23 Mins Ago
Europe stocks close lower
European stocks had a downbeat start to the week, ending the session 0.5% lower with most sectors in the red.
France’s CAC 40 fell 0.96%, Germany’s DAX was down 0.54% and the U.K.’s FTSE 100 dipped 0.1%.
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Stoxx 600 index.
2 Hours Ago
U.S. stocks open little changed
The Dow opened about 13 points lower, while the S&P 500 and Nasdaq rose slightly.
— Fred Imbert
3 Hours Ago
China’s reopening has been a ‘damp squib,’ says investment management firm
Catherine Doyle, investment specialist at Newton Investment Management, says “we do actually quite like China in the near term, and [are] a bit more cautious … on the longer term.”
6 Hours Ago
Euro zone business growth slowed in May; PMI at three-month low
Euro zone business growth slowed in May, according to monthly purchasing managers’ index figures. The index number, which is viewed as a good indicator of general economic health, fell from 54.1 in April to 52.8 in May.
Any figure above 50 is considered a sign of growth, rather than contraction, but May’s figure fell short of the preliminary estimate of 53.3.
— Hannah Ward-Glenton
6 Hours Ago
Disinflationary process is underway in Europe, says ECB’s Vujčić
Boris Vujčić, member of the Governing Council of the European Central Bank and governor of the Croatia National Bank, says, however, that more data is needed to determine “how quick this process is.”
7 Hours Ago
UBS expects to seal Credit Suisse takeover as early as June 12
The Credit Suisse logo seen displayed on a smartphone and UBS logo on the background.
Sopa Images | Lightrocket | Getty Images
UBS expects to complete its takeover of Credit Suisse “as early as June 12”, which will create a giant Swiss bank with a balance sheet of $1.6 trillion following a government-backed rescue earlier this year.
The deal’s completion is subject to the registration statement, which covers shares to be delivered, being declared effective by the U.S. Securities and Exchange Commission, and other remaining closing conditions, UBS said in a statement on Monday.
— Reuters
6 Hours Ago
Indivior shares up 10% after settling opioid treatment monopoly claims
Indivior topped the Stoxx 600 index in early trading as shares jumped 10%.
The U.S. addiction treatment company, which has shares listed in London, said Friday it agreed to pay $102.5 million to settle a lawsuit by 41 U.S. states over claims it monopolized its opioid addiction treatment Suboxone.
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Indivior share price.
8 Hours Ago
European equity markets open higher
European markets opened muted after ending on a high on Friday, as traders digest the U.S. debt ceiling agreement and euro zone inflation data.
The pan-European Stoxx 600 index was up 0.1% as markets opened, with sectors and major bourses a mixture of marginal gains and losses.
15 Hours Ago
CNBC Pro: Ark Invest: These 2 A.I. stocks are being overlooked by the market
Two companies specializing in artificial intelligence are being underappreciated by the stock market, according to Frank Downing of Ark Investments.
Downing, director of research for ARK Next Generation Internet ETF, believes that as the cost of AI falls, investors should look for companies with niche use cases that can offer higher returns.
Downing suggests the stocks he’s picked could be significantly boosted by leveraging large language models like those made by OpenAI, the firm behind ChatGPT.
CNBC Pro subscribers can read more here.
— Ganesh Rao
15 Hours Ago
Oil prices jump more than 2% after Saudi Arabia pledges more production cuts
Oil prices rose after OPEC kingpin Saudi Arabia decided to cut production by another million barrels per day.
Global benchmark Brent futures were up 2.4% at $78 a barrel Monday during early Asia trade, while U.S. West Texas Intermediate futures rose 2.5% to $73.53 per barrel.
“The market did not widely expect the Saudi decision to cut production by 1 million barrels per day unilaterally,” president of Rapidan Energy Bob McNally told CNBC in an e-mail following the decision.
“It once again demonstrated that Saudi Arabia is willing to act unilaterally to stabilize oil prices,” McNally said.
—Lee Ying Shan
15 Hours Ago
CNBC Pro: Goldman and others say copper prices are set to soar. Here are some stocks analysts love
Wall Street analysts have recently been bullish on the metal, with Citi and Goldman predicting that prices are set to soar.
For those looking to buy into the sector, CNBC Pro screened for stocks in the Global X Copper Miners ETF, and the resulting stocks include one with nearly 100% upside.
CNBC Pro subscribers can read more here.
— Weizhen Tan
10 Hours Ago
European markets: Here are the opening calls
The U.K.’s FTSE index will open 11 points higher to 7,622, according to IG data, while Italy’s MIB will be up 61 points to 27,109. Both France and Germany’s major indexes look set to open lower, with the DAX dropping 15 points to 16,048 and the CAC shedding 4 points.
— Hannah Ward-Glenton