1 hour ago
European stocks rise: H&M rises 8% on strong earnings, Endesa drops 8%
H&M shares surged 8.5% in early trading after the Swedish fashion retailer reported better-than-expected profits in the March-May quarter and a strong start to third-quarter sales. It led the pan-European overall Stoxx 600 index.
Endesa, the Spanish power company, fell 8% at the bottom of the European blue chip index.
– Elliott Smith
1 hour ago
The European market has hardly changed since the opening
The pan-European Stoxx 600 index was near flat in the early days of the market opening, with retail stocks leading the gains with a 1.2% gain, while travel and leisure stocks fell 0.5%.
– Elliott Smith
2 hours ago
European Market: Click here for the opening call
European markets were expected to have mixed openings on Thursday, according to ig.com data.
The FTSE 100 Index fell 3.8 points to 7496.7, while Germany’s DAX fell 6.5 points to 15,948.4 and Italy’s FTSE MIB fell 26 points to 27,736. France’s CAC rose 2.8 points to 7,292.
— Jenny Reed
9 hours ago
S&P 500, Nasdaq Composite Rise for 4th Straight Month
The S&P 500 and Nasdaq Composite are ending June with a bang.
The broad market index rose 4.7% this month, while tech-focused benchmarks rose more than 5%. This marks the fourth straight month for both averages to win. It is also the longest monthly streak since 2021 for both the S&P 500 and the Nasdaq Composite.
The tech sector boosted the S&P 500 index, up 4.5% in June, but the consumer sector also boosted the index. The segment grew 10.4%, courtesy of Carnival, Norwegian Cruise Line and Royal Caribbean. All three travel stocks posted double-digit gains in June, according to FactSet.
The Nasdaq 100 Index is also on a winning pace for the fourth straight month, rising 4.9% in June. His 2020 was the last time the Index achieved this feat.
–Darla Mercado, Chris Hayes
7 hours ago
CNBC Pro: These two globally competitive food delivery stocks surge 120%, says RBC
Shares of the two online food delivery companies are expected to rise 120% over the next 12 months, according to RBC Capital.
Analysts at the investment bank said the rising cost of online food ordering is a sign that food delivery companies are prioritizing profitability over growth, a current trend that online ordering is “becoming the norm.” This change made sense given the
CNBC Pro subscribers can read more here.
— Ganesh Rao
7 hours ago
CNBC Pro: These stocks have increased their dividends over the past five years, with two offering yields of 10% or more
Inflation is starting to moderate somewhat, but may still remain higher than expected.
CNBC Pro screened outperforming stocks with dividend yields of at least 5% and upside potential of 20% or more.
These five stocks were displayed, two of which had dividend yields above 10%.
CNBC Pro subscribers can read more here.
— Tan Weizhen
10 hours ago
23 major banks pass Fed stress test
All 23 U.S. banks included in the Federal Reserve Annual Report stress test Regulators weathered a severe recession scenario while continuing to lend to consumers and businesses. Said Wednesday.
In a release, the Fed said banks were able to maintain minimum capital levels despite an expected loss of $541 billion across the group. Banks including JPMorgan Chase & Co. and Wells Fargo & Co. are expected to release updated plans for share buybacks and dividends after the close of normal trading on Friday.
— Hugh Song
