9 minutes ago
US stocks start rising
The three major indexes opened higher on Wednesday, reversing losses from the previous two days.
The Dow Jones Industrial Average was up about 0.5% just after 9:30 a.m. ET. The S&P 500 and Nasdaq Composite rose 0.7% and 1%, respectively.
— Alex Harring
1 hour ago
Pound rises slightly against dollar
At the end of the UK’s spring budget announcement, the pound had appreciated slightly against the dollar.
By 1:40pm London time, the pound was trading at $1.2720, up 0.13% against the dollar. Against the euro, it fell 0.13% to 1.16 euros.
— Karen Gilchrist
6 hours ago
UK stocks rise slightly, pound weaker in early trade
6 hours ago
Stocks are on the rise: Score is up 9.7%, Grifols is down 15.1%
Shares in French reinsurer Skor rose 9.7% in early trading after announcing record results for 2023.
Grifols, meanwhile, has fallen 15.1% as it continues to battle declining investor confidence following a damaging report from hedge fund Gotham City Research earlier this year.
— Karen Gilchrist
6 hours ago
DHL Group is not considering acquiring Schenker
German logistics giant DHL Group on Wednesday dismissed rumors that it was considering acquiring Schenker, a subsidiary of Deutsche Bahn.
CEO Tobias Meyer told CNBC that the company is open to acquisitions, but noted that DB Schenker meets its requirements.
“We have a lot of things we can invest in. We’re very interested in the e-commerce space. We didn’t think Schenker was a good fit for us,” Meyer said.
— Karen Gilchrist
7 hours ago
Galderma to be listed on the Swiss Stock Exchange
Swiss skin care company Galderma announced Wednesday that it will list on the Swiss Stock Exchange. CEO Flemming Ornskov described this as the company’s “next natural step.”
Galderma aims to raise about $2.3 billion for the listing, which it says will be used to pay down debt and invest in innovation.
“It’s a great time,” Ornskov told CNBC. “This outlook is very attractive for both the company and the market.”
— Karen Gilchrist
14 hours ago
CNBC Pro: Diversifying your AI efforts – these are the best alternatives to Nvidia, fund managers say
Nvidia may have boomed on the back of the artificial intelligence boom, but many other tech stocks have also benefited.
As with any investment theme, diversification is required.
Veteran tech investor Paul Meeks told CNBC Pro that even though Nvidia is a “great story,” when it comes to AI, “it’s too risky to be in just one company.”
Additionally, one analyst has named two startups that could become the next Nvidia.
CNBC Pro subscribers can read more here.
— Tan Weizhen
14 hours ago
CNBC Pro: ‘Once in a lifetime opportunity’?He lists three stocks that wealth managers are watching right now.
Wealth manager Brian Bendig is bullish on stocks this year and says there are opportunities for investors beyond the headline makers in 2023.
“This year’s earnings outlook is expansionary and we believe there is an opportunity for stock prices to move higher as the earnings slowdown seen for much of last year is behind us,” Bendig, president of MJP Wealth Advisors, said in a note to CNBC. said in a memo to CNBC.
“There are a number of sectors in the market that did not contribute significantly to last year’s returns, including healthcare, industrials, materials, financials and consumer staples, which presents opportunities for investors.”
CNBC Pro subscribers can read more here.
— Amara Balakrishna
10 hours ago
European Market: Click here for opening call
European markets are set to open higher on Wednesday.
According to IG data, the UK’s FTSE 100 index rose 5 points to 7,648, Germany’s DAX rose 29 points to 17,721, France’s CAC rose 8 points to 7,938 and Italy’s FTSE MIB rose 40 points to open at 33,203. It is expected that
Data releases include German trade statistics and euro area retail sales for January. Revenue comes from DHL Group and Legal & General.
— Holly Ellyatt
