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U.S. Treasury yields were lower Friday as investors continued to assess the state of the U.S. economy after labor data buoyed sentiment. The yield on the 10-year Treasury was around 6 basis points lower at 3.94% at 4 p.m. Nonetheless, it was holding near the level it was at last week before a weak U.S. jobs report helped trigger a run of global market volatility. The yield on the 2-year note was up less than 1 basis point on the day at 4.051%. Yields and prices move in opposite directions, and one basis point equals one one-hundredth (0.01%) of a percent.

Organizations: Treasury Locations: U.S

LONDON — European stocks closed higher on Friday as global equity markets looked to rebuild from the recent sell-off. Global markets have been volatile this week as they have tried to shake off Monday's rout. The initial sell-off was in part triggered by separate U.S. jobs data last week coming in weaker than expected. Both moves have led analysts to caution that markets may have outsize reactions to data releases and central bank commentary through August — typically a volatile month for stocks. Asia-Pacific markets were mostly higher on Friday.

Persons: — Organizations: City of, LONDON Locations: City, City of London, U.S, Asia, Pacific

Media and chemicals stocks both slipped 0.6%, while travel stocks gained 1.28%. On Wall Street, stocks gained after U.S. weekly initial jobless claims figures came in lower than expected, alleviating some concerns about the state of the labor market. Last Friday's U.S. jobs report had shown slowing employment growth, sparking recession fears and subsequent market volatility. There was an element of market overreaction to that initial jobs report, Janet Mui, head of market analysis at RBC Brewin Dolphin, told CNBC's "Squawk Box Europe" on Thursday morning. "The jobs data is actually not that bad, employment is still growing and particularly importantly, real wage growth is still positive.

Persons: Janet Mui, CNBC's, Mui Organizations: Anadolu, Getty, Media, Global, U.S, RBC Locations: Amsterdam , Netherlands, U.S

"That, of course, requires more capacity, more ships in order to move global trade around the world, and that has created some shortages here in the second quarter and in the third quarter that we're dealing with at the moment," Clerc told CNBC's "Squawk Box Europe." Maersk on Wednesday reported lower year-on-year revenue in the second quarter and across the first half of the year. It also posted second-quarter underlying profit of $623 million, a drop compared to the $1.35 billion reported in the same period last year. Container demand has been more robust than expected but is expected to cool in the coming quarters, Clerc said. Maersk shares were 1.8% lower at 11:33 a.m. in London.

Persons: Vincent Clerc, Clerc, CNBC's Organizations: Maersk Locations: Africa, Good, Europe, U.S, Asia, London

☆ No sign of U.S. recession in freight demand, CEO of shipping giant Maersk says
▼ + stars: | 2024-08-07 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Shipping giant Maersk, considered a barometer for global trade, is not seeing signs of a U.S. recession as freight demand remains robust, the company's chief executive said Wednesday. "We've seen in the last couple of years, actually, [the shipping container] market remaining surprisingly resilient to all the fear of recessions that there has been," Vincent Clerc told CNBC's "Squawk Box Europe" Wednesday, adding that container demand was generally a good indicator of underlying macroeconomic strength. The last week has seen a sudden escalation in worries about a recession in the world's biggest economy, the U.S., following a set of weaker-than-expected jobs data which has divided economists and market participants. U.S. retail trade inventories — a measure of unwanted build — in May were up 5.33% from a year ago at $793.86 billion, according to the most recent release from the U.S. Census Bureau. A report released by leasing platform Container xChange on Wednesday said indicators suggest inventories are higher than demand, meaning a less "prosperous time" in the coming months for container traders, the logistics market and retailers who stockpiled.

Persons: We've, Vincent Clerc, CNBC's, Clerc Organizations: Shipping, Maersk, U.S . Census Locations: U.S

☆ Correction in the dollar-yen was overdue and may be 'healthy' for markets, former ECB chief says
▼ + stars: | 2024-08-06 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A carry trade involves an investor borrowing a currency with low interest rates and reinvesting it in higher-yielding assets elsewhere — taking advantage of that differential to make a financial gain. Investors piled into yen carry trades in recent years, attracted by Japan's low volatility and ultra-loose monetary policy. Global stock markets meanwhile plunged as "safe haven" assets such as the Swiss franc and U.S. Treasurys were bolstered. "You can't unwind the biggest carry trade the world has ever seen without breaking a few heads," Kit Juckes, chief foreign exchange strategist at Societe Generale, said in a Monday note. Trichet told CNBC Tuesday: "The correction can be seen as a healthy correction, in some respects.

