stocks, news, data and earnings, Turkey

17 minutes ago

Turkey’s BIST-100 index down as much as 6% on presidential election results

Turkey’s BIST-100 index saw a decline of as much as 6% as markets opened, with investors reacting to the uncertainty caused by the country’s inconclusive presidential election results.

Turkey now faces an unprecedented runoff after neither 20-year incumbent Recep Tayyip Erdogan nor his rival, Kemal Kilicdaroglu, secured more than 50% of the vote.

—Hannah Ward-Glenton

32 minutes ago

Platinum shortages in 2023 will be worse than expected, says the World Platinum Investment Council

The world’s platinum shortage will be worse than expected in 2023, according to the latest report from the World Platinum Investment Council.

The platinum deficit for 2023 will be around 983,000 ounces (983 koz), the WPIC report said, which is a 77% upward revision from its last forecast in March.

See diagram…

Platinum Price Chart.

Global demand for platinum will see a 28% increase this year from last, while supply will decrease 1% year-on-year.

—Hannah Ward-Glenton

6 hours ago

CNBC Pro: UBS is betting on European banks over automakers right now. Here’s why

European bank stocks are poised to outperform carmakers for the foreseeable future, according to UBS.

The investment bank highlighted three structural changes that could lead to significant gains for banking stocks relative to auto counterparts, despite similarities in their economic cycles.

CNBC Pro subscribers can read more about these three reasons here.

– Ganesh Rao

6 hours ago

CNBC Pro: Bank of America loves these 10 unloved global stocks with big upside

Bank of America strategists have named the ten European stocks that they believe are currently undervalued and could provide significant investment returns.

These selections, which the investment bank refers to as the “Beat Factor Top 10,” consist mainly of industrial and financial companies.

One of the stocks offers more than 60% upside over the next 12 months, according to the investment bank.

CNBC Pro subscribers can read more here.

– Ganesh Rao

4 hours ago

European markets: Here are the opening calls

European markets are set to start the new trading week in mixed territory.

Britain’s FTSE 100 index is expected to open 1 point higher at 7,751, Germany’s DAX 10 points lower at 15,895, France’s CAC up 3 points at 7,401 and Italy’s FTSE MIB 7 points higher at 27,085, according to data from IG.

The income will come from Porsche.

—Holly Ellyatt

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