Stocks, News, Data & Earnings | Wilnesh News

Lord Dominic Johnson, the UK’s minister of state for business and trade, told CNBC that the UK government would be “delighted” if Shein listed on the London Stock Exchange and had had multiple conversations with the company to discuss the matter. Promote the expertise available in the market.

“Shein is a fantastic company, exceptional in many ways, and the scale, the way it has achieved scale over the last few years is incredible, so having a company like that on the London Stock Exchange will be very valuable,” Johnson said.

The Chinese-founded fast fashion giant is reportedly turning its sights on the London Stock Exchange after facing challenges. Regulatory and political challenges Regarding a potential initial public offering in New York. U.S. lawmakers have raised a number of concerns about Shein, including the transparency of its supply chain.

The London Stock Exchange has struggled to attract high-growth companies in recent years compared with markets in Asia and the United States, recently losing key players including travel group TUI and cybersecurity firm Darktrace.

However, British computing startup Raspberry Pi said last week it planned to list its shares in London.

CNBC has reached out to Shein for comment.

—Jenny Reed

Cartier owner’s shares Richemont Group It led gains in morning trading in Europe, rising 5.3% in midday trading in London.

Analysts at Jefferies on Monday raised their target price on the stock to CHF165 ($181.53) from CHF155, while UBS, Telsey Advisory Group and Bryan, Garnier & Co both raised their price targets for Richemont.

The Swiss luxury retail group reported record annual sales on Friday and named Nicolas Bos, the head of French jeweler Van Cleef & Arpels, as its new chief executive.

Video game services company stocks keyword studio Shares were up 63% at 11am in London, reaching their highest level since May 2023, after private equity group EQT confirmed over the weekend that it was in advanced talks to acquire the company.

EQT is providing Keywords shares are priced at £22.50 ($28.60) each – a premium of more than 70% to Friday’s closing price of £14.70.

Dan Boardman-Weston, chief executive and chief information officer of BRI Wealth Management, said the acquisition was an example of investors realizing the opportunity in “cheap” UK stocks.

“It just goes to show how undervalued the UK stock market is, particularly small and mid-cap stocks,” Boardman-Weston told CNBC’s “Squawk Box Europe” on Monday.

“If the end buyer is willing to pay a 70 per cent premium and they still think they can get a figure at that level, that just tells you how cheap the UK market is.”

—Katrina Bishop, Jenny Reid

Shares in budget airline Ryanair fell 1.1% in early trading even as it posted record annual profits and announced a 700 million euro ($761 million) share buyback.

Rising passenger numbers and rising fares have helped the company offset sharp rises in fuel costs and the ongoing impact of Boeing delivery delays.

Ryanair Chief Financial Officer Neil Sorahan told CNBC’s “Squawk Box Europe” on Monday that its share buybacks reflected a “very strong” balance sheet.

“Our top priority is: restoring employees’ wages after COVID-19, raising wages, paying down debt,” he said. “We have been repaying bonds and we had $1.4 billion in total cash at the end of last year, which is why the board now has Confidence that this $700 million will actually be returned to shareholders on a regular dividend basis.”

According to Reuters, CEO Michael O’Leary said in a speech to analysts that recent fare pricing was “softer” than expected.

O’Leary said the airline was willing to cut fares to keep up with the current load factor (number of seats available) of 94% in the April-June quarter, and that weak prices could be the result of a “feeling of recession”. everywhere.

—Jenny Reed

European stocks got off to a cautious start on Monday, with the regional Stoxx 600 opening close to flat, before rising 0.07% at 8:40 am in London.

Germany’s DAX index, Britain’s FTSE 100 index and France’s CAC 40 index all rose by about 0.25%.

Stocks have rallied to record highs recently, but Wells Fargo expects that trend to reverse.

Analyst Christopher Harvey noted that the “bad news = good news” narrative has pushed major stock indexes to new records. However, he believes the market is unlikely to continue higher on a sustained basis, at least for now.

“Expect near-term volatility and a year-end rebound to our SPX 5535 target,” he wrote.

Harvey’s end of the year S&P 500 Index The target represents a 4.5% upside for the benchmark.

— Lisa Kailai Han

UBS said in a report on Friday that weak economic data in recent weeks supports the view that investors may finally get some highly anticipated interest rate cuts in 2024.

“We continue to believe that recent economic data supports our view that a return to deflation should allow the Fed to begin easing policy later this year,” the bank wrote.

UBS added that price pressures in categories such as housing have also eased in recent months, which should help lower overall inflation.

— Lisa Kailai Han

European markets are expected to open higher on Monday.

British FTSE 100 The German stock index is expected to open 16 points higher at 8,433 German DAX Index France rose 51 points to 18,759 CAC Up 27 points to 8,186 points, Italy FTSE MIB It rose 130 points to 35,194, according to IG data.

Proceeds are from Ryanair. The data release includes German producer prices for April.

— Holly Elliot