Stocks, Markets, News & Earnings | Wilnesh News

Auto stocks rose 1.2% on Tuesday afternoon, leading gains in Europe’s benchmark index Stoke 600 index.

Swedish stocks Volvo Cars The company’s shares were up more than 6% as of 2:45 pm London time, while France’s Valeo and Forvia were up 5.5% and 4.7% respectively.

— Sam Meredith

Stocks opened little changed on Tuesday morning as April’s producer price index came in higher than expected.

this Dow Jones Industrial Average, S&P 500 Index and Nasdaq Index Shortly after the opening bell, all trades were near flat.

— Lisa Kailai Han

Swedish fintech Klarna said on Tuesday that a new British holding company had secured the backing of shareholders, clearing a key hurdle for an eventual initial public offering.

In a statement shared with CNBC via email, a Klarna spokesperson said: “Following last year’s announcement, yesterday we informed investors that we have received the necessary investor and regulatory approval to establish a new UK holding company. approve.

Sky News earlier reported that the company expected the first quarter of 2025 (after the next US presidential election) to be the most likely window for a public listing. A Klarna spokesman said the company had no new information to share regarding the timing of the IPO.

Klarna has previously said setting up a UK holding company is a step towards a potential initial public offering, but insisted discussions around a market flotation were still at a “very early stage”.

The move will see Klarna shareholders convert their shares in the Swedish-registered business Klarna Holding Ab into a newly created holding company, Klarna Group plc.

——Ryan Brown

Spanish pharmaceutical company stocks griffles The company’s shares fell more than 5% on Tuesday after short-seller Gotham City Research issued a new report accusing the company of improperly diverting shareholder funds into vehicles held by former executives.

As of 1:00 p.m. London time, the stock narrowed its losses slightly, falling 2.3%.

Gotham has been targeting Grifols since January, when it released a report raising questions about the company’s accounting and debt ratios.

In a statement to CNBC, a Grifols spokesperson said the company “has provided full details of all transactions in its financial statements and specific reports.”

The spokesman added: “All information is public and has been verified by Spanish regulators and our auditors.”

— Karen Gilchrist

The producer price index rose more than expected in April, raising concerns that the Federal Reserve will not be able to cut interest rates as quickly as expected. PPI rose 0.5% last month. Economists polled by Dow Jones expected PPI to rise 0.3%.

However, March PPI data was revised to a decrease of 0.1%.

— Fred Ambert

The producer price index rose more than expected in April, raising concerns that the Federal Reserve will not be able to cut interest rates as quickly as expected. PPI rose 0.5% last month. Economists polled by Dow Jones expected PPI to rise 0.3%.

However, March PPI data was revised to a decrease of 0.1%.

— Fred Ambert

Vodafone The telecoms company reported a 2.2% rise in annual adjusted organic profit, driven by growth in the UK and Germany, sending its shares up 3.5%.

On the other side, German weapons manufacturers Rheinmetall Shares fell 3.1% after reporting lower-than-expected first-quarter profit growth.

— Karen Gilchrist

Following this, Delivery Hero shares rose 19% in early trading declare Uber will acquire its Foodpanda business in Taiwan and buy new shares in the German company for $1.25 billion.

Delivery Hero said in a statement that the deal would allow it to focus resources on other parts of its global business.

— Karen Gilchrist

Anglo American The company on Tuesday outlined a strategic update it said will simplify its business, although it remains busy with acquisitions BHP Group.

The company said the simplification strategy includes options to divest its steelmaking coal, nickel and platinum businesses.

“We expect a radically simple business to deliver sustainable incremental value creation through incremental changes in operating performance and cost reductions,” Chief Executive Duncan Wanblad said in a statement.

A day earlier, Anglo American rejected a takeover bid from BHP Billiton, saying it continued to significantly undervalue the company.

— Karen Gilchrist

The latest data released by the Office for National Statistics on Tuesday showed that the UK unemployment rate rose to 4.3% in the three months to March. The rate was in line with analysts’ expectations and slightly higher than the 4.2% rate in the previous quarter through February.

Salary excluding bonuses in the three months also increased by 6.0% compared with the same period last year, which was stronger than expected. Analysts had forecast wage growth of 5.9%.

The Bank of England will keep a close eye on labor force data and its impact on inflation, although it signaled it may cut interest rates at its next meeting in June.

— Karen Gilchrist

HSBC said last week’s gains suggested markets were emerging from a pullback following a tumultuous period in April.

“With many major indexes back near their year-to-date highs, losses in risk assets are increasingly a thing of the past,” strategist Duncan Toms wrote in a note on Monday. “These broad-based gains are similar again. A Goldilocks rebound.”

Thomas believes that as investors focus on Wednesday’s consumer price index report, “the bar for a stronger surprise is getting higher and higher.” Therefore, the strategist believes that even if it meets expectations, it may be another reason for the climb in risk assets. A catalyst.

— Kim Ha Kyung

One global chip stock is getting so much love that as many as 14 analysts have upgraded their ratings on the stock in the past two weeks.

The stock has soared amid the artificial intelligence craze. It has risen about 35% so far this year and is up 60% from the same period last year.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Barclays said that while value stocks in Europe continue to outperform, growth stocks are currently benefiting from improved forward guidance in the United States.

“A pullback in interest rates from recent highs following the Fed’s dovish turn has further boosted the outlook for economic growth,” strategist Venu Krishna wrote. “We remain positive on U.S. growth while Neutral on value in both areas as peak rates have passed.”

Krishna also reiterated his positive stance on U.S. large-cap stocks versus small-cap stocks.

“In the U.S., the quality and sales/EPS growth style of large-cap stocks (a theme we like) and the interest rate risk faced by highly leveraged small-cap stocks lead us to maintain our positive view on large-cap stocks over small-cap stocks,” he added.

— Lisa Kailai Han

CNBC Pro research found that only three ETFs in the world have achieved double-digit annual returns over the past five years.

These three funds stood out among 8,300 global stock ETFs screened by CNBC Pro using FactSet data.

Analysts also expect two of the three ETFs to post double-digit gains again over the next 12 months.

CNBC Pro subscribers can read more here.

— Ganesh Rao

European markets are expected to open in negative territory on Tuesday.

British FTSE 100 German stocks are expected to open 17 points lower at 8,393 German DAX Index France fell 18 points to 18,718 CAC 5 points lower than Italy at 8,199 FTSE MIB It fell 31 points to 34,451, according to IG data.

Euronext, Eutelsat, Hannover Re, Bayer, Porsche and Vodafone all reported earnings.

— Holly Elliot