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Stocks on the move: Delivery Hero up 14%, Ocado down 5%

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Germany stocks Delivery hero It jumped 14% in late afternoon trading after Bloomberg mentioned Activist investment firm Sachem Head Capital Management has acquired a 3.6% stake in the company and may seek a seat on the board.

After strong growth due to the pandemic, Delivery Hero has struggled to shake off concerns about liquidity and growth potential.

And on the other side of Stokes 600 Index, a British grocery delivery company Ocado Decreased 5%. Chairman Rick Haythornthwaite will step down next year, the company announced Thursday.

-Jenny Reed

Volvo shares rise after record monthly sales in March

The all-electric Volvo EX30 is on display during the Everything Electric London 2024 show at ExCel on March 28, 2024 in London.

John Cable | Getty Images News | Getty Images

Volvo Cars shares rose 3.87% at 09:03 a.m. London time, after the automaker was on Thursday Record sales for one month For the month of March.

Volvo Cars said it sold 78,970 cars last month, an increase of 25% year-on-year and an all-time high for global transactions in a single month.

Volvo Cars noted that the company's new all-electric EX30 model contributed to sales growth, along with “strong sales performance” in Europe and the United States.

Total first-quarter sales of Volvo Cars, which is majority owned by China's Geely, reached 182,687 vehicles, up 12% from the same period in 2023.

“These numbers reflect the strength of our strategy and the diversity of our products – offering fully electric cars as well as hybrids and mild hybrids in the right mix,” said Björn Annwall, Executive Vice President, Volvo Cars.

“We are making good progress towards achieving our annual sales target of at least 15 percent growth, and in the coming months we will focus on increasing sales of our EX30.”

Roxandra Iordas

The Riksbank indicates that the first interest rate cut could take place in May

The Swedish flag hangs over the country's central bank.

Bloomberg/Contributor/Getty Images

The Riksbank could go ahead with its first interest rate cut next month, according to minutes of its latest March policy meeting, published on Thursday.

“The first rate cut is expected to take place in May or June, and regardless of inflation expectations, many analysts state that the timing will depend on the development of the krona and when other central banks, especially the European Central Bank, cut interest rates.” The record noted.

“Market pricing suggests an interest rate of just over 3 percent towards the end of 2024. The Riksbank’s updated interest rate forecast is expected to indicate a relatively high probability of a rate cut during the first half of the year and one or more further cuts. In 2024.”

In late March, the central bank It chose to keep the interest rate unchangedwith the key interest rate at 4%, citing inflationary pressures that he assessed as “still fairly high” at the time.

Market participants are closely watching which central bank will follow the path of the Swiss National Bank, which last month cut its key interest rate by 0.25 percentage points to 1.5%.

Roxandra Iordas

CNBC Pro: Tesla short seller names 2 auto stocks to own — giving them 100% upside

A Tesla short seller has named two auto stocks that he believes have the potential to deliver a 100% upside for investors.

Lekander, who has a short position in Tesla shares, said the electric car maker could “go bankrupt” while its stock price could fall to $14. Short sellers profit when stocks fall.

The hedge fund manager said the “Tesla bubble” created what he called an “anti-bubble” in the auto sector, leading investors to be overly pessimistic toward companies that were already performing well.

Lekander named auto stocks that could more than double in share price from the current level as the Tesla bubble deflates. CNBC Pro subscribers can read more here.

-Ganesh Rao

CNBC Pro: Are you considering investing in Tesla? One investor is giving the stock a 79% upside

Some investors may be hesitant about buying Tesla right now, but one analyst is bullish on the stock.

Over the past 12 months, shares of Elon Musk's auto giant have fallen by approximately 14.5%.

Shares also took a hit on Tuesday, after Tesla delivered far fewer vehicles than expected by analysts polled by FactSet in the first quarter of the year.

However, one global auto analyst sees investment opportunities in Tesla, especially in the long term.

“The stock, despite this performance today, is only down 4.5%, which makes me think expectations are already pretty low,” RBC Capital Markets' Tom Narayan told CNBC's “Squawk Box Asia” in April. 3.

He also outlined other opportunities he sees in the short and long term.

CNBC Pro subscribers can read more here.

– Amala Balakrishner

European Markets: Below are the opening calls

European markets are scheduled to open higher on Thursday.

United kingdom FTSE 100 index The index is expected to open 7 points higher at 7,936 in Germany Dax France rose one point to 18,371 Kak 9 points higher at 8161 and Italy FTSE MIB indicator It rose 26 points to 33,908, according to IG data.

Wednesday will be light on the corporate earnings front, but inflation data is due from the Eurozone and Turkey.

– Karen Gilchrist



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