2 Mins Ago
Stocks on the move: Prudential down 6.5%, Investec up 3.5%
Shares of British insurance company Prudential fell 6.5% despite reporting a rise in 2023 full-year profits, which it said indicated progress in its strategic overhaul.
Meanwhile, British investment firm Investec rose 3.5% after hailing a solid year in 2023, with double-digit earnings growth.
— Karen Gilchrist
4 Hours Ago
Luxury stocks fall on Gucci profit warning; Kering down 14%
Shoppers wait in line to enter a Gucci store on Fifth Avenue in New York, U.S., on Saturday, May 22, 2021.
Victor J. Blue | Bloomberg | Getty Images
Shares of luxury goods brands LVMH, Christian Dior and Hermes all fell more than 2% in early deals, with Burberry down 4.7%, after Kering issued a rare profit warning on declining Asia sales.
Shares of Kering plunged to the bottom of the Stoxx 600, down 14%, after a delayed open.
The French luxury house warned Tuesday that Gucci sales look set to fall 20% year on year in the first quarter, and that overall group revenues would fall 10%.
— Karen Gilchrist
4 Hours Ago
UK inflation slides to 3.4%, below expectations
People walk along Waterloo Bridge past the City of London skyline, the capital’s financial district, on a sunny and mild day.
Sopa Images | Lightrocket | Getty Images
U.K. inflation came in lower than expected at 3.4% year-on-year in February, official figures showed Wednesday, down from 4% in January.
Month-on-month, the headline consumer price index rose by 0.6%, returning to positive territory after a -0.6% reading in January.
Economists polled by Reuters had expected an annual rate of 3.5% for February and a monthly rate of 0.7%, according to LSEG data.
— Elliot Smith
13 Hours Ago
A bunch of analysts just hiked price targets for these 2 stocks, giving them over 65% upside
Eight analysts upgraded their target prices on two Canadian stocks in the past week, giving both more than 65% upside potential.
They were the only two companies on CNBC Pro’s global stock screen that have received price target upgrades from five or more analysts in the past seven days, and also have potential upside of over 50%.
CNBC Pro subscribers can read more here.
— Ganesh Rao
13 Hours Ago
CNBC Pro: UBS reveals highest conviction global stock picks to beat the market — giving one 90% upside
UBS has named its high conviction buy ideas across Europe and Asia.
And some if its buy recommendations are “poised to captivate and elevate” investors’ portfolios, according to the bank.
CNBC Pro subscribers can read more here.
— Weizhen Tan
8 Hours Ago
European markets: Here are the opening calls
European markets are set to open lower Wednesday.
The U.K.’s FTSE 100 index is expected to open 3 points lower at 7,732, Germany’s DAX down 12 points at 17,977, France’s CAC 60 points lower at 8,131 and Italy’s FTSE MIB down 26 points at 33,370, according to data from IG.
Prudential releases earnings Wednesday. U.K. inflation data for February is due to be released.
— Holly Ellyatt