Persons: it's, Jean, Claude Trichet, CNBC's, Treasurys, Kit Juckes, Trichet Organizations: European Central Bank, ., Bank of Japan, U.S, Global, Swiss, Societe Generale, CNBC, Federal Locations: France's, U.S, Europe, United States

☆ European stocks to extend declines after Bank of England rate cut as global sentiment sours
▼ + stars: | 2024-08-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Boris Roessler | Picture Alliance | Getty ImagesLONDON — European stocks were set to open lower Friday, extending losses amid a global downturn as a busy week of market action draws to a close. Germany's DAX was on course to open 104 points lower at 17,984, according to IG data, with France's CAC 40 down 40 points at 7,325. The regional Stoxx 600 index on Thursday suffered its worst session since mid-June, pulled down by financials as French bank Societe Generale downgraded its outlook and the Bank of England cut interest rates for the first time since 2020. The central bank decision took its key interest rate to 5% from 5.25%, in a move that markets had not been fully convinced it would carry out. Asia-Pacific markets saw steep losses Friday, with Japan's benchmark indexes tanking as much as 5%.

Persons: Boris Roessler, Germany's DAX, BOE Governor Andrew Bailey, BOE, Joe Tuckey Organizations: Getty, France's CAC, Societe Generale, Bank of England, CNBC, Argentex, U.S . Federal Reserve, Bank of, Apple, Intel, U.S . Bureau of Labor Statistics Locations: Frankfurt, Bank of Japan, Europe, Asia, Pacific

☆ Barclays profit dips in the second quarter, beats estimates
▼ + stars: | 2024-08-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — Barclays on Thursday reported second-quarter net profit attributable to shareholders of £1.2 billion ($1.54 billion), slightly lower than a year ago, as the British lender's net interest income fell. Analysts polled by Reuters had expected attributable net profit of £1.03 billion for the period, according to LSEG data, in a decline from the £1.3 billion logged in the second quarter of 2023. Barclays posted revenue of £6.3 billion for the latest quarter, above a forecast of £6.25 billion. Net interest income at it consumer bank dropped 4% year-on-year to £3.15 billion across the January-June period, as the lender's net interest margin declined from 3.2% to 3.15%. The lender's restructure split the corporate and investment bank across Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank.

Persons: Venkatakrishnan Organizations: Barclays Plc, LONDON, Barclays, Reuters, Tesco Bank, Barclays U.K, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank Locations: Canary, London, British

☆ European markets head for mixed open ahead of Bank of England decision
▼ + stars: | 2024-08-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

LONDON — European markets are set to open mixed on Thursday as investors process a raft of central bank action. The Bank of England announces its latest monetary policy decision at midday London time. Market pricing slightly favors a 25 basis point interest rate cut from the U.K. central bank, kicking off its path of monetary easing. Investors are still processing Wednesday's surprise move from the Bank of Japan, which raised its benchmark interest rate to around 0.25%, its highest level since 2008, and hinted at more tightening to come. The decision powered the yen to a four-and-a-half month high against the U.S. dollar, as Japanese stocks tumbled.

Persons: Germany's DAX, Jerome Powell, Powell Organizations: CAC, Bank of England, U.S, Bank of Japan, U.S . Locations: U.S . Federal, —

☆ Bank of England to make knife-edge call on interest rates as markets favor cut: Live updates
▼ + stars: | 2024-08-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom. LONDON — Several analysts expect the Bank of England to announce an interest rate cut on Thursday, but a lack of clear signaling from the central bank has shrouded the decision in uncertainty. The Bank Rate has been held at a 16-year high of 5.25% since August 2023. The decision will be announced at midday U.K. time and will be followed by a press conference. Thursday will also see the release of the quarterly Monetary Policy Report, which will contain economic growth and inflation projections.

Persons: BOE Organizations: Bank of England Locations: City of London, London, United Kingdom

☆ Bank of England's rate cut is on a knife-edge even with inflation on target
▼ + stars: | 2024-07-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Market pricing on Wednesday morning suggested a 60% probability of a rate cut at the BOE's Aug. 1 meeting. That is far less conviction than traders had before the European Central Bank enacted its own rate cut at the start of June; while pricing for the U.S. Federal Reserve to cut for the first time in this cycle in September has hit 100%. watch nowIn both May and June, seven MPC members voted to hold, as two voted to cut by 25 basis points. Headline U.K. inflation spiked higher than in the U.S. and euro zone over the last two years, but has also cooled more quickly. "I would rather hold rates until there is more certainty that underlying inflationary pressures have subsided sustainably," Haskel said.

