Sunday, May 26, 2024
    HomeBusinessEuropean markets open to close: FTSE, DAX, US jobs

    European markets open to close: FTSE, DAX, US jobs

    43 Mins Ago

    US unemployment ticks up to 3.8% in August, average hourly wages rise less than expected

    The unemployment rate jumped to 3.8% in August, while average hourly earnings rose less than expected, the U.S. Department of Labor said Friday.

    Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the 170,000 expected by economists polled by Dow Jones.

    — Samantha Subin

    2 Hours Ago

    Novo Nordisk briefly becomes Europe’s most valuable company

    Danish drugmaker Novo Nordisk briefly overtook luxury behemoth LVMH as Europe’s most valuable company on Friday.

    See Chart…

    Novo Nordisk share price.

    The company’s value has recently climbed on the back of the success of its weight-loss drugs, including Wegovy and Ozempic. It hit $421 billion in morning trading, according to Reuters data — inching past LVMH, which had a market cap of $420.97 billion at the time.

    — Hannah Ward-Glenton

    4 Hours Ago

    David Roche: Japan exit from yield curve control ‘overdue’

    “The realiity is that the Japanese economy, given the rate of growth in consumption, given the recovery in the economy, given inflation, has no need for this special, extraordinary monetary policy which separates Japan from the world,” David Roche of Independent Strategy tells CNBC.

    5 Hours Ago

    UK house prices record steepest drop since 2009

    Estate agents for sale signs on 30th July 2023 in St Dogmaels, Wales, United Kingdom.

    Mike Kemp | In Pictures | Getty Images

    U.K. house prices fell 5.3% year-on-year in August, marking the weakest annual rate since July 2009, according to a new survey from lender Nationwide.

    Prices fell by 0.8% on the previous month.

    “The softening is not surprising, given the extent of the rise in borrowing costs in recent months, which has resulted in activity in the housing market running well below pre-pandemic levels,” said Robert Gardner, chief economist at Nationwide.

    Mortgage approvals have been 20% below pre-pandemic 2019 levels in recent months, Gardner said.

    “Nevertheless, a relatively soft landing is still achievable, providing broader economic conditions evolve in line with our (and most other forecasters’) expectations,” he added.

    — Jenni Reid

    5 Hours Ago

    Italy’s debt ‘manageable’ as long as growth remains active, Ambrosetti Forum head says

    “The debt is very high, but the problem is not the debt, it’s the growth,” Valerio De Molli, CEO of the European House – Ambrosetti, tells CNBC.

    “The reality is that if the yields go up then you will suffer more than other countries. So we may have a couple of difficult years more than other nations. But if we successfully keep our growth pattern very active, then we can manage all of that.

    “And let’s not forget the fact that families and corporates are much [less] indebted than the German and the French. So if you look at the entire picture, not only at the public sector, then you have a much more manageable situation.”

    7 Hours Ago

    Europe stocks head for slightly higher open

    European stock markets are on course for a cautious open on Friday, according to IG data.

    The U.K.’s FTSE 100 is seen opening 4.5 points higher at 7,451, with Germany’s DAX up by 4 points to 15,976 and Italy’s MIB up 17.5 points to 28,909. However, France’s CAC is seen slipping by 3.5 points to 7,329.

    — Jenni Reid

    13 Hours Ago

    CNBC Pro: September is the cruelest month for stocks. The pros share their trading tips — and what to buy

    August has been a choppy month. September, a historically stormy month, may not be any better.

    The pros weigh in on how investors can trade in the month ahead and share stocks to buy.

    CNBC Pro subscribers can read more here.

    — Weizhen Tan

    11 Hours Ago

    China’s central bank cuts reserve ratio by 200 basis points

    The People’s Bank of China announced Friday that starting from Sept. 15, it would reduce the foreign exchange reserve requirement ratio for financial institutions to 4%, from 6%.

    The cut follows a number of reductions to various interest rates in the last several weeks in an effort to shore up the economy.

    The PBOC on Friday set the midpoint of the yuan against the U.S. dollar at 7.1788, a touch stronger than the 7.1811 on Thursday, according to Wind Information.

    The offshore-traded yuan weakened past 7.24 yuan versus the greenback, according to Wind.

    Evelyn Cheng

    13 Hours Ago

    CNBC Pro: ‘Very robust strategy’: Fund manager makes a case for dividend stocks and names 5 to buy

    Dividend stocks aren’t evergreen, but investing in them over several years can pay off, according to one portfolio manager.

    Their underperformance this year presents an opportunity, said Ben Kirby, who is also co-head of investments at Thornburg Investment Management.

    He names five stocks to buy.

    CNBC Pro subscribers can read more here.

    — Weizhen Tan

    17 Hours Ago

    Nasdaq notches worst month since December

    August marked a difficult time for technology stocks, with the Nasdaq Composite and Nasdaq-100 notching their worst months since December 2022.

    For the month, the Nasdaq Composite slumped about 2.2%, while the Nasdaq-100 finished 1.6% lower.

    The biggest laggards included software stocks Fortinet and Datadog, down 22.5% and 17.3% on the month, respectively. shares lost 19.6%, while Lucid Group and PayPal shaved off more than 17% each.

    — Samantha Subin



    Please enter your comment!
    Please enter your name here

    - Advertisment -
    Google search engine

    Most Popular

    Recent Comments