FTSE 100 opens higher and Diageo rises as investors cheer increased sales and profits By Proactive Investors

2 days ago Investing.com UK

At 8.15am the lead index was up 24 points at 7,768 while the was 93 points to the good at 19,897. But for now the mood is positive with shares in Johnnie Walker owner, , up 2% after it cheered investors with a healthy increase in sales and profits. The stock was a strong performer yesterday in the wake of easyJet’s trading update and higher than expected costs may have prompted some profit-taking. Growth was delivered across most categories, primarily scotch, tequila and beer with premium-plus brands contributing 57% of reported net sales and driving 65% of organic net sales growth. Back in London and Diageo PLC, Rank PLC and Wizz Air Holdings PLC are among the companies updating on trading today.
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FTSE 100 stuck in negative territory, US mixed at the open By Proactive Investors

But the appointment of first, Jeremy Hunt, as chancellor, followed by a new prime minister, Rishi Sunak, has so far restored confidence in the money markets. 11.33am: Rishi Sunak confirmed as PMRishi Sunak has officially been appointed as prime minister after meeting King Charles III at Buckingham Palace. Net interest income improved to $8.58 billion from $6.61 billion, but net fee income fell to $2.78 billion from $3.32 billion. Net insurance premium income slipped to $2.66 billion from $2.72 billion and revenue decreased by 3.2% to $11.62 billion from $12.01 billion. 7.00am: FTSE 100 seen slightly higherThe FTSE 100 is set to open slightly higher on Tuesday following further strong gains in the US and as Rishi Sunak prepares to be officially appointed as prime minister.

3 months ago Investing.com UK

ECB reaffirms rate hike plans even as recession looms large By Reuters

FILE PHOTO: A view of signage outside the European Central Bank (ECB) building in Frankfurt, Germany October 27, 2022. "We will cross the neutral rate -- regardless of where anyone currently sees it -- like a runaway train," Kazimir, Slovakia's central bank chief, said. Italian inflation meanwhile soared to 12.8% in October, far outpacing expectations for 9.9% while French price growth was also well above forecasts. RECESSIONThe hawkish ECB commentary comes as a recession looks now almost certain, prompting a barrage of criticism from European leaders. ECB chief Christine Lagarde pushed back on the criticism on Thursday, arguing that breaking inflation was the ECB's chief mission and governments could help by providing targeted support for the most vulnerable.

3 months ago Investing.com UK

Musk Buys Twitter, Amazon Shocks, PCE Prices

Amazon plunges after missing forecasts for the third quarter and giving disappointing guidance for the current one. Stocks are under pressure as a result, but resilient numbers from Apple are helping to steady the ship. Musk closes Twitter deal, fires top managementElon Musk closed his $44 billion deal to buy Twitter (NYSE: ) and – according to various reports – immediately fired CEO Parag Agrawal and CFO Ned Segal. Stocks set for lower opening as Amazon weighs; consumer data dump eyedAmazon’s weak update is casting a pall over U.S. stock markets, which are set to open lower later. Exxon, Chevron post massive quarter on surging oil pricesCrude oil prices edged lower overnight but are set to end the week near their highs.

3 months ago Investing.com UK

Turkey's Baykar to complete plant in Ukraine in two years -CEO By Reuters

FILE PHOTO: Signature of Turkey's President Recep Tayyip Erdogan is pictured on a Bayraktar drone at SAHA EXPO Defence & Aerospace Exhibition in Istanbul, Turkey, October 27, 2022. REUTERS/Umit Bektas/File PhotoBy Can SezerISTANBUL (Reuters) - Turkish defence company Baykar is planning to complete the construction of its manufacturing plant in Ukraine in two years, its chief executive said on Thursday, after the company became highly renowned for their drones' success in thwarting Russian forces. The aerial drones supplied to Ukraine by Baykar were instrumental in Ukraine's defense against Russian armour and anti-aircraft systems in the first few weeks of the Russian invasion. Its Bayraktar TB2 drone gained so much prominence with the public that Ukrainians composed a song about it and some allies launched unprecedented crowdfunded campaigns to buy more. As part of an agreement between Turkey and Ukraine, signed just before Russia's Feb. 24 invasion, Baykar had agreed to build its second manufacturing plant in Ukraine.

