2 hours ago
Hong Kong’s benchmark Hang Seng Index ends in bear market zone
Flags of China and Hong Kong flutter and the Hang Seng Index is displayed on a screen outside the plaza complex housing the Hong Kong Stock Exchange (HKEX) in Hong Kong, China, January 21, 2021.
China News Service | China News Service | Getty Images
4 hours ago
Stocks move: Adien falls another 5% after Thursday’s plunge
Adyen shares fell more than 5% in early trading, exacerbating Thursday’s sizable losses as the Dutch payments firm underperformed first-half profit expectations.
Swedish video game and media holding company Embracer Group rose more than 4% to the top of the Stoxx 600 index.
– Elliott Smith
4 hours ago
Negative open in Europe
The European-wide Stoxx 600 index fell 0.4% in early trading, with most sectors and major exchanges slipping into the red, leading retail stocks to lose 0.9%.
Telecommunications bucked the trend, rising 0.3%.
4 hours ago
UK retail sales fell 1.2% in rain-hit July
UK retail sales fell 1.2% month-on-month in July, down 3.2% on an annualized basis, the Office for National Statistics said on Friday, largely due to persistent bad weather.
The figure was well below the consensus forecast of 0.5% economists polled by Reuters and below the 0.6% month-on-month increase in June.
“Consumers are tempted to spend their increasingly squeezed disposable income on last-minute vacation bookings rather than spending at home,” said Carly Donovan, associate partner at McKinsey & Company. We have less money to spend on .
“And with air travel costs up 29.8% year-on-year, vacation bookings have eaten up a larger-than-usual portion of disposable income.”
– Elliott Smith
5 hours ago
Click here for the opening call
UK’s FTSE 100 index is set to drop about 37 points to start at 7,273, Germany’s DAX index is expected to drop about 42 points to 15,635, and France’s CAC40 index is expected to drop about 19 points to 7,173, according to IG data. expected to be.
8 hours ago
Chinese property giant Evergrande files for bankruptcy in U.S. court
Chinese real estate giant Evergrande Group filed for Chapter 15 bankruptcy protection in a U.S. court late Thursday.
The property developer cited restructuring proceedings in Hong Kong, the Cayman Islands and the British Virgin Islands in its Manhattan court complaint.
Evergrande posted losses totaling $81 billion over the past two years in July as it struggled to complete projects and repay suppliers and lenders.
The news comes amid epidemic fears that problems in China’s struggling property sector could spill over to other parts of the economy, despite stagnating growth.
Read the full article here.
— Sumathi Bala
11 hours ago
Japan core inflation eases in July, headline inflation stabilizes at 3.3%
Japan’s core inflation rate fell to 3.1% in July from 3.3% in June, in line with expectations of economists polled by Reuters.
Japan’s core inflation is stripping the price of fresh food.
headline inflation rate July’s increase was 3.3%, unchanged from June’s figure.
The so-called “core-core” inflation indicator, which the Bank of Japan uses to review monetary policy, excluding fresh food and energy prices, was 4.2%, down from 4.3% in June.
— Lim Huisier
11 hours ago
CNBC Pro: These stocks fell back in August, but analysts expect them to bounce back, with 103% upside
August has been a tumultuous month for stocks so far.
For those looking for stocks that have retreated this month but still have upside potential, CNBC Pro screened the S&P 500 and Vanguard FTSE Allworld ex-US indices.
As a result, the stock fell into negative territory in August, but the average price target has risen by at least 30% and is rated Buy by at least half of the analysts it covers.
CNBC Pro subscribers can read more here.
— Tan Weizhen
11 hours ago
CNBC Pro: S&P 500, Treasuries or Berkshire Hathaway? Here’s how value investor Guy Spier invests.
Investors are largely torn between the safety of bonds and the upside potential of equities.
Meanwhile, the U.S. economy is showing signs of healthy growth, and some analysts expect stock prices to continue to soar. At the same time, US Treasury bonds offer him more than 5% in risk-free yields.
Renowned value investor Guy Speier gave his opinion on CNBC’s ProTalk about whether the S&P 500 index fund, Treasuries or Berkshire Hathaway stocks are better long-term investments.
CNBC Pro subscribers can read his response here.
— Ganesh Rao
