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2 hours ago
European stock markets start mixed, then turn higher
European stock markets opened on a calm note, with the regional Stoxx 600 index opening flat but up 0.2% by 8:20 a.m. London time.
Sectors remained mixed, with healthcare stocks gaining 1.04%, while technology and mining stocks both fell about 0.6%.
Britain’s FTSE 100 rose 0.25%, while France’s CAC 40 fell 0.1% and Germany’s DAX was flat.
See chart…
STOXX 600 index.
3 hours ago
Türkiye’s inflation rate rises to 64.8%
Turkey’s inflation rate rose to an annual rate of 64.8% in December, accelerating from 62% in November.
Still, the month-on-month inflation rate slowed to 2.9% from 3.3%, slightly below the 65.1% expected by economists polled by Reuters.
The province’s inflation rate reached a peak of 85.5% in October 2022, amid a sharp decline in the lira and Turkey’s central bank maintaining its unusual monetary policy of low interest rates.
The central bank then reversed course and began raising interest rates in June under new governor Hafizeh Gey Erkan.
— Jenny Reid
5 hours ago
CNBC Pro: Goldman adds these stocks to its conviction list – giving them more than 50% upside potential
Goldman Sachs added a number of stocks to its list of top stocks, giving many of them significant upside potential.
The list, called “Conviction List – Director’s Cut,” includes the United States, Europe, and Asia Pacific.
These lists are an “actively selected” selection of the top 15 to 30 stocks rated buy by the bank in each region.
CNBC Pro covered five, with one giving more than 100% upside potential. All price targets are for the 12-month period starting December 2023.
Subscribers can read more here.
— Tan Weizhen
5 hours ago
CNBC Pro: Investment pro says some sectors in China have ‘surprising strength’, names stocks to watch in 2024
China’s economic downturn and real estate issues have left many investors bearish in 2023, but certain parts of the country’s market are seen as holding a lot of promise.
“There was a view of, ‘Why would you invest in that?'” [Chinese economy]?’…I think there are a lot of people who are feeling a little bearish. Perhaps China believes it is on the verge of collapse. I don’t agree with that,” said Kingsley Jones, founder and chief investment officer of Australia-based investment firm Jevons Global.
“I think there are strong parts of the Chinese economy, so instead of buying the entire Chinese economy, you should buy those strengths,” he said, listing sectors and stocks that he is bullish on.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
6 hours ago
European Market: Click here for opening call
European markets are set to open in negative territory on Wednesday.
The UK’s FTSE 100 index is expected to open 16 points lower at 7,717, with Germany’s DAX down 50 points to 16,719 and France’s CAC 16 points lower at 7,514, according to IG data.
Germany’s unemployment rate statistics for December will be released on Wednesday.
— Holly Ellyatt
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