European markets open for closing, earnings, data and news

Lindsey Stewart, Director of Investment Management at Morningstar, discusses the return of ESG and the importance of a long-term vision.

The pan-European Stoxx 600 fell 0.2% in the late morning, after trimming previous losses by about 0.6%. Industrial fell 1.7% while mining stocks rose 0.8%.

Norway’s central bank on Thursday raised its key interest rate by 25 basis points to 4%, citing resilient economic activity and a tightening labor market.

The Bank of Norway indicated that its monetary policy tightening so far is having an effect and that pressures on the economy are easing, with consumer price inflation subdued but remaining elevated.

“The future policy rate path will depend on economic developments. If the economy develops as currently expected, the interest rate will be raised further in September,” said Bank of Norway Governor Ida Wolden Pasch.

– Elliott Smith

Corporate earnings continue to drive individual share price action in Europe.

Danish speaker manufacturer GN Store Nord and Swedish heating technology company Nibe Industrier fell 9% and 11%, respectively, in early trade after their second-quarter earnings reports.

At the top of the Stoxx 600, Dutch conglomerate Philips added 4%.

– Elliott Smith

The pan-European Stoxx 600 fell 0.4% in early trade, as construction and materials stocks fell 0.8% to lead losses while miners bucked the general downtrend to add 0.8%.

Britain’s FTSE 100 is set to drop by about 49 points to 7,308, Germany’s DAX is expected to drop by about 99 points at 15,690, and France’s CAC 40 is expected to drop by about 51 points to 7,209, according to IG data. .

Bank of America has named a number of European Buy stocks that its analysts are most positive about.

The bank rated the stock based on its “win factor” — its analysts’ most consensus guess that came out of the stock consensus based on price targets and earnings estimates — in its August 11 research note. All names are taken from the FTSE Eurofirst 300 index.

CNBC Pro subscribers can read more here.

– Lucy Handley

Numerous negative signals from China this week suggest that European companies with close ties to the world’s second largest economy may struggle in the coming months.

CNBC Pro’s analysis of sales data found that companies in the mining sector, the automotive sector, luxury goods, semiconductors and high-tech manufacturing are most exposed to China.

CNBC Pro subscribers can read more here.

– Ganesh Rao

The company wants to invest in software names related to artificial intelligence, says Renato Legi of Ark Invest.

While investors have focused largely on Nvidia, which makes advanced graphics processing units used for artificial intelligence operations, Ark Invest wants to “focus on that piece that nobody really cares about,” said Legge, the company’s client portfolio manager.

He explains why two stocks are called the company’s “focus”.

CNBC Pro subscribers can read more here.

– Wizen tan