3 Hours Ago
Volvo falls 3.8% on plans to dilute EV stake
A Volvo XC60 is offered for sale at a dealership on October 04, 2021 in Chicago, Illinois.
Scott Olson | Getty Images
Volvo shares fell 3.8% on Friday after announcing plans to dilute 62.7% of its stake in Swedish electric vehicle manufacturer Polestar Automotive Holding among shareholders.
The Swedish carmaker’s involvement in Polestar had been criticized by analysts, who consider it a drag on Volvo’s resources, according to Reuters.
— Karen Gilchrist
3 Hours Ago
Stocks on the move: Standard Chartered up 6.6%, Lufthansa down 4.5%
Shares of Standard Chartered jumped to the top of the Stoxx 600 in early deals, adding 6.6%, after the company reported an increase in pre-tax profits in its full-year results and announced a $1 billion share buyback program.
Meantime, Lufthansa shares fell 4.5% as ongoing strikes over staff salaries weigh on the German airline.
— Karen Gilchrist
11 Hours Ago
CNBC Pro: Want a Nvidia alternative? These 6 chip suppliers look set to gain big from the AI boom
A number of stocks that supply Nvidia look set to gain from the AI boom, as the U.S. chip giant published another bumper quarter of earnings.
The acceleration in the AI trend also means that its suppliers’ network stands to benefit directly or indirectly from the growth.
CNBC screened for companies that are Nvidia suppliers and look set to gain from the AI growth story.
CNBC Pro subscribers can read more here.
— Ganesh Rao
11 Hours Ago
CNBC Pro: Goldman Sachs reveals the ‘Seven Samurai’ — Japan’s version of the ‘Magnificent Seven’ stocks
4 Hours Ago
European markets: Here are the opening calls
European markets are set to open higher Friday.
The U.K.’s FTSE 100 index is expected to open 4 points lower at 7,686, Germany’s DAX up 23 points at 17,396, France’s CAC 6 points higher at 7,921 and Italy’s FTSE MIB down 4 points at 32,403, according to data from IG.
Earnings are due from Allianz, BASF and Standard Chartered on Friday, and Germany is set to release its fourth-quarter gross domestic product data.
— Karen Gilchrist
