Europe before the bell: busy busy
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com.
EUROPE BEFORE THE BELL: BUSY BUSY
There's plenty for investors to digest on Thursday, with earnings from Nvidia overnight and Novartis early Thursday, as well as geopolitics, the latest Trump appointments, bitcoin heading towards $100,000, and Indian billionaire Gautam Adani's indictment by U.S. prosecutors for his alleged role in a $265 million bribery scheme.
Some of those are directly relevant to markets, some are of more general interest, but they have left futures in slightly positive territory. STOXX 50 futures STXEc1 are just the right side of flat, with DAX FDXc1 and FTSE 100 FFIc1 futures up about 0.2%.
The big news since European shares last traded is Nvidia's results. NVDA.O The U.S. chip giant forecast its slowest revenue growth in seven quarters on Wednesday, failing to meet lofty expectations of some investors who have made it the world's most valuable firm. Its shares dipped after hours and in Frankfurt.
In Europe, Novartis NOVN.S on Thursday raised its medium-term sales guidance to 6% annual growth through 2028, driven by strong momentum of launched drugs and the prospect of upcoming launches.
Meanwhile, Volkswagen management and worker representatives begin a third round of wage negotiations, with just ten days left to find a solution before unions have threatened to escalate the fight with strikes across German sites. The negotiations are over wages for 120,000 of Volkswagen's roughly 300,000 staff in Germany
Julius Baer said on Thursday it had registered increased growth in net new money during the July-October period.
In Britain, the Financial Conduct Authority is seeking feedback on proposals to give lenders more time to handle complaints on non-discretionary motor finance commissions, after a recent legal ruling widened the number of customers they may need to compensate.
Analysts and investors have been assessing how much impact potential redress schemes could have on lenders. Close Brothers Group CBRO.L whose shares fell sharply on such fears last month, on Thursday warned of hit to 2025 forecast from potential motor finance redress claims.
(Alun John)
*****
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
