DIRS.INFO The most relevant business & tech news

☆ Wall Street cheers cool CPI with stock rally; dollar, yields decline
▼ + stars: | 2023-07-12 | by ( Lawrence Delevingne | Thomson Reuters | Delevingne Works Primarily On Enterprise Stories Related To Finance. He Joined Reuters In | ) www.reuters.com time to read: +4 min

REUTERS/Ralph OrlowskiSummaryCompanies U.S. CPI data for June shows inflation slowdownWall Street stocks gainDollar, Treasury yields dropOil and gold gainJuly 12 (Reuters) - Wall Street stocks advanced on Wednesday and the dollar and Treasury yields fell after new U.S. inflation data showed a slowdown in the seemingly relentless rise of consumer prices. The Consumer Price Index (CPI) gained just 0.2% last month, the Labor Department said on Wednesday, lifted by rises in gasoline prices as well as rents, which offset a decrease in prices of used motor vehicles. Shares of big tech-related companies, which tend to be sensitive to higher interest rates, gave the S&P 500 its biggest boost. /FRXU.S. Treasury yields also dropped, with the 10-year Treasury yield now at 3.865%, down 11.9 basis points . Wall Street banks overall are expected to report higher profits as rising interest payments offset a downturn in deal making.

Persons: Ralph Orlowski, Alexandra Wilson, Elizondo, Bryce Doty, Australia's, Wells, Scott Wren, Wren, Brent, Lawrence Delevingne, Marc Jones, Ankur Banerjee, Jan Harvey, Chizu Nomiyama, Will Dunham, Mark Heinrich Our Organizations: REUTERS, Companies U.S, Treasury, Index, Labor Department, Dow Jones, Nasdaq, Goldman Sachs Asset Management, CPI, Bank of England, U.S, Sit Investment, Fed, Japan's Nikkei, JPMorgan, Citigroup, Wells, Investment Institute, Brent, Wednesday, Thomson Locations: Frankfurt, Germany, U.S, Minneapolis, Asia, Wednesday ., Boston, London, Singapore, Carolina, New York

[1/2] A trader works at the Frankfurt stock exchange, amid the coronavirus disease (COVID-19) outbreak, in Frankfurt, Germany, December 30, 2020. The Consumer Price Index (CPI) gained just 0.2% last month, the Labor Department said on Wednesday, lifted by rises in gasoline prices as well as rents, which offset a decrease in prices of used motor vehicles. CPI advanced 3.0% in the 12 months through June, down from 4.0% in May and the smallest year-on-year increase since March 2021. /FRXU.S. Treasury yields also dropped, with the 10-year Treasury yield now at 3.853%, down 12.9 basis points . EARNINGS AHEADOvernight in Asia, Australia's S&P/ASX 200 index (.AXJO) rose 0.4%, while the bouncing yen knocked Japan's Nikkei (.N225) down 0.8%.

Persons: Ralph Orlowski, Alexandra Wilson, Elizondo, Bryce Doty, Australia's, Wells, Scott Wren, Wren, Brent, Lawrence Delevingne, Marc Jones, Ankur Banerjee, Jan Harvey, Chizu Nomiyama, Mark Heinrich Our Organizations: REUTERS, Companies U.S, Treasury, Index, Labor Department, Dow Jones, Nasdaq, Goldman Sachs Asset Management, Bank of England, U.S, Sit Investment, Fed, Bank of Canada, Japan's Nikkei, JPMorgan, Citigroup, Wells, Investment Institute, Brent, Thomson Locations: Frankfurt, Germany, U.S, Minneapolis, Asia, dealmaking, Boston, London, Singapore, Carolina, New York

[1/2] A trader works at the Frankfurt stock exchange, amid the coronavirus disease (COVID-19) outbreak, in Frankfurt, Germany, December 30, 2020. The Consumer Price Index (CPI) gained just 0.2% last month, the Labor Department said on Wednesday, lifted by rises in gasoline prices as well as rents, which offset a decrease in the price of used motor vehicles. CPI advanced 3.0% in the 12 months through June, down from 4.0% in May and the smallest year-on-year increase since March 2021. /FRXU.S. Treasury yields also dropped, with the 10-year Treasury yield now at 3.885%, down 9.7 basis points . GLOBAL STOCKS, COMMODITIESOvernight in Asia, Australia's S&P/ASX 200 index (.AXJO) rose 0.4%, while the bouncing yen knocked Japan's Nikkei (.N225) down 0.8%.

