Stocks, news, earnings and data

Shares of hydrocarbon exploration company Energean led European stocks in morning trade, rising 8.5%.

The company’s share price had fallen after the full year was published results Last Thursday, which showed that it swung from a loss of $96.2 million to a profit of $17.3 million and laid out a plan for growth.

Embracer Group, the Swedish media holding company, fell 13.6%.

In a statement Monday afternoon, the company He said Some of the partnership and licensing agreements that have been in the works will be completed a little later than planned.

Embracer also appeared in a financial times The report cited investor concerns about the company’s light approach to consolidating new business and the gap between its actual and adjusted earnings.

European stocks were higher early on Monday, with the Stoxx 600 index up 0.5% at 8:20 am London time.

Oil and gas stocks rose 1.44%, mining stocks rose 1.36% and banks continued to regain some positive momentum, up 1.2%.

Bank of England Governor Andrew Bailey said in a speech Monday night that he has confidence in Britain’s banking system and regulatory framework, which allows the central bank to remain focused on reducing inflation.

He described UK banks as “resilient, with strong capital and liquidity positions, and well placed to support the economy.” Sky News reported.

“We have a strong macroprudential policy regime in this country. With the Monetary Policy Committee on the issue of securing financial stability, the Monetary Policy Committee can focus on its important job of getting inflation back on target,” Bailey said.

The Bank of England raised its main interest rate by 25 basis points to 4.25% last week, after inflation came in higher than expected at 10.4% in February.

– Jenny Reed

Policymakers were right to shoot first and ask questions later amid recent banking volatility, Thanos Papasavas, founder and CEO at ABP Invest, told CNBC.

Bitcoin and ether prices are down nearly 3% in Asian morning trade, according to currency metrics After US officials filed a complaint against cryptocurrency exchange Binance and its co-founder Changpeng Zhao.

The order alleged that the company actively responded to US users and sabotaged the exchanges’ “ineffective compliance program.”

Bitcoin is down 3.09% in the last 24 hours, according to Coin Metrics, and is trading at $27,003 — while ether is also down 2.95% to $1,712.

Bitcoin is up nearly 63% qoq and is on pace to mark its best quarter since Q1 2021, when bitcoin was up 103.73%. It is also on track for a third straight month of gains.

Ether is also up 41.3% on a quarterly basis and is on pace to post its best quarter since Q1 2021, when the cryptocurrency gained more than 150%.

– Rohan Goswami, Gina Francola, Jihye Lee

The market sell-off earlier this month hurt small-cap stocks more than their larger peers.

However, Josh Bennett, senior portfolio manager in Algeria, believes that volatility has created opportunities for investors to pick stocks that will outperform in the medium to long term.

Bennett identified three stocks that he says have the potential to generate resilient profits through a potential recession.

CNBC Pro subscribers can read more here.

– Ganesh Rao

Despite market volatility, Morgan Stanley upgraded a handful of stocks in March, including US and global stocks.

The bullish calls extended to technology, pharmaceuticals and more, with the bank giving one stock a double upgrade. Here are five of the stocks promoted by the investment bank:

CNBC Pro subscribers can read more here.

– Wizen tan

European markets are heading for a positive open on Tuesday.

The UK’s FTSE 100 is expected to open 18 points higher at 7,498, Germany’s DAX is 41 points higher at 15,177, France’s CAC is up 24 points at 7,104, and Italy’s FTSE MIB is up 85 points at 25,822, according to data from IG. .

On Tuesday, earnings are due to come from the Man Group and data releases will include French business climate data and Italian consumer confidence numbers.

– Holly Elliott