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24 minutes ago

Stocks that did well last year will do well this year, strategist says

Roger Lee, head of UK equity strategy at Investec, shares his views on the contrasting fortunes of the US and UK stock markets.

An hour ago

Commerzbank CEO: German economy ‘resilient’

Commerzbank CEO Manfred Knof described elements of Germany’s economy as “resilient” in an interview with CNBC’s Annette Weisbach.

“The German Mittelstand is very resilient,” Knopf said when discussing Commerzbank’s return to Germany’s DAX index. “Mittelstand” describes Germany’s medium-sized companies, which typically perform well during times of economic instability.

He also noted that companies are moving away from investing in China and putting more money into North America and Australia.

Commerzbank exited Germany’s blue-chip index in 2018, but rejoined on Monday after taking steps to restore profitability.

Knopf told CNBC that his outlook for the German economy is “better than some people think” because Commerzbank and its customers are in “good shape.”

Knopf said he expected “a little bit more to come,” reflecting the European Central Bank’s recent interest rate hike.

“[A rate of] 3 plus, maybe what we expect,” he said, adding that 3% interest rates “will become normal.”

Commerzbank predicted its 2023 results would be “significantly higher” than those seen in 2022, after the bank delivered a better-than-expected fourth quarter in February.

– Hannah Ward-Glenton

An hour ago

Stocks on the move: SBB down 9.5%, Tegra Pharm down 15%

Nordic property firm Samhällsbyggnadsbolaget was the top European stock in morning trade, gaining 9.5% as the European construction and materials sector rose 1.4%.

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Rolls-Royce extended recent gains, rising 6% after smashing expectations for annual profit.

British veterinary products company Tegra Pharmaceuticals fell 15% after reporting first-half profit fell to £29.7 million from £53.4 million ($63.9 million).

– Jenny Reid

2 hours ago

We expect a 5G market peak that extends over several years, says Nokia CEO

Becca Lundmark discusses the outlook for 5G at Mobile World Congress in Barcelona.

2 hours ago

The UK energy price ceiling was lowered in the spring, but costs remain high

The regulator-set cap on the amount British energy suppliers can charge households has been cut by almost £1,000 ($1,194).

From 1 April to 30 June, bills for both gas and electricity will be reduced by £3,280, down from £4,279 currently. Regulator Ofgem attributed this to the recent fall in wholesale energy prices.

It is the UK government Subsidy A fraction of consumer energy bills up to April 2024 means the average household will pay around £3,000 – more than double the average in 2021, but less than expected without the intervention.

With inflation still running at over 10%, many Britons continue to struggle with the rising cost of living. Workers from various sectors are on a widespread strike demanding wage hike.

– Jenny Reid

3 hours before

Commerzbank shares rose 4% as the bank re-entered Germany’s DAX

Commerzbank shares rose in early trade after Germany’s second-biggest lender rejoined the country’s DAX blue-chip stock index.

3 hours before

European markets open higher

Europe’s Stoxx 600 index rose 0.8% after opening Monday, with all sectors in positive territory,

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This comes after European markets posted their sharpest decline of the year last week. This week, traders will watch inflation prints from France, Spain, Germany, Italy and the Eurozone.

Energy stocks rose 1.43% on Monday, while the insurance sector rose 1.4%.

Germany’s DAX index ended last week’s pessimistic gain of 1.15%, while France’s CAC 40 was about 1% higher and the UK’s FTSE 100 was 0.75% higher.

Check out the chart…

Stoxx 600 Index.

9 hours ago

CNBC Pro: ‘The market has gone too far:’ Chief global strategist predicts when Fed will cut rates

Despite efforts by the US Federal Reserve to tighten monetary conditions, “the market has gone too far,” says Seema Shah, chief global strategist at Principal Global Investors.

The strategist told CNBC how the Federal Reserve might act and when it might cut interest rates, which could lift stock markets.

CNBC Pro subscribers can read more here.

Fri, Feb 24 2023 3:16 PM EST

Baird says investors should ‘control what they can control’

According to Baird analyst Ross Mayfield, the market is currently experiencing the effects of “too much good news at once.” As inflation heats up and the Federal Reserve is expected to continue raising rates, Mayfield advises investors to “control what” [they] can be controlled.”

“First, automate things: dollar cost averaging (investing at regularly scheduled intervals) is a great way to find outperformance in volatile/sideways markets,” Mayfield wrote in a Friday note.

“Second, review your allocation and make sure you’re well-diversified and well-planned.”

– Hakyung Kim

Fri, Feb 24 2023 8:36 AM EST

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Fed master says rates need to go above 5% to control inflation

Cleveland Federal Reserve President Loretta Mester said on Friday that interest rates will need to stay higher as inflation eases.

“I see that we need to bring interest rates above 5%,” he told CNBC’s Steve Leisman during a “Squawk Box” interview. “We’ll find out how much higher. It depends on how the economy develops over time. But I think we need to be above 5% to get inflation on a sustainable downward path. Up to 2%.”

Jan. Mester recently reported that he was among a small group of central bank officials on 31-Feb. 1 The Federal Open Market Committee approved a half-percentage-point rate hike rather than a quarter-point move.

– Jeff Cox

9 hours ago

CNBC Pro: Investor Says Tech Isn’t Bottoming Out Yet – And Reveals FAANG Stocks To Avoid

A bear market rally or the new bull market? Market pros are undecided about this year’s tech bounce, but investor Mark Howdin thinks the worst is yet to come.

While FAANG stocks are popular with many investors, Haddin believes some are riskier bets than others.

Pro subscribers can read more here.

– Javier Ong

7 hours ago

European markets: Here are the opening calls

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