geopolitical tensions rise after Poland missile hit

Stocks in motion: Billerud down 6%, Saab up 5%

Shares in Swedish pulp and paper manufacturer Billerud fell more than 6% in early trading at the bottom of the Stoxx 600 after Jefferies cut its rating of the stock to “outperform” from “hold.”

At the top of the index, compatriot aerospace and defense company Saab rose 5%.

UK inflation hits 41-year low of 11.1% as food and energy prices continue to rise.

UK inflation rose to a 41-year high of 11.1% in October, beating expectations as food, transport and energy prices continued to weigh on households and businesses.

“Estimated consumer price inflation indicator models suggest that the CPI rate would have last been higher in October 1981, when the estimate for the annual inflation rate was 11.2%,” the Office for National Statistics said.

On a monthly basis, the CPI increased 2% in October, matching the annual CPI inflation rate between July 2020 and 2021.

Read the full story here.

– Elliot Smith

Biden says he is “disgusted” that the missile that killed two people in Poland was fired from Russia.

The US President, Joe Biden, said that it is not possible that a missile that killed 2 people in Poland was fired from Russia, citing the trajectory of the missile.

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Asked by a reporter if the missile was fired from Russia, Biden said: “There is preliminary information that disputes that, I don’t want to say that until we fully investigate.”

He went on to say: “It’s not easy… in the spirit of the trajectory, that he fired from Russia. But we’ll see.”

Biden reiterated that Group of 7 leaders agreed to support an ongoing investigation into the explosion.

“We agreed to support Poland’s investigation into the explosion in rural Poland near the Ukrainian border. And I will make sure that we know exactly what happened,” he told reporters on the sidelines of the G-20 summit in Bali, Indonesia. .

– Jihye Lee

World Bank says Russia is ‘destroying their own future’ through Ukraine war

World Bank President David Malpass said Russia is harming its own future by continuing a war on Ukraine.

“It’s weakening Russia, it’s deporting them and it’s really destroying their own future,” he said. “I am hurt by what Russia is doing to itself, and to its own people.”

Asked about the recent development of a Russian missile that killed Polish citizens, Malpass said: “I don’t want to speculate about the missiles, but as far as the G-20 is concerned.” [goes]there was unity, great unity in the G-20 countries against war.”

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– Jihye Lee

CNBC Pro: Analysts think these EV-related stocks in the lithium supply chain could be winners

Goldman Sachs says the peak in battery metal prices is approaching.

Given this outlook, CNBC Pro conducted the screening Global X Lithium & Battery Tech ETF for shares related to electric car makers that could offer opportunities for investors.

These stocks are expected to post full-year growth in 2023, are buys by the majority of analysts covering them, and have an average upside potential of at least 20% over the next 12 months.

But .

— Zavier Ong

CNBC Pro: These biotech stocks look cheap — with analysts giving 2+ 100% upside

Fundstrat said that some biotech stocks are worth following and that the sub-sector is currently the strongest in the health industry.

Mark Newton, head of technical strategy at research firm Fundstrat, said the sector is “a key part of the reason why healthcare is likely to show a strong 4Q.” [fourth quarter] performance,” according to a Nov. 14 note.

To identify biotech stocks that look cheap and are expected to rally looking ahead, CNBC Pro analyzes the iShares Biotechnology ETF on FactSet. Hand 8:

CNBC Pro subscribers can read more here.

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– Weizhen Tan

CNBC Pro: The Fed’s “pivot” is dead, say strategists, who share where to invest now

Fidelity says the notion that a pivot from the Federal Reserve’s hawkish stance will benefit stocks is “dead.”

Salman Ahmed, global head of macro and strategic asset allocation at the investment management firm, said he is concerned about short-term stock performance and suggests investors consider a different asset class instead.

– Ganesh Rao

European markets: Here are the opening calls

European markets opened lower on Wednesday as political instability gripped the region after a missile hit Polish territory on Wednesday, raising tensions between Russia and NATO.

The UK’s FTSE index is expected to open 31 points lower at 7,328, Germany’s DAX down 121 points at 14,237, France’s CAC down 48 points at 6,580 and Italy’s FTSE MIB down 205 points at 24,405, according to data from IG.

Global markets will be watching developments in Ukraine after a major missile strike across the country on Wednesday, with the missile’s repercussion hitting Polish territory, although Moscow denies responsibility for the strike.

Earnings are due to be released from Alstom, Siemens Energy, Premier Foods, SSE, Experian and Man Utd and data releases include the latest UK inflation numbers for October.

— Holly Elliott


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