European markets head for higher open as investors hope volatility has passed

Holly Ellyatt

European markets are heading for a positive open on Tuesday, continuing positive momentum as investors in the region hope that recent market volatility has come to an end.

European stocks were higher at the start of the new trading week, with cautious optimism returning after a sharp loss in last Friday’s session.

Overnight, Asia-Pacific markets were largely positive on Tuesday as investor fears over recent banking sector turmoil continued to show signs of easing. U.S. stock futures inched higher in overnight trading after the S&P 500 posted its third positive session in a row Monday.

CNBC Pro: As small caps hit multi-decade lows, one fund manager reveals 3 stocks to buy

The market sell-off earlier this month has hurt small-cap stocks more than their larger peers.

Yet Josh Bennett, senior portfolio manager at Alger, believes the volatility has created opportunities for investors to pick stocks that will outperform in the medium to long term.

Bennett named three stocks that he says are likely to have resilient earnings through a potential recession.

— Ganesh Rao

Asia-Pacific financials, banks rise as SVB deal offers relief on Wall Street

Shares of banks in the Asia-Pacific rose, tracking Wall Street’s moves overnight after First Citizens bought a large chunk of failed Silicon Valley Bank.

Australia’s Macquarie Group rose 1.5% in Asia’s morning trade, alongside Westpac, National Australia Bank and Commonwealth Bank of Australia all up roughly 1%.

South Korea’s financials also rose – Shinhan Financial Group rose 3.44%, KB Financial Group climbed 3.53% and Woori Financial Group gained more than 2%.

In Japan, Mizuho Financial Group also gained 3.15%, Mitsubishi UFJ Financial Group rose 2.42% and Sumitomo Mitsui Financial Group rose more than 3%.

— Jihye Lee

CNBC Pro: Morgan Stanley has upgraded a raft of stocks to overweight — here are 5

Despite the market volatility, Morgan Stanley upgraded a raft of stocks in March, including both U.S. and global picks.

The bullish calls spanned tech, pharmaceuticals and more, with the bank giving one stock a double upgrade. Here are five of the stocks upgraded by the investment bank:

— Weizhen Tan

European markets: Here are the opening calls

European markets are heading for a positive open Tuesday.

The U.K.’s FTSE 100 index is expected to open 18 points higher at 7,498, Germany’s DAX 41 points higher at 15,177, France’s CAC up 24 points at 7,104 and Italy’s FTSE MIB 85 points higher at 25,822, according to data from IG.

On Tuesday, earnings are set to come from MAN Group and data releases will include French business climate data and Italian consumer confidence figures.

— Holly Ellyatt

Source : cnbc