods.

32 minutes ago

UK retail prices have risen at record rates as food prices rise

“Shoppers are taking action and clearly hunting for better value,” said Fraser McKevitt, head of retail and consumer insights at Kantar.

Matthew Harwood | Getty Images News | Good pictures

UK shop prices rose 8.9% year-on-year in March, a record, according to figures released by the British Retail Consortium.

Inflation was highest in food prices, which rose 15%, while fresh food rose 17%.

In a separate study from Kantar, shoppers faced an £837 increase in annual shopping bills without changing their spending habits.

“Shoppers are taking action and clearly hunting for better value,” said Fraser McKevitt, head of retail and consumer insights at Kantar.

“Footprints at every grocery store increased this month, with households shopping four times a week in March. This is the highest frequency we’ve seen since the pandemic began, except for Christmas.”

– Jenny Reid

An hour ago

Stocks on the move: Energy lost 8.5%, Embrace Group fell 13%

Shares of hydrocarbon explorer Energian topped European stocks in morning trade, gaining 8.5%.

The company’s share price fell after the full-year release Results Last Thursday, it turned from a loss of $96.2 million to a profit of $17.3 million and laid out a growth plan.

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Energy share prices.

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Embrace Group Share Price

2 hours ago

French business confidence plummets

Trash cans fill the streets as collectors go on strike in Paris, France, on March 20, 2023. Garbage collectors have joined a massive strike across France against pension reform plans.

Mustafa Yalcin | Anadolu Agency | Good pictures

Business confidence in France fell in March. Statistics The National Statistics Institute showed.

The index, compiled from business manager responses, fell a point from February, although it was still above its long-term average.

Sentiment weakened in retail trade, services, manufacturing and building construction, with only wholesale trade showing improvement.

German business sentiment rose for a fifth straight month in February, figures released on Monday showed. Ifo Business Climate Index.

– Jenny Reid

3 hours before

European stocks opened higher

European shares rose early on Monday, with the Stoxx 600 index up 0.5% at 8:20 a.m. London time.

Oil and gas stocks gained 1.44%, mining stocks rose 1.36% and banks gained 1.2% to regain some positive momentum.

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Stoxx 600 Index.

4 hours ago

Bailey: UK banks ‘resilient’, inflation key focus

In a speech on Monday night, Bank of England Governor Andrew Bailey said he was confident the UK banking system and regulatory framework would allow the central bank to focus on reducing inflation.

He described UK banks as “well positioned to support the economy, with strong capital and liquidity positions”. Sky News reported.

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“This country has a strong macroprudential policy regime. With the monetary policy committee to safeguard financial stability, the monetary policy committee can focus on its own core job of getting inflation back to target,” Bailey said.

The BoE raised its key rate by 25 basis points to 4.25% last week after inflation rose to a better-than-expected 10.4% in February.

– Jenny Reid

5 hours ago

We are not headed for a global financial crisis: CEO

Policymakers are right to shoot first and ask questions later, amid recent banking volatility, ABB Invest founder and CEO Thanos Babasavvas tells CNBC.

7 hours ago

Binance Founder Named in US Complaint Over Fall of Bitcoin, Ether

Bitcoin and Ether prices fell around 3% in Asian morning trade Currency Measurements – after US authorities filed a complaint against crypto exchange Finance and its co-founder Changpeng Zhao.

The filing alleges that the company actively solicited US users and replaced the exchanges’ own “useless compliance program.”

Bitcoin fell 3.09% in the last 24 hours, trading at $27,003, according to Coin Metrics — while Ether also fell 2.95% to $1,712.

Since the first quarter of 2021, when Bitcoin gained 103.73%, Bitcoin is up approximately 63% quarter on quarter, on pace to mark its best quarter ever. It is on pace to see gains for the third month in a row.

Ethereum is also up 41.3% in the quarter and is on pace for the best quarter since the first quarter of 2021 when the cryptocurrency rose more than 150%.

– Rohan Goswami, Gina Brancola, Jihye Lee

10 hours ago

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CNBC Pro: A fund manager reveals 3 stocks to buy as small-caps hit multi-decade highs

The market sell-off earlier this month affected small-cap stocks more than their large-cap peers.

Nevertheless, Josh Bennett, senior portfolio manager at Alger, believes the volatility has created opportunities for investors to pick stocks that have outperformed over the medium to long term.

Bennett named three stocks that he says could see a rebound through a potential recession.

CNBC Pro subscribers can read more here.

– Ganesh Rao

9 hours ago

Asia-Pacific financials, banks rise as SVB deal provides relief on Wall Street

10 hours ago

CNBC Pro: Morgan Stanley Upgrades Overweight Stocks — Here Are 5

Despite market volatility, Morgan Stanley upgraded several stocks in March, including U.S. and global picks.

Better calls spread across technology, pharmaceuticals and more, with the bank offering a two-fold upgrade per share. Here are five stocks upgraded by the investment bank:

CNBC Pro subscribers can read more here.

– Weissen Don

6 hours ago

European markets: Here are the opening calls

European markets are headed for a positive start on Tuesday.

UK’s FTSE 100 index is expected to rise 18 points to 7,498, Germany’s DAX is expected to rise 41 points to 15,177, France’s CAC is up 24 points to 7,104 and Italy’s FTSE MIB is expected to rise 85 points to 25,822.

On Tuesday, earnings are due from MAN Group and data releases include French business climate data and Italian consumer confidence figures.

– Holly Elliott

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