Persons: Mike Kemp, BOE, Jonathan Haskel —, —, Haskel Organizations: of England, Bank of England's, European Central Bank, U.S . Federal Reserve, MPC Locations: City of London, U.S, BOE, U.K

☆ European markets head for higher open ahead of euro zone inflation, Fed decision
▼ + stars: | 2024-07-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

LONDON — European markets looked set to maintain positive momentum on Wednesday, with euro zone inflation due and corporate earnings still in focus. On the data front, inflation figures for the euro zone will be published at 10 a.m. London time. It comes after second-quarter gross domestic product for the euro zone came in at 0.3% on Tuesday, slightly higher than expected. In the U.S., the Federal Reserve is expected to keep interest rates steady on Thursday. In Asia, all eyes are on the Bank of Japan as it raised its benchmark interest rate to 0.25% from its previous range of 0% to 0.1% and outlined a plan to taper its bond buying program.

Organizations: HSBC, Adidas, Kanye, Federal Reserve, Bank of Japan Locations: London, U.S, Asia

☆ Johnnie Walker-maker Diageo plunges 10% on full-year sales decline, but Guinness a bright spot
▼ + stars: | 2024-07-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

John Morrissey serves pints of Guinness at a traditional Irish pub in Dublin on May 21, 2024, in Dublin, Ireland. Shares of spirits giant Diageo tumbled more than 10% on Tuesday morning, after the Johnnie Walker-maker posted its first sales decline since the start of the pandemic. The London-based company said organic net sales dropped 0.6% in the full-year to June 30, largely due to weakness in the Latin America and Caribbean region. Reported net sales were down 1.4%. "The situation in Latin America is concerning as it was the primary reason for the profit warning earlier in the year.

Persons: John Morrissey, Johnnie Walker, Smirnoff, Captain Morgan, Don Julio, Tanqueray, Chris Beckett, Cheviot Organizations: Diageo, Guinness, Revenue Locations: Dublin, Ireland, London, America, Caribbean, North America, Europe

☆ Europe stocks head for mixed open ahead of central bank meetings; Standard Chartered announces $1.5 billion buyback
▼ + stars: | 2024-07-30 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

LONDON — European markets are set to see a mixed start to Tuesday, as earnings continue to dominate stock action and investors brace for U.K. and U.S. central bank decisions. The U.K.'s FTSE 100 index is seen slipping just below the flatline, according to IG data, while France's CAC 40 and Germany's DAX rise just 8 and 21 points, respectively. U.K. bank Standard Chartered announced its biggest-ever share buyback, of $1.5 billion, as it raised its outlook in half-year results. Oil major BP hiked its dividend as it beat second-quarter earnings estimates.

Persons: Germany's DAX Organizations: CAC, Chartered Locations: U.S

☆ Heineken shares fall 7% after first-half profit miss
▼ + stars: | 2024-07-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

In this photo illustration, bottles of Heineken beer are displayed on July 31, 2023 in San Anselmo, California. Heineken shares opened nearly 7% lower on Monday, after the brewing giant's first-half profit growth came in weaker than analysts had expected. In an update that had been keenly-awaited by analysts, Heineken revised its operating profit organic growth forecast for the year to a range between 4% to 8%. The major miss was in Europe, which saw just 0.2% profit growth versus an expectation of 15.1%, largely because of increased promotional spending in a competitive market, Barclays said. Heineken said it "consolidated leadership" in low and no-alcohol beer sales, with Heineken 0.0 — a no-alcohol beer — up 14%.

Persons: Heineken, Dolf van den Brink, CNBC's, Van den Brink Organizations: Heineken, Beer, CR, Barclays, CNBC Locations: San Anselmo , California, London, China, Europe, Brazil, Egypt, Vietnam

☆ French telecoms network hit by vandalism within days of arson attacks against national railways
▼ + stars: | 2024-07-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Normal train service had resumed on the French rail network by Monday — when authorities reported damage to telecoms infrastructure, which caused local power outages and raised the specter of further national disruption. Secretary of State for Digital Affairs Marina Ferrari that France's telecoms network was experiencing isolated outages due to damage carried out overnight in several regions. It was not immediately clear whether vandalism to the telecoms network was connected to the damage and arson carried out on the rail network last week. Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.

