25 minutes ago
The ‘feel good’ of travel drives luxury purchases, says investment director
Speaking on the outlook for luxury goods, Swetha Ramachandran, Investment Director of Luxury Equities at GAM Investments, said that luxury goods are not considered a tourism industry because of the comfort factor travel brings and the tax and price differentials that tourists benefit from. said to be strongly connected.
5 hours ago
European stocks fall
European stocks fell in early trading, with the Stoxx 600 index down 0.3% at 8:27 am British time.
Mining stocks fell 1.2% and household goods fell 1.9% after China’s gross domestic product (GDP) data fell short of expectations.
France’s CAC40 fell 0.6%, Germany’s DAX fell 0.2% and the FTSE100 remained flat.
See chart…
STOXX 600 Index.
6 hours ago
European Market: Click here for the opening call
European stocks are set to get off to a dark start in trading this week, according to IG Data. Germany’s DAX is expected to start 88 points lower at 16,020.
The UK’s FTSE 100 index is down 43.5 points to 7,397, while France’s CAC 40 index is down 56.5 points to 7,322.
— Jenny Reid
10 hours ago
China’s Q2 GDP growth slowed to 6.3%, slower than expected
China’s gross domestic product (GDP) grew 6.3% in the second quarter from a year earlier, below the 7.3% forecast by analysts polled by Reuters.
GDP grew at 6.3% in the second quarter, 0.8% faster than the first quarter and slower than the 2.2% quarter-on-quarter pace recorded in the first three months of the year.
Separately, the unemployment rate for young people aged 16 to 24 hit a new record at 21.3% in June.
— Evelyn Chen
Friday, July 14 2023 3:48 PM EDT
Headline global inflation appears to have peaked, says IMF
Headline inflation appears to have peaked among the Group of 20 (G20) countries. according to International Monetary Fund. However, in most of the G20 countries, especially advanced economies, core inflation is still well above central bank targets.
“There are some early signs of monetary policy spillovers in the fight against inflation, such as tightening bank lending standards in the Eurozone and the United States. Celebrations should be avoided. Lessons from previous inflationary episodes are that accommodative policy too early can undermine inflationary progress,” IMF Managing Director Kristalina Georgieva said in a note on Friday. wrote.
The IMF expects global growth to slow to around 3% over the medium term, below the historical average of 3.8% from 2000 to 2019.
— Ha Kyung Kim
13 hours ago
CNBC Pro: ‘Booming upside’: Shares of this global high-growth tech fund could rise 180%, Berenberg says
Shares of venture capital funds focused on high-growth technology sectors could rise more than 180%, Berenberg said.
Analysts at the bank said they still suggest upside potential of 54%, even if the VC fund’s portfolio lacks growth and is being valued at a 20% discount to peers.
CNBC Pro subscribers can read more here.
— Ganesh Rao
13 hours ago
CNBC Pro: UBS Updates ‘Best Convictions’ Stocks List – Aims to Outperform Major Stock Indices
UBS named a number of U.S. and global stocks expected to outperform major indices in 2023, describing it as an “inflection point” year.
Swiss Bank said in a July 11 research note that the selection was the company’s “most confident” stocks and that the list aims to outperform the MSCI All Country World Index. I will not hesitate to take the department’s contrarian position,” he added. ”
CNBC Pro subscribers can read more here.
— Lucy Handley
