Burberry shares drop 16% after the luxury giant issues profit warning and replaces CEO
Shares in Burberry plunged Monday after a disappointing first-quarter performance led it to issue a profit warning, replace its CEO and axe its dividend.
Swatch sales, profits slump on weak China demand, hammering shares
Swatch Group reported a steep fall in first half sales and earnings on Monday as the world’s biggest watchmaker struggled with weaker demand in China.
China reports second-quarter GDP growth of 4.7%, missing expectations
The National Bureau of Statistics did not hold a press conference for the data release. China’s high-level policy meeting, the Third Plenum, kicks off Monday.
CNBC Daily Open: Trump assassination attempt
The attempted assassination of former President Donald Trump on Saturday left one attendee and the gunman dead, and two more attendees in critical condition.
Morgan Stanley names its ‘highest conviction’ stock picks for Europe, giving 4 more than 30% upside
Morgan Stanley says it’s time for stock-picking in Europe as earnings season and rate cuts are imminent.
Jefferies names ‘yet-to-be discovered AI play’ in Taiwan, giving it 42% upside potential
The company has “tight partnerships with top chip designers” including as Nvidia, Arm, Qualcomm, Intel, according to Jefferies.
Barcelona residents call for ‘tourism degrowth’ to combat overtourism
Civil groups behind June protests are calling for higher tourism taxes, cruise ship restrictions and tighter control of the short-term rentals that have disrupted Barcelona’s housing market.
Asia markets mostly slip as investors assess China GDP miss and assassination attempt on Trump
China’s economy grew 4.7% in the second quarter, missing expectations of a 5.1% expansion forecast by Reuters and lower than the 5.3% seen in the first quarter.
China’s beer market, the world’s largest, set for bounce as drinkers go high-end
CGS International expects a recovery in beer consumption in the latter part of the year following a likely decline in volumes in the first half compared to 2023.
Dow rises 200 points to close at a record after Trump survives assassination attempt: Live updates
The major benchmarks just came off another solid week as easing inflation data fueled rate-cut bets.