Persons: —, State for Digital Affairs Marina, Ferrari, Dmitry Peskov, Gerald Darmanin, Darmanin Organizations: Paris, Olympics, State for Digital Affairs, CNBC, NBCUniversal, NBC Sports, NBC Olympics, NBC, Games Locations: Vandieres, France, Paris, Russia, U.S

☆ Airlines roll out business seat upgrades at Farnborough Airshow as demand for lucrative cabin class set to rise
▼ + stars: | 2024-07-26 | by ( Jenni Reid | Marylou Costa | ) www.cnbc.com time to read: +2 min

Qatar Airways displayed its business class upgrade at Farnborough Airshow near London. Zoom In Icon Arrows pointing outwards Qatar Airways' new business class product, the Qsuite Next Gen', features retractable screens. Rolling out new business class seats across an airline's fleet is usually a lengthy process spanning years, as upgrades are installed in new aircraft and retrofitted onto planes already in service. Qatar Airways' "Qsuite Next Gen" business class seat, showcased at the Farnborough Air Show on July 22, 2024. Qatar Airways

Organizations: England — Airlines, Qatar Airways, Farnborough, CNBC, Boeing, Qatar Locations: FARNBOROUGH, England, London

☆ France's high-speed rail network hit by arson attacks, canceling trains ahead of Olympics
▼ + stars: | 2024-07-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

French train services were canceled and delayed on Friday, after the nation's high-speed rail network faced a series of "malicious" acts overnight, including arson, just ahead of the opening of the Olympic Games in Paris. Railways operator SNCF said in a statement that its network had experienced several concurrent attacks on Thursday night, with fire damaging its facilities. The high-speed LGV Atlantique line was hit, along with northern and eastern lines, causing knock-on disruption that the operator expected will impact hundreds of thousands of people. "Following this massive attack aiming to paralyze the high-speed line network, a large number of trains were diverted or canceled," SNCF said, according to a CNBC translation, advising those who are able to not to travel to the station. The impact also hit international Eurostar services, which connect the U.K., France, Belgium, the Netherlands and Germany.

Organizations: Paris, Olympic Games, SNCF, Atlantique, CNBC, Eurostar, Lille Locations: Gare Montparnasse, Paris, Paris . Railways, Paris's, France, Belgium, Netherlands, Germany

☆ European stocks head for mixed open as selloff eases; U.S. inflation data due
▼ + stars: | 2024-07-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange as a picture of Vice President Kamala Harris is displayed on a television screen, on July 22, 2024. Overall, Stoxx losses have eased from last week, when the regional index recorded its worst performance since October. LONDON — European markets are heading for a mixed open Friday, as a global stock selloff eases and investors await U.S. inflation. The biggest item on the data front Friday is the U.S. personal consumption expenditures price index, due at 8:30 a.m. Asia-Pacific markets largely rebounded Friday, as Tokyo's headline inflation slowed slightly to 2.2% in July from 2.3% in May.

Persons: Kamala Harris, Wall, Dow Jones, Mercedes, Stellantis Organizations: New York Stock Exchange, LONDON, Mercedes Benz Locations: U.S, Asia, Pacific, .

☆ Europe stocks set to open lower amid global downturn; earning season ramps up
▼ + stars: | 2024-07-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The Unilever headquarter building seen by the Nieuwe Maas river in Rotterdam. LONDON — European markets are heading for a lower open Thursday, with a flurry of corporate earnings and a selloff on Wall Street in focus. The U.K.'s FTSE 100 was last seen opening 19 points lower at 8,132 points, according to IG data, with Germany's DAX and France's CAC 40 down by 80 points and 45 points, respectively. The pan-European Stoxx 600 index closed 0.6% lower on Wednesday as second-quarter earnings season ramped up. Data will be released on German consumer confidence and euro zone and U.K. business activity, ahead of next week's euro zone gross domestic product second-quarter print.

Persons: Germany's DAX, carmakers Stellantis, Roche Organizations: Unilever, LONDON, CAC, MIB, Nestle, carmakers, Renault, Nasdaq, Deutsche Bank, Nikkei, U.S, Reuters, Bank of Locations: Rotterdam, Swiss, U.S, Asia, Pacific, Bank of Japan

☆ Unilever pops 6% on guidance raise, Ben & Jerry's spinoff on track to complete by end of 2025
▼ + stars: | 2024-07-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Tubs of Ben & Jerry's ice cream in a store freezer in London, UK, on Thursday, April 25, 2024. Unilever Plc said it wanted to shed its ice cream division, which generates around 8 billion ($8.5 billion) in annual sales, in a bid to reverse years of lackluster performance. Unilever shares popped 6.8% on Thursday morning, after the consumer goods giant raised its full-year margin guidance and said the spinoff of its ice cream business was on track to complete by the end of 2025. Beauty and well-being expanded 7.1%, while ice cream lagged other segments with just 0.6% of growth. Organic sales growth came in at 3.9% in the second quarter, missing expectations of a 4.2% expansion forecast by a company-compiled consensus.

