49 Mins Ago
Europe stocks open mixed
European stocks lacked direction Monday morning as investors waited for the latest news on U.S. debt ceiling talks, with the Stoxx 600 index up 0.07% at 8:12 a.m. London time.
Mining, oil and gas and banking stocks suffered the worst losses, all down around 0.5%.
Household goods and health care were more upbeat, gaining 0.5%.
Germany’s DAX slipped 0.12% from Friday’s record close, while France’s CAC dipped 0.08%. The U.K.’s FTSE 100 added 0.25%.
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Stoxx 600 index.
3 Hours Ago
Southeast Asia’s worst-performing stock market is UBS’ ‘top pick’
Thai stocks are the worst performers in Southeast Asia this year, but UBS says Thailand is its “top pick” in the region. Thailand’s SET index fell 0.5% on Monday’s afternoon and is down by more than 9% this year.
Thailand stands to be a “big beneficiary” of a tourism boost from China once the latter’s employment numbers increase, said UBS Global Wealth Management’s Kelvin Tay told CNBC’s “Squawk Box Asia.”
However, Thailand’s elections are a “potential game changer” and monarchy-linked companies could be set back by a change in government, he said.
— Audrey Wan
7 Hours Ago
CNBC Pro: Tesla vs. BYD: Here’s why one fund manager prefers the Buffett-backed automaker
In an era defined by the need to tackle climate change, electric vehicles (EVs) are seen as an increasingly important part of the solution.
For Philip Ripman, portfolio manager at Storebrand Asset Management, one global EV automaker stands out: China’s BYD — not Elon Musk’s Tesla.
As an investor, Ripman said that BYD’s appeal goes beyond just manufacturing electric cars.
CNBC Pro subscribers can read why the fund manager is bullish on BYD here.
— Ganesh Rao
9 Hours Ago
Debt celing negotiations to resume on Monday
Federal leaders are expected to continue with negotiations on the U.S. debt ceiling on Monday as the country approaches a potential default.
President Joe Biden and House Speaker Kevin McCarthy, R-Calif., are scheduled to meet in person at the White House.
Treasury Secretary Janet Yellen said Sunday that “hard choices” will need to be made about which bills will go unpaid if the debt ceiling is not raised and reaffirmed her warning that the United States could default on its debt as early as June 1,
— Jesse Pound, Ashley Capoot
7 Hours Ago
CNBC Pro: These 4 stocks are on Goldman’s ‘conviction buy’ list — and it gives one 115% upside
4 Hours Ago
European markets: Here are the opening calls
European markets are expected to open in mixed territory Monday.
The U.K.’s FTSE 100 index is expected to open 5 points higher at 7,773, Germany’s DAX 6 points lower at 16,284, France’s CAC 1 point lower at 7,474 and Italy’s FTSE MIB 52 points higher at 27,274, according to data from IG.
Earnings are set to come from Ryanair and data releases include consumer confidence figures for the euro zone in May.
— Holly Ellyatt
