Stocks, News, Data and Earnings

Chemicals major OCI topped the Stoxx 600 index in morning trade.

The stock rose 13% after the company said On Tuesday it will review recommendations made in a letter from Capital Partners, which includes the shareholder, which said it trades at a significant discount to its intrinsic value.

Meanwhile, shipping giant Moeller-Maersk fell 25% on its ex-dividend day. Company on Tuesday declared At its annual general meeting it will pay an extraordinary dividend of 2,300 Danish kroner ($335 dollars) in addition to a regular dividend of 2,000.00 DKK per share.

Pete Whitman, partner at Porta Advisors, discusses UBS’s appointment of Sergio Ermotti as CEO.

European stock markets were upbeat in early trade on Wednesday, with the pan-regional Stocks 600 index up 0.5% at 8:20 a.m. London time.

France’s CAC 40 rose 0.65%, Germany’s DAX 0.42% and the UK’s FTSE 100 rose 0.26%.

Banks extended the previous session’s gains, rising 0.5%.

UBS on Wednesday appointed Sergio Ermotti as its new group CEO, following the recent acquisition deal of Credit Suisse.

The move will come into effect from April 5.

Current CEO Ralf Hamers will continue to work at UBS and Sergio B. will advise the bank during a transition period. He is going to work with Ermotti.

Read the full story here.

– Jonah Tan, Jihye Lee

Markets have been hit by volatility in the past month, with some retail investors questioning where to park their money.

If you have $10,000 to invest, where should you put it in the face of uncertainty and how much should you allocate to each asset class? CNBC Pro talks to portfolio managers and investors.

CNBC Pro subscribers can read more here.

– Weissen Don

Stock markets edged higher in the first quarter of 2023, with the S&P 500 and MSCI World Index on track to post a total gain of more than 4%.

This is especially significant after a year of negative returns.

Here, CNBC Pro subscribers can read how markets have historically performed in similar conditions.

– Ganesh Rao

European markets are broadly headed higher on Wednesday.

UK’s FTSE 100 index is expected to drop 2 points to 7,485, Germany’s DAX is expected to rise 35 points to 15,175, France’s CAC is expected to rise 15 points to 7,103 and Italy’s FTSE MIB is expected to rise 57 points to 25,915.

Next up are earnings and data releases including Italian and Russian unemployment figures for February.

– Holly Elliott