Glencore shares down 6% as earnings fall
An worker stands by a brand for Glencore Agriculture in Glencore Plc’s places of work in Rotterdam, Netherlands.
Bloomberg | Bloomberg | Getty Photographs
Shares of Swiss mining firm Glencore fell greater than 6% in morning commerce after the corporate posted a steep drop in annual earnings and lowered its dividend.
Waning volatility within the vitality market weighed on the corporate’s full-year earnings, which got here in at $17.1 billion — half that recorded within the earlier yr, through the peak of the vitality disaster sparked by the Russia-Ukraine conflict.
— Karen Gilchrist
HSBC pre-tax annual revenue jumps 78%, misses market estimates
HSBC reported on Wednesday its full yr 2023 pre-tax revenue climbed about 78% to $30.3 billion from a yr in the past, lacking median estimates of $34.06 billion from analysts tracked by LSEG.
Its Hong Kong shares reversed positive aspects to dip greater than 2%, in contrast in opposition to the three% positive aspects for the Grasp Seng Index. The financial institution’s shares have gained about 0.5% to date this yr after leaping 23% in 2023 because the Grasp Seng Index shed 14%.
It was final buying and selling down 2.55%.
—Clement Tan, Lee Ying Shan
CNBC Professional: ‘Opportune time to spend money on actual property’: Execs identify 5 REITs to play proper now
Mounting inflation and rates of interest have put important strain on a number of sectors — particularly actual property. However some market watchers suppose issues could possibly be about to show round.
“I believe it could be an opportune time to spend money on actual property particularly on condition that we’re forecasting rates of interest to say no over the following 12 months,” says Kevin Brown, senior equities analyst at monetary providers agency Morningstar.
Brown, together with PGIM Actual Property’s Rick Romano, reveal their high REITs to purchase proper now.
CNBC Professional subscribers can learn extra right here.
— Amala Balakrishner
CNBC Professional: Need regular, passive revenue? Purchase these dividend shares with increased yields, Wall Avenue says
Dividend shares typically attraction to buyers who need regular revenue and long-term progress.
Wall Avenue and different execs share their tips about the right way to choose good dividend shares and what names will generate sustainable revenue.
A few of these names are projected to have increased yields than money, in keeping with BofA.
CNBC Professional subscribers can learn extra right here.
— Weizhen Tan
European markets: Listed below are the opening calls
European markets are set to open in blended territory Wednesday.
The U.Okay.’s FTSE 100 index is anticipated to open unchanged at 7,718, Germany’s DAX down 12 factors at 17,061, France’s CAC down 3 factors at 7,796 and Italy’s FTSE MIB down 18 factors at 31,786, in keeping with information from IG.
Earnings are due from Danone, Wolters Kluwer, Heathrow, BAE Programs, Rio Tinto and Glencore. On the info entrance, preliminary shopper confidence information for the euro zone in February is ready to be launched.
— Holly Ellyatt
