Maersk shares rise 5%
Shares in Danish shipping giant Maersk The stock rose more than 5% on Friday after both Barclays and JPMorgan Chase raised their target prices on the stock.
The company was one of the top performers on the Stoxx 600 in early trading.
— Sam Meredith
Reckitt Benckiser shares rise 10%
Shares in British consumer products company Reckitt Benckiser soared more than 10% on Friday after the company was Disclaimer In the case of preterm formula.
The stock, which has fallen more than 14% so far this year, jumped to the top of Europe’s benchmark stock index on the news.
— Sam Meredith
European markets open slightly higher
European markets opened slightly higher on Friday.
Shortly after the opening, the pan-European Stoxx 600 index rose about 0.1%, with various sectors moving in opposite directions.
— Sam Meredith
Annual UK house price growth slows in October
A pedestrian looks at residential properties for sale in an estate agent’s window in Windsor, west London.
Justin Tallis | AFP | Getty Images
Nationwide, a mortgage lender, said UK house prices rose at an annual rate of 2.4% in October. explain Friday’s increase was weaker than September’s 3.2% increase.
The Building Society said house prices rose by 0.1% quarter-on-quarter in October, down from the 0.6% increase in the previous month.
“Despite a significantly higher interest rate environment, housing market activity has remained relatively resilient in recent months, with mortgage approvals approaching pre-pandemic levels,” Nationwide chief economist Robert Gardner said in a statement.
He added: “Even taking inflation into account, solid labor market conditions, with low unemployment and strong income growth, have underpinned steady gains in economic activity and house prices since the start of the year.”
— Sam Meredith
Investment official says U.S. jobs data ‘absolutely critical’ to Fed decision
A job applicant holds a flyer during the New York Public Library’s annual Bronx Career Fair and Expo at the Bronx Library Center in the Bronx, New York, U.S., Friday, September 6, 2024.
Yuki Iwamura | Bloomberg | Getty Images
Isabel Albarran, investment officer at Close Brothers Asset Management, said Friday’s U.S. jobs data will be “absolutely critical” to decision-making ahead of the Federal Reserve’s meeting next week.
Albaran told CNBC’s “Squawk Box Europe” on Friday that it would be “very difficult” to cut interest rates by another 50 basis points at the Fed policymakers’ meeting on November 6-7.
“Labour market data remains absolutely key to the Fed’s decision-making,” Albaran said.
“I think the good news is that jobless claims have been a lot stronger than people expected given the severity of the storm season, but as you mentioned we’ve had strike action so it’s probably a little bit softer. of printing,” she added, referring to hurricanes Helen and Milton and the Boeing strike.
“Given the tremendous resilience we’ve seen in the broader economic data coming out of the U.S., I think the Fed will be relatively optimistic about this,” Albaran said.
— Sam Meredith
CNBC Pro: Ultra-rich wealth managers list 3 stocks to buy before year-end
Stocks have risen this year, with investors remaining bullish on big technology companies but also buying shares of lower-profile companies.
CNBC Pro spoke with Wrise Private Singapore CEO Kevin Teng to get his take on the stocks he was bullish on at the start of the year and what to bet on before the end of the year.
The wealth manager, who serves ultra-high-net-worth individuals in Asia, the Middle East and Europe, revealed his three stock picks, including two unknown names.
CNBC Pro subscribers can read more about the three stocks he’s betting on right now here .
— Amala Balakrishna
European Markets: Here are the opening calls
European markets are expected to open mixed on Friday.
IG data showed that the UK’s FTSE 100 index opened up 8 points to 8,113 points; Germany’s DAX index opened up 6 points to 19,060 points; France’s CAC index rose 8 points to 7,342 points; Italy’s FTSE MIB index fell 22 points. , to 34,008 points.
The move came shortly after European shares closed lower on Thursday, ending October with their biggest drop of the year, as investors weighed a slew of corporate earnings, inflation data and a landmark UK budget.
— Sam Meredith
About The Author
