Sunday, November 27, 2022
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European markets open to close, stocks, data, earnings

Stoxx 600 profits in early trading

The pan-European Stoxx 600 rose 0.8% early in trading, with banks contributing 1.7% to the lead as all sectors advanced except basic funds, which fell 0.6%.

The best performer on the index was Danish healthcare company Ambu, up about 7.3%, while the worst performer was investment group Storskogen, down 5.6%.

— Holly Ellyatt

CNBC Pro: Strategist Reveals Why This FAANG Stock Is A Safe Bet Ahead Of September

A “seasonal” period for equities is imminent, which could lead to more volatility for equity markets.

But King Lip, chief strategist at BakerAvenue Wealth Management, believes one FAANG stock could be a safe bet.

Pro subscribers can read the story here.

— Zavier Ongo

The US needs a ‘miracle’ to avoid a recession: Stephen Roach

The US will go into recession unless a “miracle” happens, said Stephen Roach, who was previously chairman of Morgan Stanley Asia.

“We’re definitely going to have a recession as the delayed effects of this major monetary tightening kick in,” he told CNBC’s “Fast Money” Monday. “They haven’t fallen for it at all now.”

“The unemployment rate should probably go above 5%, hopefully not much higher than that. But it could go to 6%,” Roach added.

— Jihye Lee, Stephanie Landsman

CNBC Pro: Analyst names the stocks ‘at risk of moving to $0’ and 3 top picks, up more than 80%

European markets: these are the opening calls

European equities are expected to open cautiously higher on Wednesday, with the UK’s FTSE index rising 18 points at 7,560, Germany’s DAX 33 points higher at 13,944, France’s CAC 40 18 points higher at 6,616 and Italy’s FTSE MIB 42 points higher at 13,944. 23,029, according to data from IG.

Data releases include preliminary unemployment data in the eurozone for the second quarter and gross domestic product for the second quarter. The latest UK inflation figures for July will be released, as well as preliminary Dutch GDP for the second quarter.

Revenues come from Uniper, Carlsberg, Persimmon, Balfour Beatty, BAT and National Grid.

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