European markets open higher, recession risks, data, earnings

Stocks on the move: ITV down 9.6%, Hargreaves Lansdowne down 4.4%

Shares in ITV rose 9.6% following a report by the Financial Times that it may sell a stake in its production unit ITV Studios.

ITV Studios is one of Europe’s biggest program makers, and some analysts estimate it could exceed its parent company’s £2.5 billion ($2.82 billion) market capitalization.

British investment platform Hargreaves Lansdown reported a 4.4% drop in earnings and news that CEO Chris Hill is stepping down. The company reported a decline in assets under management in the first quarter of fiscal 2023.

It has launched a multi-million pound lawsuit over the failure of one of its former fund managers, Neil Woodford.

– Hannah Ward-Glenton

UK government bond yields fall ahead of financial report

Yields on long-dated UK government bonds, known as gilts, fell Before the financial statement New finance minister Jeremy Hunt is expected later today.

The 10-year gilt yield fell 19 basis points to trade at 4.129%.

Yields on 20-year gilts fell around 15 basis points at the market open, while 30-year index-linked gilt yields fell around 17 basis points.

Yields on the 5-year and 2-year gilts fell on Monday.

– Hannah Ward-Glenton

British Pound Strengthens After Policy Changes

Sterling rose on Monday morning in Asia following the UK government’s policy changes over the weekend. The pound was last up 0.56% at $1.1233.

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China’s central bank left medium-term rates unchanged

The People’s Bank of China rolled over its Medium Term Lending Facility (MLF) loans and kept its interest rate unchanged at 2.75%. Report on its website.

The central bank announced it would keep the one-year rate unchanged for a second month and paid 500 billion yuan ($70 billion) through the MLF.

A Reuters poll showed no change in the MLF rate and expected a modest change in lending from the central bank.

– Jihye Lee

CNBC Pro: Wall Street analysts say sell these stocks as market volatility continues

Stocks around the world have taken a beating this year, and major indexes are deep in negative territory.

As investors weigh whether to sell or invest, CNBC Pro screened nearly 1,500 large- and mid-cap global stocks and found several large companies with sell or underweight ratings.

CNBC Pro subscribers can read more here.

– Ganesh Rao

European markets: Here are the opening calls

European markets headed for a lower open on Monday as investors analyzed the worsening economic outlook.

According to IG’s data, the UK’s FTSE index is expected to drop 31 points to 6,819, the German DAX down 60 points to 12,377 and the French CAC down 29 points to 5,902.

The reduced openness in Europe comes amid an increasingly pessimistic global sentiment; Stocks in the Asia-Pacific region The region fell on Monday as recession fears weighed on sentiment.

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Meanwhile, in the US, stock futures rose early on Monday as investors awaited big earnings reports. Bank of America Monday, when Goldman Sachs The numbers will be released on Tuesday morning.

Last week, it was hotter than expected Inflation reading The markets sparked wild price swings as investors readjusted their expectations for impending rate hikes by the US Federal Reserve.

On the data front in Europe, the final inflation reading data for Italy is due in September.

– Holly Elliott

CNBC Pro: Morgan Stanley’s Mike Wilson flags key risk to earnings — and names stocks to avoid

Morgan Stanley’s US equity group, led by Michael Weaver and Mike Wilson, says there is a key risk to earnings on the horizon.

The investment bank has named a number of stocks that it believes will be most vulnerable over the next 3-6 months, and it could see a rebound in their share prices over the same period.

Pro subscribers can Read more here.

– Javier Ong

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