20 Mins ago
Stocks moving: OCI up 13%, Maersk down 25%
Chemical company OCI led the Stoxx 600 index in late morning trading.
The stock rose 13% after the company said On Tuesday, it will review recommendations made in a letter from shareholder Inclusive Capital Partners, which said it was trading at a significant discount to its intrinsic value.
Shipping giant Moeller-Maersk, meanwhile, fell 25% on its ex-dividend day. The company on Tuesday announced at its annual general meeting it will pay an extraordinary dividend of 2,300 Danish krone ($335 dollars) in addition to a regular dividend of DKK 2,000.00 per share.
Maersk’s share price.
2 Hours ago
Sergio Ermotti returns as CEO of UBS to oversee the acquisition of Credit Suisse
CNBC’s Joumanna Bercetche and Geoff Cutmore discuss the news that Sergio Ermotti will replace current UBS CEO Ralph Hamers.
2 Hours ago
Ermotti UBS CEO appointment will calm nerves and build confidence in Swiss banks: analyst
Beat Wittmann, partner at Porta Advisors, discusses UBS’s appointment of Sergio Ermotti as CEO.
3 Hours ago
European stocks open higher
European stock markets were buoyant in early trading on Wednesday, with the pan-regional Stoxx 600 index up 0.5% at 8:20 am London time.
France’s CAC 40 rose 0.65%, Germany’s DAX 0.42% and the UK’s FTSE 100 0.26%.
Banks extended gains in the previous session, climbing 0.5%.
Stoxx 600 index.
5 hours ago
Sergio Ermotti to take over as UBS CEO
UBS on Wednesday named Sergio Ermotti as its new Group CEO, following the recent acquisition deal of Credit Suisse.
The move will take effect on April 5.
Current CEO Ralph Hamers is set to remain at UBS and work with Sergio P. Ermotti to advise the bank during the transition.
Read the full story here.
— Joanna Tan, Jihye Lee
6 hours ago
CNBC Pro: Here’s where to invest $10,000 today, according to the pros
Markets have been hit by volatility over the past month that has led some retail investors to question where to park their money.
If you have $10,000 to invest, where should you put it amid uncertainty, and how much should you allocate to each asset class? CNBC Pro talks to portfolio managers and investors to find out.
CNBC Pro subscribers can read more here.
— Weizhen Tan
10 Hours ago
CNBC Pro: As volatility continues, here’s what investors can expect in the second quarter — historically
Stock markets are on an upward trend in the first quarter of 2023, with the S&P 500 and MSCI World Index on track to post more than 4% in total gains.
This is particularly noticeable after a year of negative returns.
Here, CNBC Pro subscribers can read how markets have performed in similar conditions historically.
— Ganesh Rao
6 hours ago
European markets: Here are the opening calls
European markets are headed for a higher open Wednesday.
The UK’s FTSE 100 index is expected to open 2 points lower at 7,485, Germany’s DAX is 35 points higher at 15,175, France’s CAC is up 15 points at 7,103 and Italy’s FTSE MIB is 57 score higher than 25,915, according to data from IG.
Earnings are set to come in Next and data releases will include Italian and Russian unemployment numbers for February.
— Holly Elliott