2 Mins Ago
Stocks on the move: Adyen slides another 5% after Thursday’s plunge
47 Mins Ago
Negative open in Europe
The pan-European Stoxx 600 index was down 0.4% in early trade, with retail stocks falling 0.9% to lead losses as most sectors and major bourses slid into the red.
Telecoms bucked the trend to nudge 0.3% higher.
49 Mins Ago
UK retail sales fell 1.2% in rain-soaked July
U.K. retail sales fell 1.2% month-on-month in July and 3.2% annually, primarily due to persistent poor weather, the Office for National Statistics said Friday.
The figure was well below a consensus forecast for a 0.5% decline among economists polled by Reuters, and down from a 0.6% monthly expansion in June.
“Rather than spending at home, consumers were instead tempted to spend their increasingly squeezed disposable income on booking last-minute holidays, leaving less money for retail spending,” noted Carly Donovan, associate partner at McKinsey & Company.
“And with air travel costs up 29.8% year on year, holiday bookings ate into a larger portion of disposable income than usual.”
– Elliot Smith
An Hour Ago
Here are the opening calls
4 Hours Ago
China’s embattled property giant Evergrande files for bankruptcy in U.S. court
China’s property giant Evergrande group filed for Chapter 15 bankruptcy protection in a U.S. court late Thursday.
The real estate developer referenced restructuring proceedings in Hong Kong, the Cayman Islands and the British Virgin Islands, in a filing to the Manhattan court.
In July, Evergrande posted a combined loss of $81 billion over the past two years, after struggling to complete projects and pay back its suppliers and lenders.
Read the full story here.
— Sumathi Bala
7 Hours Ago
Japan’s core inflation rate fell in July, headline inflation holds steady at 3.3%
Japan’s core inflation for July fell to 3.1% from June’s figure of 3.3%, in line with expectations from economists polled by Reuters.
Japan’s core inflation strips out prices of fresh food.
The headline inflation rate for July came in at 3.3%, unchanged from June’s figure.
The so called “core-core” inflation metric, which strips out prices of fresh food and energy and used by the Bank of Japan in its monetary policy considerations, came in at 4.2%, down from 4.3% in June.
— Lim Hui Jie
7 Hours Ago
CNBC Pro: These stocks pulled back in August but analysts expect them to bounce back — giving one 103% upside
August has been a rocky month for stocks so far.
For those looking for stocks that pulled back this month but still have upside potential, CNBC Pro screened the S&P 500 and the Vanguard FTSE All-World ex-U.S. index.
The resulting stocks have fallen into negative territory in August, but have average price target upside of at least 30%, and buy ratings from at least half of analysts covering them.
— Weizhen Tan
7 Hours Ago
CNBC Pro: S&P 500, Treasuries or Berkshire Hathaway? Here’s how value investor Guy Spier would invest
Investors are almost spoilt for choice between the safety of bonds and the potential upside from stocks.
On the one hand, the U.S. economy is showing signs of healthy growth, and some analysts expect stocks to continue soaring. At the same time, U.S. government bonds are offering more than 5% in risk-free yield.
— Ganesh Rao