Eurozone gross domestic product. Fed meeting in focus

UniCredit raised its payment target by 40% after achieving record profits

UniCredit On Tuesday, he pledged to return 5.25 billion euros ($5.69 billion) to investors after they posted their best profits in more than a decade.

the bank He said Net profit came in at 2.46 billion euros in the three months through December, more than double the average forecast of 1.10 billion euros ($1.2 billion) from analysts polled by the bank.

UniCredit said it expects net profit in 2023 broadly in line with 2022 including its Russia business, having excluded this from its profit target last year in the wake of Russia’s invasion of Ukraine.

It failed to extricate itself from Russia, where it has the 15 largest lenders.

UniCredit share price for a year.

Swiss bank UBS got a boost from higher interest rates, beating expectations in the fourth quarter

UBS reported fourth quarter and full year earnings.

Fabrice Coverini | Afp | Getty Images

UBS Its recent results beat market expectations on the back of lower expenses and higher interest rates.

The bank reported net income of $1.7 billion for the fourth quarter of last year, bringing its total annual profit to $7.6 billion in 2022.

UBS also said it will buy more shares in 2023.

Read the full story here.

Silvia Amaro

European Markets: Here are the opening calls

European markets are heading for a lower open on Tuesday as investors focus on the upcoming meeting of the US Federal Reserve, which begins today. The two-day meeting will conclude on Wednesday with the announcement of the central bank’s latest interest rate decision.

United kingdom FTSE 100 index The index is expected to open 26 points lower at 7758, the German Dax 79 points lower at 15052, France kk 40 points fell at 7049 and Italy FTSE MIB It fell 125 points at 26,260, according to IG data.

Earnings come from Pets at Home, UBS and Spotify, and the data releases include Eurozone GDP data for the fourth quarter. German and French preliminary inflation data for January are also due.

– Holly Ellytt

CNBC Pro: What one tech fund manager expects from Apple and Alphabet earnings this week

Microsoft It issued a disappointing revenue forecast last week, but its inventory has increased since then. What does that mean for other big tech companies that are set to report their earnings?

Technology fund manager Jeremy Gleeson, who manages the 1.1 billion pound ($1.5 billion) AXA Framlington Global Technology Fund, said there was enough bad news in the pipeline. Microsoft earnings To “create panic” among investors and push them to sell shares.

However, the fact that the stock is up more than 2% later is an “encouraging” sign for the rest of the big tech earnings, Gleeson told CNBC’s “Squawk Box Europe.”

He shared his thoughts on what to expect from Apple and Alphabet this week.

CNBC Pro subscribers can read more here.

– Ganesh Rao

CNBC Pro: Tesla shares are up 30% last week. This is where you see Wall Street going next

Just last week, the electric car maker’s stock jumped more than 30%. after announcing its earnings. This year so far, Tesla shares are up about 44%.

It comes on the heels of a bleak 2022 when Tesla shares fell more than 35% in December and nearly 65% ​​for the year.

After all the volatility, here’s where the Wall Street analysts see the stock heading next:

CNBC Pro subscribers can read more here.

– Wizen tan

CNBC Pro: Can Chinese Stocks Rise Further? An investment bank thinks so – and names its top stock picks

The recovery in Chinese stocks gained steam on Monday, as the benchmark China index came within striking distance of a bull market.

Bernstein analysts believe the rally should go further and reveal their major stocks to play with.

Professional subscribers can Read more here.

– Xavier Ong

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