Renault shares rise 5%
The electric Renault 5 was unveiled at the Auto Summit at the Porte de Versailles Exhibition Center on October 15, 2024 in Paris, France.
Stephen Muchimuch | Hans Lucas | AFP | Getty Images
Shares of French carmaker Renault were up 5.39% as of 8:21 a.m. London time, followed by Report Nissan and Honda will enter merger talks.
Renault owns a minority stake in Nissan and its Tokyo-listed shares rose 24% in Asian trading – their Best day in forty years.
—Chloe Taylor
UK inflation rises to 2.6%
Bank of England (BOE) on Monday, December 16, 2024 in the City of London, England.
Jason Alden | Bloomberg | Getty Images
UK inflation rose to 2.6% as of November, in line with expectations but further weakening hopes for an interest rate cut by the Bank of England on Thursday.
UK annual inflation rate is 2.3% October.
As of 7:05 a.m., UK 10-year gilt yields were little changed at 4.519%, while sterling was down 0.07% against the dollar, trading around $1.2700.
According to overnight index swap data, the market is currently widely expected to keep the key interest rate at 4.75% at the last meeting of the Monetary Policy Committee this year.
—Chloe Taylor
Pound falls ahead of UK inflation data
Carol Sereves | Light Rocket | Getty Images
The pound fell against the dollar and euro on Wednesday morning as investors awaited the latest UK inflation data and a policy update from the Bank of England.
As of 6:35 a.m. London time, the pound was down about 0.1% against the euro and 0.06% against the dollar.
November inflation data will be released on Wednesday morning after official data showed UK wages rose Up 5.2% in the three months to Octoberwhile the national economy unexpectedly contracted that month.
On Thursday, the Bank of England will make its final monetary policy decision for the year.
—Chloe Taylor
CNBC Pro: Nvidia falls into retracement territory, these 6 stocks are rising
Among them, six stocks S&P 500 Index According to CNBC Pro’s analysis, these data have been negatively correlated with Nvidia’s stock price movements over the past month.
Five of these six stocks have also gained an average of 6.75% as Nvidia retreats from its all-time highs.
Just as Nvidia is in trouble correction area This week, that means it’s down more than 10% from the closing high of $148.88 it reached last month.
CNBC Pro subscribers can read more here.
— Ganesh Rao
European Markets: Here are the opening calls
European markets are expected to open lower on Wednesday.
British FTSE 100 German stocks are expected to open 8 points lower at 8,191 German DAX Index France fell 48 points to 20,202 CAC Down 10 points to 7,353 points, Italy FTSE MIB It fell 100 points to 34,258 points, according to IG data.
The data release will include UK inflation data.
— Holly Elliot
