Stocks, news, data and earnings

OCI Chemicals topped the Stoxx 600 Index in late morning trading.

The stock rose 13% after the company He said Tuesday, it will review recommendations in a letter from shareholder ICP, which said it trades at a significant discount to its intrinsic value.

Meanwhile, shipping giant Moeller-Maersk fell 25% on the previous dividend day. company on Tuesday announce At its annual general meeting, it will pay an extraordinary dividend of DKK 2,300 ($335 USD) as well as a regular dividend of DKK 2,000.00 per share.

Beat Wittmann, partner at Porta Advisors, is discussing UBS’ appointment of Sergio Ermotti as CEO.

European stock markets were upbeat in early trading on Wednesday, with the regional Stoxx 600 index up 0.5% at 8:20 a.m. London time.

The French CAC 40 Index rose by 0.65%, the German DAX by 0.42%, and the British FTSE 100 by 0.26%.

Banks extended the previous session’s gains, rising 0.5%.

UBS on Wednesday named Sergio Ermotti as the group’s new CEO, following its recent takeover of Credit Suisse.

This move will be effective from April 5.

Current CEO Ralph Hammers is set to remain at UBS and work alongside Sergio P. Ermotti to advise the bank during a transition period.

Read the full story here.

– Joanna Tan, Jihee Lee

Markets have been volatile over the past month which has some retail investors wondering where to park their money.

If you have $10,000 to invest, where should you put it amid the uncertainty, and how much should you allocate to each asset class? CNBC Pro speaks to portfolio managers and investors to find out.

CNBC Pro subscribers can read more here.

– Wizen tan

Equity markets have been on an upward trend in the first quarter of 2023, with the S&P 500 and MSCI World Index on track to post more than 4% of total gains.

This is especially noticeable after a year of negative returns.

Here, CNBC Pro subscribers can read about how markets have performed in similar conditions historically.

– Ganesh Rao

European markets are heading for a broadly higher open on Wednesday.

Britain’s FTSE 100 is expected to open 2 points lower at 7485, Germany’s DAX is up 35 points at 15,175, France’s CAC is up 15 points at 7,103, and Italy’s FTSE MIB is up 57 points at 25,915, according to data from IG.

Earnings are due to come from Next and data releases will include Italian and Russian unemployment numbers for February.

– Holly Ellytt