Daily Brief - 27 Dec 2023

European stocks hold steady near 2022 highs as trading resumes

European stocks have been doing quite well recently, almost reaching their highest point since January 2022. This is happening as the markets open up again after the Christmas holidays.

Big names like AstraZeneca and Bayer AG saw their shares go up, thanks to some successful deals and legal wins. Although trading's been a bit slow with the year-end coming up, overall, stocks in Europe are expected to end the year over 12% higher.

But, there's a bit of caution in the air as many investors think a drop might be on the horizon. Meanwhile, car and mining companies are getting a lot of attention due to high sales and iron ore prices.

Apple fights to keep watches on shelves amid patent dispute

Apple is in a bit of a pickle as they're taking legal action to lift a US ban on selling some of their smartwatches. This trouble started because of a patent issue with a company called Masimo Corp.

It's a big deal for Apple since these watches bring in about $17 billion a year! They've even had to stop selling their Series 9 and Ultra 2 watches online and in their stores.

Apple's trying to fix the problem with a software update and hopes to start selling the watches again soon. While this is going on, their shares haven't really been affected much, and they're still doing pretty well financially.

Tesla gears up for new model Y coming from Shanghai

Tesla is getting ready to introduce a new version of its very popular Model Y car, and they're planning to start making it in Shanghai by mid-2024.

This new model will have some noticeable changes on the outside and inside, more than the last update they did. They're doing this to keep up with the competition, especially from local Chinese carmakers.

The Model Y has been a big hit, especially in China where it makes up most of Tesla's sales there. Meanwhile, Tesla's rivals are also busy making new cars to grab more of the market. Tesla's Shanghai factory, which opened in 2019, plays a huge part in their global business.