30 minutes ago
Turkey’s BIST-100 fell as much as 6% on the back of the presidential election results
Turkey’s BIST-100 index fell 6% as markets opened, as investors responded to the uncertainty raised by the results of the country’s inconclusive presidential election.
Turkey is now facing an unprecedented run-off after Recep Tayyip Erdogan received no more than 50% of the vote, and his rival, Kemal Kilicdaroglu, did not receive more than 50% of the vote.
– Hannah Ward Glinton
45 minutes ago
The World Platinum Investment Council says the platinum shortage in 2023 will be worse than expected
The global platinum shortage will be worse than expected in 2023, according to the latest report from the World Platinum Investment Council.
The WPIC report said the 2023 platinum deficit will be about 983,000 ounces (983 koz), an upward revision of 77% from its latest forecast in March.
see chart…
Platinum price chart.
Global platinum demand will be up 28% this year compared to last year, while supply will be down 1% year-on-year.
– Hannah Ward Glinton
6 hours ago
CNBC Pro: UBS is betting European banks are betting on automakers right now. Here’s why
European bank stocks are poised to outperform automakers for the foreseeable future, according to UBS.
The investment bank highlighted three structural changes that could lead to big gains for bank stocks over their auto counterparts, despite the similarities in their economic cycles.
CNBC Pro subscribers can read more about these three reasons here.
– Ganesh Rao
6 hours ago
CNBC Pro: Bank of America Loves These 10 Unloved Global Stocks With a Big Rally
Bank of America strategists have named the 10 European stocks they believe are currently undervalued and can provide significant investment returns.
These picks, which the investment bank refers to as the “Beat Factor Top 10,” consist primarily of industrial and financial companies.
According to the investment bank, one stock is projecting an upside of more than 60% over the next 12 months.
CNBC Pro subscribers can read more here.
– Ganesh Rao
4 hours ago
European Markets: Here are the opening calls
European markets are preparing to start the new trading week in mixed territory.
Britain’s FTSE 100 is expected to open 1 point higher at 7751, Germany’s DAX 10 points higher at 15,895, France’s CAC 3 points at 7,401 and Italy’s FTSE MIB 7 points at 27,085, according to data from IG.
Profits are set to come from Porsche.
– Holly Ellytt
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