German companies’ willingness to hire new staff declined slightly in November, the Ifo Institute said Tuesday.
Klaus Wohlrabe, head of surveys at the Ifo, said that German companies were putting off recruitment with “a solid foundation for recovery still not in sight,” as they continue to experience a lack of new orders.
The research group found that manufacturing firms were making do with fewer employees, particularly in energy-intensive industries, while retailers and construction firms were being even more cautious. Service providers reported a more positive picture in terms of growing headcount.
MON, NOV 27 20237:39 PM EST
CNBC Pro: Barclays reveals the 10 global stocks loaded with debt and at risk of higher interest rates
Barclays has identified European stocks that are most at risk of taking a hit to profits over rising interest payments for debt over the next two years.
During the coronavirus pandemic, central banks cut interest rates to historic lows, enabling companies to borrow debt at very favorable rates. Many firms took advantage of low rates to push out maturities of their bonds to lower interest expenses and strengthen balance sheets.
However, refinancing has now become far more difficult as rates have surged and are expected to stay elevated through 2025.
The Wall Street bank believes refinancing debt at higher rates could dent earnings by 3% to 5% over the next two years, impacting stocks.
CNBC Pro subscribers can read more about the stocks identified here.
— Ganesh Rao
MON, NOV 27 20237:39 PM EST
CNBC Pro: Forget Tesla. Portfolio manager names another way — and stock — to play the EV market
Tesla is a hot favorite when it comes to investing in the electric vehicle market.
But rising competition is bringing the company’s continued dominance into question.
Brian Arcese, portfolio manager at investment firm Foord Asset Management, CNBC Pro Talks last week that he’s taken two “slightly untraditional” approaches to investing in that space.
CNBC Pro subscribers can read more here.
— Weizhen Tan