France’s Sanofi to buy U.S. drug project from Inhibrx
A Sanofi logo sits on the facade of the company’s headquarters on December 11, 2020 in Gentilly near Paris, France.
Chesnot | Getty Images
French healthcare firm Sanofi agreed to purchase the development project INBRX-101 from its parent company Inhibrx Inc in a deal worth $2.2 billion, the companies said on Tuesday.
— Karen Gilchrist
CNBC Pro: Volkswagen and more: Barclays names European ‘conviction’ stock ideas — and gives one 59% upside
Barclays has made an upbeat forecast for stocks in 2024, expecting higher, yet more moderate, returns than the exceptional gains of last year.
The investment bank believes stocks still have room to rise if inflation continues slowing, allowing central banks to eventually cut interest rates.
CNBC Pro takes a look at five companies, including Volkswagen, in Barclays’ European “Conviction with Catalysts” list of stock ideas that offer strong upside potential.
Subscribers can read more here.
— Ganesh Rao
CNBC Pro: JPMorgan and Morgan Stanley are bullish about these U.S.-listed names in China’s internet sector
Morgan Stanley and JPMorgan named their key China internet picks and the themes to watch right now.
Both Wall Street banks indicated that it will be an alpha-driven market for the sector.
“For 2024, we think an alpha-driven investment strategy will continue to offer good risk/reward,” JPMorgan said in a Jan. 16 note.
Both banks named their preferred names in the sector. All are traded in the United States. One named a “good contrarian long case,” giving it 107% upside.
CNBC Pro subscribers can read more here.
— Weizhen Tan
European markets: Here are the opening calls
European markets are set to open in positive territory Monday.
The U.K.’s FTSE 100 index is expected to open 26 points higher at 7,488, Germany’s DAX up 131 points at 16,680, France’s CAC up 59 points at 7,427 and Italy’s FTSE MIB up 264 points at 30,592, according to data from IG.
Flash euro zone consumer confidence data for January is due.
— Holly Ellyatt