stocks, news, data and earnings

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stocks, news, data and earnings

U.S. stocks open higher

U.S. stocks opened higher Tuesday, as markets regained momentum ahead of the release of key U.S. inflation data.

The Dow Jones Industrial Average rose 0.2% in early deals, while the S&P 500 gained 0.4%. The tech-heavy Nasdaq Composite also added 0.6%.

British pound climbs ahead of GDP data

The British pound strengthened against the U.S. dollar and the euro on Tuesday ahead of a series of big announcements.

Over the coming days, the U.S. will release inflation data on Wednesday, the ********* Central Bank will hold its monetary policy meeting on Thursday, and the U.K. monthly ****** domestic product figures will be out on Friday. Economists will be looking for signs of a rebound in the British economy, which recorded 0.2% growth in January, after slipping into a shallow recession in 2023.

Sterling was up 0.2% against the greenback at $1.267 at 12:40 p.m. in London. The currency was 0.17% higher against the euro at 1.167.

— Jenni Reid

Schneider Electric: Sustainability is good business

Gwenaelle Avice Huet, executive vice president of Europe operations at Schneider Electric, discusses climate priorities and the push for sustainability.

Silver may be even more exciting than the gold rally, says BNP Paribas Wealth Management

Edmund Shing, chief investment officer at BNP Paribas Wealth Management, discusses the

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for gold and silver prices.

HSBC to sell Argentina business for $550 million, will take $1 billion pre-tax hit

HSBC is the largest bank in Europe by total assets.

Nicolas Economou | Nurphoto | Getty Images

HSBC said Tuesday

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its Argentine banking operations to Grupo Financiero Galicia in a deal worth $550 million. It will report a $1 billion pre-tax loss on the ***** in the first quarter of 2024.

The bank said this will not have a tangible impact on its common equity tier 1 ratio — a measure of a bank’s financial strength —and will be excluded from its dividend payout calculation.

The deal is set to close within the next 12 months.

HSBC Group Chief Executive Noel Quinn said it would allow the company to focus on “higher value opportunities” internationally.

“HSBC Argentina is largely a domestically focused business, with limited connectivity to the rest of our international network. Furthermore, given its size, it also generates substantial earnings volatility for the Group when its results are translated into US dollars. Galicia is better placed to invest in and grow the business,” Quinn said in a statement.

“We remain committed to Mexico and the US, and to serving our international clients throughout our global network with our leading transaction banking capabilities.”

HSBC shares were 0.16% higher at 9:11 a.m. in London.

— Jenni Reid

Shell to consider all listing options

A view shows a board with the logo of Shell at the company’s fuel station in Saint Petersburg, Russia May 6, 2022. 

Anton Vaganov | Reuters

Oil major Shell is considering all listing options, including possibly moving its listing from London to New York, the company’s CEO Wael Sawan said in a Bloomberg Opinion piece.

A Shell spokesperson confirmed the quotes to CNBC on Monday, adding that they do not reflect a change in the company’s position which ******** focused on “delivering more value with less emissions,” reducing operating costs and providing better shareholder returns.

These and other factors should help close the “valuation gap,” the spokesperson said, adding that the company will consider exploring other options if that is not achieved beyond 2025.

Shell is one of the largest companies listed on the London Stock Exchange, which has been chasing fresh listings to revitalize London’s appeal as a financial hub. Shell shares were up 0.68% at 08:48 a.m. London time.

— Ruxandra Iordache

BP up 1.3% after flagging higher production in first quarter

A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, ******* Kingdom.

John Keeble | Getty Images News | Getty Images

BP shares rose 1.3% in early trade, hitting the highest level since October after the oil major said it expects higher upstream production in the first quarter across oil and gas.

In a

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Tuesday, the company also said it expected “strong” results in oil and gas trading, but adverse impacts from gas and low carbon energy realizations and from the devaluation of the Egyptian pound.

— Jenni Reid

Europe stocks open lower

********* stocks were slightly lower early Tuesday, with the pan-********* Stoxx 600 index down by 0.15% at 8:20 a.m. in London.

Major bourses were in the red, with Germany’s DAX down 0.4% and France’s CAC 40 lower by 0.25%. The U.K.’s FTSE 100 nudged 0.08% lower.

Stoxx 600 index.

Troubled Atos outlines refinancing plan

Atos share price.

Distressed French IT consultancy Atos on Tuesday

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a series of requirements as it restructures its debt, including 600 million euros ($651 million) in cash to fund operations over the next two years.

This will be raised through debt and equity from existing stakeholders or third-party investors, it said.

It is targeting a BB credit profile by 2026, and its remaining debt maturities have been extended by five years.

The company is set to run cybersecurity operations at the Paris Olympics and also has contracts with the French secret service. French authorities have already said they will

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after a series of setbacks.

Atos shares climbed 19% Monday after 

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 Onepoint said Paris-based investment firm Butler Industries was 

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.

— Jenni Reid

CNBC Pro: Data centers are set for an AI-fueled boost, UBS says — naming 3 stocks to play the trend

The data center sector is poised for fast growth in the years ahead, according to UBS.

The investment bank predicts the data center sector will grow between 15% and 20% in 2024 and 2025, and “healthy” double-digit growth in the following years.

It names three related stocks to play the trend.

CNBC Pro subscribers can read more here.

— Weizhen Tan

CNBC Pro: This AI stock could fall 50% and has an ‘exaggerated artificial intelligence narrative,’ Morningstar says

********* markets: Here are the opening calls

********* markets are set to open lower Tuesday.

The U.K.’s FTSE 100 index is expected to open 6 points lower at 7,936, Germany’s DAX down 49 points at 18,263, France’s CAC 17 points lower at 8,103 and Italy’s FTSE MIB down 77 points at 33,609, according to data from IG. 

Data releases include Ukrainian inflation figures for March.

— Holly Ellyatt

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Breaking News: Europe,STOXX 600,Prices,******* States,Neel Kashkari,Atos SE,BP PLC,Atos SE,HSBC Holdings PLC,business news
#stocks #news #data #earnings

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