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Microsoft buys nearly 4% of the capital of the London Stock Exchange and launches a 10-year partnership

American technology giant Microsoft announced on Monday a 10-year partnership with the London Stock Exchange Group and took a nearly 4% stake in the British stock market operator.

The partnership involves next-generation data and analytics, as well as cloud infrastructure solutions, according to a statement from LSEG. This involves a new data infrastructure for the London Stock Exchange and analytics and modeling solutions with Microsoft Azure, AI and Microsoft Teams.

Read the full story here.

-Matt Clinch

Moving Stocks: Chr. Hansen up 22%, Novozymes down 13% after merger announcement

Bioscience companies Novozymes and Chr. Hansen to merge in biggest Danish deal ever

A researcher tests enzymes at a Novozymes facility in Bagsvard, Denmark.

Bloomberg | Bloomberg | Getty Images

Biotechnology companies Novozymes and Chr. Hansen has agreed to combine in what will be the largest ever merger between two Danish companies.

The merger, announced in a joint statement on Monday, will see the dissolution of Chr. Hansen and is expected to be completed in the fourth quarter of 2023.

The new biosolutions group will achieve annual sales of around 3.5 billion euros ($3.7 billion), the companies said.

Read the full story here.

-Elliot Smith

UK economy grows 0.5% in October

Britain’s economy grew 0.5% month-on-month in October, slightly ahead of a Reuters poll predicting a 0.4% rebound from September’s 0.6% contraction.

Figures for the previous month were affected by a one-time public holiday to mark the funeral of Queen Elizabeth II.

The bank of england predicts that the economy is already in a recession that could last through 2023.

Jeremy Batstone-Carr, European strategist at Raymond James, said Monday’s figures from the Office for National Statistics “are flattering to mislead, hiding an otherwise shrinking economy”.

“Government spending, residential investment and a boost from net trade coated GDP with sugar in the third quarter, but that coating is now dissolving as the housing market and global economy weaken,” he said. Batstone-Carr.

“The economy is no longer on the brink of recession; it is fully integrated. We are now feeling the pain of relentless inflation and rising interest rates, crippling both business and consumer spending. The Bank of England’s Monetary Policy Committee is split on the size of the base rate hike, but it looks increasingly likely that we’ll be living with another 0.5% hike by then. end of this week.”

CNBC Pro: Shares of this under-the-radar global miner set to rise 50%, analyst says

Shares of a little-known London-listed miner are set to rise 50%, according to Ben Davis, mining analyst at Liberum Capital.

The company, which mines metals such as platinum, palladium and chromium, also offers an 8% dividend yield.

CNBC Pro subscribers can learn more here.

—Ganesh Rao

CNBC Pro: Dan Niles is betting the S&P 500 will hit a new low in 2023. Here’s how he trades it

Dan Niles’ Satori fund beats the market this year. He shares what’s behind the outperformance and how he trades the market as the recession looms.

Pro subscribers can learn more here.

— Zavier Ong

European markets: here are the opening calls

European markets are heading for a lower open on Monday as investors anticipate the next meeting of the US Federal Reserve.

Britain’s FTSE index is expected to open down 17 points to 7,457, Germany’s DAX down 71 points to 14,290, France’s CAC down 31 points to 6,640 and Italy’s FTSE MIB down 134 points to 24,120, according to IG data.

There are no significant gains. The data releases include preliminary UK gross domestic product figures for the third quarter.

—Holly Ellyatt

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