stocks data, earnings and news

Turkish President Recep Tayyip Erdogan has lost control of the narrative, an analyst told CNBC.

Mike Harris, founder of Cribstone Strategic Macro, says that “in a strange way is a healthy thing because when he’s in control of the narrative he can do some nutty things.”

BP CEO Bernard Looney discusses the oil major’s record annual profits and says the company is “leaning in” to its strategy.

Oil major BP reported record annual profits, more than doubling last year’s total as fossil fuel prices soared following Russia’s full-scale invasion of Ukraine.

The British energy giant posted underlying replacement cost profit, used as a proxy for net profit, of $27.7 billion for 2022. That’s up from the previous year’s $12.8 billion.

Shares of BP were up 4.2% following the announcement and oil and gas stocks led gains in the Stoxx 600 index around 9 a.m., having gained 1.7%.

The full story can be found here.

Ambu topped the Stoxx 600 index with gains of 17% after the Danish medical device company reported strong first-quarter revenue results.

Revenue increased organically by 4%, while reported growth for the quarter was 10%, according to Ambu’s interim report.

Austrian electronics company ams Osram shares dropped 13% after posting disappointing fourth-quarter results and a “weak” outlook for the first quarter. The company also suspended its 2022 cash dividend.

— Hannah Ward-Glenton

Tech stocks have rallied strongly this year — a big turnaround for one of 2022’s worst performers. But the strength of the rally now hangs in the balance, as investors weigh the implications of a series of earnings disappointments.

Market veteran Kenny Polcari, however, is still a fan of the sector and has a number of stock picks to play it.

Pro subscribers can read more here.

— Zavier Ong

Much buzz has been generated around ChatGPT, an artificial intelligence chatbot that’s gone viral and reportedly reached 100 million monthly active users in January.

Its popularity has sparked much interest in artificial intelligence tech.

“You really have to consider the role that artificial intelligence is going to play … it’s made this quantum leap almost, you know, overnight. And so I think that puts it right smack in the front and center of people’s portfolios,” Kenny Polcari, chief market strategist at SlateStone Wealth, told CNBC’s “Street Signs Asia” on Monday.

For investors considering investing in AI, CNBC Pro screens for related stocks that analysts love, with big potential upside.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Retail investors and pension funds are facing millions of dollars in losses on investments in Adani Group companies, CNBC Pro can reveal.

New analysis shows that 951 mutual funds and ETFs worldwide have cumulatively lost more than $4.2 billion in the value of their Adani shares this year.

CNBC Pro subscribers can search for mutual funds and ETFs that have been exposed to Adani companies here.

— Ganesh Rao

European markets are heading for a positive open Tuesday as investors continue to gauge the global economic outlook.

The U.K.’s FTSE 100 index is expected to open 11 points higher at 7,847, Germany’s DAX 17 points higher at 15,364, France’s CAC up 17 points at 7,150 and Italy’s FTSE MIB up 30 points at 27,086, according to data from IG.

BP, BNP Paribas, Siemens Energy and Carlsberg are all set to report earnings, and data releases will include German industrial production for December.

— Holly Ellyatt