stocks, data, news and earnings

stocks, data, news and earnings
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European markets rise 1% to eight-month high

The pan-European Stoxx 600 index rose 0.9% to its highest level since the beginning of May 2022.

European economies are expected to benefit significantly from the reopening of China’s borders and travel stocks are expected to increase by 2.5%.

Germany’s DAX index rose 1.25% in November after industrial production figures rose more than expected.

France’s CAC 40 index rose 0.7% and Britain’s FTSE 100 index rose 0.3%.

Jenni Reid

Swiss National Bank announces biggest loss in 116-year history

The Swiss National Bank reported a loss of CHF 132 billion ($143 billion) for the fiscal year 2022, citing preliminary figures.

As a result, he said he would not make his usual payments to the Swiss government and member states, and that payments to his shareholders would also be affected.

131 billion francs of the loss came from its foreign exchange position and 1 billion francs from its own foreign exchange position. Swiss Frank positions

Karsten Junius, chief economist at Swiss bank J. Safra Sarasin, told CNBC that he expects the central bank’s losses will not change monetary policy and will rise another 100 basis points to 2% this year.

Read the full story here.

Shares rose as the market opened

Three major indices rose at the market open as traders sought to amplify Friday’s rally.

The Dow was up 0.4% as of 9:30am. S&P 500 and Nasdaq Composite increased by 0.5% and 0.9%, respectively.

—Alex Harring

Unemployment in eurozone remains at record low despite economic slowdown

Unemployment across the eurozone remained at a record low in November despite slowing economic growth across the region.

According to data from Eurostat, unemployment stood at 6.5% in November, unchanged from October, totaling 10.97 million people.

The figure is the lowest since records began in 1998 and is in line with economist estimates published by The Wall Street Journal.

As reported by Reuters, unemployment is expected to rise in the first half of 2023 as recession pressures increase and will likely reach 7% by mid-year, according to FactSet.

—Hannah Ward-Glenton

Lidl GB sales increased 25% compared to Christmas; the store expects its customer base to continue to grow

The UK arm of German discount supermarket Lidl reported that sales rose 24.5% in the four weeks to Christmas Day compared to 2021.

More than 1.3 million customers shopped at Lidl in the week until December 1. The discounter said 24 compared to the previous year.

The store said it expects more customers to switch from other supermarket groups in 2023 as consumers continue to feel the effects of the cost-of-living crisis.

—Hannah Ward-Glenton

Alibaba reopens related stocks as focus, leading gains in Hang Seng index

CNBC Pro: Goldman Sachs unveils stocks that will benefit from EV boom boosting over 100%

According to Goldman Sachs, shares of legacy automakers and parts manufacturers will attract new investors as they transition to electric vehicles and green technologies.

The Wall Street bank said that as traditional auto companies increase their share of revenue from new carbon-neutral technologies, they will likely gradually be included in ESG funds and benefit from the increase in share prices.

The investment bank has listed 13 stocks that will benefit from the new trend, including one with over 100% plus:

CNBC Pro subscribers can read more here.

— Ganesh Rao

CNBC Pro: Evercore’s Mark Mahaney explains his top tech picks for 2023, giving someone a nearly 200% advantage

Top tech analyst Mark Mahaney is optimistic about tech stocks after a brutal 2022 for the industry.

But investors should remain selective, according to the analyst, who announced the top three picks for 2023.

For subscribers read more here.

— Zavier Ong

CNBC Pro: Bank of America adds these biotech stocks to its first-quarter picks list

BofA added a number of biotech stocks, an industry that is currently hot on Wall Street, to its list of top picks for the first quarter.

The bank has identified some medical technology companies, as well as biotech stocks, as part of its thematic investment choices, which it says relates to a “transforming world.”

CNBC Pro subscribers can read more here.

— Weizhen Tan

European markets: Here are the opening talks

European markets are heading for a positive opening at the start of the new trading week.

of England FTSE 100 The index is expected to open at 7,723, with an increase of 24 points. DAX 14,689, up 79 points, France CAC 6,893 and Italy, up 32 points FTSE MIB It rose 91 points at 24,271, according to IG data.

Data released on Thursday includes the euro zone unemployment rate for November, French trade data for November and German industrial production for the same month.

—Holly Elliott

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