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☆ The 'next big thing' in tech will come from these areas, UBS says — naming stocks to play the theme
▼ + stars: | 2024-03-18 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

The "next big thing" in tech will come from sectors such as enabling tech — which includes artificial intelligence and cybersecurity — as well as healthtech, greentech and fintech, UBS said. Here are some names from UBS' list and what it says about each stock. "The medical surgical and neurological business has also returned to strong growth as the pandemic impact fades," the bank said. Broadcom : UBS says that Broadcom boasts a "market-leading" position in semiconductor design. Its greentech picks include French industrial gases and services company Air Liquide , French utility firm Engie , and German chemicals firm Wacker Chemie .

Persons: —, Stryker, ASML, — CNBC's Michael Bloom Organizations: UBS, fintech, Baidu, ASML, Broadcom, 5G, Intercontinental Exchange, Mastercard, Air, Wacker Chemie Locations: Wacker

These include plans by ArcelorMittal , the world's second-largest steelmaker, to spend 2.5 billion euros to decarbonise its German steel mills, efforts that depend on now-uncertain government support. "What we're seeing here is devastating for Germany as a business location globally. Besides the 6 billion euros of steel investments, other sectors potentially affected by the court ruling include 4 billion euros in the area of microelectronics and 20 billion euros for battery cell production, according to an economy ministry paper seen by Reuters. Those have previously been estimated at 68 billion euros. "Important industries in Germany, such as chemicals or steel production, need economical energy prices," Oliver Blume, CEO of Europe's top carmaker Volkswagen (VOWG_p.DE), told Frankfurter Allgemeine Zeitung.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Reiner Blaschek, Chancellor Olaf Scholz, Stefan Rauber, Intel INTC.O, Taiwan's, Bernhard Osburg, Oliver Blume, Christoph Steitz, Tom Kaeckenhoff, Andreas Rinke, Catherine Evans Organizations: Climate, Finance, ArcelorMittal, SHS Stahl, Reuters, IMF, Intel, TW, Infineon, Steel, BASF, Wacker Chemie, Volkswagen, Frankfurter Allgemeine Zeitung, Thomson Locations: FRANKFURT, DUESSELDORF, Berlin, Germany, Asia, United States, U.S, USA, Steel Europe

☆ European stocks open lower as earnings roll in; Standard Chartered plunges 10%; ECB set to hold rates
▼ + stars: | 2023-10-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Auto stocks plunged 3.45% as results disappointed, while travel stocks traded 1.7% lower. European stock markets opened sharply lower Thursday as attention remains on third-quarter earnings and government bond yields. Results are out from a slew of companies including Standard Chartered, BNP Paribas, TotalEnergies, Volvo Cars, Novozymes, Volkswagen, Carrefour, Saab and Wacker Chemie. Meanwhile, monetary policy decisions are due from the European Central Bank — for which markets have priced in a more than 98% likelihood of a hold in interest rates — and the central bank of Turkey, from which economists polled by Reuters anticipate a 500 basis point hike to 35%. The benchmark 10-year Japanese government bond yield hit a fresh 10-year high ahead of a central bank meeting next week, according to Reuters data.

Organizations: Chartered, Standard Chartered, BNP, TotalEnergies, Volvo, Volkswagen, Carrefour, Saab, Wacker Chemie, Investors, Facebook, Meta, European Central Bank —, Reuters, Treasury Locations: London, Turkey, Asia, Pacific

☆ European shares muted as miners weigh
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

July 4 (Reuters) - European shares were muted on Tuesday, as uncertainty about the direction of global interest rates prompted investors to stick to the sidelines, while miners weighed on concerns about weak demand from China. The pan-European STOXX 600 index (.STOXX) held steady at 461.17 points by 0710 GMT as investors weighed hawkish signals from central bankers against data pointing to slowing global growth. Miners (.SXPP) fell 0.3% as metal prices slipped on concerns about the demand outlook from China after a raft of weak economic data, while a 0.5% increase in banks (.SX7P) limited losses. Independence Day public holiday while the economic data calendar is also light. Wacker Chemie (WCHG.DE) advanced 2.7% to the top of the STOXX 600 after HSBC upgraded its rating to "buy" from "hold."

Persons: Amruta Khandekar, Dhanya Ann Thoppil Organizations: Wall, U.S, Independence, Wacker Chemie, HSBC, Thomson Locations: China

☆ European shares edge higher as energy, bank stocks gain; US inflation data eyed
▼ + stars: | 2023-05-08 | by ( Amruta Khandekar | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) rose 0.2% to 466.29 points by 0805 am GMT. The index was pressured last week when, unlike the Fed, the European Central Bank signalled more rate hikes were on the table. A slump in energy shares on weakness in crude prices also added to the declines. Energy (.SXEP) was the top sectoral gainer on Monday, up 0.8% as crude prices strengthened. Dutch Central Bank President Klaas Knot on Sunday said the ECB's rate hikes are starting to have an effect, but more will be needed to contain inflation.

☆ Exclusive: U.S. blocks more than 1,000 solar shipments over Chinese slave labor concerns
▼ + stars: | 2022-11-11 | by ( Nichola Groom | ) www.reuters.com time to read: +5 min

Nov 11 (Reuters) - More than 1,000 shipments of solar energy components worth hundreds of millions of dollars have piled up at U.S. ports since June under a new law banning imports from China's Xinjiang region over concerns about slave labor, according to federal customs officials and industry sources. The agency would not reveal the manufacturers or confirm details about the quantity of solar equipment in the shipments, citing federal law that protects confidential trade secrets. But the companies have halted new shipments to the United States over concerns additional cargoes will also be detained, the industry sources said. The sources asked not to be named because they were not authorized to speak publicly on the matter. CBP has previously said that it had detained about 1,700 shipments worth $516.3 million under UFLPA through September but has never before detailed how many of those shipments contained solar equipment.

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