Persons: Ralph Orlowski, Alexandra Wilson, Elizondo, Bryce Doty, Australia's, Wells, Brent, Lawrence Delevingne, Marc Jones, Ankur Banerjee, Shashwat Chauhan, Jan Harvey, Chizu Organizations: REUTERS, Companies U.S, Treasury, Index, Labor Department, Dow Jones, Nasdaq, Goldman Sachs Asset Management, Bank of England, U.S, Sit Investment, Fed, Bank of Canada, Japan's Nikkei, JPMorgan, Citigroup, Brent, Thomson Locations: Frankfurt, Germany, U.S, Minneapolis, Asia, Boston, London, Singapore, Bengaluru

☆ Thyssenkrupp Nucera shares up in Frankfurt debut
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT/LONDON, July 7 (Reuters) - Shares in hydrogen firm Thyssenkrupp Nucera (NCH2.DE) traded at 20.20 euros ($21.97) in their market debut in Frankfurt on Friday, in an encouraging sign for Europe's capital markets. The opening price was higher than the 20 euros per share paid by investors in the initial public offering (IPO), which valued the company at around 2.5 billion euros. Nucera is a joint venture between Germany's Thyssenkrupp (TKAG.DE) and Italy's De Nora (DNR.MI). "The IPO is the start of an exciting new phase in our company's history," Nucera CEO Werner Ponikwar said during an opening ceremony at the Frankfurt Stock Exchange, adding that the firm will "accelerate the adoption of green hydrogen". ($1 = 0.9193 euros)Reporting by Christoph Steitz in Frankfurt and Pablo Mayo Cerqueiro in London; Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Thyssenkrupp, Germany's, Italy's De Nora, DNR.MI, Werner Ponikwar, Christoph Steitz, Pablo Mayo, Miranda Murray Organizations: Frankfurt Stock Exchange, Pablo Mayo Cerqueiro, Thomson Locations: FRANKFURT, LONDON, Frankfurt, London

☆ European markets open muted after strong first-half gains
▼ + stars: | 2023-07-03 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Traders work in the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, GermanyThe pan-European Stoxx 600 index was up 0.2% at the start of trading, with sectors mixed. European stock markets opened muted Monday after closing the first half of the year 8.8% higher. Euro zone inflation fell more than expected for the month of June, down to 5.5%, but core inflation continued to increase. Asia-Pacific markets rose Monday as investors digested a slew of manufacturing activity reports that showed a slump in output from the region. U.S. stock futures were little changed, meanwhile, as traders prepared for the second half of what's also been a stellar year on Wall Street.

Persons: what's Organizations: Frankfurt Stock Exchange, Deutsche Boerse AG, Media, Central, ., Independence Locations: Frankfurt, Germany, Asia, Pacific, U.S

☆ Thyssenkrupp hydrogen IPO calls for leap of faith
▼ + stars: | 2023-06-22 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +5 min

Once known as the Swiss army knife of climate change for its myriad potential applications in heating, heavy industry and vehicles, green hydrogen has fallen to earth. High fossil fuel prices have also made green hydrogen more affordable relative to other types made from gas. Yet green hydrogen is mostly confined to large-scale industrial usages like steel and ammonia manufacturing. López Borrego will do well to get his IPO away at 3 billion euros without a tangible discount. Switching an average European steel site to green hydrogen could cost 7 billion euros, according to a Hydrogen Europe report.

