Stocks, data and inflation reports

Germany’s harmonized consumer price inflation rate fell to an annual rate of 2.7% in February, according to preliminary figures released by the Federal Statistical Office on Thursday. Compared to the previous month, the inflation rate increased by 0.6%.

This was in line with the forecasts of economists compiled by Reuters.

The decline in inflation reflected regional inflation figures released by several German states earlier in the day, which also suggested that price pressures would ease at the national level.

The inflation rate in January increased by 3.1% from a year ago and decreased by 0.2% from the previous month.

The statistics agency said that despite the suspension of energy price cap regulations, energy prices fell significantly and food price increases slowed significantly compared to the previous year.

Germany’s Economy and Climate Minister Robert Herbeck said last week that the government expects price increases to moderate throughout 2024 and return to the 2% target range in 2025.

— Sophie Kiderin

British healthcare company Haleon rose 7.8%, outpacing the Stoxx 600 index’s rise in early trade, after reporting full-year sales growth of 4.1% and operating profit of 9.4%.

The company said it expects the operating environment to remain challenging in 2024 and expects dividends to increase at least in line with adjusted earnings.

Howden Joinery was also a top performer, also up nearly 8%, following strong full-year results with operating profit growth of 30.8%.

Meanwhile, German manufacturer Ixtron said it expects sales and profits to rise over the coming year, even as fourth-quarter sales beat consensus expectations and met its full-year growth outlook. Despite this, it fell by 13.7%.

— Jenny Reid

A fund manager with a strong track record of outperforming the S&P 500 for two consecutive years has named undervalued stocks that could “easily double.”

The fund returned 31% in 2023, compared to the S&P 500’s return of 24%. It also outperformed with a total return of 1.8% in 2022, when the US benchmark was about to enter a bear market.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Healthcare companies have been gaining momentum over the past year, with investors flocking to weight-loss drug makers such as Eli Lilly and Novo Nordisk.

But within the broader ecosystem, perhaps a lesser-known company stands out for fund manager Freddie Leight.

”[It’s a] It’s a great example of what we’re looking for – to be honest, this is a business I’ve been looking at for about 10 years,” Latitude Investment Management’s chief investment officer said on CNBC Pro Talk on February 21. .

CNBC Pro subscribers can read more here.

— Amara Balakrishna

European markets are set to open higher on Thursday.

According to IG data, the UK’s FTSE 100 Index rose 9 points to 7,627, Germany’s DAX rose 13 points to 17,608, France’s CAC rose 9 points to 7,958 and Italy’s FTSE MIB rose 9 points to open at 32,689. It is expected that

Revenue is expected to come from AF-KLM, Veolia, Adecco Group, EDP, IAG, Ocado, ITV, Man Group, Schroders, Covestro and Anheuser-Busch InBev. The data release includes inflation statistics for France and Germany for February.

— Holly Ellyatt