European markets remain subdued as investors await US inflation data and Fed meeting

17 minutes ago

Biggest riser: Royal Mail owner IDS rises 9%

Shares in Royal Mail owner International Distributions Services rose more than 9% in early afternoon trading after Bank of America upgraded the stock to “buy” from “neutral” on the back of a promising recovery and a union agreement.

33 minutes ago

Hargreaves Lansdown and AJ Bell shares fall as UK regulator warns of charges

Shares in British investment platforms Hargreaves Lansdown and AJ Bell plunged on Tuesday after a British regulator warned 42 companies it could intervene on fees and interest expenses.

Shares in Hargreaves Lansdown fell more than 7% in early afternoon trading, while AJ Bell fell more than 6% after the Financial Conduct Authority said it had written to investment platforms raising concerns about the way they were operating deal with interest income on customers’ cash balances.

Read the whole story here.

-Elliot Smith

An hour ago

European stocks give up slight gains

The European markets gave up the cautious gains from the morning to midday and remained just below the zero line.

The pan-European Stoxx 600 fell 0.1%, with telecommunications stocks losing 0.7%, leading losses, while media stocks gained 0.5%.

3 hours ago

UK wage growth is slowing as the labor market cools

A couple looks at the vacancies in the window of the Reed employment agency in London, England.

Oli Scarff | Getty Images News | Getty Images

Regular wages in the UK rose 7.3% annually in November, compared with 7.8% the previous month – welcome news for the Bank of England ahead of its monetary policy decision on Thursday.

Job vacancies fell again in the three months to the end of November and are now 27% below their peak but still above pre-pandemic levels, while the unemployment rate remained stable at 4.2%.

Stuart Cole, chief macroeconomist at Equiti Capital, said the latest round of data was good news for the central bank in its fight to sustainably bring inflation back to its 2 percent target, but the labor market “remained too strong overall, to point out that this is monetary.” The easing of guidelines will begin in the foreseeable future.”

“With growth numbers to be released tomorrow expected to show a 0.1% fall in output in October and annual core CPI still almost three times above target, monetary policy measures continue to come from opposite directions,” said Cole in an email.

“Overall, the BoE is likely to be in something of an impasse at its meeting this week, forced to continue resisting pressure for lower interest rates to support a slowing economy and instead opt for restrictive policy as it struggles to contain the to bring the consumer price index and wage growth back under control.”

-Elliot Smith

4 hours ago

Biggest risers: Carl Zeiss Meditec rises 8%, Hargreaves Lansdown falls 6%

Carl Zeiss Meditec shares rose more than 8% in early trading after the German medical device company beat full-year sales expectations and offered a more positive outlook for 2023/24 than the market had expected.

At the bottom of the Stoxx 600, British online investment platform Hargreaves Lansdown fell more than 6% after the UK’s Financial Conduct Authority said it had written to 42 firms warning about possible interference with customer fees.

-Elliot Smith

4 hours ago

A lukewarm opening in Europe

European stocks started Tuesday’s session cautiously.

The pan-European Stoxx 600 rose 0.1% in early trading, with household goods leading the way with a gain of 0.6%, while telecommunications stocks fell 0.9%.

-Elliot Smith

11 hours ago

CNBC Pro: The S&P 500 has reached a new high for 2023. Will the rally continue? Here is the HSBC forecast

The S&P 500 index hit a new high for 2023 last week, surpassing 4,600 and continuing its rally since early November. The crucial question for investors now is whether this dynamic can continue in the future.

In addition to using historical data, HSBC used artificial intelligence to analyze the language used in recent quarterly earnings announcements to predict stock market performance.

CNBC Pro subscribers can read more here.

– Ganesh Rao

11 hours ago

CNBC Pro: ‘Top Conviction Call’: Analysts say it’s time to get back into oil – and name stocks to buy

Energy stocks have largely underperformed this year and were the only sector not to gain in the hot November rally – but some analysts are still optimistic.

In fact, Louis Navellier, chairman and founder of Navellier & Associates, said that energy is currently his “most important belief.”

He and Citi named the stocks they like.

CNBC Pro subscribers can read more here.

– Weizhen Tan

8 hours ago

European markets: Here are the opening discussions

European markets are expected to open higher on Tuesday.

According to IG data, the UK’s FTSE 100 index is expected to open 9 points higher at 7,560, the German DAX up 32 points at 16,845, the French CAC up 14 points at 7,567 and the Italian FTSE MIB up 88 points at 30,493.

The German ZEW indicator for economic expectations for December is just around the corner.

– Holly Ellyatt