Eurozone GDP, Fed meeting in focus

Stocks on the Go: Unicredit up 11%, Philips down 5.8%

UniCredit It continued to trade higher in the afternoon trade, up 11% after Tuesday’s bumper earnings report.

On the other hand, the German arms maker Rheinmetall fell to the bottom of the benchmark, down 6.4%, and Phillips 5.8% sank the news that the workforce will be cut by 13%.

Karen Gilchrist

US stocks open higher

US stocks It opened marginally higher Tuesday, as traders ended a strong month for stocks.

The Dow Jones Industrial Average traded flat in early trade, while the S&P 500 rose 0.1%. The Nasdaq was up 0.2%.

Karen Gilchrist

The eurozone economy recorded a surprising expansion in the fourth quarter, quelling recession fears

Euro-zone It grew 0.1% in the last quarter of 2022according to preliminary Eurostat data released on Tuesday.

Energy prices eased in the latter part of the year, which led to a relief in the broader economic performance of the Eurozone.

The latest figures come after the eurozone reported a 0.3% increase in gross domestic product for the third quarter.

Germany was surprised by the downside at the level of the diagonal collapse. Europe’s largest economy shrank by 0.2% in the fourth quarter of 2022, and analysts now expect Berlin to head into recession.

Silvia Amaro

UK grocery price inflation hits record 16.7%

Market research firm Kantar said on Tuesday that UK grocery price inflation hit a record 16.7% in the four weeks to January 22, up 2.3% from the previous month.

The figure, the highest since the company began tracking data in 2008, represents a further exacerbation of the country’s cost-of-living crisis, which has seen shoppers trade in branded food products to private-label and discount retailers.

Consumers were upset by rising food prices as inflation soared.

Nathan Sterk | Getty Images News | Getty Images

“We thought inflation was coming down; the fact that it’s back up isn’t good news,” Fraser McKevitt, Kantar’s head of retail and consumer insights, told CNBC. The grocers have been “particularly enhancing their brand ranges, with sales of these lines growing steadily over the past nine months.”

Private label lines grew 9.3% during the period, while discount retailers Aldi became the fastest growing grocer for the fourth consecutive month, just ahead of Lidl.

Karen Gilchrist

The portfolio manager says recession in Europe and the US is still very likely

The portfolio manager says recession in Europe and the US is still very likely

Data published on Tuesday showed economic growth in France slowed from 0.2% to 0.1% in the fourth quarter, while retail sales in Germany unexpectedly fell in December.

Joost van Linders, senior portfolio manager at Kempen Capital Management, told CNBC that these and other indicators mean that the picture going into 2023 was not “robust” and that the possibility of a recession in Europe and the United States “is still on the agenda.”

– Jenny Reed

Stocks on the Move: UniCredit Up 7.5%, Rheinmetall Down 6%

UniCredit It was the best performer in early trade, rising 7.5% after the bank a promise It disbursed 5.25 billion euros ($5.69 billion) to shareholders after achieving bumper profits.

German arms manufacturer Rheinmetall 6% despite yesterday declaring She won a contract with the US Army, alongside general motorsTo supply up to 40,000 trucks worth up to $14 billion.

– Jenny Reed

European markets open lower with focus on GDP data and central bank meetings

Europe Stokes 600 The index opened 0.2% lower, extending slice on monday As investors prepare to tease an urgent estimate of Eurozone GDP.

Figures published early Tuesday from France, the second largest economy in the bloc, showed growth slowing from 0.2% to 0.1% in the fourth quarter of 2022. However, this was ahead of expectations.

Most sectors were in the red in early trading, led by financial services, down 0.8%.

However, banks rose 0.6% after that UniCredit And UBS Beat profit expectations.

Perform Stoxx 600 for one week.

The markets are also dominated this week by central bank rate hike decisions due from the US on Wednesday and from the UK and the Eurozone on Thursday.

– Jenny Reed

UniCredit raised its payment target by 40% after achieving record profits

UniCredit CEO says the bank's transformation isn't over yet

UniCredit On Tuesday, he pledged to return 5.25 billion euros ($5.69 billion) to investors after they posted their best profits in more than a decade.

the bank He said Net profit came in at 2.46 billion euros in the three months through December, more than double the average forecast of 1.10 billion euros ($1.2 billion) from analysts polled by the bank.

UniCredit said it expects net profit in 2023 broadly in line with 2022 including its Russia business, having excluded this from its profit target last year in the wake of Russia’s invasion of Ukraine.

It failed to extricate itself from Russia, where it has the 15 largest lenders.

UniCredit share price for a year.

Swiss bank UBS got a boost from higher interest rates, beating expectations in the fourth quarter

UBS CEO says it was

UBSFourth-quarter earnings beat market expectations, but the Swiss banking giant reported a drop in revenue on weak customer activity and warned of an “uncertain” year ahead.

The bank reported net income of $1.7 billion for the fourth quarter of last year, bringing its full-year profit to $7.6 billion in 2022.

Looking ahead, the Swiss lender said revenue for the first quarter of 2023 is set to be “positively affected” by higher client activity and interest rates, as well as by the easing of Covid-19 restrictions in Asia.

However, he was cautious about the broader economic outlook, citing central bank activity as a potential catalyst for market volatility.

UBS said it will buy more of its shares this year.

Read the full story here.

Silvia Amaro

European Markets: Here are the opening calls

European markets are heading for a lower open on Tuesday as investors focus on the upcoming meeting of the US Federal Reserve, which begins today. The two-day meeting will conclude on Wednesday with the announcement of the central bank’s latest interest rate decision.

United kingdom FTSE 100 index The index is expected to open 26 points lower at 7758, the German Dax 79 points lower at 15052, France kk 40 points fell at 7049 and Italy FTSE MIB It fell 125 points at 26,260, according to IG data.

Earnings come from Pets at Home, UBS and Spotify, and the data releases include Eurozone GDP data for the fourth quarter. German and French preliminary inflation data for January are also due.

– Holly Ellytt

CNBC Pro: What one tech fund manager expects from Apple and Alphabet earnings this week

Microsoft It issued a disappointing revenue forecast last week, but its inventory has increased since then. What does that mean for other big tech companies that are set to report their earnings?

Technology fund manager Jeremy Gleeson, who manages the 1.1 billion pound ($1.5 billion) AXA Framlington Global Technology Fund, said there was enough bad news in the pipeline. Microsoft earnings To “create panic” among investors and push them to sell shares.

However, the fact that the stock is up more than 2% later is an “encouraging” sign for the rest of the big tech earnings, Gleeson told CNBC’s “Squawk Box Europe.”

He shared his thoughts on what to expect from Apple and Alphabet this week.

CNBC Pro subscribers can read more here.

– Ganesh Rao

CNBC Pro: Tesla shares are up 30% last week. This is where you see Wall Street going next

Just last week, the electric car maker’s stock jumped more than 30%. after announcing its earnings. This year so far, Tesla shares are up about 44%.

It comes on the heels of a bleak 2022 when Tesla shares fell more than 35% in December and nearly 65% ​​for the year.

After all the volatility, here’s where the Wall Street analysts see the stock heading next:

CNBC Pro subscribers can read more here.

– Wizen tan

CNBC Pro: Can Chinese Stocks Rise Further? An investment bank thinks so – and names its top stock picks

The recovery in Chinese stocks gained steam on Monday, as the benchmark China index came within striking distance of a bull market.

Bernstein analysts believe the rally should go further and reveal their major stocks to play.

Professional subscribers can Read more here.

– Xavier Ong

Leave a Comment