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25 minutes ago
Central banks have made “significant progress” in interest rate cuts, BIS announces
An eagle stands on the facade of the Federal Reserve Building on July 31, 2013 in Washington. Reuters/Jonathan Ernst/
Jonathan Ernst | Reuters
The US Federal Reserve (Fed) and the European Central Bank (ECB) appear poised to make “significant progress” in cutting interest rates this year, the central bank said.
Agustín Carstens, general manager of the Bank for International Settlements, told CNBC on Monday that major central banks have made “very impressive progress” so far in reducing inflation and will soon shift to an accommodative monetary policy stance. suggested that it might be possible.
“If all goes well, I think we will definitely see great progress this year, especially towards the second half of the year,” Carstens told Annette Weisbach.
— Karen Gilchrist
2 hours ago
Stock prices rise: Reckitt Benckiser rises 5.7%, Phoenix Group falls 4.5%
Reckitt Benckiser shares rose 5.7% in early trading, up from losses from the previous session when the stock hit a 10-year low following a U.S. damages lawsuit over Enfamil infant formula. I got some of it back.
French rail operator Alstom also rose 6.4% after announcing plans to run a new passenger train service in the UK.
Meanwhile, British insurer Phoenix Group fell 4.5% after it said it would set aside 70 million pounds ($89 million) for customer relief costs.
— Karen Gilchrist
10 hours ago
CNBC Pro: Tech’s ‘next big thing’ will come from these areas, says UBS – Name stocks with themes
According to UBS, the next decade is likely to favor companies that use technology to disrupt their industries.
The “next big thing” in the technology industry will come from areas such as enabling technologies, including artificial intelligence and cybersecurity, as well as health tech, green tech and fintech, UBS said.
“Taken together, industry leaders in 2030 are likely to emerge from these sectors,” UBS said in a March 14 report.
Below are some names from UBS’s list and a description of each stock. All are listed in the US.
CNBC Pro subscribers can read more here.
— Tan Weizhen
9 hours ago
Nikkei Stock Average leads Asia’s rise, supported by manufacturing stocks
Japan’s Nikkei Stock Average rose more than 2% on Monday, topping the 39,000 yen mark for the first time in 10 days, with manufacturing and healthcare stocks leading the rise.
However, the biggest gainer on the index was financial technology company Rakuten Group, which soared 7.38%.
Other top gainers include automaker Nissan Motor Co., which rose more than 6.5%, and pharmaceutical company Chugai Pharmaceutical, which rose 4%.
The yen fell 0.18% on the strength of the index, trading at 149.29 yen against the dollar.
Friday, March 15 2024 3:12 PM EDT
Oil rises for the week as crude oil market is expected to tighten
A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas, USA, August 22, 2018.
Nick Oxford | Reuters
Crude oil futures fell slightly on Friday but rose this week after rising in the previous two sessions.
West Texas Intermediate’s April contract fell 22 cents, or 0.27%, to settle at $81.04 a barrel. The Brent May contract fell 8 cents, or 0.09%, to settle at $85.34 per barrel.
U.S. crude oil and global benchmarks are up more than 3.5% so far this week.
— Spencer Kimball
10 hours ago
CNBC Pro: Nvidia aside, this ‘supercomputing’ global stock is up almost 100% this year – and is betting big on AI
While semiconductor industry darling Nvidia is making headlines for its impressive stock performance, fueled by excitement around artificial intelligence, a lesser-known European company is poised to see its stock price nearly double in 2024. I’m secretly looking forward to it.
The small-cap company, which had total sales of 52 million euros ($56 million) in the first half of last year, recently signed a 300 million euro deal. He also just received his 150 patents worth $835 million.
CNBC Pro subscribers can read more here.
— Ganesh Rao
6 hours ago
European Market: Click here for opening call
European markets are set to start the week slightly higher on Monday.
According to IG data, the UK’s FTSE 100 index rose 4 points to 7,733, Germany’s DAX rose 36 points to 17,988, France’s CAC rose 8 points to 8,191 and Italy’s FTSE MIB rose 86 points to open at 33,488. It is expected that
There are no major earnings announcements on Monday. The final inflation figures for the euro area are expected to be released in February.
— Holly Ellyatt
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