European markets close higher as positive momentum returns as Delivery Hero lowers 15%;

The index topped the pan-European STOXX 600 index in Wrtsila afternoon trading.

Ship and energy equipment maker Moe reported on Friday that the first quarter of the year “went well” with the Finland-based company’s order book climbing to a record high. After the news broke, Wärtsilä’s share price rose more than 12%.

Meanwhile, the German food delivery giant Delivery hero fell below the benchmark index.

Chinese food delivery giant Meituan-Dianping has dropped by more than 18% that it is hiring in Saudi Arabia, a prospect that could put it in competition with delivery hero’s business in the country.

— Sam Meredith

Share thyssenkrupp The company’s shares rose more than 9% on Friday, boosted by news that the German group will sell a 20% stake in its steel business to an energy company controlled by Czech billionaire Daniel Kretinsky.

The transaction is expected to be completed in the current financial year, subject to approval by the relevant authorities and ThyssenKrupp’s board of directors. The parties did not disclose the value of the deal.

thyssenkrupp explained on Friday that the two parties were in talks for Kretinsky’s EP Corporate Group to buy another 30% stake to form a 50:50 joint venture.

— Sam Meredith

Personal Consumer Price Index Rise Beats Expectations The US Commerce Department released March figures on Friday.

A measure of inflation excluding food and fuel rose 2.8% from the same period last year. That was higher than the Dow Jones forecast of 2.7%.

Including food and energy, the price index rose 2.7%, above expectations of 2.6%. Both indexes rose 0.3% monthly, in line with expectations.

— Samantha Subin

SNB Chairman Thomas Jordan said on Friday that climate protection is the domain of politicians, not central bankers, and should avoid any notion that central bank policies can solve all global problems.

“It’s also important … that we’re serious and don’t think we can solve all the world’s problems through monetary policy,” Jordan said at a Swiss National Bank shareholder meeting, according to Reuters.

He noted that the SNB considers the risks associated with its investments and has excluded certain business sectors such as coal producers.

Climate activists staged a protest at the Swiss National Bank’s shareholder meeting on Friday, calling on the Swiss central bank to stop investing in companies that activists say are harmful to the environment and running fracking.

-Sophie Kidlin

Euronext boss Stephen Boznah said on Friday that a long-awaited debut of Europe’s biggest buyout firms showed the initial public offering market was back on track.

Amsterdam-listed stock CVC Capital Partners’ shares of the Luxembourg-based private equity group rose nearly 23% on Friday morning. The IPO is expected to be the largest IPO in Europe this year.

“It’s a very strong signal that IPOs are coming back to Europe, especially on the continent,” Euronext’s Boznah told CNBC’s “Squawk Box Europe.”

“Our product pipeline over the next few months is very, very impressive,” he added.

— Sam Meredith

NatWest shares rose 4.8% in Europe as of 11:13 a.m. London time. Reported first-quarter profit fell short of expectations.

Operating profit before tax for the first three months of 2024 was 1.3 billion pounds ($1.63 billion), down 27% from the same period in 2023.

Analysts had previously forecast a pre-tax operating profit of £1.2 billion in the first quarter of 2024. According to Reuters.

-Sophie Kidlin

European countries may increase defense spending because “we have an aggressive neighbor to the east,” but more needs to be done, Michael Johansson, CEO of Swedish defense firm Saab, told Work on Friday.

“We need to step up and build more resilience and resistance,” he told CNBC’s “Squawk Box Europe.”

Strengthening means building new capabilities and adopting new technologies, Johnson said, specifically referring to air defense systems.

He added that Saab was investing heavily and taking steps to improve capacity, but needed a more long-term commitment from European governments.

Saab released its first quarter 2024 results on Friday. The company’s first quarter operating income jumped 28% to 1.19 billion crowns ($109 million), explaining sales rose 24%.

Organic sales growth forecast increased to 15%-20% from earlier 12%-16%.

Johnson told CNBC that Saab is investing heavily in increasing production capacity at its facilities.

“We are slightly ahead of schedule this year and next year in terms of investment. We are investing heavily in support arms and ammunition,” he said, adding that the number of personnel has also increased.

-Sophie Kidlin

A NatWest Group plc bank branch in London, England on Thursday, February 15, 2024.

Bloomberg |

Natwest Bank The fall reported on Friday was slightly smaller than expected at 27% as first-quarter profit British banks try to fend off competition from other savings and mortgage providers.

Operating profit before tax was 1.3 billion pounds ($1.63 billion) in the first three months of this year, down from 1.8 billion pounds in the first quarter of 2023. Analysts had forecast pre-tax operating profit of $1.2 billion for the period, according to Reuters.

NatWest chief executive Paul Thwaite said the results showed consumer confidence was returning.

He said in a statement: “Despite continued uncertainty, customer confidence and activity are improving, with both loans and deposits growing in the quarter and impairment losses remaining low, reflecting the strength of our business. Diversification.”

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Natwest Bank.

Investors looking to invest in China’s growing gaming industry should pay particular attention to two technologies, Goldman Sachs said.

The investment bank expects “China to achieve faster growth from mid-2024, supported by game launches and a relaxed regulatory environment.”

Talking about the opportunities the company faces, the Wall Street bank pointed to the second quarter of 2023 as “an accelerated quarter for the launch of hit games,” among other opportunities.

CNBC Pro subscribers can read more here.

— Amala Balakrishna

Stock popular sportswear brands lululemon It has fallen sharply this year, trailing the S&P 500 by a wide margin.

Its shares were only included in the Wall Street index last October and have fallen nearly 28% so far this year.

Is it a good deal for investors right now? Jack Dwyer, CEO of Infusive Asset Management, weighed in.

CNBC Pro subscribers can read more here.

– Tan Wizen

European markets will open higher on Friday, recovering from yesterday’s losses.

British FTSE 100 The German stock index is expected to open 50 points higher at 8,124 German DAX index France rose 62 points to 17,980 CAC Italy, up 38 points to 8,049 points FTSE MIB It rose 185 points to 33,857, according to IG data.

Companies including L’Oreal, TotalEnergies and NatWest will release enterprise editions. The published data includes home loans in Sweden and retail sales in Spain.

— Karen Gilchrist