Stocks on the move: Leonardo down 4%, Ocato down 8%
Shares of the British digital grocer Okado The company fell more than 8% in early trade after the company missed fourth-quarter sales estimates as customers bought less per order amid the UK’s cost-of-living crisis.
On top of the European blue chip index, the Italian Space and Defense Agency Leonardo 4.5% added.
CNBC Pro: This under-the-radar share of global carbon capture could rise 65%, investment banks say
Shares of the under-the-radar carbon capture company are expected to rise 65% as global demand for emissions-reduction technology grows, according to investment banks analyzing the stock.
The company’s latest innovation, revealed last week, is according to analysts at the German investment bank.
– Ganesh Rao
2023 where major indices are in the first two weeks of trading
In the first two weeks of 2023 trading, three major indexes have risen year-to-date.
The Nasdaq Composite Leading the way, investors added 5.9% and bought failing tech stocks in hopes of improving the landscape of growth stocks. The S&P 500 And Dow followed by 4.2% and 3.5% respectively.
– Alex Haring
China’s retail sales beat estimates as economy expands more than expected
China’s December retail sales It fell just 1.8% on an annual basis, beating estimates, compared to the 8.6% decline predicted in a Reuters poll.
Industrial production also grew 1.3% in December, beating expectations for a 0.2% increase.
In the fourth quarter, China’s economy expanded 2.9% on an annual basis, better than the expected 1.8% growth. Although quarterly growth was flat, it still beat expectations for a 0.8% contraction.
Despite the better-than-expected data, the Chinese yuan weakened against the US dollar from 6.7403 to 6.7563 shortly after the release.
European markets: Here are the opening calls
European markets are headed for a flat lower on Tuesday as concerns about the global economy are heavily discussed at this week’s World Economic Forum in Davos.
of England FTSE 100 The index is expected to open 1 point higher at 7,862, Germany DAX France, down 31 points to 15,111 CAC Italy’s fell 14 points to 7,033 FTSE MIB According to IG data, it was down 37 points to 25,836.
CNBC spoke with several representatives at the World Economic Forum on Tuesday, including the leaders of Spain, Latvia, Lithuania and Poland, and the CEOs of Unilever, UPS, Allianz and Swiss Re. Follow our coverage here.
– Holly Elliott