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15 minutes ago
Spanish Grifols bounces back with plans to sue Gotham City foundation over coverage
Shares in Spanish drugmaker Grifols rose 1.9% in morning trading after plunging 28% on Tuesday when hedge fund Gotham City Research claimed the company’s debt ratio was about twice as high as officially reported. .
Grifols said in a statement Wednesday that he will seek financial compensation in court for the reputational damage.
The stock’s rally, which had risen 1.2%, had lost some momentum by 10:30 a.m. London time.
— Karen Gilchrist
2 hours ago
Share prices up: Greggs up 9.5%, Sainsbury’s down 6%
This uncluttered photo taken on Wednesday, May in London, England shows a bag of vegan sausage rolls from the Greggs sandwich chain. 15, 2019.
Bloomberg | Bloomberg | Getty Images
British fast food chain Greggs reported a strong increase in sales, showing inflationary pressures are easing, rising 9.5% to top the Stoxx 600 index.
Meanwhile, British supermarket chain Sainsbury’s fell 5% as investors were unimpressed by the group’s sales growth over the Christmas period.
Italian drinks company Davide Campari also fell 5.8% after completing a $1.3 billion stock and bond issue to finance its acquisition of cognac brand Courvoisier.
— Karen Gilchrist
Tuesday, January 9, 2024 12:20 AM EST
CNBC Pro: BofA expects stock prices of three major suppliers to soar as demand for AI grows
Artificial intelligence-themed stocks have recently received a lot of support from analysts such as Bank of America.
In a Jan. 2 note, the investment bank highlighted opportunities for what it calls “key AI suppliers” and named top stocks with strong upside potential right now.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
10 hours ago
CNBC Pro: Is it time to raise money after a bumper 2023 harvest? Here’s what the pros say
2023 has been a great year for stocks, boosted by the artificial intelligence boom and hopes of pausing interest rate hikes.
After such a strong performance, investors may be asking themselves if it’s time to take profits.
There are still many uncertainties. The Federal Reserve may have hinted at a rate cut in 2024, but it also signaled that there is “extraordinarily high uncertainty” about the direction of policy.
CNBC Pro asked experts for their opinions on whether investors should cash out, and if so, when and how.
CNBC Pro subscribers can read more here.
— Tan Weizhen
6 hours ago
European Market: Click here for opening call
European markets are set to open in negative territory on Wednesday.
According to IG data, the UK’s FTSE 100 index is expected to open 18 points lower at 7,666, Germany’s DAX is expected to drop 59 points to 16,627, France’s CAC is down 20 points to 7,406 and Italy’s FTSE MIB is expected to drop 103 points to open at 30,399.
Transaction details will be provided by Sainsbury’s, JD Sports and Greggs. Italy and France are scheduled to release their industrial production statistics for November.
— Holly Ellyatt
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