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European markets open to close, recession risks, data, earnings

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CNBC Pro: Close to retirement? How to split your wallet right now, according to the pros

Despite the volatility in the markets, asset managers say it’s important to keep investing if you’re nearing retirement.

But how should the funds be allocated, given unstable markets, a shorter investment horizon and the need for retirees to have some liquidity?

CNBC Pro asks the experts for their views.

Professional subscribers can read more here.

— Weizhen Tan

British Pound Strengthens After Policy Changes

Sterling rose on Monday morning in Asia following more policy changes by the UK government late last week. The pound was up 0.56% at $1.1233.

CNBC Pro: As Market Volatility Persists, Wall Street Analysts Say Sell These Stocks

Stocks around the world have taken a beating this year, with major indices still in negative territory.

As investors weigh whether to sell or stay invested, CNBC Pro evaluated nearly 1,500 large- and mid-cap global stocks and found several major companies rated sell or underweight.

CNBC Pro subscribers can read more here.

— Ganesh Rao

China’s central bank leaves medium-term rates unchanged

The People’s Bank of China extended its medium-term loans (MLF) and kept its interest rate unchanged at 2.75%, according to a statement on its website.

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

A Reuters poll expected no change in the MLF rate and a partial renewal of central bank lending.

—Ji Hye Lee

CNBC Pro: Morgan Stanley’s Mike Wilson Points Out a Key Earnings Risk and Names Stocks to Avoid

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

The investment bank named several stocks that it believes will be hit hardest in the next 3-6 months, and could see their share price decline in the same period.

Professional subscribers can read more here.

—Zavier Ong

European markets: here are the opening calls

European markets are headed for a lower open on Monday as investors examine the deteriorating economic outlook.

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

Europe’s lower open comes amid increasingly pessimistic global sentiment; Stocks in the Asia-Pacific region fell on Monday as recession fears weighed on sentiment.

Meanwhile, in the US, stock futures traded higher early Monday as investors awaited big earnings reports from Bank of America on Monday, while Goldman Sachs is due to release figures on Tuesday morning.

Last week, a higher-than-expected inflation reading fueled wild price swings in markets as investors readjusted their expectations for upcoming rate hikes from the US Federal Reserve.

As for the data in Europe, the final inflation reading data for Italy will be published in September.

— Holly Ellyatt

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