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38 minutes ago
Renault shares rise 5% as EV sector listing plan is withdrawn
Shares in French automaker Renault rose 5% in early trading on Tuesday after the company scrapped plans to list a new electric vehicle and software business.
Renault announced on Monday that it would no longer hold an initial public offering for its Ampere division, the Financial Times reported. Chief Executive Luca DeMeo had previously positioned the division as a 10 billion euro ($10.8 billion) rival to Tesla and Chinese electric car makers.
Renault shares were up 1.7% by 8:30 a.m. London time, after rising 5.13% at the market open on Tuesday.
— Karen Gilchrist
52 minutes ago
Stocks are on the rise: WPP up 6.5%, Delivery Hero down 5%
Logo of the German food delivery service “Delivery Hero”.
Sean Gallup Getty Images
British advertising agency WPP’s share price has risen to the top of the Stoxx 600 after raising its medium-term financial targets on the back of cost-cutting measures.
Meanwhile, German food delivery service Delivery Hero fell 6% after announcing it would sell its stake in Deliveroo amid a widespread cooling in demand for delivery services.
— Karen Gilchrist
53 minutes ago
UK store inflation falls to lowest level in two years
UK store price inflation fell sharply in January, hitting its lowest level in almost two years, new data revealed on Tuesday, due to heavy discounting by retailers around the Christmas period. Ta.
The British Retail Consortium said annual in-store price inflation slowed to 2.9% in January from 4.3% the previous month.
This is the seventh consecutive month of decline and the lowest level since May 2022.
— Karen Gilchrist
8 hours ago
CNBC Pro: Analysts are extremely bullish on this global semiconductor stock and continue to list it as a top stock.
4 hours ago
European Market: Click here for opening call
European markets are set to open higher on Tuesday.
The UK’s FTSE 100 index is expected to rise 45 points to 7,680, Germany’s DAX is expected to rise 71 points to 16,562 and France’s CAC is expected to rise 33 points to 7,673, according to IG data.
Preliminary figures for the euro zone’s fourth quarter gross domestic product (GDP) are scheduled to be announced.
— Holly Ellyatt
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