29 minutes ago
LVMH shares up 2.5%
Shares of luxury group LVMH rose 2.5% in morning trading, even as the luxury goods group reported a slowdown in sales.
Sales rose 3% in the first quarter, the company said Tuesday, compared with 17% growth in the same period of 2023, as rising prices weighed on consumers yearning for its Louis Vuitton and Dior brands. .
-Karen Gilchrist
30 minutes ago
European stocks open higher
European stocks opened higher on Wednesday, with the benchmark Stoxx 600 index up 0.12% as of 8:05 a.m. London time.
France’s CAC 40 was up 0.5% and Germany’s DAX was up 0.1%, while Britain’s FTSE 100 was flat.
-Karen Gilchrist
An hour ago
UK inflation slows less than expected to 3.2%
View of the City of London, River Thames and Waterloo Bridge at sunset on February 10, 2024 in London, United Kingdom.
Mike Kemp | In pictures | Getty Images
Inflation in the UK returned to 3.2% in March, new data from the Office for National Statistics showed on Wednesday.
This figure is slightly higher than surveyed economists’ forecast of 3.1%, but down from 3.4% in February. Core inflation, excluding energy, food, alcohol and tobacco, stood at 4.2%, compared to a forecast of 4.1%.
Investors are closely watching the latest data to see when the Bank of England might cut interest rates.
-Karen Gilchrist
7 hours ago
CNBC Pro: ‘Hard to ignore’: Jefferies says this cybersecurity stock could double — even after surging 75% last year
Investment bank Jefferies predicts a nearly 100% increase in the share price of a cybersecurity company from current levels.
The stock appears to have momentum as shares are up 75% over the past year and have more than doubled since hitting an all-time low in early 2023.
CNBC Pro subscribers can learn more here.
-Ganesh Rao
7 hours ago
CNBC Pro: Morgan Stanley named its top global dividend stocks for this quarter
Investing in an increasingly volatile market – amid geopolitical risks, rising bond yields and macroeconomic uncertainty – is no easy feat.
The unpredictability has led some analysts to reiterate their recommendation to buy dividend stocks.
“”The market priced in expectations that the Fed would cut rates starting in March. Talk of “no landing” and “persistent inflation” is on the rise again. This translates into higher US bond yields and particularly favors the outperformance of dividend stocks. ,” Morgan Stanley analysts said in a recent note, calling their shares “high conviction” for this quarter.
CNBC Pro subscribers can learn more here.
-Amala Balakrishner
3 hours ago
European markets: here are the opening calls
European markets are expected to open higher on Wednesday.
Britain’s FTSE 100 index is expected to open 39 points higher at 7,848, Germany’s DAX up 47 points at 17,789, France’s CAC up 52 points at 7,972 and Italy’s FTSE MIB up 93 points to 32,806, according to IG data.
Revenues will come from ASML and Asos. The data released includes UK inflation data for March.
—Houx Ellyatt