US election reaction, Bank of England and Fed rates | Wilnesh News

Donald Trump’s historic election victory over Vice President Kamala Harris could weaken the outlook for European stocks, a strategist said.

“I think Europe is viewed as the loser of the Trump presidency,” Emmanuel Cau, head of European equity strategy at Barclays, told CNBC’s “Squawk Box Europe” on Thursday.

“A lot of this is already priced in, right? Certainly over the last six months we’ve seen European stocks underperform because of expectations that Trump is going to win and is going to implement some tariffs that are not going to be good for Europe, and that’s what we The results were obtained yesterday, correct? he added.

“So the risk is priced in, but with Trump elected, it’s still weird,” Kau said.

The comments came after U.S. stocks rose sharply on Wednesday, with the Dow Jones Industrial Average soaring more than 1,500 points. In contrast, European stocks ended lower in the previous session.

— Sam Meredith

Adien Sales grew in the third quarter as the Dutch payments company gained wallet share and added new customers to diversify its merchant portfolio, the report said.

The company, whose technology allows businesses to accept payments online and in-store, reported third-quarter net revenue of $498.3 million ($535.5 million), up 21% from the year on a constant currency basis.

Previously, Adyen’s stock price fell nearly 40% in a single day in August last year due to lower-than-expected sales and declining profits.

Read the full earnings story here.

——Ryan Brown

British supermarket group Sainsbury’s reported that retail underlying operating profit increased by 3.7% in the first half of this fiscal year.

Britain’s second-largest supermarket chain said underlying retail operating profit rose to 503 million pounds ($650.7 million) in the six months to September 14 from 485 million pounds a year earlier.

The company added that it expects underlying operating profits in the retail industry to be between 1.01 billion and 1.06 billion pounds in 2024/2025, an increase of 5% to 10% compared with the previous year.

The supermarket group added that strong growth from Sainsbury’s and its Nectar loyalty scheme was partially offset by a lower contribution from its everyday department store Argos.

Sainsbury’s said in a statement: “With continued growth in Sainsbury’s grocery sales and a strong second half (second half) performance from Argos, we remain confident of delivering strong profit growth for the full year.”

— Holly Elliot

Delivery Hero reported a sharp rise in third-quarter revenue on Thursday and updated its sales forecast, saying it now expects full-year profit to be below the lower end of its previous guidance.

The Berlin, Germany-based food delivery company said sales grew 24% in the three months to September, driven by strong monetization.

Gross merchandise value (GMV), the total value of orders processed through its platform, increased 9% year-on-year, with the Middle East and North Africa (MENA) accounting for the majority of the growth.

Annual GMV in the Middle East and North Africa region grew by 30%, driven by a 25% annual increase in orders in the region. Amid strong growth in the Middle East and North Africa region, Delivery Hero plans to spin off its Middle East business, Talabat, and list it on the Dubai Stock Exchange later this year.

Delivery Hero also updated its guidance on Thursday, noting that it now expects full-year revenue growth to reach the upper end of its guidance of 18% to 21%.

At the same time, Delivery Hero said that full-year adjusted earnings before interest, tax, depreciation and amortization (EBITDA) is now expected to be between 725 million euros and 775 million euros.

— Ryan Brown

The Fed will likely stick to the matter at hand when it wraps up its meeting on Thursday and cuts interest rates again, but it will look to the future amid a suddenly more complicated backdrop.

Financial markets expect the Federal Open Market Committee to cut benchmark borrowing costs by a quarter of a percentage point as it seeks to “recalibrate” policy in an economy with tame inflation and an improving labor market.

However, the focus will turn to the future of Chairman Powell and his colleagues at the Federal Reserve as they deal with changes in the economy and the political earthquake caused by Donald Trump’s stunning victory in the presidential election.

Read more about this story here: The Federal Reserve is expected to cut interest rates again on Thursday. Here’s everything you need to know

— Jeff Cox

Donald Trump’s victory in the 2024 presidential election has raised the bar for China’s fiscal stimulus package expected on Friday.

During the campaign trial, Trump threatened to impose tariffs of 60% or more on Chinese goods sold to the United States. status of trading partners.

But new tariffs – potentially larger – will come at a critical time for China. The country is more reliant on exports for growth due to a sluggish housing market and tepid consumer spending.

Read more about this story here

— Evelyn Cheng

Adien Sales grew in the third quarter as the Dutch payments company gained wallet share and added new customers to diversify its merchant portfolio, the report said.

The company, whose technology allows businesses to accept payments online and in-store, reported third-quarter net revenue of $498.3 million ($535.5 million), up 21% from the year on a constant currency basis.

Previously, Adyen’s stock price fell nearly 40% in a single day in August last year due to lower-than-expected sales and declining profits.

Read the full earnings story here.

——Ryan Brown

Michael Feroli of JPMorgan Chase & Co. said President-elect Trump’s aggressive tariff policy may not be set in stone yet.

“We believe the likelihood of full 10% tariffs in 2025 is low, in part for procedural reasons,” the analyst wrote in a note on Wednesday. “On the other hand, China could face higher effective tariffs ”

Throughout the campaign, the former president vowed to impose tariffs of 10% to 20% across the board on imports entering the United States, while he proposed imposing tariffs of 60% to 100% on Chinese goods.

— Sean Conlon

Now that the market has moved past the election, here’s how stocks will perform through the end of the year, according to Goldman Sachs’ Scott Rubner.

Historically, the stock market has risen from Election Day through the end of the year. However, the S&P 500 and Russell 2000 perform even better in presidential election years, while the Nasdaq Composite performs worse.

Take a look at their historical performance from November 5th to December 31st.

• Historically, looking at data dating back to 1928, the S&P 500 rose an average of 2.68% from November 5 to December 31.
• Typically, looking at data from 1985, the Nasdaq’s average gain from Election Day to the end of the year is 5.53%.
• Since 1979, the Russell 2000 has gained an average of 5.70%.

—Sarah Min

Dutch giant ASML has been a favorite among investors this year, but Goldman Sachs has taken a cautious stance on the stock and removed it from its list of preferred stocks.

In addition to ASML, Goldman Sachs removed several stocks from its European order list for November and updated others

The stocks appear on the investment bank’s “Conviction List – Director’s Cut,” which it says provides a “curated and active” list of Buy-rated stocks.

CNBC Pro subscribers can read more here.

— Amala Balakrishna

Chinese electric vehicle stocks extended losses after Donald Trump won the U.S. presidential election.

Geely Automobile and BYD Company Eikon data showed that Hong Kong’s Hang Seng Index fell the most, falling 2.61% and 3.32% respectively.

Other electric vehicle makers also posted declines, including Nioh Down 2.86% Xpeng Motors down 1.42%. MilletShares of companies that have recently entered the electric vehicle market fell 1.81%.

European markets are expected to open mixed on Thursday.

British FTSE 100 The German stock index is expected to open 14 points higher at 8,159 German DAX Index France rises 25 points to 19,063 CAC Down 12 points to 7,341 points, Italy FTSE MIB It rose 23 points to 33,703, according to IG data.

Proceeds will come from Zurich Insurance, Daimler Trucks, LANXESS, Veolia, Legrand, Novonesis, National Grid, Sainsbury’s, ITV, BT, Telefónica, ArcelorMittal, Munich Re Corporation, Heidelberg Materials, Rheinmetall, Tate & Lyle, EDP, Euronext and AF-KLM.

German trade balance data will be released, and the Bank of England will announce its latest monetary policy decision.

— Holly Elliot