European stocks open mixed
Stoxx 600 Index.
European stocks opened mixed on Thursday as investors assessed political uncertainty in France.
8:11 AM London France’s CAC 40 rose 0.13% and Germany’s DAX rose 0.06%. Britain’s FTSE 100 fell 0.05%.
—Jenny Reed
France faces bond market turmoil, but not Greece in 2010, economist says
France faces an unsustainable debt trajectory and high bond yields, but the situation is different Greek sovereign debt crisis George Lagarias, chief economist at Forvis Mazars, said in 2010
“France was not insolvent to begin with, A, B, the big countries, the G7 countries, they are not going to have a debt crisis in the 21st century. That is the purview of the smaller countries. Greece was already insolvent before any of this happened. ,” Lagarias told CNBC.European scream box.“
France has faced months of political instability since snap elections in the summer, with its minority government ousted in a no-confidence vote on Wednesday.
France’s borrowing costs have risen to a 12-year high relative to Germany amid concerns it won’t be able to pass a deficit-cutting budget, while its bond yields are on par with Greece’s for the first time on record. Analysts viewed this as a symbolic milestone given that France’s fundamentals are stronger and Greece’s market history is turbulent, with its bonds being downgraded to junk status in 2010 and subsequently bailed out.
“France is going through something, it’s political turmoil… there may be some jitters in the bond market because the bond market is very jittery about things like inflation and tariffs. So, you know, some of that may trickle down into the bond market going forward. There are some uncertainties about the development, but France is not Greece,” Lagarias said.
“We have to admit that this is not a eurozone crisis and[countries]can borrow their way out of this, just not at the rate they are used to. Our debt is accelerating and this is happening around the world now. The United States is to blame. “
—Jenny Reed
Shell and Equinor to jointly create UK’s largest independent oil and gas company
UK regulator approves Vodafone merger with Big Three
UK Competition and Markets Authority Monday Approve merger Telecommunications companies Vodafone and Three.
The CMA has developed a number of situation The £15 billion ($19.5 billion) deal includes the companies committing billions of dollars to roll out a joint 5G network across the UK
The organization has Concerns previously raised The combined entity would result in price increases for tens of millions of customers or result in less service for some users.
Vodafone share price.
Read the full story here.
—Jenny Reed
Bitcoin tops $100,000 for first time
The price is Bitcoin It broke the long-awaited $100,000 benchmark for the first time on Wednesday night.
The flagship cryptocurrency was last up more than 7% at $102,879.60, according to Coin Metrics. It had previously risen to $103,844.05.
The move came hours after the president-elect Donald Trump Announcing plans to nominate Paul Atkins Serves as Chairman of the Securities and Exchange Commission. On the same day, Federal Reserve Chairman Powell said that Bitcoin is “just like gold, except that it is virtual and digital.” Speak at DealBook Conference.
For more on Bitcoin’s historic milestone, read our full article here.
— Tanaya Machel
CNBC Pro: “Staying invested is key,” says Julius Baer portfolio manager. This is how she invests
As 2025 approaches, continued uncertainty in financial markets raises questions about portfolio construction and how to invest across asset classes.
A long-term investor participates in the market now by staying invested and diversified.
“We believe it is key to stay invested and treat any potential corrections as technical and temporary opportunities to enter the market,” said Aneka Beneby, portfolio manager at Julius Baer International.
She also revealed how and what she’s allocating ahead of the New Year.
CNBC Pro subscribers can read more here.
— Amala Balakrishna
European Markets: Here are the opening calls
European markets are expected to open lower on Thursday.
British FTSE 100 German stocks are expected to open 17 points lower at 8,342 German DAX Index France fell 7 points to 20,225 CAC Down 28 points to 7,275 points, Italy FTSE MIB It fell 82 points to 33,747, according to IG data.
There are no major earnings or data releases in Europe on Thursday.
— Holly Elliot
