Stocks, News, Data & Earnings | Wilnesh News

European Stoke 600 Thursday’s close, up 0.16%, was the regional index’s second positive session, putting the 2024 rally back on track.

Britain’s FTSE 100 rose 0.5%, Germany’s DAX rose 0.2% and France’s CAC 40 was near flatline.

German stocks delivery hero Shares rose 14% in afternoon trading after Bloomberg report report Activist investment firm Sachem Head Capital Management has taken a 3.6% stake in the company and may be seeking a board seat.

Delivery Hero has been struggling to shake off concerns about its liquidity and growth potential after experiencing strong growth due to the pandemic.

at the other end Stoke 600 Index, UK grocery delivery company Ocado down 5%. The company announced Thursday that chairman Rick Haythornthwaite will resign next year.

—Jenny Reed

Volvo Cars shares rose 3.87% at 09:03 am London time on Thursday Set a single-month sales record March.

Volvo Cars said its sales last month were 78,970 vehicles, an increase of 25% compared with the same period last year, setting a global single-month sales record.

Volvo Cars said its new all-electric EX30 model contributed to sales growth, while also achieving “strong sales results” in Europe and the United States.

Total sales of Volvo Cars, controlled by China’s Geely, in the first quarter were 182,687 vehicles, an increase of 12% over the same period in 2023.

Björn Annwall, deputy chief executive of Volvo Cars, said: “These figures reflect the strength of our strategy and product diversity – offering the right mix of fully electric vehicles, plug-in hybrids and light-duty vehicles. hybrid cars.”

“We are making good progress toward our annual sales target of at least 15% growth, and we will focus on increasing EX30 sales in the coming months.”

— Ruksandra Jordash

The Riksbank may cut interest rates for the first time next month, according to minutes of its latest March policy meeting released on Thursday.

“The first rate cut is expected to take place in May or June, and in addition to the inflation outlook, many analysts have mentioned that the timing of the rate cut will depend on the trend of the crown and when other central banks, especially the European Central Bank, cut interest rates.” The meeting minutes stated.

“Markets are pricing in policy rates just above 3% by the end of 2024. The Riksbank’s latest policy rate forecasts are expected to indicate a relatively high likelihood of policy rate cuts in the first half of this year, as well as one or more 2 interest rate cuts. Further cuts in 2024.”

In late March, the central bank Choose to keep the policy rate unchangedThe benchmark interest rate was 4%, and its assessment of inflationary pressures was “still slightly elevated” at the time.

Market participants are paying close attention to the next central bank to follow in the footsteps of the Swiss National Bank. The Swiss National Bank cut its main policy rate by 0.25 percentage points to 1.5% last month.

— Ruksandra Jordash

A Tesla short seller has named two auto stocks that he believes have the potential to provide investors with 100% upside.

Lekander, who holds a short position in Tesla stock, said the electric car maker could go “bankrupt” and its stock price could fall to $14. When the stock price falls, short sellers profit.

The hedge fund manager said the “Tesla bubble” created what he called a “counter-bubble” in the auto industry, causing investors to be overly bearish on companies that were actually doing well.

Lekander identified two auto stocks that could double from current levels as the Tesla bubble bursts. CNBC Pro subscribers can read more here.

— Ganesh Rao

Some investors may be hesitant to buy Tesla right now, but one analyst is bullish on the stock.

Shares of Elon Musk’s auto giant have fallen nearly 14.5% in the past 12 months.

Tesla shares also suffered a heavy hit on Tuesday after the company delivered far fewer cars in the first quarter of this year than analysts polled by FactSet expected.

However, one global auto analyst sees an opportunity to invest in Tesla, especially in the long term.

“Despite today’s performance, the stock is only down about 4.5%,” RBC Capital Markets’ Tom Narayan told CNBC’s “Squawk Box Asia” in April. This makes me think expectations are already low.” 3.

He also outlined other opportunities he sees in the short and long term.

CNBC Pro subscribers can read more here.

— Amala Balakrishna

European markets are set to open higher on Thursday.

British FTSE 100 German index expected to open 7 points higher at 7,936 German DAX Index France rose 1 point to 18,371 CAC 9 points higher than Italy at 8,161 FTSE MIB It rose 26 points to 33,908, according to IG data.

Corporate earnings data will be light on Wednesday, but inflation data from the euro zone and Türkiye will be released.

— Karen Gilchrist