3 Mins Ago
Germany to invest 20 billion euros in semiconductor industry
Germany has earmarked around 20 billion euros ($22.15 billion) to boost its semiconductor industry over the next few years as Europe’s largest economy looks to dilute its supply chain’s dependence on South Korea and Taiwan.
Germany has been attracting global companies, including U.S. giant Intel, to establish factories through subsidies available under the EU Chips Act, which seeks to double the EU’s share of global chip manufacturing by 2030.
The economy ministry also said Tuesday that it was in contact with Taiwan’s TSMC over a possible investment.
— Elliot Smith
2 Hours Ago
UK consumer confidence hits 18-month high
U.K. consumer confidence hit an 18-month high earlier this month, according to the latest PwC Consumer Sentiment Survey.
The sentiment reading came in at -13, a marked improvement from the -44 seen last September and -25 this spring, as the mood seemingly improved across the board to draw close to the long-term average seen by PwC since 2008.
“It is encouraging to see the growth in sentiment across all ages and demographics,” said Lisa Hooker, leader of industry for consumer markets at PwC.
“Whilst inflation remains the biggest factor affecting finances, we’re also seeing fewer people cutting back and spending intentions have consistently improved over the past 12 months,” Hooker added.
“Retailers need to capitalise on the desire to trade down in the same store rather than trade out and spend on selective treats. But also on those consumers with money left at the end of the month.”
— Elliot Smith
2 Hours Ago
German business sentiment deteriorates further in July
German companies became even more pessimistic in July, according to the results of the Ifo Institute’s business climate survey on Tuesday.
The Ifo Business Climate Index fell to 87.3 points in July from 88.6 points in June, a third consecutive monthly decline, as companies were shown to be less satisfied with their current business and future expectations across the board.
— Elliot Smith
8 Hours Ago
Hong Kong markets climb 4% as real estate stocks rebound
Hong Kong’s Hang Seng index surged more than 4% on Tuesday, led by real estate stocks rebounding after China vowed more support for its beleaguered property sector.
Real estate developer Longfor Group jumped almost 20% and was the biggest gainer on the index, while property management firm Country Garden Services Holdings surged 17.54%.
Hong Kong tech names were also part of the top gainers on the index, with the Hang Seng Tech index climbing 4.57% and led by electric vehicle makers. Chinese EV maker Xpeng saw a 12.75% gain, while Nio climbed 9.79%.
3 Hours Ago
Stocks on the move: Unilever up 5%, Dassault Systemes down 5%
Earnings were the main driver of individual share price action in Europe on Tuesday.
Unilever shares climbed 5% in early trade to lead the Stoxx 600 after the British consumer goods company beat analyst expectations to report a 7.9% rise in underlying second-quarter sales.
At the bottom of the European blue chip index, Dassault Systemes fell 5% after its second-quarter earnings report, in which the French software company reported a slowdown in growth in its 3D and cloud businesses.
— Elliot Smith
3 Hours Ago
A tepid open for European stocks
The pan-European Stoxx 600 index hovered around the flatline in early trade, with mining stocks jumping 2.8% while healthcare stocks fell 0.8%.
5 Hours Ago
Here are the opening calls in Europe
10 Hours Ago
‘Good value, low risk, high quality’: BofA names top European stocks to beat a recession
Bank of America has named multiple European “top stocks” it says are of “good value, low risk” and “high quality.”
All of them turned up on “recession screens” for July, in a market BofA described as a being in a recession style cycle. A style cycle refers to the relationship between economic cycles and investment styles, the bank said in a research note dated July 19.
CNBC Pro subscribers can read more here.
— Lucy Handley
10 Hours Ago
CNBC Pro: Here are the only 4 global stocks to raised dividends by more than 10% for the past 15 years
Dividend growth is often a key factor for investors seeking stable returns, and four global companies are notable for their consistent — and significant — payout increases.
One of the stocks, a multinational food and beverage company, has consistently raised dividends by more than 10% since 1993. Another has seen its share price rise by more than 4,000% in price returns, in addition to its consistent dividend payments.
CNBC Pro subscribers can read more here.
— Ganesh Rao
10 Hours Ago
CNBC Pro: Stocks, bonds, commodities or cash? Citi and others reveal how to allocate right now
As the S&P 500‘s year-to-date rally nears 20%, some investors have questioned whether stocks could be nearing a tipping point.
Other potential risks on the horizon include the yield curve inversion — believed by many to be a signal of recession — this week’s U.S. Federal Reserve rate decision, and inflation numbers due next month.
So how should investors allocate their portfolios in this environment? Here’s what Citi, TS Lombard and the Wells Fargo Investment Institute advise.
CNBC Pro subscribers can read more here.
— Weizhen Tan
