40 minutes ago
S&P 500 opens lower on Thursday
The S&P 500 started Thursday morning in negative territory, adding to weeks of poor performance.
The composite index fell by 0.2%, and the Nasdaq Composite Index fell by 0.4%. Meanwhile, the Dow Jones Industrial Average was little changed.
— Lisa Kailai Han
1 hour ago
Oil prices reach highest in more than a year
Oil prices rose to their highest in more than a year during Asian trading hours as crude oil inventories at major storage hubs fell to their lowest since July last year.
Crude oil inventories in Cushing, Oklahoma, fell to 22 million barrels in the fourth week of September and remain near the lowest operating level, the company said. Data from the U.S. Energy Information Administration (EIA). This was a decrease of 943,000 barrels compared to the previous week.
U.S. West Texas Intermediate futures hit $95.03 per barrel during Asian trading hours, the highest since August 2022. The latest price was $93.16 per barrel.
Brent crude oil, the world benchmark, opened at $97.56 per barrel. The last traded price was $96.03 per barrel.
— Li Ying Xiang, Sarah Ming
1 hour ago
Germany’s inflation rate falls to lowest level since the outbreak of war in Ukraine
German Federal Statistical Office Said Domestic inflation fell more than expected in September and was in line with other countries in the euro area. Consumer prices in the same month rose by 4.3% compared to September 2022, the lowest level since the start of the war in Ukraine.
Analysts polled by Reuters had expected Germany’s inflation rate to fall to 4.5% in September from 6.4% in August.
Food prices continued to show above-average growth, rising 7.5% year-on-year. The rate of increase in energy prices slowed significantly to 1%.
The overall slowdown in consumer price growth in Germany coincides with a decline in euro zone inflation, which fell to 4.5% in September from 5.2% in August.
ING’s Carsten Brzeski said in a note that the new figures further strengthen calls for the European Central Bank to suspend interest rates in October.
“Confidence continues to decline and inflation is falling, although not yet at levels that would give central banks any sense of security or security,” he said.
— Hannah Ward-Glenton
2 hours ago
Ams Osram plunges 29% after announcing debt reduction plan
Shares in Austria-based semiconductor manufacturer Ams Osram fell 29%. announcement A plan to reduce the mountain of debt. The company hopes to raise 2.25 billion euros ($2.37 billion) through a capital increase, issuing new bonds and selling part of its semiconductor business.
See chart…
Ams Osram stock price.
“Firstly, we have strengthened our strategy for structural growth. Second, we have consolidated our semiconductor portfolio by exiting unprofitable businesses,” said Aldo Kamper, CEO of Ams Osram. Third, it makes the organization efficient and responsible.” Extraordinary Announcement to Investors.
“We aim to put our balance sheet on a strong footing so that we can focus fully on executing our strategy for growth, improving profitability and monetizing innovation,” he said.
Ams Osram announced In July, the company announced that its second-quarter profit was at the high end of its forecast and that it would exit some non-core semiconductor businesses to strengthen its portfolio.
— Hannah Ward-Glenton
6 hours ago
The initial price of Schott Pharma shares is approximately 30 euros higher than the listing price.
Schott Pharma listed on the Frankfurt Stock Exchange on Thursday at 30 euros per share, well above analysts’ expectations. The company’s stock price rose 10% in the first few minutes.
See chart…
Shot Pharma stock price.
The medical vial maker on Wednesday set the final purchase price for the company at 27 euros ($28.37) per share. announced The price range for September 18th is between 24.50 and 28.50 euros, Valuation up to 4.1 billion euros.
You can read the full text here.
— Hannah Ward-Glenton
6 hours ago
European market is unstable
European markets started on a choppy note on Thursday, reversing the negative momentum seen for much of the week.
The pan-European Stoxx 600 index opened 0.1% higher, with sectors straddling positive and negative territory. Travel and leisure stocks fell 0.8%, while oil and gas stocks were the biggest gainers, rising 0.8%.
— Hannah Ward-Glenton
12 hours ago
CNBC Pro: UBS downgrades stock of company with 400,000 employees thanks to ‘material uncertainties’ caused by AI
UBS downgraded its shares in the company, which has about 400,000 customer service agents worldwide, citing “significant uncertainties” facing the company due to the rise of artificial intelligence.
The investment bank downgraded the company’s stock from “buy” to “neutral,” citing concerns that new AI tools could disrupt the customer experience industry it dominates.
CNBC Pro subscribers can read more here.
— Ganesh Rao
12 hours ago
CNBC Pro: Morgan Stanley names global stocks likely to be ‘unfavorable’ as yields rise
10 hours ago
European Market: Click here for opening call
European markets are expected to open higher on Thursday.
According to IG data, the UK’s FTSE 100 index rose 20 points to 7,600, Germany’s DAX rose 48 points to 15,259, France’s CAC rose 4 points to 7,072 and Italy’s FTSE MIB rose 73 points to 28,085. expected to begin.
On the data front, preliminary inflation figures for Germany and Spain for September are scheduled to be released, as well as Italian consumer confidence for the same month. I don’t have a big income.
— Holly Ellyatt
