European markets close higher
European markets ended higher on Friday, regaining positive momentum as investors digested a batch of new earnings reports.
The pan-European Stoxx 600 index temporarily closed around 1.2% higher, led by construction and materials stocks, which rose 2.1% during the session.
— Sam Meredith
Stock trends: Wartsila rose 12%, Delivery Hero fell 18%
Wartsila surged to the top of the pan-European Stoxx 600 index in afternoon trading.
On Friday, the ship and energy equipment maker report The first quarter of the year “went well,” with the Finland-based company’s order book climbing to a record high. After the news broke, Wärtsilä’s share price rose more than 12%.
Meanwhile, German food delivery giant delivery hero fell to the bottom of the benchmark index.
Chinese food delivery giant Meituan Dianping fell more than 18% on reports that it was recruiting employees in Saudi Arabia, a prospect that could lead to competition with Delivery Hero’s business in the country.
— Sam Meredith
S&P 500, Nasdaq open higher
Traders work on the trading floor of the New York Stock Exchange on April 25, 2024.
Brendan McDermid | Reuters
Thyssenkrupp shares rise 9%
Thyssenkrupp shares rose more than 9% on Friday, boosted by news that the German conglomerate will sell a 20% stake in its steel business to the energy company controlled by Czech billionaire Daniel Kretinsky.
The transaction is expected to be completed during the current financial year, subject to approval by the relevant authorities and Thyssenkrupp’s board of directors. The parties did not disclose the value of the deal.
thyssenkrupp explain On Friday, the two sides were in talks for Kretinsky’s EP Corporate Group to buy a further 30% stake to form a 50:50 joint venture.
— Sam Meredith
PCE rose 2.8% in March
The U.S. Commerce Department reported on Friday that the personal consumption expenditures price index rose more than expected in March.
The inflation measure excluding food and energy rose 2.8% from the same period last year. This was higher than the Dow Jones forecast of 2.7%.
Including food and energy, the price index rose 2.7%, higher than expected 2.6%. Both indicators grew by an average of 0.3% monthly, in line with expectations.
—Samantha Subin
SNB chief says we should avoid thinking that central bank policy can solve all global problems
SNB President Thomas Jordan said on Friday that climate protection was the province of politicians, not central bankers, and that any idea that central bank policies could solve all global problems should be avoided.
“It is also important … that we are serious and not give the impression that we can solve all the world’s problems through monetary policy,” Jordan told the Swiss National Bank’s shareholder meeting, according to Reuters.
He noted that the SNB considered the risks associated with its investments and excluded certain business areas such as coal producers.
Climate activists staged a protest at the Swiss National Bank’s shareholder meeting on Friday, calling on the Swiss central bank to stop investing in companies that activists say are harmful to the environment and carrying out fracking.
——Sophie Kidlin
Euronext boss says CVC’s much-anticipated debut shows IPO market is back
Euronext boss Stéphane Boujnah said on Friday that the long-awaited debut of one of Europe’s largest buyout firms showed the initial public offering market was back on track.
Shares of Luxembourg-based private equity group CVC Capital Partners, which is listed in Amsterdam, were up around 23% on Friday morning. The IPO is widely expected to be one of the largest in Europe this year.
“This is a very strong signal that IPOs are coming back in Europe, especially on the continent,” Euronext’s Boujnah told CNBC’s “Squawk Box Europe.”
“Our product pipeline over the next few months is very, very impressive,” he added.
— Sam Meredith
NatWest shares rise more than 4% after reporting lower-than-expected profit fall
NatWest’s shares traded in Europe were up 4.8% as of 11:13 a.m. London time. report First-quarter profit fell less than expected.
Operating profit before tax for the first three months of 2024 was 1.3 billion pounds ($1.63 billion), down 27% from the same period in 2023.
Analysts had previously forecast pre-tax operating profit of £1.2 billion in the first quarter of 2024. according to Reuters.
——Sophie Kidlin
Saab CEO says: “We need to step up efforts to increase resilience and deterrence”
European countries may increase defense spending because “we have an aggressive neighbor to the east,” but more needs to be done, Micael Johansson, CEO of Swedish defense company Saab, told CNBC on Friday. Work.
“We need to step up and create more resilience and deterrence,” he told CNBC’s “Squawk Box Europe.”
Strengthening means new capabilities should be created and new technologies must be adopted, Johnson said, specifically mentioning air defense systems.
He added that Saab was investing heavily and taking steps to improve capabilities, but more long-term commitments from European governments were needed.
Saab released its first-quarter 2024 results on Friday. explain.
Organic sales growth forecast was raised to 15%-20% from the previous 12%-16%.
Johnson told CNBC that Saab is investing heavily to increase production capacity at its facilities.
“We’re a little ahead of schedule this year and next year in terms of investment. We’re investing heavily in support of weapons and ammunition,” he said, adding that staff numbers had also increased.
——Sophie Kidlin
NatWest first-quarter profits fall 27%
A NatWest Group Plc bank branch in London, England, on Thursday, February 15, 2024.
Bloomberg | Getty Images
nativ westminster bank The decline reported on Friday was slightly smaller than expected at 27% first quarter profit The British bank is trying to fend off competition from other savings and mortgage providers.
Operating profit before tax was 1.3 billion pounds ($1.63 billion) in the first three months of this year, down from 1.8 billion pounds in the first quarter of 2023. according to Reuters.
NatWest chief executive Paul Thwaite said the results showed consumer confidence was returning.
“Despite continued macro uncertainty, customer confidence and activity are improving, with both loans and deposits increasing during the quarter and impairment losses remaining low, reflecting the diversification of our business,” he said in the statement.
National Westminster Bank.
CNBC Pro: Goldman Sachs is optimistic about these two “blockbuster” mobile game stocks that are about to launch, giving them 40% room for upside
Goldman Sachs said investors looking to invest in China’s growing gaming industry should pay special attention to two technologies.
The investment bank expects “China to achieve faster growth starting in mid-2024, supported by game launches and a loose regulatory environment.”
When talking about the opportunities facing the company, the Wall Street bank pointed to the second quarter of 2023 as “an accelerated quarter for the launch of hit games.”
CNBC Pro subscribers can read more here.
— Amala Balakrishna
CNBC Pro: Should investors buy Lululemon on the dip?This is what the fund manager said
Popular Athleisure Brand Stocks lululemon It’s down sharply this year, lagging the S&P 500 by a wide margin.
Its shares were only included in Wall Street indexes in October last year and have fallen about 28% so far this year.
Is this a good deal for investors right now? Infusive Asset Management CEO Jack Dwyer expressed his views.
CNBC Pro subscribers can read more here.
— Weizhen Tan
European Markets: Here are the opening calls
European markets are set to open higher on Friday, recovering from yesterday’s losses.
British FTSE 100 German stock index expected to open 50 points higher at 8,124 German DAX Index France rises 62 points to 17,980 CAC Up 38 points to 8,049 points, Italy FTSE MIB It rose 185 points to 33,857, according to IG data.
Companies including L’Oreal, TotalEnergies and NatWest will release enterprise versions. The data released included home loans in Sweden and retail sales in Spain.
— Karen Gilchrist
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