European markets expected to open higher; UK awaits results for a new prime minister

Soegeefx AppsEU MarketEuropean markets expected to open higher; UK awaits results for a new prime minister

Hannah Ward-Glenton

European markets are anticipating a higher open Monday, with U.K. politics expected to settle as the ruling Conservative Party picks a new prime minister following the resignation of Liz Truss last week.

French President Emmanuel Macron and Italy’s new Prime Minister Giorgia Meloni held informal talks Sunday in their first meeting together, while Germany is still contemplating its gas price strategy. In the U.S., stock futures were little changed Monday morning after all three major averages notched their best week since June at Friday’s close.

Shares in the Asia-Pacific were mixed Monday, but Hong Kong’s Hang Seng index plunged about 6%, with the Hang Seng Tech index down more than 8%.

European markets: Here are the opening calls

European indexes are expected to open higher this morning, with the U.K.’s FTSE up 23 points to 6,992, Germany’s DAX up 130 points to 12,846, France’s CAC up 50 points to 6,079 and Italy’s MIB up 221 points to 21,647.

— Hannah Ward-Glenton

CNBC Pro: Oil could rise or fall — and these energy stocks are winners either way, portfolio manager says

Whether oil prices rise or fall, energy stocks are still worth investing in, according to Foord Asset Management’s Brian Arcese.

He names a couple of his favorite energy stocks, including one that he says will generate a “significant amount of cash” if oil prices stay high.

— Weizhen Tan

Hong Kong stock movers: Tech drags down the broader index

Chinese tech companies dragged down the broader Hang Seng index in morning trade, with heavyweights such as Tencent and Alibaba dropping around 6% each.

Meituan shed 4.87%, while JD.com declined around 6% as well.

The Hang Seng Tech index was 3.49% lower, and the Hang Seng last lost 2.73%.

— Abigail Ng

8 Hours Ago

Big tech earnings reports coming up this week

A slew of big tech names report third quarter earnings this week. Because of the size of many of these companies’ market capitalizations, any moves after earnings will likely impact the entire market.

Alphabet and Microsoft report earnings on Tuesday, followed by Meta Platforms on Wednesday. Apple and Amazon will report Friday.

—Carmen Reinicke

Stock futures rise Sunday evening

Stock futures rose Sunday evening as Wall Street looks to continue its best week since June amid third quarter earnings season.

Futures tied to the Dow Jones Industrial Average gained 289 points, or 0.93%, just a few minutes after the start of futures trading Sunday. S&P 500 futures rose 1.18% while Nasdaq 100 futures climbed 1.37%.

—Carmen Reinicke

Source : CNBC

You might also like

Leave a Reply

Enter Captcha Here :