2 hours ago
Wheat futures continue to rise amid Ukraine’s export concerns
Wheat futures extended higher on Thursday after Russia fired weapons at Ukrainian port cities and storage infrastructure for a third day in the wake of its withdrawal from negotiations over an export deal in the Black Sea.
Chicago wheat futures rose as September ended 2.65% to a three-week high at 9:44 a.m. London time, after rising as much as 8% on Wednesday.
see chart…
Wheat futures contracts expire September.
3 hours ago
Stocks on the move: Electrolux, Icity down 8%; Wisdom increased by 7%.
Shares of Swedish health and hygiene products company Essity and home appliance maker Electrolux fell more than 8% in early trade after missing second-quarter earnings forecasts.
And on top of the Stoxx 600 index, shares of the British pharmaceutical company Hikma rose 7%.
– Elliott Smith
4 hours ago
Cautious opening to Europe, with technology stocks falling on US earnings
The pan-European Stoxx 600 opened 0.2% lower on Thursday, with technology stocks down 2% on weak US earnings, while mining stocks rose 0.8%.
European technology shares followed their US counterparts lower in early trade. Nasdaq 100 futures fell in after-hours trading Wednesday night as Netflix missed second-quarter earnings forecasts, while Tesla CEO Elon Musk and other executives said on an earnings call they expected a slowdown in auto production in the third quarter.
– Elliott Smith
5 hours ago
German producer prices rose year-on-year in June
German producer prices rose 0.1% year-on-year in June, the Federal Statistics Office said on Thursday, slightly beating analysts’ expectations of no annual change.
5 hours ago
Below are the opening invitations in Europe
Britain’s FTSE 100 is expected to gain about 2 points at 7590, Germany’s DAX is expected to open about 2 points lower at 16107, and France’s CAC 40 is set to add about 5 points to 7332.
– Elliott Smith
5 hours ago
China’s state-owned banks are buying yuan to slow declines: Reuters
China’s major state-owned banks were seen selling dollars to buy yuan in the offshore spot market in early trading on Thursday. Reuters reported.
Citing two people “with direct knowledge of the matter,” Reuters said one of the sources also revealed that such moves aim to slow the pace of the yuan’s decline.
The external yuan is up 0.66% in the afternoon, trading at 7.1839 per dollar.
8 hours ago
CNBC Pro: Goldman Sachs shares its top stock picks for China AI — and the 2 on its list of convictions
Goldman Sachs mentioned Chinese stocks that it says are likely to benefit from developments in generative AI — and two are on the bank’s damning list of Buy-rated names.
In two research notes dated July 16, Goldman provided an overview of the opportunities and risks created by generative AI and selected stocks that would likely benefit.
CNBC Pro subscribers can read more here.
– Lucy Handley
8 hours ago
CNBC Pro: ASML shares are up more than 30% this year. Here is where Wall Street sees the stock heading
Shares of ASML have surged this year amid buzz around semiconductor and artificial intelligence companies — its Netherlands-listed shares have jumped about 32% in the year so far, while its US-listed shares are up about 40%.
But it faces a number of risks, including tensions between the United States and China.
Where will the arrow go from here? CNBC Pro dug into Wall Street research to find out.
CNBC Pro subscribers can read more here.
– Wizen tan
“Devoted student. Bacon advocate. Beer scholar. Troublemaker. Falls down a lot. Typical coffee enthusiast.”