2 hours ago
Wheat futures continue to rise amid Ukraine export concerns
Wheat futures continued to rise on Thursday after Russia dropped weapons on Ukrainian port cities and storage infrastructure for a third day after it pulled out of talks on a Black Sea export deal.
Chicago wheat contracts for September expiration rose 2.65% to a three-week high at 9:44 a.m. London time, after rising 8% on Wednesday.
Check out the chart…
Wheat futures expire in September.
3 hours before
Stocks on the move: Electrolux, equity down 8%; Hikma is up 7%
Shares of Swedish health and hygiene products company Essity and home appliance maker Electrolux fell more than 8% in early trade after missing second-quarter earnings expectations.
At the top of the Stoxx 600, shares of British pharmaceutical company Hikma rose 7%.
– Elliott Smith
3 hours before
Europe opened cautiously as tech stocks weighed on US earnings
The pan-European Stoxx 600 opened 0.2% lower on Thursday, with tech stocks falling 2% on weak state earnings, while mining stocks added 0.8%.
European tech stocks trailed their US peers in early trade. Nasdaq 100 futures fell after evening trading on Wednesday after Netflix missed second-quarter earnings expectations, while Tesla CEO Elon Musk and other executives said on an earnings call that they expect a slowdown in auto production in the third quarter.
– Elliott Smith
4 hours ago
German producer prices edged up an inch on the year in June
German producer prices rose 0.1% year-on-year in June, the Federal Statistics Office said on Thursday, slightly beating analyst expectations for no annual change.
5 hours ago
Here are the opening calls in Europe
Britain’s FTSE 100 is expected to rise by 2 points to 7,590, Germany’s DAX by 2 points to 16,107 and France’s CAC 40 by 5 points to 7,332.
– Elliott Smith
5 hours ago
China’s state-owned banks buy yuan short: Reuters
In early trade on Thursday, China’s major state-owned banks sold dollars to buy yuan in the offshore spot market. Reuters reported.
Citing two people “with direct knowledge of the matter”, one of the sources told Reuters that such moves were meant to slow down the yuan’s decline.
The offshore yuan strengthened 0.66% in the afternoon, trading at 7.1839 against the greenback.
8 hours ago
CNBC Pro: Goldman Sachs shares its top stock picks for China AI — and 2 more on its punishment list
Goldman Sachs names Chinese stocks likely to benefit from growth in artificial intelligence – and two others are on the bank’s punishment list of buy-rated names.
In two research notes dated July 16, Goldman gave an overview of the opportunities and risks created by generative AI and picked stocks that could benefit.
CNBC Pro subscribers can read more here.
– Lucy Handley
8 hours ago
CNBC Pro: ASML shares are up more than 30% this year. Wall Street sees stocks go up
ASML’s shares have soared this year on buzz about semiconductor companies and artificial intelligence — its Netherlands-listed shares are up 32% year-to-date, while its US-listed shares are up nearly 40%.
But it faces several risks, including US-China tensions.
Where does the stock go from here? Found by CNBC Pro Wall Street Research.
CNBC Pro subscribers can read more here.
– Weissen Don
