German economy records unexpected growth in the third quarter
The German economy grew in the third quarter contrary to expectations.
Gross domestic product rose 0.3% from the previous quarter, despite the country’s handling of rising inflation and energy concerns.
A Reuters poll had forecast a 0.2 percent contraction.
– Hannah Ward Glinton
NatWest down 7% after reporting flat third-quarter results
natwest It fell 7% after reporting flat results for the third quarter.
The Bank of England reported a profit of 1.1 billion pounds ($1.3 billion), which was less than analysts’ expectations.
Natwest has set aside an additional £247 million to reflect the difficult economic outlook in the UK, which has consumed profits.
– Hannah Ward Glinton
Bank of America CEO says we’re seeing ‘relieving growth’, not slowing
We’re seeing “growth easing” rather than slowing, said Brian Moynihan, CEO of Bank of America, in an exclusive interview withSquawk Box Europe. “
Coming soon: Bank of America CEO Brian Moynihan live on ‘Squawk Box Europe’
American bank CEO Brian Moynihan will be giving an exclusive live interview to CNBC’s ‘Squawk Box Europe’ at 8.00am London time.
The bank released its third-quarter earnings in October. He stressed that the resilience of the US consumer was a reason to reduce fears of an economic recession.
You can watch the interview Live on CNBC here.
– Hannah Ward Glinton
European markets: here are the opening calls
The FTSE 100 is expected to fall 32 points to 7039 and the German DAX 67 points at 13,155, according to data from IG. The CAC will drop 25 points to open at 6,226 and the Italian MIB will drop 89 points at 22,347 points.
CNBC Pro: Tech stocks are falling but one fund manager still loves Microsoft. Here’s why
Technology stocks fell this week, as investor optimism faded after disappointing results from some of the biggest names in the sector.
But fund manager Brian Arkis stands ready MicrosoftHe described it as “strong, long-term defensive control.”
Professional subscribers can Read more here.
– Xavier Ong
CNBC Pro: There is a lot of suffering for the markets, warns the strategist
Investors should think twice before chasing the recent bounce in stocks, according to one strategist.
“I think the market rally is a breathing rebound,” Pete Whitman, chairman of Swiss company Porta Advisors, told CNBC.
CNBC Pro subscribers can read more here.
– Jenny Reed
Chip stocks drop after a US official says allies may impose restrictions on Chinese exports soon
Bank of Japan keeps interest rates as expected
The Bank of Japan left interest rates without change Friday, in line with forecasts by economists in a Reuters poll.
The Bank of Japan also said it would buy the necessary quantities of JGBs at a fixed rate in order to keep the 10-year JGB yields at 0%.
“The bank will support financing, especially for businesses, maintain stability in financial markets, and will not hesitate to take additional easing measures if necessary,” the bank said in its monetary policy statement.
– Jie Lee
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