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Uk Retail Sales

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finance2 years ago

European Stocks Edge Higher as Davos Concludes; UK Retail Sales Slump

European stock markets cautiously rose as the World Economic Forum in Davos concluded, with attention turning to data releases and corporate earnings updates; UK retail sales dropped by 3.2% in December, raising concerns of a potential recession; TSMC's upbeat annual forecast led to a surge in chip stocks in Asia, driven by AI-related demand; AllianceBernstein named top Asian stock picks for the next six months, while Morgan Stanley's 'conviction list' of global dividend stocks included AMD, Nvidia, and other S&P 500 names reaching fresh highs.

via CNBC|
#chipmakers#davos#european-stocks
finance2 years ago

"Qatar's Stake Sale Sends Barclays Shares Slipping in European Markets"

European markets closed higher, with the Stoxx 600 index up 0.4%. Telecom stocks were among the biggest movers, with Ericsson up 4.4% after striking a deal with AT&T, while Nokia plunged 8.4% on expected losses. U.K. property sales are expected to improve in the next six months. Barclays shares fell 2.5% as Qatar Holding moved to sell millions of its stock. U.K. retail sales in November were dampened as households delayed Christmas spending. The Caixin China services PMI climbed to its highest level in three months, while China's official PMI showed a contraction.

via CNBC|
#barclays#ericsson#european-markets
finance2 years ago

"Novo Nordisk Surpasses European Stocks, Becomes Most Valuable Firm"

European stock markets opened lower as the boost from Chinese stimulus measures faded, with the Stoxx 600 index down 0.53%. Construction and banking stocks saw the biggest declines. Danish drug-maker Novo Nordisk started as Europe's most valuable firm for the first time, surpassing luxury goods giant LVMH, as it launched its weight loss drug Wegovy in the UK. German trade data showed a decline in exports in July, while imports rose. UK retail sales were higher in August, reflecting improved consumer confidence. German businesses reported slightly lower price expectations in August, and preliminary figures showed a dip in German consumer price inflation. UBS downgraded two global automakers over competition from Chinese EV manufacturers, and expects "clear signs of slowing" for the US economy by November's FOMC meeting.

via CNBC|
#european-markets#european-stocks#finance