3 months ago Investing.com UK

Inflation, China's COVID bounce, teetering crypto: what'll move markets in 2023 By Investing.com

© ReutersMS +0.92% Add to/Remove from a Portfolio CRCW 7.53% Add to/Remove from a Portfolio USDT/USD 0% Add to/Remove from a Portfolio CHNA 0.00% Add to/Remove from a Portfolio VOWG_p +1.03% Add to/Remove from a Portfolio TSLA +8.08% Add to/Remove from a PortfolioBy Geoffrey SmithInvesting.com -- First the good news: 2022, a nightmare year for both stocks and bonds, is nearly over. Now the bad news: while 2023 is likely to be better, it won’t really seem that way for a while. At least not until the great disconnect between central banks and markets over the outlook for inflation is resolved. Central banks, markets face off over inflation/recessionWithout a doubt, the overarching market theme next year will be the battle between central banks and inflation. The trouble is, markets believe that both institutions are either bluffing or have simply not thought such rhetoric through.

29 days ago Investing.com UK

FTSE 100 slightly lower, easyJet flies high and US markets expected to make a weak start By Proactive Investors

At 8.15am the FTSE 100 was up 8 points at 7,766 while the FTSE 250 rose 22 points to 19,877. In corporate news, easyJet PLC continued to fly high, adding a further 6.6% to the gains already this year after it said full-year profits would beat market expectations. Tullow Oil PLC (LON: ) was also in favour as the West Africa-focused oil producer said it expects its 2022 free cash flow at US$267mln. 7.55am: Bookings flying at easyJet, profits seen above City forecastsUpbeat trading news from easyJet PLC. Back in London and trading updates are expected from easyJet PLC and CMC Markets.

3 days ago Investing.com UK

US Stocks Headed For Another Tough Day Amid Mixed Earnings, Rate Worries — Tesla Extends Losses, Snap Drags Social Media Stocks Lower By Benzinga

Other social media companies Meta Platforms, Inc. (NASDAQ: META), Pinterest (NYSE: ), Inc. (NYSE: PINS) and Twitter, Inc. (NYSE: TWTR) moved in sympathy. (NYSE: SNAP) shares plunged after reporting anemic revenue growth for the third quarter. American Express(NYSE: NYSE: ),(NYSE: VZ) and(NYSE: SLB) are among the companies reporting before the market open. Large-Cap Premarket Movers:Railroad operator CSX Corp. (NYSE: NASDAQ: ) advanced over 3.20% in premarket trading in reaction to its third-quarter results released after the close. (NYSE: NASDAQ: ) advanced over 3.20% in premarket trading in reaction to its third-quarter results released after the close.

3 months ago Investing.com UK

Semiconductor Stocks Lag On Export Uncertainty As Investors Await China's Response By Benzinga

Semiconductor Stocks Lag On Export Uncertainty As Investors Await China's ResponseCHNA +0.00% Add to/Remove from a PortfolioTwo weeks after the Biden administration announced new restrictions on semiconductor exports to China, investors and analysts are still trying to understand how much of a long-term impact the new rules will have on the industry. Why It's Important: Semiconductor stocks have taken a hit since the new rules were announced, with the VanEck Semiconductor ETF (NYSE: SMH) now down 8.4% over the last two weeks. Taiwan Semiconductor Mfg. Co. Ltd. (NYSE: TSM) is down 15%, while Advanced Micro Devices (NASDAQ: ), Inc. (NASDAQ: AMD) is down 14.5% and Skyworks (NASDAQ: ) Solutions Inc (NASDAQ: SWKS) is down 11%. Bank of America (NYSE: ) analyst Brad Lin estimates the export restrictions will impact Taiwan Semi's sales by less than 2%.

3 months ago Investing.com UK

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