Investors are waiting for US inflation data

one hour ago

European stocks open slightly higher

European stocks were mostly higher at the open on Wednesday.

The pan-European Stoxx 600 Index rose 0.3% in early trade, with technology stocks adding 1% to lead the gains as most major sectors and stock exchanges rushed into positive territory. Travel and leisure stocks fell 0.6%.

one hour ago

Bank of England: British banks are strong enough to support households and businesses

Andrew Bailey, Governor of the Bank of England, attends the press conference for the Bank of England’s Monetary Policy Report, at the Bank of England, London, Britain, February 2, 2023.

pool | Reuters

The Bank of England said on Wednesday that British banks are strong enough to support households and businesses by squeezing higher borrowing costs and the rising cost of living.

In its Financial Stability Report, the central bank noted that UK households and businesses are in a safer position than they were before the financial crisis, with a lower proportion of household income being spent on mortgage payments and a lower proportion of business spending used to service debt. .

“High interest payments on loans mean that some households and companies may not be able to make their payments. This increases the risk of some losses for banks,” the bank said.

“However, UK banks are resilient and are strong enough to continue to support households and businesses during a period of rising interest rates. In line with our rules, they have large capital reserves to absorb losses.”

Although banks have yet to see a rise in the inability of borrowers to meet loan payments, the bank said its interest rate increases will gradually fuel the economy. As such, the full impact was not felt by households and businesses.

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– Elliott Smith

2 hours ago

Here are the opening calls

Britain’s FTSE 100 is expected to gain about 16 points at 7299, Germany’s DAX is set to add about 53 points to 15843 and France’s CAC 40 is expected to gain about 34 points to 7254, according to IG data.

8 hours ago

CNBC Pro: Stocks will fall if the US avoids a recession, says Investec equity strategist

Stock markets could suffer if the US economy outlasts the recession that many believe is just around the corner, according to Investec equity strategist Roger Lee.

He also explained to me why markets have fallen and where to hide when the downturn begins.

CNBC Pro subscribers can read more here.

– Ganesh Rao

8 hours ago

CNBC Pro: Goldman picks a slew of discounted global stocks — and gives two more than 100% up

Analysts at Goldman Sachs picked a number of global stocks that it says trade at a discount — and said two of its picks could rise more than 100% over the next 12 months.

All of the stocks on Goldman’s so-called “Value Buys with High Dividend Potential” appear on Goldman’s list.

“We are examining Buy rated stocks that are trading at attractive valuations relative to their own history … and the broader market (SXXP), where our analysts see upside risks to Consensus 2023/24E EPS [earnings per share]Bank analysts said.

CNBC Pro subscribers can find out which stocks are on the list here.

– Lucy Handley

5 hours ago

New Zealand holds the interest rate at 5.5%, the first halt since October 2021

New Zealand Central Bank I kept the reference interest rate at 5.5%, marking the RBNZ’s first halt since October 2021.

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The RBNZ said the current level of interest rates is “constraining spending and inflationary pressure as expected and required.”

However, the central bank said interest rates still need to “remain at a constrained level for the foreseeable future”, to ensure that consumer inflation returns to its target range of 1-3%.

– Lim Hwi Ji

6 hours ago

Japan wholesale inflation slowed for the sixth consecutive month to 4.1%

The Japanese corporate commodity price index rose A slower pace of 4.1% yoy in Junethe sixth consecutive month in which growth slowed.

Also known as a measure of wholesale inflation, the number is 4.1% lower than May’s revised reading of 5.2%, and also the slowest rate of inflation recorded since April 2021.

The Corporate Goods Price Index measures the price that firms charge each other for their goods and services.

– Lim Hwi Ji

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