UK economic growth fell short of expectations by 0.1% in November; Stirling Falls
Data released by the Office for National Statistics showed that Britain’s gross domestic product grew by 0.1% in November, lower than Reuters’ forecast of 0.2% economic growth.
Shortly after the news was released, the pound fell 0.28% against the dollar and 0.24% against the euro, expanding its losses.
The pound strengthened on Wednesday after lower-than-expected inflation data from the United Kingdom and the United States sparked optimism about the British economy and increased bets that the Federal Reserve would cut interest rates this year.
GBP/USD.
Richemont, the parent company of Cartier, reported quarterly sales growth of 10%
Cartier owner Richemont reported fiscal third-quarter sales rose 10% despite pressure from China, sending a positive signal about the health of Europe’s luxury goods industry during holiday shopping .
Sales rose to 6.2 billion euros ($6.38 billion) at constant exchange rates in the three months to the end of December, which the Swiss luxury brand said was its “highest ever” quarterly sales. Reuters reported that this was well above the 1% increase expected by analysts at Royal Bank of Canada (RBC).
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— Karen Gilchrist
December retail sales data will be released on Thursday
Thursday’s December retail sales report is expected to grow 0.5%, down from the previous month’s 0.7% gain, according to the Dow Jones consensus forecast.
Excluding autos, prices were expected to have risen 0.4% last month, up from a 0.2% gain in the previous month.
The data will be released at 8:30 a.m. ET.
—Sarah Min
Who will buy Ubisoft? most potential suitor
On January 9, Ubisoft said it would delay the release of “Assassin’s Creed: Shadows” and appointed consultants to review strategic options.
Ina Fassbender | AFP via Getty Images
After delaying the launch of the latest Assassin’s Creed game and hiring consultants to review its options, Ubisoft It has been shrouded in speculation about whether a potential acquisition might be underway.
The French video game publisher last week pushed back the release date of Assassin’s Creed: Shadows to March.
It also appointed consultants to review “transformation strategies and capitalistic options to capture maximum value for stakeholders”.
Ubisoft said that “once the transaction materializes, it will notify the market in accordance with applicable regulations.”
CNBC spoke to industry analysts to find out which names they think could be potential buyers for the game maker. Click here to read the full article.
——Ryan Brown
European Markets: Here are the opening calls
European markets are expected to open mixed on Thursday.
British FTSE 100 German stocks are expected to open 9 points higher at 8,306 German DAX Index France fell 26 points to 20,595 CAC Down 15 points to 7,475 points, Italy FTSE MIB It rose 8 points to 35,705, according to IG data.
Trading updates will come from Whitbread, delivery boy and Richemont Group, at the same time Rio Tinto Release of latest operational review. Data releases include German inflation data and UK monthly gross domestic product.
— Holly Elliot
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