Thu, Jan 19, 2023 11:07 a.m. EST
‘It’s important for us to have a voice’: Hydro CEO says EU should impose sanctions on Russian aluminum
Hydro CEO Hilde Merete Aasheim discusses the economic impact of Russia’s war in Ukraine, renewed calls for the European Union to impose sanctions on Russian aluminum and the company’s outlook for 2023.
Thu, January 19, 2023 6:26 AM EST
Davos leaders more optimistic than they would have been a month ago, says BBVA chairman
The president of Spanish bank BBVA, Carlos Torres Vila, said a normalization of the interest rate environment in 2023 would support European banks. He also explained how recent data fueled optimism and that an increase in non-performing loans was not materializing.
Thu, Jan 19, 2023 3:15 a.m. EST
Equities in motion: Allfunds down 7%, Encavis down 6%
UK investment fund platform Allfunds Group saw its shares fall more than 7% to the low of the Stoxx 600 in early trading after HSBC downgraded the stock to ‘hold’ from ‘buy’ and cut its target price.
German power company Encavis fell 6% after Barclays downgraded its stock to “underweight” from “equal weight” and cut its target price.
-Elliot Smith
Wed, Jan 18, 2023 8:38 PM EST
CNBC Pro: Morgan Stanley’s Slimmon Says Stocks Will ‘Surprise’ Wall Street in 2023 – and Names Two He Likes
Investing veteran Andrew Slimmon said he thinks stocks are doing “much better” than most expected this year.
“I’m not so sure about the second half of this year, but I think the surprise is going to be that the stock market is going to do better earlier this year than was almost universally predicted by many strategists on the equity side. selling,” Slimmon, senior portfolio manager at Morgan Stanley Investment Management, told CNBC’s “Squawk Box Asia” on Friday.
He also named two of his favorite stocks.
Pro subscribers can learn more here.
— Zavier Ong
Wed, Jan 18, 2023 10:45 PM EST
CNBC Pro: Veteran investor says ‘tech is dead’, names safer stocks to weather ‘current storm’
After a tough 2022, some investors are returning to tech, but investment veteran Michael Landsberg is letting the sector slide.
He favors safer sectors and shares the names of five companies he hopes to ride out “the current storm”.
Pro subscribers can learn more here.
— Zavier Ong
Wed, Jan 18, 2023 3:27 PM EST
New Year’s rally could be a fake head, says UBS’s Haefele
Investors should prepare for a short-lived good start to the year for equities and tame hopes of inflation peaking, says Mark Haefele, CIO of UBS Global Wealth Management.
“Risk assets had a positive start to 2023 as investors were encouraged by signs of waning inflation and a rapid reopening in China,” he said in a note on Wednesday. “A relatively warm winter also eased concerns about energy shortages in Europe.”
“It is still too early to assume that the inflationary threat has completely passed. While December headline inflation data in the US and Eurozone continued to point to a deceleration, core inflation is always remained well above the central bank’s objectives.”
—Tanaya Macheel
Wed, Jan 18, 2023 8:38 PM EST
CNBC Pro: 2023 is shaping up to be tough – but this ‘outstanding’ stock is rock solid, fund manager says
Many investors are bracing for a tough year, with at least a mild recession looking likely.
Due to the “clouded” economic environment, fund manager Trent Masters of Alphinity Investment Management told CNBC Pro Talks he picks stocks with one key quality: earnings resilience.
He names a “rock-solid” stock that meets that criteria.
CNBC Pro subscribers can learn more here.
—Weizhen Tan
21 hours ago
European markets: here are the opening calls
European markets are heading for a positive open on Tuesday as investors continue to assess the global economic outlook.
Britain’s FTSE 100 index is expected to open 11 points higher at 7,847, Germany’s DAX 17 points higher at 15,364, France’s CAC 17 points at 7,150 and Italy’s FTSE MIB 30 points at 27,086, according to GI data.
BP, BNP Paribas, Siemens Energy and Carlsberg are all set to report earnings, and data releases will include German industrial production for December.
—Holly Ellyatt
