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4 hours ago
Stock prices rise: Inchcape falls 9.3%, Thales rises 6.8%
Shares in British car company Inchcape fell 9.3% after the company said it expects growth to slow next year, despite posting higher profits in 2023.
Elsewhere, France’s Thales rose 6.8% after announcing higher profits and sales in its full-year results.
— Karen Gilchrist
12 hours ago
CNBC Pro: We’re in a ‘boomer renaissance,’ says top hedge fund manager – names the sectors and stocks responsible for it
Top hedge fund manager David Neuhauser says the world is in a “boom renaissance” and investors should bet big on specific sectors that play to this theme.
“I think the world is in an economic renaissance right now, and we’re seeing some big moves in some stocks,” he told CNBC Pro.
He added that the stock is “not mega-tech, which is indicative of other areas associated with wealth.” [effect] This contributes to expanding profits. ”
CNBC Pro subscribers can read more here.
— Tan Weizhen
12 hours ago
CNBC Pro: Don’t buy EV stocks like Tesla, fund manager recommends ‘phenomenal’ alternatives
Competition has intensified in the electric vehicle industry, particularly between investor-favorite Tesla and Chinese automakers such as Warren Buffett-backed BYD.
But one fund manager has serious concerns about the sector.
“We don’t own any [EV] I believe that an arms race in EV development would not be profitable for many of these companies, including Tesla. So, unfortunately, I would avoid all that,” he added.
The fund manager is instead looking to what he calls “greater integrated coverage,” citing his favorite alternative stocks.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
7 hours ago
European Market: Click here for opening call
European markets are set to open at Tuesday’s lows.
According to IG data, the UK’s FTSE 100 index is expected to open unchanged at 7,633, Germany’s DAX is down 37 points to 17,676, France’s CAC is down 8 points to 7,943 and Italy’s FTSE MIB fell 83 points to 32,846.
Profits from Thales and Schaeffler are expected today. The data release includes euro area producer prices for January.
— Holly Ellyatt
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