Stocks, News, Data & Earnings | Wilnesh News

European stocks rebound after opening on Thursday Stoke 600 At 8:23 a.m. London time, the index was up 0.49%. Technology stocks led the gains, rising 1.57%.

German German DAX Index and french CAC 40 Both rose by about 0.5%, while the UK FTSE 100 A slight increase of 0.2%.

—Jenny Reed

A November survey by the British Retail Consortium showed UK consumer confidence remained weak after the Labor government’s landmark first budget in October.

The BRC-Opinium poll found that people’s views on the state of the economy have worsened slightly, while people’s assessments of their own financial situation have improved slightly. Personal spending remained stable in October.

BRC chief executive Helen Dickinson said: “Consumer confidence has changed little since the Budget and many are worried about the economy ahead of Christmas.”

“The last month has clearly had no positive or negative impact on households, but the same cannot be said for the retail sector. With the Budget leading to additional costs of over £7bn by 2025, retailers will have no choice but to raise prices or reduce their impact on jobs and shops. investment.

The sweeping reforms announced by Labour have sparked negative reactions from Britain’s business community, who say higher taxes and looming changes to employment rights are putting pressure on employers.

—Jenny Reed

French spirits group Rémy Cointreau First-half operating profit fell 12.9% to 147.3 million euros ($155.3 million), the report said, a smaller drop than forecast in a company-compiled analyst survey.

Analysts had expected operating profit to fall 20.6%.

CEO Éric Vallat said that the company maintained stable profit margins in the first half of the year through “strict cost management” and implemented a full-year savings strategy of 50 million euros. The drinks maker is grappling with weak demand in the United States and Asia-Pacific and joins other brandy producers in imposing higher tariffs on Chinese exports amid tough economic conditions. China-EU trade dispute.

Consolidated sales declined 15.9% organically during the period.

The company does not expect growth to return to growth in the Americas until the fourth quarter at the earliest, and sales to worsen in the Asia-Pacific region “given the continued lack of visibility on the timing of the recovery in the U.S. and deteriorating market conditions” in China.

The company forecast that overall organic sales will fall by 15% to 18% for the full year, updating the “double-digit decline” forecast released in October.

European markets are expected to open higher on Thursday.

British FTSE 100 The German stock index is expected to open 16 points higher at 8,291 German DAX Index France rises 72 points to 19,334 CAC Up 30 points to 7,173 points, Italy FTSE MIB It rose 98 points to 33,310 points, according to IG data.

There are no major earnings reports on Thursday, but the data released includes inflation in Spain and Germany and economic sentiment data in Europe. Italian and Spanish business confidence data will also be released.

— Holly Elliot

Bitcoin rallied back above $96,000 on Wednesday, recovering slightly from a pullback that plunged below record levels this week.

The price of the flagship cryptocurrency was last up nearly 6% at $96,676.70, while ether was up more than 9% at $3,636.46, according to Coin Metrics. The broader cryptocurrency market, as measured by the CoinDesk 20 index, rose 7%.

Although Bitcoin is widely viewed as a store of value and a digital alternative to gold, the cryptocurrency typically trades in tandem with the stock market. On Wednesday, however, it decoupled from the tech-heavy Nasdaq, which fell 0.6%. The Dow Jones Industrial Average and S&P 500 also fell.

Coinbase rose more than 6% as Bitcoin rallied along with other cryptocurrency stocks.

— Tanaya Machel

According to Redburn Atlantic, President-elect Trump’s proposal to impose high tariffs on imported products could create winners in the stock market, especially companies that help companies manage their supply chains.

Citing U.S.-China trade tensions in 2018-2019, analysts at Redburn said these technology stocks outperformed the market during “a period of supply chain uncertainty.”

CNBC Pro subscribers can read more here.

— Ganesh Rao

% of total stocks S&P 500 Index The percentage above the 200-day moving average is currently 77% and has remained above at least 60% over the past year. Chris Verrone, head of technical and macro research at Strategas, said this was evidence that the market’s fundamentals “remain solid.”

strong moving averagewhich smooths out short-term fluctuations to show the underlying trend in the stock price, “illustrate the persistence of good internal structure,” Verrone wrote to clients on Wednesday.

“Historically, it’s not unusual for early December to be a plateau for the stock market, but the market is still in the middle of its best three-month run ever,” he said. 31 to January 31.

——Scott Schniper

Attractive returns and a wide range of opportunities are among the reasons why the U.S. market has historically dominated among investors.

However, one market observer believes U.S. stocks are expensive and is now looking for opportunities in other, cheaper markets.

“We believe markets outside the U.S. are more attractive from a valuation perspective than in the U.S.,” Morningstar CEO Kunal Kapoor said, revealing that the market has “attractive opportunities.”

CNBC Pro subscribers can read more here.

— Amala Balakrishna