16 minutes ago
The European Central Bank is keeping interest rates stable
A man protects himself from the rain under an umbrella as he walks past the Euro currency sign in front of the former European Central Bank (ECB) building in Frankfurt am Main.
Kirill Kudryavtsev | Afp | Getty Images
The European Central Bank met market expectations on Thursday and left interest rates at their current record high.
The central bank left the euro zone's deposit rate at 4% for the third straight day and reiterated that it would keep it high for a “sufficiently long period” to bring inflation to target.
It said the latest data had “broadly confirmed” the previous medium-term inflation outlook and that a declining trend in underlying inflation had continued despite energy effects.
– Jenni Reid
3 hours ago
Norway's central bank keeps interest rates stable
Norway's central bank on Thursday left interest rates unchanged at 4.5%, saying the outlook and balance of risks meant the key rate was likely to remain at that level for “some time”.
The widely expected decision followed a surprise rate hike last month as Norges Bank sought to combat stubbornly high inflation.
Norges Bank's monetary policy committee said the overall outlook for the Norwegian economy did not appear to have changed significantly since December.
The European Central Bank is expected to keep interest rates stable throughout the remainder of the meeting.
–Sam Meredith
5 hours ago
Stocks on the rise: Nokia rises 6%, IG Group falls 9%
The new Nokia logo will be displayed on the mobile phone, with the Nokia logo on the screen.
Photo only | Photo only | Getty Images
Shares of Finnish telecommunications and technology company Nokia rose 6% after the company forecast a profit increase in the second half of 2024.
Meanwhile, British online retailer IG Group fell 9.2% after reporting a decline in profits due to weak market demand.
—Karen Gilchrist
13 hours ago
CNBC Pro: Analysts Love These Biotech Stocks, Giving 4 More Than 100% Upside Potential
The healthcare sector may have performed poorly in recent years, but analysts are currently bullish and see biotech as an area to watch.
“Just two weeks into 2024, the healthcare sector has shrugged off the title of being a notable laggard in 2023,” Citi said in a recent note.
To look for biotech stocks that performed well last year and that analysts are still positive about, CNBC Pro examined the iShares Biotechnology ETF and the SPDR S&P Biotech ETF.
Subscribers can read more here.
– Weizhen Tan
13 hours ago
CNBC Pro: ASML and more: UBS names over 10 global stocks currently in focus
Europe is facing “weak stagnation” that will dampen the market, but several sectors and stocks are proving good opportunities for UBS this year as growth stabilizes and inflation eases.
The Swiss investment bank expects European growth to stabilize at 0.6% this year, while global growth slows to 2.6%. This is a conservative estimate compared to the 1.2% growth rate forecast by the International Monetary Fund.
“Our macroeconomic outlook for Europe is for weak stagnation, leaving European equities slightly lower but providing another year of actionable divergence between sectors and stocks,” UBS analysts wrote while covering sectors – and over 10 stocks – names that they like.
CNBC Pro subscribers can read more here.
—Amala Balakrishner
8 hours ago
European markets: Here are the opening discussions
European markets are expected to open lower on Thursday.
According to IG data, Britain's FTSE 100 index is expected to open 25 points lower at 7,508, Germany's DAX down 39 points at 16,853, France's CAC down 16 points at 7,440 and Italy's FTSE MIB down 79 points at 30,418.
Proceeds come from LVMH and Givaudan.
– Holly Ellyatt