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1 hour ago
European stocks end higher
European stock markets closed higher on Friday, setting a new record for the Stoxx 600 index.
France’s CAC40 rose 0.7%, while the UK’s FTSE100 and Germany’s DAX both rose 0.3%.
See chart…
STOXX 600 index.
2 hours ago
Bundesbank President Nagel: “The German economy is strong”
Deutsche Bundesbank President Joachim Nagel discusses the bank’s data-driven approach to monetary policy and its ambition to cut inflation to 2% in 2025.
3 hours ago
US stocks start higher on Friday
The S&P 500 opened 0.3% higher and the Dow Jones Industrial Average rose 102 points, or 0.3%. The Nasdaq Composite Index, which has a high proportion of high-tech stocks, rose nearly 0.4%.
The market as a whole achieved over 5,100 new records. The Dow also hit a new all-time high.
— Peer Singh
6 hours ago
Investors remain concerned as global stocks hit record highs
Global markets hit record highs this week as enthusiasm around artificial intelligence boosted risk sentiment and hopes for a rebound in economic growth. But some investors are sounding cautious, suggesting tech’s valuations could put the market rally at risk.
Oliver Bethe, CEO of Allianz, an asset manager with about $1.85 trillion in assets under management, said the world looked “very dangerous.”
“I’m very cautious about the valuation of some of the tech sectors,” he told CNBC’s “Squawk Box” on Friday.
Read the full text here.
— Karen Gilchrist
6 hours ago
German economy contracted by 0.3% in the fourth quarter
The final gross domestic product (GDP) report released by Germany’s Federal Statistical Office on Friday showed that the German economy contracted by 0.3% in the fourth quarter of 2023.
The figure, unchanged from preliminary figures, shows Germany’s economic woes are deepening after economic activity contracted by 0.1% in the third quarter.
— Karen Gilchrist
9 hours ago
Volvo falls 3.8% on EV stock dilution plan
The Volvo XC60 will be available at our Chicago, IL dealership on October 4, 2021.
Scott Olson | Getty Images
Volvo shares fell 3.8% on Friday after the Swedish electric car maker announced plans to dilute 62.7% of its stake in Polestar Automotive Holding among shareholders.
The Swedish carmaker’s involvement in Polestar had been criticized by analysts who believed it would be a drag on Volvo’s resources, according to Reuters.
— Karen Gilchrist
9 hours ago
Stock prices rise: Standard Chartered rises 6.6%, Lufthansa falls 4.5%
Standard Chartered shares rose 6.6% in early trade to top the Stoxx 600 after the company reported higher pre-tax profits in its full-year results and announced a $1 billion share buyback program. .
Meanwhile, Lufthansa’s shares fell 4.5% as strikes over employee pay weighed on the German airline.
— Karen Gilchrist
18 hours ago
CNBC Pro: Need an Nvidia alternative? These 6 chip suppliers stand to benefit big from the AI boom
Many of the stocks that supply Nvidia are likely to benefit from the AI boom, as the U.S. semiconductor giant reported another impressive quarterly result.
The acceleration of AI trends means that their network of suppliers will directly or indirectly benefit from the growth.
CNBC has selected companies that are suppliers to Nvidia and could benefit from the AI growth story.
CNBC Pro subscribers can read more here.
— Ganesh Rao
18 hours ago
CNBC Pro: Goldman Sachs releases “Seven Samurai” — Japanese version of “Magnificent Seven” stocks
11 hours ago
European Market: Click here for opening call
European markets are set to open higher on Friday.
According to IG data, the UK’s FTSE 100 index is expected to open four points lower at 7,686, Germany’s DAX up 23 points to 17,396, France’s CAC up six points to 7,921 and Italy’s FTSE MIB. It is expected to open at 32,403, down 4 points.
Allianz, BASF and Standard Chartered are scheduled to report results on Friday, while Germany is scheduled to release fourth-quarter gross domestic product data.
— Karen Gilchrist
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