European markets open lower with a view to rate hike
The European STOXX 600 index opened lower on Monday, with all sectors in the red or flat.
Technology-driven losses were down 1.6% and travel was down 1.2%.
This week’s focus is firmly on a series of monetary policy decisions by central banks, with the Federal Reserve announcing its next rate hike move on Wednesday, followed by the Bank of England and the European Central Bank on Thursday.
Last week’s STOXX 600 index.
Oil to approach $100 a barrel by late 2023, RBC Capital Markets predicts
Oil prices could approach $100 a barrel in the second half, according to RBC Capital Markets’ Michael Tran.
“The bottom line is that China will buy a lot of oil in the coming months,” he said.
Brent crude futures ended up trading flat at $86.85 a barrel, while US West Texas Central futures rose 0.09% to $79.75 a barrel.
Investors and OPEC+ are also watching whether the EU’s embargo on Russian petroleum products, which starts this Sunday, will lead to major disruptions. The oil cartels are not expected to make any real changes to quotas or production guidance at upcoming meetings, Tran predicts.
— Lee Yingxiang
Adani Enterprises Rise, Group Affiliates Continue Plunge
shares of Adani Enterprise The company’s chief financial officer (CFO) expressed confidence in an additional public offering due to complete on Jan. 31, so the stock rose 10% after seeing sharp losses in the previous session.
The stock is still down more than 20% in the first month of the year.
CNBC Pro: Goldman Sachs names tech stocks with ‘strong runway’ for growth — yielding nearly 70% gains
According to Goldman Sachs, one corner of technology could see “limited appetite” from the market. But investment banks are optimistic.
It lists stocks with near-term opportunity as well as “aggressive picks” that it says can beat peers as the economy recovers.
CNBC Pro subscribers can read more here.
— Tan Weizhen
European Market: Click here for the opening call
European markets are expected to underperform Monday’s opening day as investors focus on the next US Federal Reserve meeting which begins on Tuesday. The two-day meeting concludes with the announcement of the central bank’s latest interest rate decision.
British FTSE100 The index is expected to open 13 points lower at 7,745 for Germany. Dax 22 points lower than France’s 15,122 CAC At 7,083, down 9 points, Italy FTSE MIB IG’s data show a 17-point drop to 26,339 points.
Revenue comes from Ryanair and Philips. Spain releases his January provisional inflation data.
— Holly Eliyat