- Singapore's Keppel Corp posted a steeper-than-expected drop in annual profit on Thursday hurt by its urban development unit, but forecast China's easing market conditions and policy support to the real estate sector would boost market sentiment.
Malawi's central bank has kept its benchmark lending rate at 18%, it said on Thursday. "The economic outlook has materially improved, after a sharper-than expected slowdown last year, due to the expected recovery in the agricultural sector and an improvement in policy environment," the Reserve Bank of Malawi said in a statement.
Auto parts supplier Aptiv Plc (APTV) forecast a lower-than-expected 2023 profit on Thursday, as inflating costs for labor and energy along with volatile production schedules project a dim outlook for the auto industry. Aptiv (APTV) said it expects full-year adjusted profit per share between $4.00 and $4.50, compared with analysts' expectation of $4.73 per share, as per Refinitiv data.
Banco Santander Brasil SA (BSBR) on Thursday reported a large fourth-quarter net profit miss as loan-loss provisions rose against a backdrop of higher interest rates and deteriorating credit conditions, potentially setting a negative tone for the sector early in the earnings season.
- Meta Platforms Inc (META) shares closed about 23% higher on Thursday and helped spark a rally in the technology sector after the Facebook owner floored Wall Street by slashing its spending forecast and boosting its stock buyback plan by $40 billion. The company added more than $90 billion to its market value and the stock logged its best day in a decade.
Japan's Nikkei share average rose slightly on Thursday, led by technology heavyweights after the Nasdaq jumped overnight, while a stronger yen weighed on exporters and limited the index's advance. By 0217 GMT, the Nikkei index was up 0.2% at 27,394.52. Of the Nikkei components, 50 stocks rose, 174 fell and one traded flat.
Core Laboratories NV (CLB): * FOURTH QUARTER REVENUE OF $128 MILLION. * FOURTH QUARTER GAAP EPS OF $0.14; EX-ITEMS, $0.20. * LOOKING FORWARD INTO 2023, SEES CRUDE-OIL MACRO FUNDAMENTALS CONTINUING TO SUPPORT MULTI-YEAR RECOVERY CYCLE FOR OIL,GAS INDUSTRY. * PROJECTS FIRST QUARTER 2023 REVENUE TO RANGE FROM $125 MILLION TO $129 MILLION.
- A chip industry group is warning that if U.S. allies do not adopt curbs on semiconductor manufacturing equipment to China that are comparable to U.S. controls, they will not be effective. The warning came after news of an agreement by the Netherlands and Japan to curb chipmaking exports to China to align with rules the Biden Administration imposed in October.
U.S. manufacturing contracted further in January as higher interest rates stifled demand for goods, but factories did not appear to be laying off workers in large numbers. The Institute for Supply Management said on Wednesday that its manufacturing PMI dropped to 47.4 last month from 48.4 in December.
Canadian manufacturing activity expanded in January for the first time in six months as an uptick in domestic demand led to firms increasing production and inflation pressures showed signs of easing, data showed on Wednesday. The S&P Global Canada Manufacturing Purchasing Managers' Index rose to a seasonally adjusted 51.0 in January from 49.2 in December.
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