European markets open to close; US midterm elections closely watched

It will be difficult for Europe to attract LNG if China’s energy demand rebounds, economist says

Reinhard Cluse, chief eurozone economist at UBS Investment Bank, says China hasn’t consumed as much energy as before, which has allowed Europe to lead the world’s LNG glows Asia to Europe.

Inflation has not peaked, says strategist

Inflation has not peaked, says strategist

Ankit Gheedia, CFA Head of Equity at BNP Paribas, says central banks will need to keep raising interest rates and growth sectors will remain under pressure.

Ifo Institute: Soaring oil and gas prices drain billions from German economy

Rising oil and gas prices are draining billions of euros from the German economy, the Ifo Institute said on Tuesday.

The economic think tank estimated that real income losses for the current year will total around 64 billion euros ($63.95 billion), or 1.8% of the country’s economic output, as losses suffered last year already amounted to more than 35 billion euros, or 1%. of GDP.

“We estimate that next year will see losses of around €9 billion more, or 0.2% of economic output,” said Timo Wollmershäuser, head of forecasting at Ifo.

“Together, this gives us a real income loss over these three years of almost €110 billion, or 3.0% of annual economic output. The only time this figure has been higher is during the second oil crisis of 1979-1981, when the loss economic output was 4 percent.”

-Elliot Smith

Stocks in motion: Pandora up 6%, Persimmon down 8%

Quarterly earnings reports continue to drive individual stock price movement in Europe.

Shares of Pandora soared more than 6% in early trade to top the Stoxx 600 after the Danish jeweler beat third-quarter earnings expectations.

At the bottom of the index, the British manufacturer Khaki fell 8.7% after reporting an increase in cancellation rates and forecasting lower sales in 2023.

CNBC Pro: UBS Thinks Gold Will Rise By Double-Digit Percentage In 2023

Swiss investment bank UBS predicts a rebound in gold prices next year.

Gold has traditionally been seen as a hedge against inflation, but rising interest rates mean it has lost 18% of its value since March

UBS analysts said it offered “attractive risk-reward” going forward – here’s why.

CNBC Pro subscribers can learn more here.

—Ganesh Rao

CNBC Pro: Markets will rally through year-end, says Morgan Stanley’s Slimmon, naming 3 stocks to buy

Morgan Stanley’s Andrew Slimmon expects the market to rise as we head into the end of the year.

“Despite [the] The Fed Chairman has thrown cold water on the concept of a Fed Pivot, I continue to believe the stock market will recover through the end of the year,” Slimmon, manager, said on Friday. lead portfolio manager at Morgan Stanley Investment Management, at CNBC’s “Street Signs Asia.”

He expects all but one sector to rise and names three stocks to cash in on.

CNBC Pro subscribers can learn more here.

—Weizhen Tan

European markets: here are the opening calls

European markets are expected to open in mixed territory on Tuesday as investors keep a close eye on the US midterm elections.

Britain’s FTSE index is expected to open 28 points lower at 7,273, Germany’s DAX up 22 points at 13,556, France’s CAC unchanged at 6,418 and Italy’s FTSE MIB up 8 points at 23,358, according to GI data.

Data released on Tuesday includes euro zone retail sales for September, Dutch inflation data for October and French trade balance figures for September.

Revenues come from Bayer, Henkel, Munich Re, Deutsche Post DHL, Ferragamo, Banco BPM, Aveva, AB Foods and Persimmon.

—Holly Ellyatt

About Marilyn Perkins

Check Also

Why Latvia offers the best offer on the Christmas market: Riga tops the list for the best offers

Why Latvia has the best Christmas market deal: Capital Riga tops the list of best …