European markets open to close, earnings, data and news

Natwest fell 7% after reporting flat third-quarter results

wet west is down 7% after reporting flat third quarter results.

The British bank reported a profit of £1.1 billion ($1.3 billion), just missing analyst forecasts.

Natwest has set aside an additional £247m to reflect the difficult economic outlook in the UK, which has eaten into profits.

— Hannah Ward-Glenton

On the Road: 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 8am London time.

The bank released its third-quarter earnings on October 17 and emphasized that the resilience of the US consumer is a reason to reduce concerns about an economic recession.

Also Read :  Inflation data raises doubts about whether Fed will 'stay the course': Morning Brief

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 at 7,039 and Germany’s DAX down 67 points 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 down 89 points at 22,347.

CNBC Pro: Tech stocks are tumbling, but one fund manager still loves Microsoft. Here’s why

Technology stocks tumbled this week as investor optimism faded after disappointing results from some of the sector’s biggest names.

Also Read :  Be ready to 'pounce' when the market is oversold

But fund manager Brian Arcese stands by Microsoftcalling it a “firm long-term defensive posture.”

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 rally,” Beat Wittmann, chairman of Switzerland’s Porta Advisors, told CNBC.

CNBC Pro subscribers can read more here.

Jennifer Reid

Chip stocks fall after US official says allies may soon impose export restrictions on China

Bank of Japan holds interest rates as expected

Japan’s central bank left interest rates unchanged on Friday, in line with forecasts by economists in a Reuters poll.

Also Read :  LeBron James Calls for Action Against Hate Speech After Elon Musk's Twitter Takeover | News, Scores, Highlights, Stats, and Rumors

The Bank of Japan also said it would buy the necessary amounts of Japanese government bonds at a fixed rate to keep 10-year JGB yields at 0%.

“The Bank will support financing, mainly from companies, and maintain stability in financial markets, and will not hesitate to take additional relief measures if necessary,” it said in its monetary policy statement.

– Jihye Lee


Leave a Reply

Your email address will not be published.

Related Articles

Back to top button