LVMH shares up 2.5%
Shares of luxury group LVMH rose 2.5% in morning trade, even as the luxury goods group posted a slowdown in sales.
Sales grew 3%Â in the first quarter, the company said Tuesday, slipping from 17% growth in the same period of 2023, as higher prices weighed on consumers who aspire to its Louis Vuitton and Dior brands.
â Karen Gilchrist
Europe stocks open higher
European stocks opened higher Wednesday, with the benchmark Stoxx 600 index up 0.12% by 8:05 a.m. London time.
France’s CAC 40 was 0.5% higher and Germany’s DAX was up 0.1%, while the U.K.’s FTSE 100 was flat.
â Karen Gilchrist
UK inflation eases less than expected to 3.2%
City of London skyline view looking over the River Thames and Waterloo Bridge at sunset on 10th February 2024 in London, United Kingdom.
Mike Kemp | In Pictures | Getty Images
U.K. inflation eased to 3.2% in March, new data from the Office for National Statistics showed Wednesday.
The read was slightly higher than the forecast of economists polled by of 3.1%, but was down from 3.4% in February. Core inflation, excluding energy, food, alcohol and tobacco, came in at 4.2%, compared with a forecast of 4.1%.
Investors are closely watching the latest data for a signal on when the Bank of England may cut interest rates.
â Karen Gilchrist
CNBC Pro: ‘Hard to Ignore’: Jefferies says this cybersecurity stock could double â even after jumping 75% in the past year
Investment bank Jefferies is forecasting a nearly 100% increase in the share price of a cybersecurity company from current levels.
The stock appears to have momentum as shares have risen by 75% over the past year and more than doubled since hitting an all-time low in early 2023.
CNBC Pro subscribers can read more here.
â Ganesh Rao
CNBC Pro: Morgan Stanley has named its top global dividend stocks for this quarter
Investing in an increasingly volatile market â amid geopolitical risks, rising bond yields and macroeconomic uncertainty â is no mean feat.
The unpredictability has led some analysts to reiterate their recommendation to buy dividend stocks.
“”The market has been pricing out Fed rate cut expectations from March onward. ‘No landing’ and ‘sticky inflation’ narratives are on the rise again. These translate into a higher UST bond yields and particularly favoring dividend stocks to outperform.”,” Morgan Stanley’s analysts said in a recent note, naming their “high conviction” stocks for this quarter.
CNBC Pro subscribers can read more here.
â Amala Balakrishner
European markets: Here are the opening calls
European markets are set to open higher Wednesday.
The U.K.’s FTSE 100 index is expected to open 39 points higher at 7,848, Germany’s DAX up 47 points at 17,789, France’s CAC 52 points higher at 7,972 and Italy’s FTSE MIB up 93 points at 32,806, according to data from IG.
Earnings will come from ASML and Asos. Data releases include U.K. inflation data for March.
â Holly Ellyatt
Source Agencies
