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Moving stocks. Temenos is up 5%, Tecan is down 4%

Temenos shares gained more than 5% in early trade, leading the Stoxx 600 after the Swiss software company announced that CEO Max Choward will step down.

A fellow lab equipment maker at the bottom of the European blue-chip index Tecan Group: fell 4% after Kepler Cheuvreux downgraded the stock from “buy” to “hold” and cut its target price.

– Elliott Smith

CNBC Pro. Want a Tesla alternative? Analysts and fund managers reveal their top EV stocks

CNBC Pro. Analysts love these 12 cheap stocks and give one a 70% downside

2022 was a bad year for many investors as most stocks, especially tech, fell to levels not seen since 2008.

But there may be some opportunity in the chaos, with a number of companies trading at steeper discounts to earnings than in recent history.

CNBC Pro checked out these names, which are also Wall Street favorites.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Inflation forecasts are easing again, with traders fully pricing in a quarter-point increase in interest rates

The decline in consumer inflation expectations coincides with expectations that the Federal Reserve is likely to reduce the rate of interest rate hikes in a few weeks, and soon eliminate them.

A University of Michigan survey of consumer sentiment showed on Friday that the one-year inflation forecast fell to 4%, the third straight monthly decline and the lowest level since April 2021.

Meanwhile, traders have given a 94.2% chance of a 0.25 percentage point rate hike on Feb. 1, when the Fed’s next two-day meeting ends. That’s another smaller move than December’s 0.5 percentage point increase, which itself slowed from four straight 0.75 percentage point gains.

“Inflation expectations are well anchored and improving as price pressures ease across many sectors. The Fed is likely to hike by 0.25% at its meeting later this month,” said Jeffrey Roach, chief economist at LPL Financial. “We shouldn’t be surprised if the Fed starts talking about a pause in the near future.”

– Jeff Cox

European markets. Here are the opening calls

European markets headed for a higher open on Monday as investors gauged the outlook for global inflation following positive signs from US data last week.

of Great Britain FTSE 100 The index is expected to open 10 points higher at 7,856, Germany DAX: 84 points higher, at 15,174, than France’s CAC: up 43 points at 7,063 and in Italy FTSE MIB rose 142 points to 25,895, according to IG data.

The data releases include the German ZEW survey of economic sentiment for January and Italian inflation preliminary data for January. The World Economic Forum starts on Monday in Davos, Switzerland.

– Holly Elliott



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