An hour ago
Schott Pharma shares are trading at around 30 euros above the stock market price on their debut
Schott Pharma debuted on the Frankfurt Stock Exchange on Thursday at 30 euros per share, well above analysts’ expectations. The company’s shares rose 10% in the first few minutes.
See grafic…
Schott Pharma share price.
The medical vial maker set its final offer price at 27 euros ($28.37) per share on Wednesday, after the company on Sept. 18 announced a range of between 24.50 and 28.50 euros, giving it a valuation of up to 4.1 billion euros.
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—Hannah Ward Glenton
2 hours ago
The European markets are opening unsettled
European markets opened choppy on Thursday, reversing the negative momentum seen for much of the week.
The pan-European Stoxx 600 index opened 0.1% higher, with sectors spread across positive and negative territory. Travel and leisure stocks fell 0.8%, while oil and gas saw the biggest gains, rising 0.8%.
—Hannah Ward Glenton
8 hours ago
CNBC Pro: UBS downgrades shares of company with 400,000 employees thanks to “significant uncertainty” caused by AI
UBS has downgraded shares of a company that employs around 400,000 customer service staff worldwide, saying it faces “significant uncertainty” caused by the rise of artificial intelligence.
The investment bank downgraded the stock’s rating to “neutral” from “buy,” citing concerns that new AI tools could significantly disrupt the customer experience industry dominated by the company.
CNBC Pro subscribers can read more here.
– Ganesh Rao
8 hours ago
CNBC Pro: Morgan Stanley names the global stocks that are likely to be “disadvantaged” by rising yields
5 hours ago
European markets: Here are the opening discussions
European markets are expected to open higher on Thursday.
According to IG data, Britain’s FTSE 100 index is expected to open 20 points higher at 7,600, Germany’s DAX is expected to open 48 points higher at 15,259, France’s CAC is expected to open 4 points higher at 7,072 and Italy’s FTSE MIB is expected to open 73 points higher at 28,085.
On the data front, preliminary inflation data for Germany and Spain are due in September, as well as Italian consumer confidence for the same month. There is no major income.
– Holly Ellyatt