The decline in private equity transactions will continue until 2023, the fund manager says
According to a reliable fund manager at Abrdn, the decline in private equity transactions will continue in the first quarter of 2023.
Alan Gold, private equity opportunities trust fund manager at Abrdn, discussed the firm’s outlook for private equity to 2023 on Squawk Box Europe.
Airbus fell almost 3% after lowering its delivery target
Airbus shares fell 2.6% after the company scrapped its 2022 forecast for aircraft deliveries and adjusted production growth plans.
The plane maker said it did not expect a 2022 delivery target of “about 700” to be out of reach but “materially short” of the forecast.
Airbus blamed supply chain disruptions for the delivery shortfall.
– Hannah Ward-Glenton
Stocks on the Move: Health Care Gains in a Bad Market
Healthcare stocks continued to reverse the downside trend in afternoon trade, adding 0.5% with all other sectors in the red or flat.
The Stoxx 600 index was led by pharmaceutical manufacturers GSK (+7.7%), Indivior (+5.8%), Sanofi (+5.7%) and Haleon (+3.9%), after a US judge dismissed thousands of lawsuits alleging the heartburn drug Zantac caused cancer.
The potential billion-dollar payout wiped nearly $40 billion off the market value of GSK, Sanofi, Pfizer and Haleon in about a week in August, Reuters reported.
– Jenny Reid
A deep, global recession is a possible scenario for 2023: Analyst
Finimize analyst Stephane Renevier speaks on CNBC’s Squawk Box Europe.
Eurozone economic growth was revised for the third quarter
Eurozone GDP rose 0.3% in the third quarter at an annualized rate of 2.3%, Eurostat said on Tuesday, an upward revision from previous forecasts of 0.2% and 2.1% published in mid-November.
Household spending and gross fixed capital formation were the biggest contributors to growth, while geographically the strongest performer was Ireland, with growth of 2.3%.
– Elliot Smith
Stocks on the move: GSK up 11%, SBB down 5%
stocks GSK and Sanofi They rose 11% and 6%, respectively, on Wednesday morning after a US court dismissed thousands of lawsuits alleging the heartburn drug Zantac caused cancer.
A Swedish real estate company at the bottom of the Stoxx 600 SBB 5% decreased.
– Elliot Smith
A Singaporean official says China’s reopening is a bigger boost to oil prices than Russia’s crude cap
Singapore’s Foreign Minister Vivian Balakrishnan told CNBC on Tuesday that China’s reopening would be a bigger boost to oil prices than Russia’s cap.
“I expected to see a significant opening,” Balakrishnan said. “Now this has profound implications for the global economy, not just because of the cap on oil prices.”
Balakrishnan said China’s medium- and long-term playbook should therefore focus on improving vaccination rates.
“If you have high vaccination rates, you can open up. So I will be watching what efforts China is making to increase vaccination in the elderly,” he said.
Read the full story here.
– Charmaine Jacob
CNBC Pro: UBS says shares of this global airline will rise 55%
According to UBS, shares of a global airline will increase by 55% over the next year.
The investment bank raised its price target after the pan-European airline said it would see strong demand over Christmas.
CNBC Pro subscribers can read more here.
– Ganesh Rao
CNBC Pro: ‘Gift to Investors’: BlackRock Says It’s Time to Rethink Bonds
Now is the time to rethink bonds, according to BlackRock Investment Institute, which says “the allure of fixed income is strong.”
“Higher yields are a boon for investors who have long been starved for income. And investors don’t have to go too far across the risk spectrum to get it,” Philipp Hildebrand, vice chairman of BlackRock and head of BlackRock’s Jean Boivin Investment Institute, said last week. he wrote in a note.
They mentioned the best ways to earn money.
Pro subscribers can read more here.
– Xavier Ong
Inflation erodes consumer wealth and could lead to recession in 2023, Dimon says
Dimon said in June that he was preparing the bank for the economic “hurricane” caused by the Federal Reserve and Russia’s war in Ukraine.
Al Drago | Bloomberg | Getty Images
American consumers are still doing well and supporting the US economy, but that could change next year JPMorgan Chase CEO Jamie Dimon.
CNBC’s “Squawk Box” reported Tuesday that consumers have $1.5 trillion more in savings from pandemic stimulus programs and are spending 10% more than in 2021.
“Inflation is destroying everything I just said, and that trillion and a half dollars will be gone by the middle of next year,” Dimon said. “When you look ahead, these things could very well disrupt the economy and lead to a mild or severe recession that people are worried about.”
Dimon also spoke about cryptocurrencies, the need for fossil fuels and other topics during the wide-ranging interview.
– Hugh Son
European markets: Here are the opening calls
European markets are headed for a lower open on Tuesday, with global sentiment generally subdued this week.
According to the IG, the UK’s FTSE index is expected to decrease by 7 points to 7,549, Germany’s DAX index to decrease by 24 points to 14,423, France’s CAC index to decrease by 18 points to 6,678, and Italy’s FTSE MIB to decrease by 47 points to 24,574.
Data releases include German industrial orders for October. No big gain.
– Holly Elliott