Stocks, US inflation data and earnings | Wilnesh News

Pandora CEO Alexander Lacik told CNBC on Wednesday that the company has been moving “from being just about glamour, to being viewed more as a complete jewelry brand” in recent years.

Before that, “the brand’s strategy over the years was essentially to drive our appeal and carrier business,” he said. Lacik explained that the company has a “significant” market share in watches but only a small share in other areas of the jewelry market.

“I have customers coming in and they’re decorating themselves with necklaces and earrings and other jewelry elsewhere, but they’re in my store and they’re buying jewelry there and they obviously love the brand, so the whole idea is great, let’s We take a little share of the wallet from everyone else who sells jewelry to them,” he said.

——Sophie Kidlin

Alistair Phillips-Davies, chief executive of British power generation and network operator SSE, will step down in 2025 after 11 years as chief executive. declare Wednesday.

“It’s always a difficult decision,” he said Wednesday on CNBC’s “Squawk Box Europe.” “The company is in a very good location and I think we have a land of opportunity in front of us.”

Phillips-Davis said he believed now was the time to give the SSE board a chance to form a team to lead the company in the long term. A successor has yet to be determined. Phillips-Davis said the board will consider internal and external candidates for his position.

The Shanghai Stock Exchange also released its first-half results on Wednesday. In the six months ended September 30, adjusted operating profit was 860.2 million pounds ($1.09 billion), an increase of 24% over the same period last year.

Shares on the exchange last fell 0.56% at 3:21 pm London time.

——Sophie Kidlin

Bitcoin On Wednesday, the stock extended its post-election rally, topping $90,000. The flagship cryptocurrency was last up 1% at $90,796.

Stocks were largely flat shortly after the opening bell on Wednesday as investors weighed new inflation data and how much of the post-election rebound remains.

The S&P 500 rose 0.1% and the Nasdaq rose 0.09%. The Dow Jones Industrial Average rose 22 points, or 0.09%.

— Brian Evans

Consumer prices rose slightly in October, but the increase was in line with expectations.

The consumer price index increased by 0.2% quarterly, up 2.6% from the same period last year, in line with expectations. Excluding food and energy, CPI rose 0.3% month-on-month, in line with Dow Jones expectations.

— Fred Ambert

法國央行行長兼歐洲央行(ECB)委員弗朗索瓦·維勒魯瓦·德加洛週三表示，美國當選總統唐納德·川普的經濟議程有可能導緻美國通膨捲土重來，並損害全球Economic Growth.

“The plan risks a return to inflation in the United States,” Villeroy told France Internationale. “It could lead to a slight decline in global economic growth. Whether that decline will be felt more sharply in the United States, China or Europe That remains to be seen.”

Trump has floated the idea of ​​imposing tariffs of 10% or higher on all goods imported into the United States, which he said would eliminate the U.S. trade deficit.

But Villeroy predicted that U.S. consumers would bear the brunt of many of the tariffs. “Protectionism almost always means a reduction in consumer purchasing power,” Villeroy said.

— Reuters

Technology, autos and financial services are among the biggest losers this time around Stoke 600 All sectors fell more than 1% on Wednesday morning as European traders assessed the possibility of President-elect Donald Trump imposing trade tariffs when he takes office in January.

However, oil and gas stocks rose 0.7%, banks gained 0.3% and insurance stocks gained 0.2%.

The market continues to digest European tariffs on U.S. exports, and the president-elect has vowed to impose a 10% tariff on all imported products. This move will deal a heavy blow to European producers, and the machinery, pharmaceutical, automotive and chemical industries are expected to be hit. Countries most vulnerable to tariffs.

Export-oriented economies such as Germany and the Netherlands are seen as having the most to lose from potential tariffs.

— Holly Elliot

Chinese social media and gaming company Tencent reported better-than-expected third-quarter profit on Wednesday, driven by growth in gaming, advertising and cloud services.

Tencent reported that third-quarter profit attributable to shareholders surged 47% year-on-year to 53.23 billion yuan ($7.37 billion), while the London Stock Exchange expected net profit for the period to be 46.18 billion yuan.

The company’s revenue rose 8% year-on-year to 167.19 billion yuan, below analysts’ forecast of 167.82 billion yuan.

Read more about this story here

— Evelyn Cheng

Shares in German energy company Siemens Energy soared 19.1% on Wednesday morning after the company raised its medium-term financial targets.

