13 minutes ago
Phobia falls 12% after warning of job cuts
Shares in French auto parts supplier Phobia fell 12% in early afternoon trading after the company announced full-year results for higher sales and profits, but analysts lowered their price targets for the stock.
Phobia has announced a five-year cost-cutting project that also aims to change its regional mix to reduce dependence on China, which it says could impact up to 10,000 jobs. .
Analysts at HSBC and Deutsche Bank both lowered their price targets on the stock on Tuesday.
See chart…
Phobia stock price.
1 hour ago
Analyst says investment bank was a ‘great story’ for Barclays
Goodbody’s John Cronin talks about Barclays’ earnings and strategic review, as well as the health of banks in Europe and the US.
5 hours ago
Share prices up: Barclays up 5.4%, Anglo American down 3%
Barclays shares rose 5.4% after the company announced major operational reforms in its fourth quarter results, including significant cost cuts, asset sales and restructuring of business units.
French industrial gas company Air Liquide also rose 5.4% after reporting a better-than-expected full-year operating profit and saying it had already met its profit margin target for 2025.
Shares in Anglo American fell 3% after the company announced job cuts at its Amplats unit in South Africa amid falling metal prices.
— Karen Gilchrist
12 hours ago
CNBC Pro: Morningstar strategist names three lesser-known stocks in today’s ‘stock picker market’
The stock market is off to a strong start this year, with the S&P 500 index rising above 5,000 last month. However, continued political tensions and uncertainty over the timing of the Federal Reserve’s interest rate cuts have raised questions about which sectors will perform well, with many market participants predicting that 2024 He is of the view that 2020 will be a year for stock selection.
David Sekera, chief market strategist at Morningstar, agrees. He said the market has “always been a stock-picking market,” but that this year is even more relevant.
He also named three under-the-radar stocks that he currently likes.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
12 hours ago
CNBC Pro: ‘Hidden Gem’: UBS names 5 of the world’s small-cap stocks – one with 77% upside potential
8 hours ago
European Market: Click here for opening call
European markets are set to open in negative territory on Tuesday.
According to IG data, the UK’s FTSE 100 index is expected to open nine points lower at 7,719, Germany’s DAX is down 49 points to 17,039, France’s CAC is down 19 points to 7,745 and Italy’s FTSE MIB is expected to open 9 points lower at 7,719. It is expected to open at 31,676, down 76 points.
Proceeds will be paid by Barclays, InterContinental Hotels Group and Antofagasta. On the data front, the Eurozone current account statistics for December are scheduled to be released.
— Holly Ellyatt
