Stocks, News, Data and Earnings

52 minutes ago

Ecora Resources CEO: Commodity supply growth bleak

Marc Bishop Lafleche, CEO of Ecora Resources, discusses full-year results and the company’s investment in renewable energy, infrastructure and commodities.

An hour ago

UBS Extends Gains After CEO Takeover News; Shares rose 4%

Check out the chart…

A graph showing the price of UBS shares.

Ermotti was group CEO at UBS from November 2011 to October 2020 and led the bank after the financial collapse.

The banking sector as a whole rose 1.8%.

– Hannah Ward-Glenton

An hour ago

HSBC CIO says economic outlook is ‘very dull’ but don’t be too bearish on stocks

Willem Sells, global chief investment officer at HSBC Private Bank, discusses the twists and turns in financial markets from the start of 2023 and shares his outlook for the rest of the year.

2 hours ago

‘Call of Duty’: With Sergio Ermotti, Switzerland cuts local spending to restore its reputation

Newly appointed UBS CEO Sergio Ermotti (R) arrives next to UBS Chairman Colm Kelleher (C) and outgoing CEO Ralph Hamers during a press conference in Zurich on March 29, 2023.

Arndt Wiegmann Afp | Good pictures

Incoming UBS CEO Sergio Ermotti on Wednesday said his return to the helm was a “call to duty” as the Swiss tasked with restoring order to the country’s financial reputation.

UBS announced on Wednesday that it will replace former CEO Ralf Hammers effective April 5 as the Swiss bank begins a threatening integration of collapsed rival Credit Suisse into its business following an emergency takeover earlier this month.

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Asked during a press conference Wednesday by CNBC about his motivation to leave his post as chairman of reinsurance giant Swiss Re and return to UBS, Ermotti said there was an “element of obligation” to the decision, which comes at a critical time for the Swiss bank. system.

“And frankly, despite all the discussions and the amount of banking, I always thought the next chapter I wanted to write was a chapter to do a transaction like this,” Ermotti added.

Read the full story here.

– Elliott Smith

2 hours ago

A combined UBS-Credit Suisse is not good for the financial system in the long run, strategist says

Peter Cornry, head of equity strategy at Saxo Bank, says there are big questions to consider as the Swiss banking giants merge.

4 hours ago

Danish Energy Agency: Renewables are the answer to Europe’s energy sovereignty

Kristoffer Böttzauw, director general of the Danish Energy Agency, speaks with CNBC’s Annette Weisbach at the Berlin Energy Transition Dialogue conference.

5 hours ago

Stocks moving: OCI up 13%, Maersk down 25%

Chemicals major OCI topped the Stoxx 600 index in morning trade.

The stock rose 13% after the company said On Tuesday it will review recommendations made in a letter from Capital Partners, which includes the shareholder, which said it trades at a significant discount to its intrinsic value.

Meanwhile, shipping giant Moeller-Maersk fell 25% on its ex-dividend day. Company on Tuesday declared At its annual general meeting it will pay an extraordinary dividend of 2,300 Danish kroner ($335 dollars) in addition to a regular dividend of 2,000.00 DKK per share.

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Check out the chart…

Maersk share price.

6 hours ago

Sergio Ermotti returns as UBS CEO to oversee Credit Suisse acquisition

CNBC’s Joumanna Bercetche and Geoff Cutmore discuss the news that Sergio Ermotti will replace current UBS CEO Ralph Hamers.

7 hours ago

Ermotti UBS CEO appointment will calm nerves and boost confidence in Swiss banks: Analyst

Pete Whitman, partner at Porta Advisors, discusses UBS’s appointment of Sergio Ermotti as CEO.

7 hours ago

European stocks opened higher

European stock markets were upbeat in early trade on Wednesday, with the pan-regional Stocks 600 index up 0.5% at 8:20 a.m. London time.

France’s CAC 40 rose 0.65%, Germany’s DAX 0.42% and the UK’s FTSE 100 rose 0.26%.

Banks extended the previous session’s gains, rising 0.5%.

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Stoxx 600 Index.

9 hours ago

Sergio Ermotti to take over as UBS CEO

UBS on Wednesday appointed Sergio Ermotti as its new group CEO, following the recent acquisition deal of Credit Suisse.

The move will come into effect from April 5.

Current CEO Ralf Hamers will continue to work at UBS and Sergio B. will advise the bank during a transition period. He is going to work with Ermotti.

Read the full story here.

– Jonah Tan, Jihye Lee

11 hours ago

CNBC Pro: Investing $10,000 Now According to the Pro

15 hours ago

CNBC Pro: As volatility lingers, this is what investors can expect in the second quarter — according to history

Stock markets edged higher in the first quarter of 2023, with the S&P 500 and MSCI World Index on track to post a total gain of more than 4%.

This is especially significant after a year of negative returns.

Here, CNBC Pro subscribers can read how markets have historically performed at similar levels.

– Ganesh Rao

11 hours ago

European markets: Here are the opening calls

European markets are broadly headed higher on Wednesday.

UK’s FTSE 100 index is expected to drop 2 points to 7,485, Germany’s DAX is expected to rise 35 points to 15,175, France’s CAC is up 15 points to 7,103 and Italy’s FTSE MIB is expected to rise 57 points to 25,915.

Next up are earnings and data releases including Italian and Russian unemployment figures for February.

– Holly Elliott

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