33 minutes ago
European stocks start higher
European stocks rose cautiously on Monday morning, with the benchmark Stoxx 600 index opening in the green and trading 0.32% higher as of 9:07 a.m. in London.
Britain’s FTSE 100 rose 0.46%, while Germany’s DAX and France’s CAC 40 rose 0.24% and 0.34% respectively.
1 hour ago
Struggling Atos admits French government has made offer for cybersecurity business
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Atos stock price.
Atos, a French IT company, is in dire straits. I received an offer Acquires big data and security business activities spanning cybersecurity and advanced computing products from the French government.
French officials said: emphasized the importance The move is aimed at protecting the cash-strapped company, which has high-level, confidential government contracts and is running data and cybersecurity operations for the Summer Olympics.
The proposal values the business at between 700 million euros ($750 million) and 1 billion euros. Athos said the due diligence phase will begin soon and aims to issue a non-binding offer by early June 2024.
Atos said in an update on Monday that its financial restructuring meant it needed €1.1 billion in cash to fund its operations from 2024 to 2025, up from the previously stated €600 million.
— Jenny Reid
2 hours ago
Philips agrees to pay $1.1 billion in lawsuit damages in the US, increasing losses
Philips office building in Warsaw, Poland, July 29, 2021.
Null Photo | Null Photo | Getty Images
998 million in the first quarter as Dutch consumer products giant Philips confirms it has agreed to pay $1.1 billion to settle a U.S. personal injury case related to a recall of sleep apnea treatment devices. reported a loss of 10,000 euros ($1.07 billion).
The company said it had set aside a provision of 982 million euros for the payment, adding that the settlement eliminates the uncertainty surrounding the company’s litigation. The company said it does not admit any negligence, liability or injury caused by the Respironics device.
Still, adjusted profit beat analysts’ consensus estimates, with profit for the quarter at 388 million euros, according to Reuters.
Sales decreased slightly year-on-year from 4.17 billion euros in 2023 to 4.14 billion euros.
— Jenny Reid
3 hours ago
The yen rapidly appreciates, exceeding 160 yen per dollar.
The yen rose sharply in afternoon trading, hours after the Japanese yen broke through the 160 yen level against the US dollar, hitting a 34-year low.
Since achieving this record, the yen has appreciated against the dollar and was trading at 155.43 yen as of 2:12 p.m. local time. Japanese markets are currently closed due to the holiday.
There were no official signs of intervention by Japanese authorities. However, traders and analysts have been keeping an eye on intervention in the yen in recent weeks.
8 hours ago
CNBC Pro: Bitcoin miner and Nvidia AI cloud partner’s stock could rise 50%, Berenberg says
The European company known for its Bitcoin mining business recently pivoted its business model to focus on cloud solutions and data center infrastructure.
The company’s cloud division is certified as an Nvidia “elite” partner, making it one of the largest providers of Nvidia-based cloud services in Europe.
Investment bank Berenberg believes the stock could rise more than 50% as the market largely ignores the potential of the cloud sector.
CNBC Pro subscribers can read more here.
— Ganesh Rao
8 hours ago
CNBC Pro: Buy this ‘very cheap’ top dividend stock with a 4% yield, Morningstar says.
There’s one dividend stock that Morningstar says is currently “highly undervalued” and is bullish over the long term.
It is also listed as one of next year’s top picks.
CNBC Pro subscribers can read more here.
— Tan Weizhen
5 hours ago
European Market: Click here for opening call
European markets are set to open in positive territory on Monday.
According to IG data, the UK’s FTSE 100 index rose 46 points to 8,189, Germany’s DAX rose 57 points to 18,221, France’s CAC rose 34 points to 8,126 and Italy’s FTSE MIB rose 110 points. It is expected to start at 34,117.
Revenue comes from Philips, Vivendi, and BBVA. The data release includes the latest German inflation figures for April.
— Holly Ellyatt
