## Softbank’s Arm May Get Secondary Listing in London
Hermann Hauser, the founder of Acorn, a venture capitalist firm that played a key role in the early stages of chip design company Arm, has said that he wouldn’t rule out a secondary Arm listing in London. This follows the company’s recent takeover by SoftBank.
## Positive Outlook for US Stocks
On Thursday, the major average US stocks opened higher, with the Dow Jones Industrial Average adding 145 points, or 0.4%. The S&P 500 and Nasdaq Composite both gained 0.5%.
## European Central Bank Raises Interest Rates
The European Central Bank (ECB) has raised interest rates to a record level, prioritizing inflation control over bolstering the weakening economy. The base rate now sits at 4% following the 25-basis-point increase.
## ECB Policy Risks Amid Economic Data
According to JPMorgan Asset Management’s Iain Stealey, the ECB is likely to impose a “dovish” interest rate hike on Thursday. However, he warns that the central bank must be cautious of potential policy errors. Expectations for Thursday’s policy meeting are divided between a “hawkish pause” and a “dovish hike,” with some traders anticipating a 25-basis-point increase while others expect interest rates to remain steady.
## IPOs: The Right Time
Adam Kostyál, head of listings for Europe, Middle East, and Africa at Nasdaq, discusses the significance of Arm’s initial public offering and the upcoming one for Instacart.
## EU-China Dispute Over Electric Vehicle Subsidies
European auto stocks fell 1.2% on Thursday morning due to a potential fight over electric vehicle subsidies between the European Union and China. The EU has launched an investigation into subsidies given to EV-makers in China.
## Inflation Outlook and Risks to Stocks
Sunaina Sinha Haldea, global head of private capital advisory at Raymond James, discusses the inflation outlook and risks to stocks.
## European Stock Market
European stock markets were cautiously higher early Thursday, with the ECB’s monetary policy decision due in the afternoon. The pan-regional Stoxx 600 index was initially up by 0.1% but was nearly flat by 8:30 a.m. London time.
## Euro Gains Ahead of ECB Decision
The euro gained against the U.S. dollar on Thursday morning after hitting a three-month low against the greenback. Opinions are split on whether the ECB will announce a rate hike at 2:15 p.m. Frankfurt time, with markets pricing in a roughly 64% probability of a hike.
## Arm IPO: Analysts’ Opinions
Goldman Sachs analysts have named the European stocks they predict will announce significant buybacks until 2024, which they say will present substantial upside to their share prices.
## Softbank Shares Dip After Arm Prices IPO
Shares of Japanese investment holding company Softbank fell slightly on Thursday after subsidiary Arm priced its initial public offering at $51 per share. Softbank shares slipped as much as 2.17% in the morning session, before paring some of its losses later in the day.
Original Story at www.cnbc.com – 2023-09-14 14:52:00
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