- November 4, 2024
- By: Admin1_blog
- EU Market, Indices
Holly Ellyatt
European markets are expected to start the week on a mostly positive note Monday, with all eyes on Tuesday’s presidential election in the U.S.
The U.K.‘s FTSE 100 index is expected to open 4 points lower at 8,173, Germany’s DAX up 11 points at 19,261, France’s CAC up 2 points at 7,415 and Italy’s FTSE MIB up 74 points at 34,507, according to data from IG. Earnings are set to come from BioNTech and Ryanair and data releases include European manufacturing purchasing managers’ index data.
Global markets are gearing up for a historic week, with the highly anticipated U.S. presidential election taking place on Tuesday and the latest poll from NBC News showing a “deadlocked race” between former President Donald Trump and Vice President Kamala Harris.
Global market aftershocks may hinge heavily on which party takes control of Congress as a result of the vote. If control of the U.S. House of Representatives and Senate is divided, it would likely mean a maintaining of the status quo. A Republican or Democratic sweep, however, would likely be coupled with a White House victory for the same party, and could mean fresh spending plans or a tax overhaul.
Asia-Pacific markets rose Monday, while U.S. stock futures were mixed in overnight trading Sunday.
— CNBC’s Samantha Subin contributed reporting to this markets blog.
CNBC Pro: Want to invest in China’s hot EV market? The pros share their take
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Sun remains positive on the sector’s growth following a 31% year-to-date jump in EV sales to around 8 million units at the end of the third quarter. This translates to a penetration rate of 49% of China’s auto market in September.
Sun, along with Jason Hsu, founder and chief investment officer at Rayliant Global Advisors, share their take on the sector.
— Amala Balakrishner
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An outperforming fund manager who previously sold Meta Platforms shares over concerns about the company’s virtual reality investments is now bullish on the technology giant’s artificial intelligence strategy.
Stephen Yiu, chief investment officer of Blue Whale Growth Fund, revealed that his fund had previously sold out of Meta Platform shares in 2022 due to doubts over the company’s Metaverse strategy. He is now backing Meta’s plans to spend billions on AI.
— Ganesh Rao
European markets: Here are the opening calls
European markets are expected to open in mostly positive territory Monday.
The U.K.’s FTSE 100 index is expected to open 4 points lower at 8,173, Germany’s DAX up 11 points at 19,261, France’s CAC up 2 points at 7,415 and Italy’s FTSE MIB up 74 points at 34,507, according to data from IG.
Earnings are set to come from BioNTech and Ryanair and data releases include European manufacturing purchasing managers’ index figures.
— Holly Ellyatt
Source : cnbc