Persons: Miguel Ángel López Borrego, Thyssenkrupp, DNR.MI, Nucera, López Borrego, Nora, George Hay, Streisand Neto Organizations: Reuters, Nucera, Industrie, Energy, ITM, Mingyang Smart Energy, Reuters Graphics Reuters, Thyssenkrupp, European, Council, Thomson Locations: Frankfurt, Dortmund, U.S, Swiss, Saudi

REUTERS/Ralph OrlowskiSINGAPORE, May 19 (Reuters) - Global shares rose to a one-month high and the dollar trounced major currencies on Friday as markets reflected increased hopes for a deal over the U.S. debt ceiling that could avoid a calamitous default. The moves came after Democratic negotiators told President Joe Biden they were making "steady progress" on a deal to lift the U.S. debt ceiling and avoid a default by the world's largest economy, whose currency and Treasury debt markets underpin global trade and investment. "It's a high risk but low probability event," said Kevin Thozet, investment committee member at European fund manager Carmignac, said of the debt ceiling. Debt ceiling relief complicates the outlook for U.S. government bonds, where yields broadly track Federal Reserve interest rates, as fading recession risk could prompt the world's most influential central bank to keep monetary policy tight as inflation remains high. Elsewhere in markets, Japan's Nikkei 225 (.N225) hit its highest since 1990, reflecting debt ceiling optimism as well as the fact global investors are returning to Japan as its economy and corporate governance improve.

☆ How to trade Volkswagen and BMW quarterly earnings results based on history
▼ + stars: | 2023-05-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

German carmakers Volkswagen and BMW are set to announce their first-quarter earnings later today. Similarly, Volkswagen reported significantly increased deliveries for the same period despite weaker business in China, its most important single market. The stock also surpassed the benchmark by 5.4 percentage points a week since the results and 6.5 percentage points a month out under the same scenario. However, its fortunes reverse for the better, with shares outperforming the benchmark after a week since the results 67% of the time. The German company shares beat the DAX by 1, 3, and 8 percentage points over the day, week, and month since the results, respectively, on exceeding expectations.

☆ HDFC Bank vs. SBI? This strategist names his favorite stock pick among Indian banks
▼ + stars: | 2023-04-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Despite the benefits of heavy deposit flows and strong deposit growth in a slow growth environment, State Bank of India (SBI) has seen its stock price fall year-to-date due to its controversial exposure to Adani. The consensus price target of all analysts compiled by FactSet also points toward 717 rupees a share, which represents a 36% upside. SBIN-IN HDFCBANK-IN 1Y line SBI shares are also traded over the counter in the U.S. and the London and Frankfurt stock exchanges. HDFC over SBI If taking a more constructive long-term view on Indian banks as a whole, Chadha prefers HDFC Bank over SBI because it is merging with HDFC — which he describes as having "huge implications" — creating an almost $300 billion financial behemoth. HDFC Bank shares are up 4% this year and analysts' price target points to a further 13% upside over the next 12 months.

The index of top European banks (.SX7P) was down 1% in early trading, with German banking giants Deutsche Bank (DBKGn.DE) and Commerzbank (CBKG.DE) both falling 0.8%. The rescue of Credit Suisse, which followed the collapses of California-based Silicon Valley Bank (SVB) (SIVB.O) and New York-based Signature Bank (SBNY.O) ignited broader concerns about investors' exposure to a fragile banking sector. The decision to prioritise shareholders over Additional Tier 1 (AT1) bondholders rattled the $275 billion AT1 bond market and some Credit Suisse AT1 bondholders are seeking legal advice. "The AT1 instruments issued by Credit Suisse contractually provide that they will be completely written down in a 'viability event', in particular if extraordinary government support is granted," FINMA said. However, some watchers think the banking system is more vulnerable to rumour and rapid moves in an era of widespread social media use, posing a challenge for regulators trying to tamp down instability.

