European markets fall as investors flock to this week’s Federal Reserve meeting

European markets fall as investors flock to this week’s Federal Reserve meeting

Phillips sales beat expectations despite supply chain volatility, CEO says

Phillips sales beat expectations despite supply chain volatility, CEO says

Philips CEO Roy Jakobs discusses the company’s fourth quarter earnings and strategies to address supply chain shortages and improve overall company profitability.

JD Sports Hit by Cyberattack, Endangering Millions of Historical Data

A JD Sports store on London’s famous Oxford Street.

Sopa Images | Light Rocket | Getty Images

British fashion retail group JD Sports On Monday, it said the personal and financial information of about 10 million customers “may have been accessed” in cyberattacks. According to a statement from the London Stock Exchange.

Future-at-risk data relates to historical orders placed under the chain’s JD, Size™, Millets, Blacks, Scotts, and MilletSport brands between November 2018 and October 2020. increase. This includes the client’s name, billing address, shipping address, email his address, phone number, order details and his last four digits on the customer’s payment card.

The company said it was conducting an investigation and working with the UK Information Commissioner’s Office to contact customers and advise them of the risks of fraud and phishing attacks.

JD Sports’ share price is down just 0.50% from its previous close, reaching $160.8 at 11:58 am London time.

— Ruxandra Yordake

Upcoming central bank rate hikes probably ‘not an event’, economists say

Upcoming central bank rate hikes probably 'not an event', economists say

Tresis chief economist Daniel Lacal said core inflation remains “very high.”

Renault cuts Nissan stake as automakers review decades-old partnership

car giant Renault When Nissan Renault agreed on Monday to restructure its decades-old partnership in a move to cut its stake in Nissan from about 43% to 15%.

The transaction, which is pending board approval, will allow the automakers to “exercise, up to a maximum of 15%, the voting rights attached to their 15% direct holdings at will”, thereby increasing cross-shareholdings in both companies. Both companies said they would even out.

Under the new structure, Renault will transfer a 28.4% stake in Nissan to a French trust.

Renault shares fell 1.6% at 10:40 am London time.

read the full text here.

— Elliott Smith

Legal and general fell 2.5% as CEO Nigel Wilson announced retirement

UK financial services group shares legal and general The stock fell 2.5% after CEO Nigel Wilson announced he was retiring after ten years.

The company said Wilson will remain in the position until a successor is appointed, a process that is expected to take about a year.

Wilson added, “Delivered consistently strong financial performance with total shareholder return in excess of 600% driven by strong growth in dividends, earnings per share and ROE.”

Legal & General shares are down about 11% on a one-year basis.

— Jenny Reid

Stocks in action: Computacenter, Philips rise.prosus slip

British IT service company computer center The 8.8% gain in early trading after announcing expectations of better-than-guidance 2022 results indicates continued inflationary pressures.

Phillips 5% up since announcement Scope of measures Improve profitability by reducing 6,000 employees.

CEO Roy Jacobs told CNBC that the cuts were “a necessary intervention to make us more competitive and streamline the way we move forward in the market.”

At the lowest European stocks, technology investment group Prosus fell 5.5%. The company last week Said As we aim to “strengthen the cost structure,” we plan to reduce costs by about 30%, just like the parent company.

— Jenny Reid

European markets open lower with a view to rate hike

European Stocks 600 The index fell on Monday, with all sectors in the red or flat.

Technology-driven losses were down 1.6% and travel was down 1.2%.

This week’s focus is firmly on the numerous monetary policy decisions by central banks, with the Federal Reserve announcing its next rate hike on Wednesday, followed by the Bank of England and the European Central Bank on Thursday.

Last week’s STOXX 600 index.

Oil to approach $100 a barrel by late 2023, RBC Capital Markets predicts

Oil prices could approach $100 a barrel in the second half, according to RBC Capital Markets’ Michael Tran.

“The bottom line is that China will buy a lot of oil in the coming months,” he said.

Brent Crude oil futures last traded at $86.85 a barrel, while US West Texas Intermediate Futures rose 0.09% to $79.75 a barrel.

Investors and OPEC+ are also waiting to see if the EU will ban Russian oil products. Starts this Sunday, leading to great confusion. The oil cartels are not expected to make any real changes to quotas or production guidance at upcoming meetings, Tran predicts.

— Lee Yingxiang

Adani Enterprises Rise, Group Affiliates Continue Plunge

shares of Adani Enterprise The company’s chief financial officer (CFO) expressed confidence in an additional public offering due to complete on Jan. 31, so the stock rose 10% after seeing sharp losses in the previous session.

The stock is still down more than 20% in the first month of the year.

CNBC Pro: Goldman Sachs names tech stocks with ‘strong runway’ for growth — yielding nearly 70% gains

According to Goldman Sachs, one corner of technology could see “limited appetite” from the market. But investment banks are optimistic.

It lists stocks with near-term opportunities as well as “aggressive picks” that it says can beat peers as the economy recovers.

CNBC Pro subscribers can read more here.

— Tan Weizhen

European Market: Click here for the opening call

European markets are expected to underperform Monday’s opening day as investors focus on the upcoming US Federal Reserve Board meeting which begins on Tuesday. The two-day meeting concludes with the announcement of the central bank’s latest interest rate decision.

British FTSE100 The index is expected to open 13 points lower at 7,745 for Germany. Dax 22 points lower than France’s 15,122 CAC At 7,083, down 9 points, Italy FTSE MIB IG’s data show a 17-point drop to 26,339 points.

Ryanair and Philips are profitable. Spain releases his January provisional inflation data.

— Holly Eliyat

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