10 Mins Ago
Stocks on the move: Bachem up 5%, Umg down 4.4%
Stock movements were relatively muted Friday morning, as major bourses traded higher.
Swiss biotech firm Bachem led the Stoxx 600 index, up 5.3% after it announced it had signed a 500 million Swiss franc ($533 million) five-year deal to provide peptides for a joint development project.
Universal Music Group dipped 4.4%, a day after reporting full-year results, with adjusted pre-tax earnings up 23.3% annually to 620 million euros ($658 million) — slightly below expectations.
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Universal Music Group share price.
An Hour Ago
Europe markets open higher
European stock markets were off to a strong start on Friday as they look to claw back losses from earlier in the week.
The Stoxx 600 was up 0.5% shortly after the open, with tech stocks leading gains.
Germany’s DAX gained 0.6%, France’s CAC 40 was up 0.4% and the U.K.’s FTSE 100 rose 0.23%.
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Stoxx 600 index.
An Hour Ago
Goldman Sachs says these 8 beaten-up stocks will turn profitable this year — and outperform the market
Goldman Sachs has named eight global stocks of companies that will become profitable this year and beat the broader market.
In a new research report, the investment bank found that companies that transition from unprofitable to profitable during a market recovery typically outperform the broader market.
According to Goldman, this phenomenon was observed in 2001 and 2008, with outperformance above 50% in each instance.
CNBC Pro subscribers can read more here.
— Ganesh Rao
An Hour Ago
Europe markets set top open higher
The major European stock market indexes were on course for a higher open Friday.
The FTSE 100 was seen opening 23 points higher at 7965.6, according to data from ig.com.
France’s CAC 40 was up 28.7 points to 7306.6, Germany’s DAX up 51 points to 15,365.2, and Italy’s MIB up 142.5 points to 27,576.
— Jenni Reid
2 Hours Ago
‘Data is the new oil’: Investor picks one stock to play the trend
Artificial intelligence is all the rage right now. And according to tech investor Mark Hawtin, there’s a smart way to jump on the trend: playing the data theme.
AI has taken Wall Street by storm since since ChatGPT was launched and went viral — causing a surge in interest among investors in what stocks could benefit from the trend.
Stocks such as tech giant Microsoft, which backed ChatGPT, Alphabet — which developed a chatbot — as well as semiconductor firms like Nvidia have come up as obvious plays on AI. ChatGPT was created by San Francisco-based OpenAI, a private company backed by Microsoft. It can answer questions, write essays and more.
But Hawtin, investment director at Zurich-based GAM Investments, has identified data as another way to get into the game.
CNBC Pro subscribers can read more here.
— Weizhen Tan
