Fed’s quarter-point rate hike reaction

Deutsche Bank smashes profit expectations in the fourth quarter

Deutsche Bank reported its 10th straight quarter of profit, receiving a boost from higher interest rates and favorable market conditions.

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

It almost doubled a consensus estimate among analysts polled by Reuters of 910.93 million euros net profit for the fourth quarter, and exceeded a projection of 4.29 billion euros for the year.

Read the full story here.

Deutsche Bank share price

CNBC Pro: JPMorgan says Hong Kong shares to rebound in February and names 5 stocks to own

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

Strategists at the Wall Street bank attributed last week’s sell-off in Hong Kong-listed shares as profit-taking by some investors.

They said the wider stock market will be “grinding higher” this month but rotate into “quality laggards in consumption as well as value cyclical and growth spaces.”

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

— Ganesh Rao

CNBC Pro: Beware of tech stocks — these cash-rich names are a better bet, analysts say

Forget growth stocks like tech. Analysts are recommending that investors go for companies with lots of cash.

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

But analysts say companies with pricing power are a safer bet than tech, given that inflation is expected to remain high this year and the uncertainty surrounding when the US Federal Reserve will pivot to lower interest rates.

They named three stocks to buy.

CNBC Pro subscribers can read more here.

— Weizhen Tan

CNBC Pro: Worried about Alibaba’s share price slump? Analysts have 4 alternative tech picks

Shares in Alibaba have enjoyed a strong rebound this year, although a recent slump in its share price has got some investors worried.

But the Wall Street favorite is far from the only game in town, with several stocks also offering exposure to the Chinese Internet sector.

Pro subscribers can read more here.

— Zavier Ong

European markets: Here are the opening calls

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

The UK’s FTSE 100 index is expected to open 31 points higher at 7,788, Germany’s DAX 101 points higher at 15,273, France’s CAC up 35 points at 7,109 and Italy’s FTSE MIB up 121 points at 26,870, according to data from IG.

On Thursday, investors in Europe will be focused on the latest monetary policy decisions from the European Central Bank and 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 Ellyatt


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