19 hours ago
More data needed until ECB can rule out further hikes, says member Kazimír
Peter Kazimír, Governor of the National Bank of Slovakia, during the European Central Bank Forum on Central Banks, June 29, 2022, in Sintra, Portugal.
Horacio Villalobos | Corbis News | Getty Images
Slovak Central Bank President Peter Kazimír on Monday poured cold water on the narrative that the European Central Bank is done with interest rate hikes following Thursday’s hike.
“I would have liked last week’s interest rate hike to be the last. However, common sense tells us to never say never,” Kazimír said.
Inflation and growth forecasts for December 2023 and March 2024 will show whether the central bank is making “unequivocal and steady” progress toward its inflation target, it said.
He also said it was “premature” for markets to bet on when the first cuts would occur, and that if rates peaked, “we may have to camp here for a while and move on.” winter, spring and summer here. “.
-Jenni Reid
20 hours ago
US stocks little changed
21 hours ago
Oil prices rise Monday on fears of tighter supply
Oil prices rose slightly as investors weighed the prospect of a growing supply gap in the fourth quarter.
U.S. West Texas Intermediate crude gained more than 1% early Monday and hit a high of $91.70, the highest level since November 8, 2022, when WTI traded as high as $92.17. So far this quarter, WTI has gained 29.8%, marking its first positive quarter in three quarters.
Brent crude futures hit a high of $94.78, also hitting their highest level since November 16, 2022, when they traded as high as $94.79.
The VanEck Oil Services ETF (OIH) gained 0.9% in pre-market trading, led by Dril Quip, Liberty Energy and Transocean which were all up more than 1.5%.
—Pia Singh, Gina Francolla
23 hours ago
We’re seeing ‘early tailwinds’ from data in AI, says Informatica CEO
Amit Walia, CEO of Informatica, discusses the role of “good data” in artificial intelligence.
Monday, September 18, 2023, 6:15 a.m. EDT
London remains ‘attractive’ for foreign buyers, says property advisor
Simon Gammon, Managing Partner at Knight Frank Finance, discusses the development of UK house prices.
Mon September 18, 2023, 4:29 a.m. EDT
Stocks on the move: Lonza down 10%, Ocado up 7%
Lonza fell to the bottom of the Stoxx 600 index after the drugmaker announced the departure of its CEO by the end of the month. The company announced the departure of Pierre-Alain Ruffieux “by mutual agreement”, with Albert M. Baehny taking over his responsibilities until a permanent successor is appointed.
Lonza was down more than 10% in morning trading as investors assess what the move means for the earnings outlook.
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Lonza share price.
Shares in Ocado rose 7% after investment bank Jefferies raised its price target for the food delivery company.
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Ocado share price.
Mon, September 18, 2023, 3:20 a.m. EDT
SocGen down 6% after new CEO pledges to cut costs
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Societe Generale share price.
SocGen said it would target a return on tangible equity (ROTE) ratio of 9-10% in 2026, up from a ROTE of 5.6% announced in late June.
The bank returned to profit in the second quarter of 2023, but retail banking revenues in France were down 13.6% compared to the previous year.
—Hannah Ward-Glenton
Mon, September 18, 2023, 3:08 a.m. EDT
European stocks open lower
European markets opened negatively at the start of the week, following their Asia-Pacific counterparts falling as investors anticipate a week of central bank decisions.
The pan-European Stoxx 600 index opened 0.2% lower, with sectors split into positive and negative territory. Mining stocks led marginal gains with a 0.3% rise, while household goods were down 0.5% in early trade.
—Hannah Ward-Glenton
Sun September 17, 2023, 8:08 p.m. EDT
CNBC Pro: Bank of America names 2 European chip stocks as its ‘top picks’ for year-end
Bank of America has named two European chip stocks its “top picks” for the end of the year.
The Wall Street bank’s “top auto semi-trailer pick” is expected to rise more than 60% over the next 12 months.
CNBC Pro subscribers can learn more here.
-Ganesh Rao
Friday, September 15, 2023, 10:09 a.m. EDT
Inflation outlook falls to lowest level since start of 2021, survey shows
The one-year inflation outlook has fallen to its lowest level in more than two and a half years, according to a widely followed confidence gauge released Friday.
The University of Michigan Consumer Confidence Survey showed year-over-year inflation expectations plunged to 3.1% in September, tied for the lowest since January 2021. Additionally, the outlook on five years fell to 2.7%, tied for the lowest since December 2020.
However, the overall sentiment index fell to 67.7, down from 69.5 in August and below the Dow Jones estimate of 69.2.
—Jeff Cox
Sun September 17, 2023, 8:08 p.m. EDT
CNBC Pro: Chinese AI apps are coming – where they matter for monetization
China’s market advantage lies in its large user base, coupled with its ability to accelerate internet penetration to support an online ecosystem – from Taobao’s online sales to self-driving bikes. service.
“The first actors of the [large language model] “The market has already begun the commercialization process, and the regulatory approval for opening more than 10 LLMs to the public has further removed obstacles to monetization,” Nomura analysts said in a September 10 note, citing meetings with businesses and industry experts in Beijing over the past few years. days before.
CNBC Pro subscribers can learn more here.
6 hours ago
European markets: here are the opening calls
European markets are expected to open in mixed territory on Tuesday.
Britain’s FTSE 100 index is expected to open 14 points higher at 7,662, Germany’s DAX up 7 points at 15,274, France’s CAC down 4 points at 7,266 and Italy’s FTSE MIB down 10 points to 28,598, according to IG data.
Profits are expected to come from Kingfisher and Ocado Retail. The data released includes final eurozone inflation figures for August.
—Houx Ellyatt