Fed’s quarter-point rate hike reaction

Deutsche Bank smashes fourth-quarter profit expectations

Deutsche Bank reported its 10th consecutive quarter profit, supported by higher interest rates and favorable market conditions.

The German lender reported a net profit of 1.8 billion euros ($1.98 billion) attributable to shareholders for the fourth quarter and increased its annual net income for 2022 to 5 billion euros, a 159% increase from the previous year.

Among analysts polled by Reuters, it nearly doubled its net profit forecast of 910.93 million euros for the fourth quarter and exceeded the projection of 4.29 billion euros for the year.

Read the full story here.

Deutsche Bank share price

CNBC Pro: JPMorgan says Hong Kong stock will recover in February and identifies 5 stocks to own

JPMorgan has identified five stocks to own in February amid the expected rise in the broader Chinese stock market.

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Strategists at the Wall Street bank described the sell-off in shares traded in Hong Kong last week as some investors’ profits.

They said the broader stock market will “rise” this month, but return to “areas of value cyclical and growth, as well as lagging in quality in consumption.”

CNBC Pro subscribers can learn more about the 5 stocks JPMorgan named.

— Ganesh Rao

CNBC Pro: Watch out for tech stocks – analysts say these cash-rich names are a better bet

Forget growth stocks like technology. Analysts advise investors to go to companies with a lot of money.

The market rose in January – including the tech-heavy Nasdaq Composite, which rose nearly 10.7% last month for its best monthly performance since July.

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But analysts say companies with pricing power are a safer bet than tech, given inflation is expected to stay high this year and uncertainty about when the Federal Reserve will start cutting interest rates.

They identified three stocks to buy.

CNBC Pro subscribers can read more here.

— Weizhen Tan

CNBC Pro: Worried about Alibaba’s share price drop? Analysts have a choice of 4 alternative technologies

Alibaba stock has rebounded strongly this year, but the recent drop in share price has some investors worried.

But the Wall Street favorite is far from being the only game in town, with a few stocks also getting exposure to the Chinese Internet industry.

Professional subscribers can read more here.

— Zavier Ong

European markets: Here are the opening talks

European markets are heading for a higher open on Thursday as markets reacted positively to the US Federal Reserve’s quarter-point rate hike.

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of England FTSE 100 The index is expected to open at 7,788, up 31 points. DAX 101 points higher at 15,273, France CAC 7,109 and Italy, up 35 points FTSE MIB It rose 121 points at 26,870, according to IG data.

On Thursday, investors in Europe will focus on the latest monetary policy decisions from the European Central Bank and the Bank of England.

It’s a busy day for earnings, with Shell, BT Group, Deutsche Bank, Banco Santander, ABB, Julius Baer and Roche reporting.

— Holly Elyatt


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