March 30, 2023

Great Indian Mutiny

Complete IndianNews World

Stocks, news, data and earnings

25 minutes ago

Valeo CEO: Semiconductor shortages will continue to decline

Valeo CEO Christophe Perillat discusses the company’s earnings as the French auto parts maker received record orders last year, and forecasts growth next year.

one hour ago

Britain’s finance minister said UK taxes would be cut “as soon as we can.”

British finance minister Jeremy Hunt said on Friday that the government would consider cutting taxes “as soon as possible” amid pressure from some lawmakers in his own party to reduce the country’s tax burden.

Hunt will present his first full budget on March 15, as the country continues to grapple with rising food and energy costs, the spread of industrial labour, the fallout from Brexit and the worst growth outlook among the major G20 economies.

Read the full story here.

– Elliott Smith

one hour ago

German GDP for the fourth quarter was revised downward

The underground train enters Landungsbrücken Station early in the morning.

Image Alliance | Image Alliance | Getty Images

The German economy contracted by 0.4% in the fourth quarter of 2022, according to the German Statistical Office He said Fridaydespite initial estimates pointing to a 0.2% drop in GDP.

The economy grew by 0.8%, 0.1% and 0.5% in the previous three quarters, while year-on-year growth was confirmed at 1.8%.

ING analyst Carsten Brzeski said in a note that while the economy has held up due to fiscal support and a warm winter, it “certainly does not guarantee a strong recovery anytime soon.”

He said signs of weakness include two consecutive declines in a measure of current business sentiment, weak consumer confidence and a decline in the manufacturing PMI, which prompted the Dutch bank to forecast another economic contraction in the first quarter.

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“Celebrating resilience was a bit premature. A tech recession is in the making,” he wrote.

Germany’s DAX fell 0.4% at midday in Berlin.

– Jenny Reed

2 hours ago

Holcim sees record sales, CEO says “there is no slump” at the company

material company Holcim mentioned It posted net sales of 29.1 billion Swiss francs ($31.3 billion) and a 44% increase in net income to 3.3 billion francs, ahead of expectations.

It was a “very strong year in operating cash flow” but the company has been challenged by input cost inflation, which he believes has peaked, CEO Jan Genisch told CNBC.

“There is no stagnation in Holcim,” he said. “We have very good order books, and we’re running strong this year while in Europe there’s already been a downturn since the first half of last year.”

The Swiss company also announced that Genich will become its next president once his successor is appointed.

Shares of the company were down 0.6% at 11 am in London.

see chart…

Holcim stock price.

3 hours ago

Saint-Gobain CFO: We are confident in our ability to deliver ‘very strong’ results in 2023

Sreedhar N., Chief Financial Officer at Saint-Gobain, discusses the company’s earnings for the full year.

4 hours ago

Stocks rally: Elekta 9%, BASF 5.5%

5 hours ago

European markets open higher

European markets had a strong start to Friday, with the Stoxx 600 up 0.4% shortly after the open.

France’s CAC 40 rose 0.6% as Germany’s DAX and Britain’s FTSE 100 both added about 0.3%. The construction sector led the sector’s gains, up 0.9 percent.

5 hours ago

European markets are preparing to open higher

European markets saw a slightly higher open on Friday.

The FTSE 100 was set to gain 15 points, the French CAC 40 to gain 29.7 points, the German DAX to gain 28 points and the Italian MIB to gain 142.5 points.

After struggling earlier in the week, the Stoxx 600 closed up 0.1% on Thursday.

– Jenny Reed

6 hours ago

“Undoubtedly our favorite mega cap”: The investor names the stocks to buy for the next 10 years

Big Tech’s dominant position and its critical role in the enterprise software ecosystem makes it an ideal acquisition during a downturn in the global economy, said Mark Houghton, chief investment officer at Zurich-based GAM Investments.

CNBC Pro subscribers can read more here.

– Ganesh Rao

7 hours ago

Asia Tech is back, says Bernstein, naming Alibaba and 5 other top picks

China’s reopening has been seen as a major tailwind for stock markets this year, and Bernstein has shared a list of stock picks to take advantage of — which she says also offer downside protection.

“We collaborate with our sector analysts to highlight 30 stocks that look well positioned to catch the tailwinds of China’s reopening, capitalizing on risk sentiment while not losing sight of the looming threat of a global recession,” Bernstein analysts, led by Jay Huang, wrote in their article. Note on February 20.

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The bank said it favors laggards – It beat equities last year — providing “best exposure” this quarter in Asia. But he also urged investors to have some “defensive exposure” by holding high-yielding stocks to protect the downside in case the market turns more risky.

CNBC Pro subscribers can read more here.

– Xavier Ong