☆ Why Stock-Market Tourists Flock to New York
▼ + stars: | 2023-03-03 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Competition between European financial hubs may just hand more power to the U.S.SoftBank’s choice of New York for a listing of British microchip designer Arm has led to predictable hand-wringing about national decline in the U.K. capital. But this isn’t just about London. On Wednesday, when Bloomberg reported SoftBank’s latest plan, industrial-gas giant Linde also delisted its shares from the Frankfurt stock exchange. With a market value of $175 billion, the company was the most valuable company in Germany’s Dax index.

☆ Jim Cramer's Investing Club meeting Tuesday: Oil, Meta, Linde
▼ + stars: | 2023-02-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Stick with Meta Platforms Shares of Club holding Meta Platforms (META) were up more than 3% in midmorning trading after CEO Mark Zuckerberg announced Monday that the tech giant is forming a new team to work on incorporating generative AI into its products. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Germany's Commerzbank makes DAX comeback
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 27 (Reuters) - Germany's Commerzbank (CBKG.DE) rejoined the DAX index on Monday, marking a comeback for Germany's No. "We have come to stay," Commerzbank CEO Manfred Knof said before ringing the opening bell at the Frankfurt stock exchange. "The return of Commerzbank is a good signal for the German banking market." Following Wirecard's demise, Deutsche Boerse AG, which compiles the DAX index, revamped it to include 40 companies, rather than the previous 30, and made membership criteria tougher. Other members include Siemens AG, Volkswagen AG, and Allianz SE.

☆ Jim Cramer's Investing Club meeting Tuesday: Consumer prices, Nvidia, Linde
▼ + stars: | 2023-02-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. BofA analysts increased their price target on Nvidia stock to $255 a share from $215. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Feb 7 (Reuters) - Germany's Linde (LIN.N), on Tuesday forecast higher earnings for 2023 and said it plans to invest $7-$9 billion over the next two-to-three years in clean energy projects to benefit from demand from companies seeking to cut emissions. Chief Executive Sanjiv Lamba said on a conference call that as part of that investment, Linde plans to spend $3 billion to convert 11 to 13 existing assets to clean hydrogen. The total investment opportunity for the German company in the United States alone could exceed $30 billion over the next decade, CEO Lamba said in late 2022. It reported fourth-quarter adjusted earnings of $3.16 per share, beating analysts' $2.91 per share estimate in a Refinitiv poll. Reporting by Bartosz Dabrowski and Andrey Sychev in Gdansk; Editing by Milla Nissi and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street rewards Linde for a quarter that exemplifies why we own the stock
▼ + stars: | 2023-02-07 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

The stock popped nearly 4% as Wall Street showed appreciation for what we've been saying all along about the durability of the company's businesses even in tough times. Excluding foreign exchange (forex) fluctuations, this marks the ninth quarter in a row of 20% or better annual earnings growth —especially remarkable during multi-decade high inflation. Linde's stock is about 5.7% from its intraday all-time high of $352.18 on Jan. 5, 2022. Although about two-thirds of Linde's sales are in more cyclical end markets, Linde's business model is very defensive. The table above is a look at Q4 sales growth numbers for each category.

[1/2] A trader works at the Frankfurt stock exchange in Frankfurt, Germany, February 22, 2022. REUTERS/Timm Reichert/File PhotoBERLIN/LONDON, Jan 27 (Reuters) - German web hosting firm IONOS is targeting a market capitalisation of up to 3.15 billion euros ($3.42 billion) in Europe's first major initial public offering (IPO) since sports car maker Porsche last September. Subject to regulatory approval of the IPO prospectus, the offer is expected to run from Jan. 30 to Feb. 7. IPO investors are typically offered a discount to a peer group in compensation for the risk of buying a new stock. Montabaur-based IONOS offers web hosting services and cloud applications to consumers and SMEs in countries including the United States, Germany, Britain, France, Spain and Poland.

