Home Markets European markets open to close, earnings, data and news

European markets open to close, earnings, data and news

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18 Mins Ago

Stocks on the move: Remy Cointreau up 15%, LVMH 8% higher

Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, speaks during a press conference to present the 2023 annual results of LVMH in Paris, France, January 25, 2024. 

Stephanie Lecocq | Reuters

French drinks maker Remy Cointreau jumped to the top of the Stoxx 600 in early trade, rising 15%, after reporting a smaller than expected decline in third-quarter sales.

Luxury fashion house LVMH also rose 8% as increased fourth-quarter sales signaled a boost for the luxury sector. Christian Dior was also up 8.6%.

At the other end, Swedish telecom company Telia dipped 6% after indicating in its fourth-quarter results that growth could slow this year.

— Karen Gilchrist

12 Mins Ago

Consumer confidence mixed in Europe’s leading economies

Consumer confidence in Germany and France showed a mixed picture for Europe’s economic outlook, new data showed Friday.

Germany’s GfK consumer confidence survey pointed to a fall in sentiment in February, dipping to -29.7 from a downwardly revised -25.4 in January and well below the consensus -24.5.

Meantime, in France, consumer confidence increased to 91, the highest level since February 2022, and better than the 90 expected.

— Karen Gilchrist

8 Hours Ago

CNBC Pro: Buy or avoid China? The pros share their take — and stock picks

8 Hours Ago

CNBC Pro: Goldman Sachs likes this under-the-radar European sector, naming 2 stocks with almost 40% upside

Europe’s power grid is in dire need of an upgrade, Goldman Sachs says, naming stocks it expects to benefit from the network’s expansion and modernization.

“We believe that stocks with a large exposure to power grids will benefit from a solid growth driver, for at least the coming ten years,” they wrote. “Power grids sit in the sweet spot of electrification: besides an accelerating top line, we highlight attractive risk-adjusted returns, which are usually set on a ‘cost plus’ basis.”

Goldman’s analysts named two buy-rated stocks to play the theme.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

An Hour Ago

European markets: Here are the opening calls

European markets are set to open higher Thursday.

The U.K.’s FTSE 100 index is expected to open 31 points higher at 7,563, Germany’s DAX down 25 points at 16,886, France’s CAC up 46 points at 7,508 and Italy’s FTSE MIB up 45 points at 30,342, according to data from IG. 

— Karen Gilchrist

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