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36 minutes ago

European shares open higher

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

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

See diagram…

Stoxx 600 index.

An hour ago

Bailey: UK banks ‘resilient’, inflation remains key focus

Bank of England Governor Andrew Bailey said in a speech on Monday evening that he had confidence in the UK banking system and regulations, which allow the central bank to remain focused on bringing down inflation.

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

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

The BoE raised its key interest rate by 25 basis points to 4.25% last week, after inflation ran hotter than expected at 10.4% in February.

– Jenny Reid

2 hours ago

We are not heading for a global financial crisis: CEO

The politicians were right to shoot first and ask questions later amid the recent banking volatility, Thanos Papasavvas, founder and CEO of ABP Invest, told CNBC.

5 hours ago

Bitcoin, ether fall after Binance’s founder named in US complaint

Bitcoin and ether prices fell about 3% in Asia’s morning trade, according to Coin Metrics — after US officials filed a complaint against crypto exchange Binance and its co-founder Changpeng Zhao.

The filing alleged that the firm actively solicited US users and undermined the exchange’s own “ineffective compliance program.”

Bitcoin fell 3.09% in the past 24 hours, according to Coin Metrics, trading at $27,003 – while ether also fell 2.95% to $1,712.

Bitcoin is up roughly 63% quarter-to-date and on pace to mark its best quarter since the first quarter of 2021, when bitcoin rose 103.73%. It is also on course to see its third consecutive month of gains.

Ether is also up 41.3% year-to-date and on pace for its best quarter since Q1 2021, when the cryptocurrency gained over 150%.

– Rohan Goswami, Gina Francolla, Jihye Lee

7 hours ago

CNBC Pro: As small caps hit multi-decade lows, one fund manager reveals 3 stocks to buy

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

Still, Josh Bennett, senior portfolio manager at Algiers, believes the volatility has created opportunities for investors to pick stocks that will outperform over the medium to long term.

Bennett mentioned three stocks that he says are likely to have robust earnings through a potential recession.

CNBC Pro subscribers can read more here.

– Ganesh Rao

6 hours ago

Asia-Pacific, banks rise as SVB deal gives relief to Wall Street

7 hours ago

CNBC Pro: Morgan Stanley has upgraded a number of stocks to overweight – here are 5

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

The bullish calls span technology, pharmaceuticals and more, and the bank gave one stock a double upgrade. Here are five of the shares upgraded by the investment bank:

CNBC Pro subscribers can read more here.

— Weizhen Tan

4 hours ago

European markets: Here are the opening calls

European markets are moving towards a positive opening on Tuesday.

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

On Tuesday, MAN Group earnings will be released and data releases will include French business climate data and Italian consumer confidence figures.

—Holly Ellyatt

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