The utility said in its fourth-quarter earnings report late Tuesday that it expects comparable annual revenue growth to be between 8% and 10% next year and remain in the high single digits to low double digits through 2028. within the percentage range.

“For fiscal 2028 margins, we strive to achieve a range of 10% to 12%,” the company said.

“In the critical fiscal year 2024, we achieved all our targets, driven by strong order books and project execution across all businesses. Our focus remains on profitable growth, supported by very favorable market conditions. Ahead of fiscal 2028 The new medium-term goals reflect our leading role in the energy transition. Earnings report.

— Holly Elliot

shares Only takeout Shares of the company surged 20% shortly after the market opened on Wednesday after the company said it had reached an agreement to sell its U.S. unit Grubhub to Wonder for $650 million.

The European food delivery giant said as early as 2022 that it was considering selling its U.S. unit after facing pressure from investors to seek strategic deals.

“The sale of Grubhub to Wonder will enhance Just Eat Takeaway.com’s cash-generating capabilities and will accelerate our growth,” Just Eat Takeaway.com founder and CEO Jitse Groen said in a statement Wednesday.

— Holly Elliot

German Allianz On Wednesday, third-quarter net profit rose 22%, beating expectations and improving its outlook for 2024, helped by fewer natural disaster claims.

The company said its property and casualty division was seen as a particular area of ​​strength as claims due to natural disasters fell from a year ago, although such losses remained high.

Allianz, one of Europe’s largest financial services groups and operator of giant PIMCO, reported net profit attributable to shareholders of 2.47 billion euros (2.62 billion euros) in the three months to September. billion), compared with 2.02 billion euros in the same period last year. The figure beat the consensus forecast of €2.37 billion.

— Reuters

Dogecoin surged late on Tuesday, continuing its post-election surge, after President-elect Donald Trump officially announced the creation of the Department of Government Efficiency, which he dubbed “DOGE” in his announcement.

Trump said in a statement that Tesla CEO Elon Musk and former Republican presidential candidate and Strive Asset Management co-founder Vivek Ramaswamy will lead the unit. They “will pave the way for my administration to dismantle government bureaucracy, cut redundant regulations, cut wasteful spending, and reorganize federal agencies.”

Dogecoin was last up nearly 20%. It has been one of the biggest winners of the post-election rally, rising 153% since Election Day, while Bitcoin has gained 30% during the same period. This week it also surpassed XRP to become the sixth-largest cryptocurrency by market capitalization.

Read more about this story here

— Tanaya Machel

ABN Amro said on Wednesday third-quarter profit beat expectations, driven by continued improvement in net interest income (NII) and strong fee performance.

ABN Amro, one of the three largest banks in the Netherlands, reported a 9% drop in quarterly net profit from a year earlier to 690 million euros ($732.3 million).

A poll conducted by the company showed that this exceeded analysts’ average forecast of 528 million euros.

— Reuters

Shares of a satellite startup have rebounded strongly, retracing losses following President-elect Donald Trump’s recent victory.

The company’s shares fell about 10% two days after the U.S. election, as investors worried that the company might be disadvantaged by Musk’s close relationship with the new U.S. administration.

But analysts say the company currently has “more advanced technology” than SpaceX’s Starlink.

CNBC Pro subscribers can read more here.

— Ganesh Rao

U.S. President-elect Donald Trump’s election victory sent shockwaves through the stock market, leaving investors scrambling to figure out which sectors and stocks would benefit.

Aaron Dunn, Portfolio Manager Morgan Stanley U.S. Value FundNoting there was “tremendous volatility” in markets following the election results as markets repriced a “50/50 election.”

Dunn, who is also Morgan Stanley’s co-head of value stocks, told CNBC’s “Squawk Box Asia” on Tuesday that he had identified three stocks he was betting on after the election results.

CNBC Pro subscribers can read more here.

— Amala Balakrishna

European markets are expected to open higher on Wednesday.

British FTSE 100 The German stock index is expected to open 36 points higher at 8,056 German DAX Index France rises 38 points to 19,081 CAC Up 11 points to 7,356 points, Italy FTSE MIB It rose 68 points to 33,335 points, according to IG data.

Proceeds will come from ABN Amro, RWE, Shanghai Stock Exchange, Alstom, Siemens Energy, Allianz and Telecom Italia.

— Holly Elliot