☆ Here's our January rapid-fire update on all 34 stocks in Cramer’s Charitable trust portfolio
▼ + stars: | 2023-01-19 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +11 min

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. As much as we'd like to maintain a bigger position in this roughly $472 stock, we're refraining from violating our cost basis of $291.52. ( See here for a full list of the stocks in Jim Cramer's Charitable Trust portfolio.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

BERLIN/FRANKFURT, Jan 17 (Reuters) - United Internet (UTDI.DE) subsidiary Ionos said on Tuesday it would undertake a prime standard listing of its shares this quarter on the Frankfurt Stock Exchange, as the web hosting company readies for an initial public offering (IPO). The offered shares are expected to come from the holdings of the subsidiary's two existing shareholders, United Internet and Warburg Pincus, with United Internet to retain a majority stake after the IPO, Ionos said. United Internet shares were up 1.8% to 22.23 euros in early Frankfurt trading. The intention to float document did not provide details on the target issue price or the number of shares to be offered. A source familiar with the matter told Reuters last week that Ionos could achieve a valuation of 5 billion euros ($5.42 billion) in a stake sale.

☆ Why Linde shares dropped so much this week but why we still like it
▼ + stars: | 2023-01-05 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

It's been a tough start to 2023 for shareholders of Linde (LIN). Russia freezing Linde assets First off, while U.S. markets were closed to observe the New Year holiday, Reuters reported Monday that a Russian court froze about $488 million of Linde assets. The legal action was at the request of a Russian joint venture that Linde stopped working on. Long story short, Linde was prepaid $1.8 billion for work on a project, and Russian energy giant Gazprom is suing Linde to get that money back. Shortly after Russia invaded Ukraine, Linde suspended business in Russia and announced plans to scale back operations.

☆ The rise and fall of Wirecard
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +5 min

July 2: The head of Germany's financial watchdog calls the accounting scandal at Wirecard "a massive criminal act". July 6: German prosecutors arrest the head of a Dubai-based subsidiary of Wirecard. 2021Jan. 29: Felix Hufeld, president of German financial watchdog BaFin, steps down. 2022Jan. 14: German prosecutors file first charges in Wirecard fraud, the Financial Times reports. Sept. 21: A Munich district court said it had admitted charges against former Wirecard executives, paving way for a trial.

☆ Here's our November rapid-fire update on the stocks in Cramer's Charitable Trust portfolio
▼ + stars: | 2022-11-17 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

We think the stock has been hurt by a recent update to the company's reserve quantity. While we're big fans of the company's recent corporate governance cleanup , and we expect some near-term selling pressure associated with those efforts. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Our afternoon trim is in accordance with our discipline of raising cash when the market is overbought, according to the S & P Oscillator . Of course, the Oscillator could become even more overbought from here, and stocks can always move higher. But at a minimum, we think an overbought Oscillator serves as a reminder that stocks have had a solid run lately and could be due for a rest. Over the past month, Linde shares have gained about 16% compared to the S & P 500 's move of less than 7%. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Linde's potential delisting from Germany's biggest stock exchange matters for shareholders like us
▼ + stars: | 2022-11-04 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

The Club holding is currently listed on two different stock exchanges: the New York Stock Exchange in the U.S. and Germany's Frankfurt Stock Exchange. The main stock index in Germany is the DAX, roughly equivalent to the Dow Jones Industrial Average. Additionally, most actively managed mutual fund managers in Europe prohibit any one company stock from comprising more than 10% of a fund. Management believes this cap and associated pressure has negatively impacted Linde's valuation, and shares could realize their full potential by delisting from the Frankfurt Stock Exchange. But the trading action in Europe is the completely wrong way to approach Linde's stock.

☆ Linde's ability to manage inflation was on display in the industrial gas giant's strong quarter
▼ + stars: | 2022-10-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

The following is a look at third-quarter sequential sales growth numbers for each category. Operating profit of $974 million, up 13% over last year, was higher than estimates of $937 million. Sales growth was led by Electronics and Chemicals & Energy, while volume growth was equally split between base business and project startups. Operating profit of $429 million was up 12% from last year and roughly in line with the $424 million estimate. Linde management held a call Wednesday to explain the rationale behind its proposal to delist from the Frankfurt Stock Exchange.

Search resuls for: "Frankfurt Stock Exchange"

25 mentions found