US, Eurozone inflation statistics in focus

European markets gave back some of their morning gains after the Eurozone inflation report showed the headline consumer price index fell to 2.6% from 2.8% in January. The headline forecast from economists compiled by Reuters was 2.5%.

Core inflation, which excludes volatile factors such as energy, food, alcohol and tobacco, was 3.1%, above expectations of 2.9%.

– Elliott Smith

Daimler Trucks shares soared more than 13.5% in early trading to an all-time high on Friday after posting a record full-year profit and announcing a 2 billion euro ($2.16 billion) share buyback program. Updated value.

The German truck maker posted a better-than-expected pre-tax profit of $5.5 billion in 2023, up 39% from 4.4 billion euros a year earlier. Analysts had expected EBIT (earnings before taxes) to be $5.2 billion.

The company also said it would implement a share buyback program over the next 24 months and proposed a dividend of 1.9 euros per share in 2023, up from 1.3 euros a year earlier.

Daimler Chairman Martin Daum said in a statement that 2023 was a record year for the company, but that sales and profits were likely to be flat in 2024 amid “difficult economic conditions.” I warned you.

— Karen Gilchrist

Grifols shares rose more than 19% in early trading to top the Stoxx 600 index after the Spanish drugmaker said it expected operating cash flow generation to more than double in 2024.

Shares in British broadcaster ITV rose more than 14% after it announced it would sell a 50% stake in streaming service Britbox International to BBC Studios for 255 million pounds ($322.04 million).

Daimler Trucks’ shares rose after it reported better-than-expected pre-tax profits in 2023, raised its dividend and announced a new 2 billion euro ($2.16 billion) share buyback program. It rose by 13%.

Swiss transport and logistics company Kuehne & Nagel, at the bottom of the European blue-chip index, fell 13% after announcing its operating profit had halved due to high costs and a weak shipping sector.

– Elliott Smith

The pan-European Stoxx 600 index rose 0.4% in early trading, with tech stocks leading the way with a 1.1% rise as all sectors and major stock exchanges rose.

Germany’s DAX was the best performer in the region, rising 0.7%.

According to IG data, the UK’s FTSE 100 index is expected to rise by about 61 points to open at 7,691, Germany’s DAX index is expected to rise by about 112 points to 17,790 and France’s CAC40 index is expected to add about 42 points to 7,969. ing.

Stephen Dover, chief market strategist at Franklin Templeton, said investors should move from cash to bonds over a period of time.

“Inflation probably won’t be as low as the market expects, and interest rates probably won’t be as low as the market expects,” Dover said, adding: “This is an opportunity for the economy to recover, especially in the bond markets.” Ta. It’s a small harvest. ”

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— Li Yingshan