European markets set for lackluster open as traders continue to focus on earnings

European markets set for lackluster open as traders continue to focus on earnings


Novartis sales rise 10% in third quarter, raises guidance

Signage for Novartis AG at a building in the company’s headquarters campus in Basel, Switzerland, on Monday, Jan. 8, 2023. 

Bloomberg | Bloomberg | Getty Images

Novartis reported 10% sales growth and 20% core operating income growth in its third-quarter results Tuesday, prompting the Swiss pharmaceutical company to raise its full-year guidance.

Net sales came in at $12.8 billion and core operating income was $5.15 billion in the three months to October. The company said it now sees net sales growing in the low-double digits for the full year.

The company pointed to “important innovation milestones,” including in the firm’s early breast cancer and nephropathy treatments, as having helped drive the revised outlook.

— Karen Gilchrist

CNBC Pro: Alibaba and more: Fund manager gets bullish on 3 China tech stocks — expecting one to double

Shares of e-commerce giants in China look attractive as Beijing attempts to stimulate domestic consumption, according to investor Jason Hsu.

Hsu, founder and chairman of Rayliant Global Advisors, revealed three of his top picks and one he is more cautious about due to company-specific factors.

Hsu said if signs of consumption growth return to China, one of the stocks could double from current levels.

CNBC Pro subscribers can read more here.

— Ganesh Rao

HSBC beats third-quarter earnings expectations, announces additional $3 billion share buyback

Europe’s largest lender HSBC on Tuesday reported third-quarter earnings that beat analysts’ expectations, boosted by strong revenue growth, as it embarks on a major restructuring to balance its operations in China and the West.

HSBC’s pre-tax profit rose 10% compared with the $7.7 billion posted a year ago. The company’s quarterly revenue grew 5% to $17 billion from the $16.2 billion that was reported a year ago, while after-tax profit gained $500 million from last year to $6.7 billion.

Shares of HSBC traded 2.24% higher.

—Anniek Bao, Lee Ying Shan

CNBC Pro: Investing in Japan after the elections? The pros share their take

Japan’s stock market rallied on Monday as the Yen plummeted to a three-month low following news that Prime Minister Shigeru Ishiba’s ruling coalition had lost a majority in the nation’s parliamentary election.

Such a phenomenon raises uncertainties as “we may not know how this new government is going to look like, who the potential coalition partners (are and what the) coalition agreements are going to be,” Izumi Devalier, chief Japan economist at Bank of America..

The pros lay out areas of concern – and opportunities they see – in Japan going forward.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

European markets: Here are the opening calls

European markets are expected to open in flat to lower territory Tuesday.

The U.K.’s FTSE 100 index is expected to open 10 points lower at 8,283, Germany’s DAX down 25 points at 19,501, France’s CAC up 1 point at 7,564 and Italy’s FTSE MIB up 1 point at 34,819, according to data from IG.

Earnings are set to come from Adidas, Lufthansa, Novartis, Santander and BP, among others. Data releases of note include Germany’s GfK consumer confidence figures.

— Holly Ellyatt



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Singapore Airlines earnings sink 82% in second quarter, well below forecasts on Air India drag
World

Singapore Airlines earnings sink 82% in second quarter, well below forecasts on Air India drag

An Airbus A350-941 from Singapore Airlines is preparing to take off on the runway at Barcelona-El Prat Airport in Barcelona, Spain, on May 1, 2024. Nurphoto | Nurphoto | Getty Images Singapore Airlines on Thursday reported an 82% plunge in second-quarter earnings, missing estimates as losses from its Air India stake and lower interest income weighed on results. […]

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Chinese tech giant Tencent’s quarterly revenue rises 15%, fueled by AI
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Chinese tech giant Tencent’s quarterly revenue rises 15%, fueled by AI

Tencent on Thursday posted 15% year-on-year revenue growth, with AI boosting the Chinese tech giant’s performance in advertising targeting and gaming. Here’s how Tencent performed in the third quarter of 2025, per earnings released on Thursday:  Revenue: 192.9 billion Chinese yuan ($27.12 billion), surpassing the 189.2 billion Chinese yuan expected analysts, according to data compiled by […]

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CNBC’s Inside India newsletter: India’s millennial and Gen Z heirs are redefining family wealth. Startups are their bets
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CNBC’s Inside India newsletter: India’s millennial and Gen Z heirs are redefining family wealth. Startups are their bets

This report is from this week’s CNBC’s “Inside India” newsletter, which brings you timely, insightful news and market commentary on the emerging powerhouse. Subscribe here. The big story Rajat Mehta, scion of Mumbai-based Mehta Group, walked out of the listing ceremony of Billionbrains Garage Ventures or Groww, on Wednesday, feeling vindicated. The company he backed in 2016 […]

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