Stocks on the move: Temenos up 7%, Hellofresh down 6%
Let’s wait shares gained more than 7% by mid-afternoon to lead the Stoxx 600 after the Swiss software company announced that CEO Max Chuard would step down.
At the bottom of the European blue chip index, German food delivery companies Hello fresh fell 6% after Exane BNP Paribas downgraded the stock to “neutral” from “outperform”.
– Elliot Smith
It will be difficult to find gas in the short term, says Eni’s CEO
Claudio Descalzi, CEO of Eni, talks about the three pillars of the energy industry.
Chinese consumer recovery will come later than expected, says EIU
Cailin Birch, global economist at The Economist Intelligence Unit, discusses the impact of China’s opening up on the global economy.
Stocks on the move: Temenos up 5%, Tecan down 4%
Let’s wait shares gained more than 5% in early trading to lead the Stoxx 600 after the Swiss software company announced that CEO Max Chuard will step down.
At the bottom of the European blue chip index, a compatriot manufacturer of laboratory equipment Tecan Group fell 4% after Kepler Cheuvreux downgraded the stock from “buy” to “hold” and cut its price target.
– Elliot Smith
CNBC Pro: Want to get another Tesla? Analysts and fund managers reveal the top EV stocks
CNBC Pro: Analysts love these 12 cheap stocks – and give 70% upside
2022 is a bad year for many investors, with most stocks – especially technology – falling to levels not seen since 2008.
But there may be some moments of turmoil, with more companies trading at steeper discounts than in recent history.
CNBC Pro took a look at these names that are also favored by Wall Street.
CNBC Pro subscribers can read more here.
— Weizhen Tan
Inflation outlook softens again, traders fully offset quarter-point rate hike
The decline in consumer inflation expectations coincides with expectations that the Federal Reserve may lower interest rates in the next few weeks, and end them soon.
A University of Michigan consumer sentiment survey on Friday showed one-year inflation fell to 4%, the third monthly decline and the lowest since April 2021.
Meanwhile, traders gave a 94.2% chance of a 0.25 percent interest rate hike on February 1, when the Fed’s next two-day meeting ends. That marks a smaller move than the 0.5 percent rise in December, which itself was a drop from four quarters of 0.75 percent gains.
“Inflation expectations are stable and improving as price pressures ease across many sectors. The Fed may raise rates by 0.25% at its next meeting this month,” he said. Jeffrey Roach, chief economist of LPL Financial. “We shouldn’t be surprised if the Fed starts talking about a break soon.”
— Jeff Cox
European market: Here are the opening calls
European markets are headed for a higher open on Monday as investors weigh global inflation after positive signs from US data last week.
The UK FTSE 100 index is expected to open 10 points higher at 7,856, of Germany DAX 84 points higher than France’s 15,174 CAC up 43 points from 7,063 and Italy’s FTSE MIB up 142 points to 25,895, according to data from IG.
Data releases include Germany’s ZEW survey of economic sentiment for January and Italy’s preliminary inflation numbers for January. The international economic conference will begin in Davos, Switzerland, on Monday.
— Holly Elliott