Stocks, News, Data, Earnings

UK food price inflation slowed to 6.7% in December from 7.7% the previous month, according to figures compiled by the British Retail Federation.

This will bring the price increase rate to the lowest level since June 2022.

Overall in-store price growth remained unchanged at 4.3%.

“Retailers will continue to do everything in their power to keep prices down in 2024, but there are obstacles ahead, with new border checks on EU imports and business rates charges starting in April leading to more billions of dollars,” said Helen Dickinson, the company’s chief executive. This was announced by the British Retail Consortium.

— Jenny Reid

Energy stocks may have had a tough year, but Goldman Sachs sees a future in big European oil, naming integrated oil stocks as its theme for the new year.

“We’re at a tipping point, with major European oil companies starting to outperform major U.S. oil companies and potentially closing the 40% valuation gap with their U.S. peers,” said an analyst at the investment bank.

That’s why investment banks have given a positive outlook for Big Oil, even as oil prices have risen as major shipping lines and oil carriers halted sailings through the Red Sea. The oil outlook for 2024 is also disappointing, with the International Energy Agency expecting the economic slowdown to continue next year.

Still, Goldman points out that “the major EU oil companies are now being screened as attractive thanks to their enhanced buyback programs, leading to double-digit cash returns for shareholders.” I mentioned it.

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— Amara Balakrishna

Dutch government revokes some qualifications for semiconductor manufacturing equipment manufacturers ASMLhas received a license to export to China two systems used to manufacture advanced chips.

“The license to ship NXT:2050i and NXT:2100i lithography systems in 2023 was recently partially revoked by the Dutch government, affecting a small number of customers in China,” ASML said in a statement. .

The NXT:2050i and NXT:2100i are deep-UV lithography machines used for high-volume production of cutting-edge logic and memory chips.

The company said it does not expect this action to have a material impact on its 2023 financial outlook.

ASML has been restricted from exporting extreme ultraviolet lithography equipment to China by the Dutch government in an effort to contain Chinese chip manufacturing technology. ASML does not currently ship any equipment to China.

— Sheila Chan

From family offices to financial advisors, interest in alternative assets appears to be on the rise, but there seems to be controversy over whether individual investors should invest in them.

Caesar Sengupta, CEO of financial services firm Alta Finance, argues that there is “incredible value in the private market” and that this asset should not be overlooked.

Saxo’s chief investment officer Steen Jacobsen has argued elsewhere that retail investors need to be cautious when dabbling in alternative investments.

“I think you need more knowledge than an individual individual investor to get into these. My advice is not to buy, even if it’s priced perfectly,” he said, adding that he doesn’t know which assets he wants to buy in 2024. He added that he was bullish about the class.

CNBC Pro subscribers can read more here.

— Amara Balakrishna

European markets are set to open higher on Tuesday as investors begin trading in 2024.

british FTSE100 The index is expected to open 20 points higher at 7,742. dachshund France, up 48 points to 16,799 CAC It rose 27 points to 7,570, according to IG data.

There are no major data releases on Tuesday.

— Holly Ellyatt