Stocks, data, earnings and news

Stocks on the move: Ubisoft down 21%, Logica down 14%, Centrica up 5%

Shares of the French video game publisher Ubisoft plunged more than 21% in early trading after the company cut its revenue forecast, postponed the release of its new game “Skull & Bones” and canceled three unannounced games.

Swiss computer peripheral company Logitech fell more than 14% after it missed quarterly earnings guidance and cut its sales outlook.

At the top of the European blue chip index, the British gas owner Central climbed more than 5% after raising its full-year earnings forecast.

Chinese consumer price index up 1.8% in December

Inflation in China accelerated to 1.8% in December from a year ago as food prices rose, according to data from the National Bureau of Statistics.

“Prices of fresh vegetables and fresh fruits increased by 7.0% and 4.7% respectively,” the report said.

The CPI figure was in line with Reuters expectations and above the previous month’s reading of 1.6%.

The reading was also steady with November, improving after a 0.2% drop.

China’s producer price index fell 0.7% in December from a year ago, worse than expectations of a 0.1% drop.

— Lee Ying Shan

CNBC Pro: Morgan Stanley names its ‘top pick’ in Chinese tech – and gives it more than 70% upside

China’s tech sector has come under pressure in recent years, thanks to a regulatory crackdown and fallout from the country’s zero-Covid policy.

But Wall Street is once again giving Chinese tech stocks some love, and Morgan Stanley named it its “top pick” in the sector.

Pro subscribers can learn more here.

— Zavier Ong

CNBC Pro: Morgan Stanley Says These 3 Companies Are Taking Sustainability Seriously — And Have An Advantage

As investments in sustainability take off, companies are also increasingly adopting sustainable practices.

Morgan Stanley offers three selections of European stocks to help sustainability-focused investors. These companies not only have strong ESG credentials, but also financial performance to boot.

Pro subscribers can learn more here.

— Zavier Ong

Stocks close higher as investors brace for Thursday’s inflation reading

Shares ended higher on Wednesday as investors positioned themselves optimistic ahead of Thursday’s CPI report.

The Nasdaq Compound gained 1.8%, marking a four-day streak. A rally of such duration has not been seen in the tech-heavy index since September.

The Dow finished over 260 points, or 0.8%.

The S&P500 added 1.3%. All 11 sectors in the broad index ended the day higher, led by real estate with a gain of 3.6%.

—Alex Harring

European markets: here are the opening calls

European markets head for a higher open on Thursday as investors brace for U.S. consumer price data for December.

The United Kingdom FTSE100 the index is expected to open 21 points higher at 7,746, Germany DAX 37 points higher at 14,985, France CAC up 22 points to 6,946 and Italy MIB FTSE up 36 points to 25,583, according to IG data.

Revenue is expected to come from Tesco, Marks & Spencer, ASOS and Persimmon. There are no major data releases in Europe.

—Holly Ellyatt

Leave a Reply

Your email address will not be published. Required fields are marked *