Persons: Knorr, Domestos, Jerry's, Jefferies Organizations: Unilever Plc, Unilever Locations: London, British

☆ Deutsche Bank snaps 15-quarter profit streak on Postbank lawsuit provision
▼ + stars: | 2024-07-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt. Deutsche Bank on Wednesday snapped a 15-quarter profit streak with a narrower-than-expected loss, as it made a provision for an ongoing lawsuit over its Postbank division. The long-running lawsuit by investors alleges Deutsche Bank underpaid to take over the retail banking giant in 2010. Other highlights included:Profit before tax excluding the Postbank provision was 1.7 billion euros, up from 1.4 billion euros in the second quarter of 2023. Provision for credit losses was 476 million euros, up from 401 million euros a year ago.

Persons: Deutsche Bank CEO Christian Sewing, James von Moltke, CNBC's Caroline Roth, that's, Von Moltke, we'd, Italy's Organizations: Deutsche Bank, United Kingdom . Deutsche Bank AG, Deutsche Bank CEO Christian, Spain's Santander Locations: City of London, London, United Kingdom, German, Frankfurt

☆ Farnborough Air Show kicks off with $51 billion in deals as Airbus shows off new ultra long-haul jet
▼ + stars: | 2024-07-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

An Airbus A321-XLR takes part in an air display on the opening day of the Farnborough International Airshow 2024, south west of London, on July 22, 2024. FARNBOROUGH, England – The Farnborough Air Show generated deals worth £39.3 billion ($50.8 billion) across its first day, the organizers of one of the biggest events in the aviation world calendar said, as Airbus showcased its new single-aisle long-haul jet. Korean Air signed for 40 wide-body jetliners from the U.S. plane-maker, while Japan Airlines placed a firm order for 10 of its 787-9 Dreamliners, with an option for 10 more. Budget Vietnamese carrier VietJet placed an order for 20 of Airbus's A330neo aircraft on Monday. Airbus meanwhile grabbed the attention of the thousands of trade delegates with an early afternoon display of the soon-to-launch A321XLR, set to be the world's longest-range single-aisle aircraft.

Organizations: Airbus, Farnborough Air, ADS, Boeing, Korean Air, Japan Airlines, Budget, Aer Lingus Locations: London, FARNBOROUGH, England, Farnborough, U.S, Iberia

☆ Flights grounded and passengers warned of delays amid global IT outage
▼ + stars: | 2024-07-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Crowds are seen building up at Suvarnabhumi Airport as a global IT disruption caused by a Microsoft outage and a Crowdstrike IT problem combine to affect users on July 19, 2024 in Bangkok, Thailand. Several airlines halted flights on Friday, while others warned of delays and services being unavailable as the impact of an unprecedented IT outage was felt globally. Organizations including Microsoft were left scrambling to restore apps and services used by a huge number of firms. Airlines across Europe, the Americas and Asia issued updates outlining the suspected extent of impact on their flight schedules and wider services. ET) that operations were "disrupted," excluding flights already en route, and that it would share further updates shortly.

Persons: Stephen Murphy, Grzegorz Drozdz Organizations: Suvarnabhumi Airport, Microsoft, Belfast International, Sky News, KLM, Air Locations: Bangkok, Thailand, Airlines, Europe, Americas, Asia, Air France

☆ How the UK plans to prevent another Liz Truss 'mini-budget' crisis — which triggered huge bond sell-off
▼ + stars: | 2024-07-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

LONDON — The new U.K. government is on Thursday set to propose legislation to prevent "significant uncosted measures" from being announced without an analysis of their impact on public finances. The OBR would be able to produce its analysis at the time of its choosing, according to notes on the bill released Wednesday. The notes contain a veiled reference to what became known as the British "mini-budget crisis" under former Prime Minister Liz Truss and ex-Finance Minister Kwasi Kwarteng. Shortly after taking up their posts in early September 2022, Truss and Kwarteng announced a raft of tax cuts in an unscheduled fiscal announcement that was described by analysts as "seismic." Both Truss and Kwarteng resigned over the turmoil after less than two months in their respective offices, and the majority of the measures were reversed.

Persons: Liz Truss, Kwasi Kwarteng, Kwarteng, Truss Organizations: Labour, Finance, U.S, Bank of England Locations: British

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