European Stocks Slide as Davos Concludes UK retail sales decline

European Stocks Slide as Davos Concludes; UK retail sales decline –

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Sustainability was pushed aside by other topics in Davos 2024, says the Philips chairman

Feike Sijbesma, Chairwoman of Philips and former DSM CEO, discusses the global climate agenda and government regulation.

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Stocks on the rise: Teleperformance rises 7.7%, Maersk falls 3.7%

French digital business services group Teleperformance topped share moves in early afternoon trading, rising 7.7%.

Watches of Switzerland rose 3.3% after the British retailer plunged 33% on Thursday as it warned its full-year results would fall short of previous forecasts.

Shares in Danish shipping giant Maersk, meanwhile, fell 3.7% as investors continue to monitor the impact of volatility in the Red Sea on the company's operations. On Wednesday, the company announced an operating partnership with Germany's Hapag Lloyd, which it said would lead to “increases in efficiency.”

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Maersk share price.

3 hours ago

UK retail sales are falling, increasing the risk of a recession

Shoppers walk past shops on Regent Street on the last weekday before Christmas in London, December 22, 2023.

Henry Nicholls | Afp | Getty Images

UK retail sales fell significantly more than expected in December, a sign that the economy may have entered a shallow recession in the second half of 2023.

The Office for National Statistics said sales volumes fell 3.2% in the key trading month, after rising 1.4% in November. Economists polled by Portal had expected a decline of just 0.5%.

“Today’s release would shave about 0.15 percentage points off real GDP growth in December, increasing the likelihood that the economy ended 2023 in the mildest of mild recessions,” said Alex Kerr, associate economist at Capital Economics .

The British pound lost 0.25% against the US dollar and 0.27% against the euro, while British bond yields fell.

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Pound dollar exchange rate.

Read more here.

– Jenni Reid

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European markets: Here are the opening discussions

IG data shows European markets set to open higher: The FTSE 100 rose 46.6 points to 7,506, Germany's DAX rose 86.5 points to 16,644 and France's CAC 40 rose 43.6 points to 7,444.

– Jenni Reid

12 hours ago

Asia's chipmakers are booming as TSMC forecasts strong growth in 2024

Chip stocks in Asia rose sharply on Friday after Taiwan Semiconductor Manufacturing Company gave upbeat full-year guidance a day earlier on AI-related demand.

Shares of TSMC rose 4.42%, while South Korean memory chip makers Samsung Electronics and SK Hynix rose 3.21% and 2.42%, respectively.

TSMC predicts that 2024 will be “a healthy growth year” due to demand for 3-nanometer and 5-nanometer technologies as well as the AI ​​boom. This comes after a challenging year for chipmakers amid unfavorable global macroeconomic conditions and an inventory adjustment cycle.

“TSMC is perfectly positioned to benefit from this [AI]. “There is an insatiable appetite for low-power, high-performance chips that can enable AI on devices,” Daniel Newman, principal analyst at Futurum Research, said on CNBC’s “Squawk Box Asia.”

–Sheila Chiang

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CNBC Pro: BYD and more: AllianceBernstein names top Asia stock picks for next 6 months, up over 60%

According to AllianceBernstein, several sectors – and stocks – in Asia Pacific appear “particularly attractive” at the moment.

These stocks are “highly valued on a quantitative basis and are companies that our Bernstein analysts are very positive about,” the Wall Street bank's analysts wrote as they named their Asian “top picks for the next six months.”

CNBC Pro subscribers can read more here.

—Amala Balakrishner

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CNBC Pro: Here is Morgan Stanley's “Believe List” of global dividend stocks

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AMD, Nvidia, Boston Scientific and Domino's Pizza hit new highs among 18 S&P 500 names

Chipmakers Advanced Micro Devices and Nvidia were among several S&P 500 names that hit 52-week highs on Thursday. AMD was trading at an all-time high not seen since the company's initial public offering in September 1972, while Nvidia shares were trading at levels not seen since January 1999. Other technology and software companies, industrial companies and some hotel chains also reached new highs.

Here are some of the names that have reached all-time highs:

Broad market index stocks that hit new 52-week lows include Devon Energy, Exxon Mobil and Humana.

—Pia Singh, Christopher Hayes