Latest news with #JenniReid
CNBC
30-04-2025
- Business
- CNBC
Europe stocks set for mixed open ahead of more earnings, euro zone growth data
European stock markets were headed for a muted open Wednesday, as investors brace themselves for another slew of earnings along with euro zone economic growth data. The Stoxx 600 index notched a sixth straight positive session on Tuesday, extending its longest winning streak since January. The U.K.'s FTSE 100 meanwhile closed higher for a 12th session, marking its best run since 2017. Corporate results will be back in focus, with Airbus , UBS , Mercedes, TotalEnergies , Stellantis , Barclays , GSK , Volkswagen and Societe Generale among those reporting. U.S. tariffs have unsurprisingly emerged as a key theme in early reports, with many companies citing the difficulty of forecasting, while bank profits beat expectations. Stock chart icon Stoxx 600 index. European markets were heading for a mixed open on Wednesday, according to IG data at 4 a.m. U.K. time. London's FTSE 100 was set to nudge 5.6 points higher to 8,475, Germany's DAX 34.7 points higher to 22,486, and Italy's MIB 77.6 points higher to 37,443. France's CAC 40 was last seen slipping 6.9 points to 7,561. — Jenni Reid China's manufacturing activity fell more-than-expected to a near two-year low, sliding into contractionary territory in April as the escalating trade war with the U.S. hurts bilateral trade. The official purchasing managers' index came in at 49.0 in April, falling below the 50-level threshold which determines expansion from contraction, for the first time since January, according to data from the National Bureau of Statistics on Monday. That reading missed the analysts' expectations for a 49.8 contraction in a Reuters poll, marking a notable slowdown after China's manufacturing activity grew at its fastest rate in a year in March, as exporters front-loaded outbound shipments to avoid higher duties. Read the full story here. —Anniek Bao Samsung Electronics' operating profit and revenue beat analysts' estimates Wednesday, as chip sales rose amid worries of U.S. President Donald Trump's "reciprocal" tariffs coming into effect. The South Korean company posted a 10% jump in first-quarter revenue from a year earlier, while its operating profit climbed 1.5%. Shares of Samsung Electronics traded flat after the results. Read the full story here. —Dylan Butts, Lee Ying Shan
CNBC
29-04-2025
- Business
- CNBC
European stocks head for mixed open as investors eye tariff impact on earnings
European markets are heading for a mixed open on Tuesday, as investors parse earnings for the impact of U.S. tariffs and resultant global economic uncertainty. The pan-European Stoxx 600 index closed higher the last five sessions and has returned to a year-to-date gain despite sharp selling in March and April on tariff fears. A flurry of corporate results could now cloud or brighten the picture in the weeks ahead. Tuesday's announcements come from firms such as Lufthansa , Volvo Cars , Adidas , Carlsberg , BP , AstraZeneca , Deutsche Bank and Novartis . Europe's largest lender HSBC beat estimates in the early hours despite year-on-year falls in profit and revenue. Data is due on Spanish economic growth, ahead of the figure for the wider euro zone on Wednesday. Traders will also be keeping an eye on U.S. jobs market data out at 10 a.m. ET for clues on the health of the world's largest economy and the impact on Federal Reserve rates policy. The U.K.'s FTSE 100 was seen opening 10.6 points higher at 8434.7 points, according to IG data at 5:13 a.m. in London. Germany's DAX was seen rising 34.1 points to 22,297, while France's CAC 40 dropped 18 points to 7,553. Italy's MIB was last seen nudging 34 points higher to 37,001. — Jenni Reid Spot gold slid Tuesday, reversing gains from overnight as bargain-hunting kicked in. The precious metal slid 0.33% as of 9.15 a.m. Singapore time on Monday to trade at $3,330.87 per ounce, as investors kept watch on developments around trade negotiations between the U.S. and China. Stock chart icon Spot gold The latest moves in the bullion — which is a traditional hedge against political and financial instability — come after it crossed the $3,500 threshold to hit an all-time high last week, on the back of the heightened macroeconomic uncertainty. — Amala Balakrishner Oil prices fell Tuesday on the back of simmering trade tensions between the U.S. and China. Brent Crude slipped 0.25% to trade at $65.61 per barrel as of 8.26 a.m. Singapore time, Meanwhile, the West Texas Intermediate crude fell 0.31% to $61.86. The moves come as the U.S.-China trade war dominates investor sentiment on oil prices. China is the world's largest importer of oil and the higher U.S. tariffs may put pressure on its fuels and petrochemicals sectors. — Amala Balakrishner Jaque Silva | Nurphoto | Getty Images Megacap technology earnings this week will be pivotal for the market, according to Deutsche Bank. Meta and Microsoft are both set to report earnings on Wednesday. Apple and Amazon are slated to release results on Thursday. "It's fair to say that these Mag-7 earnings will go a long way to dictating the tone of the week," Jim Reid, the bank's global head of macro and thematic research, wrote to clients. — Alex Harring
