“Surprising Decline: German Industrial Output Drops Again in November”

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Volkswagen Brand Sales Soar 6.7% in 2023

German automaker Volkswagen has announced that sales of its Volkswagen brand vehicles increased by 6.7% in 2023, reaching a total of 4.87 million units. This figure surpasses the sales numbers from the previous year in all regions. Notably, sales of Volkswagen’s electric vehicles experienced a significant jump of 21.1%, totaling approximately 394,000 units.

Imelda Labbé, Volkswagen board member for sales, marketing, and after-sales, expressed satisfaction with the delivery figures, stating, “The delivery figures show that we are on the right track as a brand and that our cars are well received by our customers.” Labbé also acknowledged the challenging market environment expected in 2024 but expressed confidence in the company’s revised and attractive product portfolio.

German Industrial Output Declines Unexpectedly in November

In an unexpected turn of events, German industrial production experienced a decline in November compared to the previous month. According to the federal statistics office, output fell by 0.7% on a seasonally and calendar-adjusted basis, following a revised 0.3% decline in October. This marks the sixth consecutive monthly decline in industrial output.

Bank of America Predicts Stocks of AI Suppliers to Soar

Bank of America remains optimistic about the artificial intelligence (AI) sector and expects stocks of key AI suppliers to surge by over 35%. The bank’s analysts, led by Robert Cheng, believe that AI is different from previous technology bubbles due to the involvement of global cloud service providers and enterprises, rather than just consumer-focused start-ups.

Bank of America has identified three top stock picks with significant upside potential in the AI industry. Despite concerns about a possible downturn, the bank encourages investors to continue building positions in AI stocks, emphasizing the high quality and strong financial position of these companies.

Undervalued Big Tech Stock Presents Buying Opportunity

Nvidia has long been a favorite among investors in the field of artificial intelligence. However, one strategist believes that another tech company, which has been overlooked by the market, presents a buying opportunity. This undervalued Big Tech stock is considered a high-quality investment with a strong balance sheet. The strategist advises investors to consider building a position in this stock, especially if there is further weakness in the market.

Morgan Stanley Reveals Top European Internet Stocks for 2024

Morgan Stanley predicts that internet stocks in Europe will experience gains in 2024. The bank’s analysts highlight improving fundamentals, declining interest rates, and customer growth as factors contributing to the positive outlook for the sector. They recommend investing in European internet stocks due to their cost discipline and attractive valuations.

European Markets Set to Open Positively

European markets are expected to open on a positive note today. The FTSE 100 index in the UK is projected to open 28 points higher at 7,713, while Germany’s DAX is anticipated to be up 47 points at 16,571. France’s CAC is expected to rise by 27 points to 7,470, and Italy’s FTSE MIB is predicted to increase by 88 points to 30,745. Additionally, German industrial output data for November will be released, providing further insights into the state of the economy.