stocks, news, data and earnings

November 12

stocks, news, data and earnings

UK unemployment ticks up

The U.K.’s unemployment rate rose to 4.3% in the three months to September as wage growth continued to slow, data from the Office for National Statistics showed.

Employee pay, excluding bonuses, increased 4.8% over the quarter, the lowest rate in more than two years, though annual growth in total earnings including bonuses ticked up to 4.3%.

The reading comes after the Bank of England cut interest rates last month citing progress in cooling the labor market.

“Wage growth has been a real sticking point for the Bank of England, and though it remains well above the Bank’s 2% inflation target and this uptick will be unwelcome as far as the Bank is concerned, it is likely we will see a marked slowdown in the coming months,” Lindsay James, investment strategist at Quilter Investors, said in a note.

— Karen Gilchrist

AstraZeneca raises forecast after third-quarter earnings beat

The Astrazeneca logo is pictured at the World Artificial Intelligence Conference 2021 in Shanghai, China, July 7, 2021.

Costfoto | Future Publishing | Getty Images

British drugmaker AstraZeneca raised its full-year sales and profit outlook after third-quarter results beat expectations amid demand for its care and rare disease medicines.

Total revenue came in at $13.57 billion for the three month period, above the $13.1 billion expected by analysts, according to Reuters.

“We are highly encouraged by the broad-based underlying momentum we are seeing across our company in 2024, and growth looks set to continue through 2025, providing a solid foundation to deliver on our 2030 ambition,” CEO Pascal Soriot said in a statement.

— Karen Gilchrist

German inflation rate at 2% in October

People cross a street in front the headquarters building of the European Central Bank (ECB) in Frankfurt am Main, western Germany, on June 5, 2024.

Kirill Kudryavtsev | Afp | Getty Images

German inflation rose 2% year-on-year in October, a slight uptick from the previous month’s 1.6% reading, fresh data from showed Tuesday.

Price rises in the country were primarily driven by higher food and services costs, while energy prices shifted lower, the Federal Statistical Office Destatis said.

Harmonized inflation came in at 2.4% for the month, confirming preliminary data.

— Karen Gilchrist

CNBC Pro: What Trump’s election victory means for global investors

President-elect Donald Trump’s return to the White House has sent ripples through global financial markets, with many investors looking to recalibrate their portfolios for a dramatically different policy landscape ahead.

The Republican sweep of the presidency and, potentially, both houses of Congress has triggered what analysts call the return of “Trump trades” — but with key differences to 2016 that could reshape the investment outlook.

Wall Street banks have digested the potential impact of Trump’s win on U.S. bonds, Asian and European stocks, and currencies and what lies ahead for investors.

CNBC Pro subscribers can read more here.

— Ganesh Rao

CNBC Pro: Want to cash in on China’s stimulus? Here’s what the pros expect next

Chinese markets are back in the spotlight after a slew of government stimulus measures over recent weeks.

Friday’s news of a five-year 10 trillion Chinese yuan ($1.4 trillion) debt swap program disappointed investors, however, falling short of calls for more direct support for the economy.

For many market participants — including Pella Funds’ Jordan Cvetanovski — this means taking a longer view when it comes to investing in the Asian powerhouse.

“The markets are always impatient. They want to see a big sugar high immediately, and they want to see a big bazooka … However, as we’ve discovered over many years, the Chinese government … does things in a more measured fashion,” he said.

As investors ponder how to navigate the Chinese market, Bernstein named a number of stock opportunities.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

European markets: Here are the opening calls

European markets are expected to open in negative territory Tuesday.

The U.K.’s FTSE 100 index is expected to open 18 points lower at 8,054, Germany’s DAX down 93 points at 19,355, France’s CAC down 34 points at 7,392 and Italy’s FTSE MIB down 157 points at 33,659, according to data from IG.

On Tuesday, earnings come from Infineon, Bayer, Vodafone and AstraZeneca. Aside from the German inflation data, UK unemployment and European and German ZEW economic sentiment figures are due.

— Holly Ellyatt

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