A $662 million acquisition bid from U.S. food giant Mars sent shares of British chocolatier Hotel Chocolat surging more than 160% on Thursday.

Hotel Chocolat, which was established 20 years ago to bring ethical, affordable luxury chocolate to the high street, said that the deal would allow the brand to expand internationally “further and faster.”

London-listed Hotel Chocolat is primarily U.K.-based, with 124 shops domestically and several others overseas.

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Hellofresh shares plummeted 22% on Thursday morning after the German meal kit delivery company cut its annual core profit forecast on the back of weak sales growth and rising costs in North America.

Burberry shares dropped 9% after the British luxury fashion brand warned that it may miss its annual revenue forecast amid a global spending slowdown.

At the top of the Stoxx 600 index, shares Swedish games developer Embracer Group jumped more than 12% after the company beat quarterly profit expectations and confirmed its full-year forecast.

Siemens shares climbed more than 5% after the German industrial conglomerate posted record-breaking quarterly earnings.

– Elliot Smith

European stocks opened in slightly negative territory on Thursday.

The pan-European Stoxx 600 index was down 0.2% in early trade, with chemicals shedding 0.7% to lead losses while utilities gained 0.6%.

Siemens on Thursday posted a 10% rise in revenue growth for its fiscal fourth quarter to a record high of 21.4 billion euros ($23.2 billion), beating forecasts, but expects a slowdown in 2024.

The German industrial conglomerate projects sales growth of 4-8% over the next 12 months, down from the 11% increase recorded for the 2023 fiscal year that ended in September, due primarily to a muted outlook for its industrial automation division.

However, the industrial powerhouse enjoyed record quarterly and full-year results as it closed out the fiscal year.

Industrial profit grew 7% to a record 3.4 billion euros in the fourth quarter, above a company-compiled forecast of 3.34 billion euros, to notch a record high of 11.4 billion euros for the year.

Net income was 1.9 billion euros for the quarter, taking the full-year figure to a historic high of 8.5 billion euros, while free cash flow also notched a record 10 billion euros for the full year.

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– Elliot Smith

UBS has highlighted several stock ideas it favors for 2024, as it forecasts massive cuts for interest rates next year.

The investment bank expects the U.S. will see slower economic growth and strong disinflation leading to an interest rate cut of 275 basis points. That would bring the Federal Funds Rate down from the current range of 5.25% and 5.5% to between 2.50% and 2.75%.

Given the economic outlook, UBS strategists recommend a number of trades to clients for 2024. CNBC Pro has highlighted three of them. Subscribers can read more here.

— Ganesh Rao

Shares in this tech giantare set to jump over 10% in the next 12 months, according to Brian Nowak, an equity analyst at Morgan Stanley.

The U.S. investment bank’s price target on the stock – gives it potential upside of around 11.5%.

“What we really liked about [the stock] is we think the market is still under appreciating the durability of their revenue growth in 2024 and 2025,” he told CNBC’s “” on Wednesday.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

European markets are expected to open in negative territory Thursday.

The U.K.’s FTSE 100 index is expected to open 8 points lower at 7,456, Germany’s DAX down 33 points at 15,713, France’s CAC down 17 points at 7,192 and Italy’s FTSE MIB down 114 points at 29,201, according to data from IG. 

Earnings are set to come from Siemens, Aegon, Premier Foods, Burberry, Aviva, Smiths Group and United Utilities.

— Holly Ellyatt