This is CNBC’s live blog covering European markets.
European markets are heading for a lower open Thursday as global markets focus on economic data from the region, and the latest signals from the U.S. Federal Reserve on inflation and interest rates.
On Wednesday, minutes from the Fed’s last meeting in December were released, showing the central bank remained committed to higher interest rates for “some time.” the minutes prompted U.S. markets to give up earlier gains in the trading session and U.S. stock futures were flat overnight.
European markets closed higher on Wednesday as inflation data from France and Germany indicated that consumer price increases across the euro zone are slowing.
Oil prices bounce after two days of declines on Chinese pent-up travel demand
Oil prices climbed more than 1% after seeing two days of declines, as China’s reopening added optimism for an economic rebound and support in demand.
Brent crude futures rose 1.08% to $78.68 a barrel, while the U.S. West Texas Intermediate futures gained 1.19% to $73.71 a barrel.
Investors appeared to have shrugged off concerns of a potential global recession dogged by shaky economic growth prospects of U.S. and China, leading to a more than 9% slump in oil prices in the past two days.
– Lee Ying Shan
CNBC Pro: Citi is bearish on lithium — at least for the near future. But it’s giving some stocks big upside
Citi is bearish on lithium — at least for the near future. Lithium is a critical component of electric vehicle batteries.
But the bank remains bullish on its long-term outlook, and names three stocks to watch.
CNBC Pro subscribers can read more here.
— Weizhen Tan
CNBC Pro: Bank of America sees 50% upside in this global fertilizer stock due to a worldwide shortage
Bank of America sees a 50% upside in the shares of a global fertilizer maker due to a worldwide shortage.
The Wall Street bank says the company commands a 55% profit margin as it is insulated from the rise in natural gas prices.
CNBC Pro subscribers can read more here.
— Ganesh Rao
European markets: Here are the opening calls
European markets are heading for a lower open Thursday as investors gauge the latest inflation data from Europe and digest the latest minutes from the U.S. Federal Reserve.
The U.K.’s FTSE 100 index is expected to open 13 points lower at 7,570, Germany’s DAX 43 points lower at 14,446, France’s CAC down 25 points at 6,755 and Italy’s FTSE MIB down 99 points at 24,801, according to data from IG.
Data releases Thursday include euro zone producer prices for November and preliminary Italian inflation data for December. Germany’s export data for November is also set to be released. Earnings will come from Greggs.
— Holly Ellyatt
