EU Climate Chief Expects Pension Funds to Help Revamp Grids
As part of a new budget for 2028-2034, the bloc on Wednesday outlined a €410 billion ($475 billion) fund to help EU industries compete with overseas peers. Climate Commissioner Wopke Hoekstra told Bloomberg he's confident that will entice Dutch and Danish pension funds to invest in the region's electrification. He also said the extra funding should help convince skeptical countries to back a proposal to cut emissions by 90% by 2040.
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CNBC
34 minutes ago
- CNBC
Global week ahead: Banking bellwethers and a tariffs waiting game
Next week, the CNBC teams are back on the road – and it's all about the banks and the ECB. From Frankfurt to Milan, and Paris to London, the financials are in focus. The markets seem to be banking on the financial sector to keep up the positive earnings momentum this quarter. Citi described the first quarter as "remarkably resilient," with analysts now expecting Stoxx 600 earnings-per-share growth to turn positive year-on-year this quarter. Much of that optimism is centered on the big banks, while other sectors like luxury, autos and energy have been plagued by earnings downgrades. Unicredit kicks things off on Wednesday. The Italian banking giant will try to keep investors focused on the numbers, rather than its M&A ambitions. While its moves around Commerzbank have seen it increase its equity stake to 20%, Saxo Bank analysts highlight the uncertainty around its potential takeover of Banco BPM, after an Italian court blocked the move until further conditions are met. The stock is up over 50% so far this year, providing some cheer for CEO Andrea Orcel as he battles to keep his expansion plans on track. French financial BNP Paribas — the euro zone's largest lender by assets — reports earnings on Thursday. Last quarter, the bank soared past expectations driven by performance at its investment bank, but revised its profitability target slightly lower. On the same day, attention will turn to Frankfurt for Deutsche Bank's latest set of numbers. The German lender logged its best profit in 14 years last quarter, benefiting from increased trading volumes around the market volatility. CEO Christian Sewing told CNBC in June that he sees an opportunity for Europe to invest more in its own defense sector as a key growth area. For macro-watchers, the highlight of the week in Europe will come from the European Central Bank. President Christine Lagarde and her fellow policymakers are expected to keep rates on hold at 2% on Thursday. But there is a BIG catch… U.S. President Donald Trump's tariff threats are not expected to derail this meeting's outcome, according to Reuters, citing five ECB governing council member sources. But if Trump does push ahead with 30% tariffs on EU imports, there is a broad assumption the ECB will cut rates in response. Investors will have until Sept. 11 to assess the impact, as the ECB breaks for the summer after this week's meeting. In terms of the underlying economic conditions, Deutsche Bank warns that European inflation risks are "still being underestimated, with a remarkable complacency across key assets," with the tariff impact yet to fully trickle through. The bank's macro strategist also told CNBC's Squawk Box Europe that the Aug. 1 tariff deadline for negotiations between the U.S. and EU sets the stage for a late outcome to trigger a "very sharp market reaction."
Yahoo
2 hours ago
- Yahoo
House with underground passage goes up for sale
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Business Insider
3 hours ago
- Business Insider
‘Don't Pull the Trigger Just Yet,' Says Top Investor About Nvidia Stock
Nvidia (NASDAQ:NVDA) stock has been on a wild ride over the past few months – after hitting a 52-week low during the early April Liberation Day slump, it has since bounced back ~83%. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Much of that rebound was driven by renewed investor optimism around AI demand, and the past week brought even more fuel to the fire. The Trump administration assured Nvidia that it would be allowed to export its advanced AI chips to China – a major relief, given that the company had taken a $4.5 billion revenue hit in Fiscal Q1 2026 due to those export restrictions. With this regulatory overhang lifted, some investors might assume Nvidia is back on an unstoppable path. But not everyone is convinced that now is the time to pile in. Top investor Brett Ashcroft Green urges caution, arguing that the recent rally may have already run too far, too fast. 'As enthusiastic as I am, the run has just been too far too fast, and I am downgrading NVDA,' explains Green, who ranks among the top 4% of TipRanks' stock pros. The investor doesn't question Nvidia's fundamental strength. In fact, he believes the long-term growth story remains intact, especially with a potential catalyst on the horizon: sovereign AI. These country-specific systems, tailored to local regulations, have been championed by CEO Jensen Huang for years. The recent U.S. government adoption of AI tools like Elon Musk's Grok may be just the beginning of a broader global push. If sovereign AI gains traction, demand for Nvidia's chips could scale even faster than current forecasts suggest. However, Green tempers expectations by pointing out supply constraints. Nvidia likely won't be able to manufacture chips fast enough to meet soaring global demand, which naturally limits its growth trajectory. What's more concerning to Green, as noted, is how much more expensive the stock has become from a valuation perspective. In April, Nvidia had the third-lowest Forward Price-to-Earnings (P/E) ratio among the Magnificent 7 at 21.31x. It now holds the second-highest at 39.75x. 'If you own it, hold it and enjoy the ride, if not, I'd personally wait for better prices as the market basks in giddiness,' Green concludes, rating NVDA shares a Hold (i.e., Neutral). (To watch Green's track record, click here) Wall Street, meanwhile, maintains a bullish stance. NVDA holds a Strong Buy consensus, backed by 34 Buy ratings versus just 3 Holds and a single Sell. However, the average price target of $182.06 implies only ~6% upside from current levels, suggesting that while sentiment remains positive, much of the expected growth may already be priced in. It will be interesting to see whether analysts revise their targets upward in the coming weeks. (See NVDA stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
