31 minutes ago
ECB celebrates 25th anniversary amid price pressures
Former ECB Deputy Governor Vitor Constancio said rate hikes to fight inflation were “not the time to stop, but the time to pause”.
56 minutes ago
Barclays says US debt ceiling impasse leaves markets with more room for turmoil
Julian Lafargue, chief market strategist at Barclays, said there was more room for turmoil in the stock market as the U.S. debt ceiling negotiations faltered. He added that the long-anticipated U.S. recession remains a possibility.
1 hour ago
British Pound Falls as Inflation Overheats, Yields Rise
The British pound fell 0.3% against the dollar and 0.1% against the euro as inflation in the UK was higher than expected, pushing the headline CPI to 8.7% versus an 8.2% forecast in a Reuters poll of economists.
Core inflation accelerated to 6.8% from 6.2%, fueling speculation that the Bank of England will raise interest rates further.
Berenberg economists said a 25 basis point hike to 4.75% in June is now the baseline scenario, followed by one cut in the fourth quarter.
Yields on British government bonds rose significantly, with 10-year yields rising 8 basis points to 4.243% and 2-year yields rising 22 basis points to 4.353%.
See chart…
British Pound/US Dollar.
2 hours ago
Markets haven’t fully priced in the risk of U.S. debt default yet, analysts say
Sophie Rand Yates, chief equity analyst at Hargreaves Lansdowne, looks at the economic outlook as negotiations to raise the US debt ceiling continue.
3 hours ago
SSE CEO: Need to compete with Europe and America
SSE CEO Alistair Phillips Davis says more investments are needed to ensure energy flexibility and security.
4 hours ago
European stocks fall
European stocks plunged early Wednesday, with the benchmark Stoxx600 index down 1.4%, leaving all sectors and major stock exchanges in the red.
Auto stocks fell 2.3% and mining fell 2.25%. France’s CAC40 fell 1.54%, while the UK’s FTSE100 and Germany’s DAX fell 1.4% and 1.3% respectively.
See chart…
STOXX 600 Index.
6 hours ago
UK inflation falls below 10% for first time since August
UK inflation plummeted in April as energy prices retreated and the impact of Russia’s aggression in Ukraine began to slip away from annual consumer price comparisons.
Headline CPI inflation fell to 8.7% from a year earlier, down from 10.1% in March, but above the consensus forecast of 8.2% in a Reuters poll of economists, the National Bureau of Statistics said. rice field.
Read the full article here.
— Elliott Smith
12 hours ago
CNBC Pro: Goldman Sachs Loves Uber, Meta and Amazon, Ranks them in Priority
Goldman Sachs named Amazon, Uber and Meta as the three tech stocks offering “the most compelling risk and reward” looking ahead to the rest of the year.
Goldman ranked the three companies in order of priority in a May 19 memo to clients.
CNBC Pro subscribers can read more here.
— Ganesh Rao
12 hours ago
CNBC Pro: Fund manager reveals big opportunity in overlooked corner of healthcare
There is an opportunity for pharmaceutical investors, who have been “long undervalued,” said Philip Lippmann, a fund manager at Storebrand Asset Management.
He chose three stocks to play out the theme.
CNBC Pro subscribers can read more here.
— Tan Weizhen
8 hours ago
European Market: Click here for the opening call
European markets are expected to start in negative territory on Wednesday.
The UK’s FTSE 100 Index is down 32 points to 7,727, Germany’s DAX is down 74 points to 16,074, France’s CAC is down 37 points to 7,345, and Italy’s FTSE MIB is down 124 points to start at 27,074, according to IG data. is expected.
Revenue will come from M&S, SSE, Aviva and Julius Baer. The data release will include April’s UK inflation rate and Germany’s Ifo business situation survey.
— Holly Eliyat