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21 minutes ago
European Central Bank keeps interest rates unchanged
A man takes shelter from the rain with an umbrella as he passes a euro symbol in front of the former European Central Bank (ECB) building in Frankfurt am Main, western Germany.
Kirill Kudryavtsev | AFP | Getty Images
The European Central Bank met market expectations on Thursday by keeping interest rates unchanged at their current record levels.
The central bank kept euro zone deposit rates unchanged at 4% for the third consecutive meeting, reiterating that it would keep them high “for a sufficient period” to bring inflation to its target.
He said recent data “generally confirms” previous medium-term inflation expectations and that the downward trend in underlying inflation continues despite the energy impact.
— Jenny Reid
3 hours ago
Norway’s central bank keeps interest rates unchanged
Norway’s central bank kept interest rates unchanged at 4.5% on Thursday, saying that given the outlook and the balance of risks, rates were likely to remain at that level “for some time to come.”
The decision was widely expected and follows last month’s surprise interest rate hike by Norges Bank as it sought to combat persistently high inflation.
Norges Bank’s Monetary Policy Committee said the overall outlook for the Norwegian economy does not appear to have changed significantly since December.
The European Central Bank is expected to keep interest rates unchanged in the second half of the session.
— Sam Meredith
5 hours ago
Stock prices rise: Nokia up 6%, IG Group down 9%
You will see the new Nokia logo on your mobile and the Nokia logo will appear on your screen.
Null Photo | Null Photo | Getty Images
Shares in Finnish telecoms and tech company Nokia rose 6% on the outlook for higher profits in the second half of 2024.
Meanwhile, British online trading company IG Group announced a fall in profit due to weak market demand, falling 9.2%.
— Karen Gilchrist
13 hours ago
CNBC Pro: Analysts love these biotech stocks, and 4 have more than 100% upside potential.
The healthcare sector may have underperformed over the past few years, but analysts are bullish on the sector, citing biotechnology as an area to watch at the moment.
“Just two weeks into 2024, the healthcare sector has defied its title as a notable laggard in 2023,” Citi said in a recent note.
CNBC Pro screened the iShares Biotechnology ETF and the SPDR S&P Biotechnology ETF to find biotech stocks that performed well last year and that analysts remain positive on.
Subscribers can read more here.
— Tan Weizhen
13 hours ago
CNBC Pro: ASML and more: UBS lists 10+ global stocks to play now
Europe has been hit by a “weak stagnation” weighing on markets, but several sectors and stocks stand out as strong performers for UBS this year as growth stabilizes and inflation slows.
The Swiss investment bank expects European growth to hold steady at 0.6% this year, while global growth slows to 2.6%. This is a conservative estimate compared to the 1.2% growth rate set by the International Monetary Fund.
UBS analysts listed their favorite sectors and over 10 stocks, saying, “Europe’s macro outlook is weak and stagnant, with European stocks slightly down, but pragmatic divergence between sectors and stocks remains strong for another year.” It will continue,” he wrote.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
8 hours ago
European Market: Click here for opening call
European markets are set to open at Thursday’s lows.
According to IG data, the UK’s FTSE 100 index is expected to open 25 points lower at 7,508, Germany’s DAX is expected to drop 39 points to 16,853, France’s CAC is down 16 points to 7,440 and Italy’s FTSE MIB is expected to drop 79 points to open at 30,418.
Revenues come from LVMH and Givaudan.
— Holly Ellyatt
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