Fed’s quarter-point rate hike reaction

ING’s CFO says the pace of net interest income will continue to increase

ING's CFO says the pace of net interest income will continue to increase

Tanate Phutrakul, ING’s chief financial officer, said the fourth-quarter net profit was better than expected.

Stocks on the move: Telecom Italia down 11%, Electrolux down 8.5%

Bloomberg | Bloomberg | Getty Images

Telecom Italy topped European stocks in early trade, rising 11% following reports that US private equity firm KKR & Co Inc was preparing an offline bid for its fixed-line network.

The network is providing key support to the struggling company’s huge debt load, Reuters reported.

In the meantime, Electrolux It fell 8.5% after warnings that it would see lower sales this year and could be hurt by energy and labor costs.

– Jenny Reid

European markets rise ahead of central bank announcements

Europe’s Stoxx 600 opened 0.5% higher as investors braced for interest rate hike decisions from the Bank of England and the European Central Bank this afternoon.

It provides a reduction in the last three sessions. After the European close on Wednesday, the US Federal Reserve announced a modest increase of 25 basis points – but signaled few that its hiking cycle is coming to an end.

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In Germany, the DAX increased by 0.65 percent, the CAC 40 of France increased by 0.6 percent, and the FTSE 100 of the United Kingdom increased by 0.2 percent.

Deutsche Bank beats fourth-quarter profit expectations

Deutsche Bank reported its 10th straight quarter of profit, citing a boost from higher interest rates and favorable market conditions.

The German lender reported net profit attributable to shareholders of 1.8 billion euros ($1.98 billion) for the fourth quarter, pushing its annual net income to 5 billion euros in 2022, up 159% from last year. was increased

That nearly doubled a consensus estimate among analysts polled by Reuters of net profit of 910.93 million euros in the fourth quarter, beating a year-on-year forecast of 4.29 billion euros.

Read the full story here.

Deutsche Bank share price

CNBC Pro: JPMorgan says Hong Kong stocks rebound in February and names 5 stocks to own

JPMorgan named five stocks amid an expected surge in the broader Chinese stock market in February.

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Strategists at a Wall Street bank described last week’s sell-off in Hong Kong-listed shares as a gain for some investors.

They said the broader stock market will “turn higher” this month but return to “quality lags in consumption as well as cyclical and growth areas in value.”

CNBC Pro subscribers can read more about the 5 stocks that JPMorgan named.

– Ganesh Rao

CNBC Pro: Beware of tech stocks — these cash-rich names are a better bet, analysts say

Forget growth companies like tech. Analysts recommend that investors go for companies with a lot of money.

The market rallied in January — including the tech-heavy Nasdaq Composite, which rose nearly 10.7% last month for its best monthly performance since July.

But analysts say companies with pricing power are a safer bet than technology, given inflation is expected to remain high this year and uncertainty around when the US Federal Reserve will cut interest rates.

They named three stocks to buy.

CNBC Pro subscribers can read more here.

– Weizhen Tan

CNBC Pro: Worried about falling Alibaba share price? Analysts have 4 alternative technology options

Shares in Alibaba have enjoyed a strong recovery this year, although a recent drop in its share price has some investors worried.

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But Wall Street’s favorite is far from the only game in town, with many stocks also offering exposure to the Chinese Internet sector.

Pro subscribers can read more here.

– Zavier Ong

European Markets: Here are the opening calls

European markets are headed for a higher open on Thursday as markets react positively to the US Federal Reserve’s quarter point rate hike.

British ones FTSE 100 The index is expected to increase by 31 points to 7788, in Germany DAX 101 points higher at 15,273, France CAC up 35 points in 7,109 and Italy FTSE MIB 121 points at 26,870, according to IG data.

On Thursday, investors in Europe will focus on the latest monetary policy decisions from the European Central Bank and the Bank of England.

It’s a busy day for earnings with reports from Shell, BT Group, Deutsche Bank, Banco Santander, ABB, Julius Baer and Roche.

– Holly Elliott


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