Resource Data

Tracking global negativity ahead of key inflation data

Stoxx 600 hits 1-week low

Europe’s blue chip index briefly touched a week-long low on Monday morning, falling more than 0.8% before recovering some of its losses.

Concerns about economic growth, in the face of tighter monetary policy and the war in Ukraine, continued to weigh on investor confidence.

Stocks in motion: DS Smith up 8%, ams-Osram down 9%

British packaging company DS Smith saw its shares jump more than 8% in early trade after projecting that annual performance ahead of expectations, thanks to robust revenue growth and cost-cutting measures.

At the bottom of the Stoxx 600, ams-Osram shares fell more than 9% after it announced that its chief financial officer planned to step down from April 2023.

Bank of England announces liquidity measures to help ease pension fund problems

Bank of England set to introduce new liquidity measures as it seeks to ensure financial stability in the UK

This comes after the central bank on September 28 announced a two-week emergency buying program for long-term UK government bonds. It was designed to protect Liability Driven Investment (LDI) funds from impending collapse.

Now, the BOE has announced new measures to ensure an “orderly end” to its buying program on October 14, including increasing the size of its daily auctions to allow room for gold purchases before the deadline. Friday.

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CNBC Pro: Goldman Says These ‘Cheap’ Global Stocks Should Win Short and Long Term

As Europe grapples with skyrocketing electricity and gas bills, Goldman Sachs says global companies focused on energy efficiency are set to outperform.

“We believe that energy efficiency companies can outperform in the short term, with a focus on energy efficiency to address the current energy crisis following the Russian invasion of Ukraine,” the authors wrote. analysts in an October 3 note.

“[And] in the long term, with a focus on energy efficiency to fight climate change and achieve the ambitious “net zero” objectives.

CNBC Pro subscribers can learn more here.

—Weizhen Tan

Here are the opening calls

Great Britain FTSE100 is seen around 51 points lower at 6,940, Germany DAX is expected to fall about 122 points to 12,151 and France CAC 40 is expected to fall about 61 points to 5,806.

CNBC Pro: Porsche is now more valuable than VW: Here’s what the pros think of the automakers

A week after its public debut, the market capitalization of luxury carmaker Porsche has surpassed that of its former parent company, the Volkswagen Group.

Some fund managers are already comparing the German firm to You’re herethe world’s largest electric car maker, said Porsche’s electrification plan for its Macan EV should be an instant success.

Compared to its parent VW, which makes nearly 10 million cars a year, Porsche makes just over 300,000 cars but accounts for a quarter of Volkswagen’s profits.

CNBC Pro subscribers can learn more here.

—Ganesh Rao