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City of London skyline view looking over the River Thames and Waterloo Bridge at sunset on 10th February 2024 in London, United Kingdom.
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European markets were on track to rise as a new trading week kicks off Monday, with investors looking to shake off last week's negative sentiment and attention turning to regional inflation data.
The U.K.'s FTSE 100 was last on track to start the day 15 points higher at 8,084, Germany's DAX was set to add 56 points to 19,278 and the French CAC 40 was due to rise 23 points to around 7,299. Italy's FTSE MIB was also on track to open higher, adding 158 points to 34,060.
Markets had closed lower on Friday, with the pan-European Stoxx 600 recoding its fourth consecutive weekly decline.
Investors this week will be looking to several key regional data points, including the latest inflation data out of the U.K. on Wednesday. The figures come after Friday's U.K. gross domestic product reading, which came in at 0.1% in the third quarter, falling short of expectations.
A final reading of the euro zone consumer price index is also due this week. Meanwhile, a slew of purchasing managers' index reports from across the region are slated for Friday.
Before then, several central bank policymakers, including European Central Bank President Christine Lagarde, are set to give remarks, which investors will be parsing through for hints about whether the ECB will announce another interest rate cut when it meets in December.
Overnight, Asia-Pacific stocks mostly rose to start the week, and U.S. stock futures were little changed. Attention stateside will this week turn to earnings from tech giant Nvidia, with investors especially looking for guidance about the company's Blackwell AI chips.
German exports rise 0.5% in third quarter
German exports rose 0.5% in the third quarter compared to the same period a year earlier, the country's statistics office Destatis said Monday, coming to 384 billion euros ($405 billion).
The value of goods sent to countries in the European Union and euro zone fell by 1% and 1.5% respectively in the three months to the end of September, while exports to countries outside the European Union rose 2.2%.
The U.S. was the most important trade partner outside the EU, with exports rising by 3.8% to 41.4 billion euros in the third quarter. Exports to China, meanwhile, fell 9.4% to 21.8 billion euros.
— Sophie Kiderlin
European stocks set to rise at market open
European stocks were last set to rise at the market open on Monday.
The U.K.'s FTSE 100 was last on track to start the day 15 points higher at 8,084, Germany's DAX was set to add 56 points to 19,278 and the French CAC 40 was due to rise 23 points to around 7,299. Italy's FTSE MIB was also on track to open higher, adding 158 points to 34,060.
— Sophie Kiderlin
Samsung shares climb more than 7% after surprise $7 billion buyback plan
Shares of Samsung Electronics jumped on Monday after the company unveiled a surprise plan to buy back about 10 trillion South Korean won ($7.19 billion) worth of its own stock over the next 12 months.
The South Korean tech giant's stock rose more than 7% in Seoul, after shares had already surged 7.21% on Friday, following news that the company reached a preliminary agreement with its largest workers union, which went on strike in July.
Samsung last bought back shares in November 2017, according to data maintained by LSEG.
In a regulatory filing, the company said that 3 trillion won of shares will be initially bought back in the next three months and canceled.
Read the full story here.
— Lim Hui Jie
CNBC Pro: Morningstar names cheap stocks in a sector that 'deserves a place in everybody's portfolio'
Top Morningstar strategist David Sekera says one sector is trading at a 5% discount and is set to "do well, especially if we get into more of a reflationary environment later in 2025."
Sekara also shared his outlook for U.S. markets in the lead up to 2025.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
English (US)