U.S. stocks have set records while many overseas indexes have struggled. Is that about to come to an end? Probably not, given America’s tech-heavy growth.
U.S. stocks have set records while many overseas indexes have struggled. Is that about to come to an end? Probably not, given America’s tech-heavy growth.
A strong recovery by European banks faces a possible setback after BNP Paribas and ING warned on Thursday of a more challenging outlook and investors reappraised which lenders are most vulnerable as a boost from higher interest rates recedes. Shares in BNPP, which missed forecasts and pushed back a key profitability target, slid 8% in their biggest one-day drop since March, while Dutch bank ING's stock fell sharply as it forecast lower income for 2024. "The (euro zone) economy is in the process of slowing down," BNPP CEO Jean-Laurent Bonnafe said after reporting revenue falls across the bank, including in investment banking.
(Bloomberg) Runaway demand for Novo Nordisk A/S’s diabetes and weight-loss drugs has propelled the Danish drugmaker into a class all its own atop Europe’s pharmaceutical sector — and the Stoxx Europe 600 Index — so achieving its 2023 targets should be a shoo-in when it reports next week.Most Read from BloombergPutin Sends US Signal on Ukraine Talks, Seeing War AdvantageUS Extends Lead Over China in Race for World’s Biggest EconomyTesla Sinks After Warning About ‘Notably Lower’ Growth RateJPMo