Stocks on the go: Temenos up 7% and Hellofresh up 6%
Temenos Shares gained more than 7% by mid-afternoon to lead the Stoxx 600 after the Swiss software company announced that CEO Max Chuard was stepping down.
At the bottom of the European premium index is the German company for the delivery of meal kits hellofresh It fell 6% after Exane BNP Paribas downgraded the stock’s rating to “neutral” from “outstanding”.
– Elliott Smith
Eni’s CEO says it will be difficult to find gas in the short term
Claudio Descalzi, CEO of Eni, discusses the three pillars of the energy industry.
EU says the Chinese consumer recovery will come later than expected
Cailyn Birch, global economist at The Economist Intelligence Unit, discusses the impact of China’s reopening on the global economy.
Stocks on the Go: Temenos Up 5%, Tecan Down 4%
Temenos Shares gained more than 5% in early trading to lead the Stoxx 600 after the Swiss software company announced that CEO Max Schward was stepping down.
At the bottom of the European Premier Index is the maker of laboratory equipment Citizenship Tecan group It fell 4% after Kepler Cheuvreux downgraded the stock from “buy” to “hold” and lowered its price target.
– Elliott Smith
CNBC Pro: Want an alternative to Tesla? Analysts and fund managers reveal their top EV stocks
CNBC Pro: Analysts Love These 12 Cheap Stocks — And They’re Giving One Up 70%
2022 was a bad year for many investors, with most stocks – especially technology – to levels not seen since 2008.
But there may be some opportunities in the chaos, as a number of companies trade at greater discounts on a price-to-earnings basis than they have in recent history.
CNBC Pro checked out these names that are also Wall Street favorites.
CNBC Pro subscribers can read more here.
– Wizen tan
Inflation expectations are weakening again, and traders fully priced in a quarter-point rate hike
The drop in inflation expectations from consumers coincides with expectations that the Federal Reserve is likely to give up the level of interest rate hikes within a few weeks, and end them entirely soon.
A University of Michigan consumer survey released Friday showed that one-year inflation expectations fell to 4%, the third consecutive monthly decline and the lowest level since April 2021.
Meanwhile, traders assigned a 94.2% chance of a 0.25 percentage point rate hike on February 1, when the Fed’s next two-day meeting concludes. This marked another smaller move than the 0.5 percentage point rise in December, which itself was a slowdown from four consecutive 0.75 percentage point increases.
“Inflation expectations are well held and improving with pricing pressures weakening across many sectors. The Fed is likely to rise 0.25% at the next meeting later this month,” said LPL Chief Financial Economist Jeffrey Roach. “We shouldn’t be surprised if the Fed starts talking about stopping in the near future.”
– Jeff Cox
European Markets: Here are the opening calls
European markets are heading for a higher open on Monday as investors gauge inflation expectations globally After the positive signals from the US data last week.
United kingdom FTSE 100 index The index is expected to open up 10 points at 7856, the German Dax 84 points higher at 15,174 in France kk It rose 43 points at 7063 and Italy FTSE MIB It rose 142 points to 25,895, according to IG data.
Data releases include the German ZEW Economic Sentiment Survey for January and Italy’s preliminary inflation figures for January. The World Economic Forum begins in Davos, Switzerland, on Monday.
– Holly Ellytt
“Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst.”