European stocks rise to highest since January 2022 as Fed signals rate cuts; SNB leaves interest rates unchanged; ECB and Bank of England follow –

22 minutes ago

Norway’s central bank raises interest rates by 25 basis points

Norway’s central bank said on Thursday it had raised its interest rates by 25 basis points, setting the key interest rate at 4.5%.

Norges Bank Governor Ida Wolden Bache said in a statement that inflation remains too high despite the economic slowdown, noting that the central bank expects to maintain the current key interest rate “for some time.”

The majority of economists previously polled by Portal had expected the central bank to leave interest rates unchanged.

— Sophie Kiderlin

43 minutes ago

The German DAX rises above 17,000 points for the first time

The German DAX exceeded the 17,000 point mark for the first time on Thursday and reached its peak at 17,003.28 points. Since then it has fallen slightly and was most recently quoted at 16,975 points.

The index is currently up more than 21% year-to-date.

The increase comes despite the German economy’s difficulties in recent months. The country entered a technical recession in the first quarter of 2023 and is widely expected to contract this year.

— Sophie Kiderlin

An hour ago

The Swiss National Bank is keeping interest rates stable

A logo of the Swiss National Bank is pictured on the SNB building in Bern, Switzerland, on May 20, 2020.

Arnd Wiegmann | Portal

The Swiss National Bank kept the interest rate stable at 1.75% on Thursday, in line with analysts’ expectations.

The Swiss central bank, which has raised interest rates from minus 0.75% in several steps over the past 18 months, also left its demand deposit rate at 1.75%.

—Karen Gilchrist

An hour ago

Stoxx 600 its highest level since January 22nd; The German DAX exceeds the 17,000 mark for the first time

The pan-European Stoxx 600 index rose 1.7% in early trading, hitting its highest level since January 2022, while Germany’s DAX topped 17,000 points for the first time ever.

An hour ago

Stocks on the rise: AMS-Osram up 12%, EQT up 10%, Vivendi up 9%

Shares of AMS-Osram rose more than 10% in early trading to lead the Stoxx 600 after Jefferies upgraded the Austrian electronics company’s stock to “buy” from “hold.”

Vivendi shares rose 9% after the French media giant said it was considering a split into several listed companies.

The Swedish investment firm EQT also recorded double-digit growth.

-Elliot Smith

An hour ago

European markets recover at opening

European stocks rose sharply at the open on Thursday following the dovish signal from the Federal Reserve.

The pan-European Stoxx 600 index rose 1.6% in early trading, with mining stocks rising 3.8%, leading gains as all sectors and major exchanges traded in positive territory.

9 hours ago

CNBC Pro: Citi names 3 stock opportunities after Argentina devalues ​​its currency by 50%

Citi highlighted opportunities in three stocks after Argentina devalued its currency by 50%

The sharp devaluation was part of a new economic plan announced by Libertarian President Javier Milei, who took office earlier this week. One US dollar now costs 800 Argentine pesos, previously it was 400 pesos.

The U.S.-listed shares of two Argentine companies have also risen more than 40% since Milei’s election on hopes of an economic turnaround.

CNBC Pro subscribers can read more here.

– Ganesh Rao

9 hours ago

CNBC Pro: Is Novo Nordisk a Buy? Wall Street banks are commenting on this – and one of them is reporting a loss of 36%

The boom in weight loss drugs has made pharmaceutical giant Novo Nordisk attractive to many investors this year – but one investment bank has reservations about the stock.

“We expect sentiment to change in the coming year, perhaps initially due to the launch of competitor Eli Lilly’s anti-obesity drug Zepbound and the risk of disappointment from a slower-than-expected increase in Wegovy shipments,” led Jefferies analysts Peter Welford wrote in a December 7 equity research report.

But not everyone agrees, as other analysts are bullish on the stock.

Subscribers

—Amala Balakrishner

4 hours ago

European markets: Here are the opening discussions

European markets are expected to open higher on Thursday.

According to IG data, Britain’s FTSE 100 index is expected to open 61 points higher at 7,613, Germany’s DAX is expected to open 188 points higher at 16,949, France’s CAC is expected to open 92 points higher at 7,620 and Italy’s FTSE MIB is expected to open 365 points higher at 30,622.

Investors in Europe will be keeping a close eye on monetary policy decisions from the European Central Bank and the Bank of England on Thursday.

– Holly Ellyatt

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