German economy posts unexpected growth in third quarter
The German economy grew in the third quarter, going against expectations.
Gross domestic product increased by 0.3% from the previous quarter, despite the country tackling high inflation and energy concerns.
A poll by Reuters had anticipated a 0.2% contraction.
— Hannah Ward-Glenton
Natwest down 7% after reporting flat third quarter results
Natwest is down 7% after reporting flat third quarter results.
The British bank reported a £1.1 billion ($1.3 billion) profit, just missing analyst forecasts.
Natwest set aside an additional £247 million to reflect the difficult economic outlook in the U.K., which ate into profits.
— Hannah Ward-Glenton
We're seeing a "mitigation of growth," not a slowdown, says Bank of America CEO
Bank of America's CEO Brian Moynihan said we're seeing "a mitigation of growth" rather than a slowdown in an exclusive interview with "Squawk Box Europe."
— Hannah Ward-Glenton
Coming up: Bank of America CEO Brian Moynihan live on "Squawk Box Europe"
Bank of America CEO Brian Moynihan will give an exclusive live interview on CNBC's "Squawk Box Europe" at 8.00 a.m. London time.
The bank released its third-quarter earnings on Oct. 17 and stressed that the resilience of the U.S. consumer was a reason to lower concerns for an economic recession.
You can watch the interview live on CNBC here.
— Hannah Ward-Glenton
European markets: Here are the opening calls
The FTSE 100 is expected to be down 32 points to 7,039 and Germany's DAX 67 points lower at 13,155, according to data from IG. The CAC will be down 25 points to open at 6,226 and Italy's MIB will be 89 points lower at 22,347.
— Hannah Ward-Glenton
CNBC Pro: Tech stocks are tumbling but one fund manager still loves Microsoft. Here’s why
Tech stocks have tumbled this week, as investor optimism fades following disappointing results from some of the sector's biggest names.
But fund manager Brian Arcese is standing by Microsoft, calling it a "solid long term defensive holding."
Pro subscribers can read more here.
— Zavier Ong
CNBC Pro: There's a lot of pain ahead for markets, strategist warns
Investors should think twice before chasing the recent bounce in stocks, according to one strategist.
"I think the market rally is a breathing space rally," Beat Wittmann, chairman of Switzerland's Porta Advisors, told CNBC.
CNBC Pro subscribers can read more here.
— Jenni Reid
Chip stocks fall after U.S. official says allies could impose export limits on China soon
Bank of Japan keeps interest rates on hold as expected
Japan's central bank left interest rates unchanged Friday, in line with predictions by economists in a Reuters poll.
The Bank of Japan also said it would purchase necessary amounts of Japanese government bonds at a fixed rate in order to keep 10-year JGB yields at 0%.
"The Bank will support financing, mainly of firms, and maintain stability in financial markets, and will not hesitate to take additional easing measures if necessary," it said in its monetary policy statement.
— Jihye Lee
https://ift.tt/DcQBfz4
Business
Bagikan Berita Ini
0 Response to "European markets lower after central bank rate hike and flurry of earnings reports - CNBC"
Post a Comment