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1 hour ago
Stock gains: HelloFresh up 5.5%, Banco Comercial Portugues down 6%
German meal delivery company HelloFresh rebounded on Tuesday after being fined for spamming customers with text messages and emails, rising 5.5% to the top of the Stoxx 600 index.
Meanwhile, Logitech fell 4.5% as sales fell, while Banco Commercial Portugal fell 6.2%.
— Karen Gilchrist
2 hours ago
France’s Sanofi to acquire US pharmaceutical project from Inhibrx
Sanofi’s logo on the facade of its headquarters in Gentilly, near Paris, France, December 11, 2020.
Chesnot | Getty Images
French healthcare company Sanofi has agreed to acquire the development project INBRX-101 from parent company Inhibrx Inc in a deal valued at $2.2 billion, the companies announced on Tuesday.
— Karen Gilchrist
10 hours ago
CNBC Pro: Volkswagen and more: Barclays names European ‘belief’ stock idea, gives one stock 59% upside potential
Barclays has an upbeat forecast for the stock in 2024, expecting a higher but modest return than last year’s extraordinary rally.
The investment bank believes there is still room for stocks to rise if inflation continues to slow and central banks are eventually able to cut interest rates.
CNBC Pro features five companies, including Volkswagen, on Barclays’ European Conviction with Catalyst stocks list of stock ideas with strong upside potential.
Subscribers can read more here.
— Ganesh Rao
10 hours ago
CNBC Pro: JPMorgan and Morgan Stanley are bullish on these US-listed companies in China’s internet space
Morgan Stanley and JPMorgan have named the top picks and themes to watch in China’s internet right now.
Both Wall Street banks signaled it would be an alpha-driven market for the sector.
“We believe alpha-driven investment strategies will continue to offer favorable risk/return in 2024,” JPMorgan said in a Jan. 16 note.
Both banks have nominated their preferred names within the sector. All traded in the US. One called it a “good contrarian long case,” giving it 107% upside potential.
CNBC Pro subscribers can read more here.
— Tan Weizhen
Sunday, January 21, 2024 11:45pm EST
European Market: Click here for opening call
European markets are set to open in positive territory on Monday.
According to IG data, the UK’s FTSE 100 index rose 26 points to 7,488, Germany’s DAX rose 131 points to 16,680, France’s CAC rose 59 points to 7,427 and Italy’s FTSE MIB rose 264 points. It is expected to start at 30,592.
Preliminary figures for euro area consumer confidence statistics for January are scheduled to be released.
— Holly Ellyatt
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