European stocks, markets, earnings, data and news

Credit Suisse Shares fell 9% on Monday as market concerns over the Swiss bank’s capital position persisted after a surge in credit default swaps.

Reuters reported on Friday that Credit Suisse CEO Ulrich Koerner told employees in an internal memo that capital and liquidity are strong.

Credit Suisse is due to announce the results of its strategic review in October. 27.

At the bottom of the Stoxx 600, Axelron It sank more than 12% on its market debut on the SIX Swiss Stock Exchange in Zurich, after the first ABB The turbocharging unit was manufactured by the Swiss automation company.

The British pound Monday morning jumped on reports that the UK government will reverse its plans to scrap the highest rate of income tax.

Sterling gained 0.8% against the dollar to trade at around $1.1250 shortly after 7am London time, bringing the pound back to the level seen before. Announcement by Finance Minister Kwasi Kwarting A set of widely criticized tax cuts on September 3rd. 23.

Before the OPEC+ meeting in October. At 5, ANZ sees a “significant opportunity for a cut” of up to 1 million barrels per day, the company’s analysts said in a note.

This move is likely to be made to “counter the excessive bearishness in the market”.

The memo added that any production cuts of less than 500,000 barrels per day “will be ignored by the market.”

– Jie Lee

Exchange-traded funds offer the advantage of diversification, says John Mayer, chief investment officer of Global X ETFs. He said the ETF market is “steadily growing” and is estimated to be worth around $10 trillion.

Names many opportunities for ETF investors in this volatile market.

Professional subscribers can Read more here.

– Xavier Ong

New research from HSBC says supply chains, geopolitical tensions and deteriorating financial conditions have forced many global companies to turn “significantly” inward in search of resilient revenue and growth.

In a tough economic environment with recession pressures, the bank said an inward turn “may be beneficial” for these stocks.

The report is entitled “The wave of deglobalization?” He said foreign sales of European companies fell to less than 50% in 2021, the lowest level in the past five years.

European shares are expected to open their doors in negative territory on Wednesday as investors react to the latest US inflation data.

The UK FTSE is expected to fall 47 points at 7341, the German DAX 86 is down at 13106, the French CAC 40 is down 28 points, and the Italian FTSE MIB is down 132 points at 22010, according to data from IG.

Global markets fell after a higher than expected US Consumer Price Index The Bureau of Labor Statistics reported Tuesday that an August report that showed prices rose 0.1% for the month and 8.3% annually in August, defying economists’ expectations that headline inflation will fall 0.1% on a monthly basis.

Core CPI, which excludes volatile food and energy costs, rose 0.6% from July and 6.3% from August 2021.

UK inflation figures are due for August, and Eurozone industrial production for July will be published.

– Holly Elliot