Stocks, news, data and Davos

32 minutes ago

Sustainability issues have been replaced by other issues at Davos 2024, Philips boss says

Vicky Sybesma, President of Philips and former CEO of DSM, discusses the global climate agenda and government regulations.

one hour ago

Stocks move: Teleperformance up 7.7%, Maersk down 3.7%

French digital business services group Teleperformance led share moves in early afternoon trading, rising 7.7%.

Swiss watch stocks rose 3.3% after the British retailer fell 33% on Thursday, when it warned that full-year results would not meet previous guidance.

Meanwhile, shares of Danish shipping giant Maersk fell 3.7%, as investors continued to monitor the impact of fluctuations in the Red Sea on the company's operations. The company announced on Wednesday Operational partnership With Germany's Hapag-Lloyd, which it said would lead to “efficiency gains.”

See chart…

Maersk share price.

4 hours ago

UK retail sales decline, increasing recession risks

Shoppers walk past shops on Regent Street on the last weekday before Christmas in London on December 22, 2023.

Henry Nicholls | AFP | Getty Images

UK retail sales fell significantly more than expected in December, a sign that the economy may have entered a shallow recession in the second half of 2023.

Office for National Statistics He said Sales volumes fell by 3.2% during the main trading month, after rising by 1.4% in November. Economists polled by Reuters had expected a decline of only 0.5%.

“Today’s release will shave about 0.15 percentage points off real GDP growth in December, raising the chances that the economy will end 2023 in the mildest of a moderate recession,” said Alex Kerr, assistant economist at Capital Economics.

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The British pound fell by 0.25% against the US dollar and 0.27% against the euro, while British bond yields fell.

See chart…

Pound to dollar exchange rate.

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-Jenny Reed

7 hours ago

European Markets: Below are the opening calls

IG data shows European markets are set to open higher, with the FTSE 100 up 46.6 points to 7,506, Germany's DAX up 86.5 points to 16,644, and France's CAC 40 up 43.6 points to 7,444.

-Jenny Reed

12 hours ago

Chipmakers in Asia rose as TSMC expects strong growth in 2024

Chip stocks rose in Asia on Friday after Taiwan Semiconductor Manufacturing Company's upbeat annual outlook the previous day on the back of artificial intelligence-related demand.

TSMC shares rose 4.42%, while shares of South Korean memory chip makers Samsung Electronics and SK Hynix rose 3.21% and 2.42%, respectively.

TSMC expects 2024 to be a “healthy growth year” due to demand for 3nm and 5nm technologies as well as the artificial intelligence boom. This comes after a challenging year for chipmakers amid adverse global macroeconomic conditions and an inventory adjustment cycle.

“TSMC is ideally positioned to benefit from it [AI]. “There is an insatiable appetite for low-power, high-performance chips that will be able to enable AI on devices,” Daniel Newman, principal analyst at Futurum Research, said on CNBC's Squawk Box Asia.

– Sheila Chiang

15 hours ago

CNBC Pro: BYD and more: AllianceBernstein names top Asian stock picks for next six months, gives one more than 60% upside

Many sectors — and stocks — in the Asia-Pacific region look “particularly attractive right now,” according to AllianceBernstein.

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While naming them “Best Asian Stocks for the Next 6 Months,” the Wall Street bank analysts wrote that these stocks “rank highly on a quantitative basis and companies where our Bernstein analysts have a strong positive outlook.”

CNBC Pro subscribers can read more here.

– Amala Balakrishner

15 hours ago

CNBC Pro: Here's Morgan Stanley's “Condemnation List” of Global Dividend Stocks

21 hours ago

AMD, Nvidia, Boston Scientific and Domino's Pizza are among 18 S&P 500 names to reach new highs

Chipmakers Advanced Micro Devices and Nvidia are among several S&P 500 names that hit 52-week highs on Thursday. AMD was trading at all-time highs not seen since the company's initial public offering in September 1972, while Nvidia shares reached levels not seen since January 1999. Other technology and software companies, industry names and hotel chains also reached new highs.

Here are some names that have reached all-time highs:

Stocks in the broad market index that hit 52-week lows include Devon Energy, Exxon Mobil and Humana.

– Piya Singh, Christopher Hayes

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