This is CNBC’s live blog covering European markets.
European stocks are set to open in positive territory on Monday, with regional markets still seeing a boost from last week’s U.S. inflation figures, which showed prices had risen less than expected in October.
Nonetheless, U.S. stock futures traded lower early Monday morning despite the S&P 500 posting its biggest weekly gain in almost five months last week on the back of easing inflation data.
Investors cheered the inflation reading, betting that the Federal Reserve would soon slow its aggressive tightening campaign.
Meanwhile, Hong Kong’s Hang Seng popped as Japan’s benchmark index was dragged lower by tech giant SoftBank Group in a mixed Asia-Pacific session after closing the previous week with a big rally.
Bitcoin falls below $16,000 to lowest since Nov. 2020 as FTX saga continues
Bitcoin fell as low as $15,904.44 in Asia’s morning, according to Coin Metrics, marking its lowest levels in around two years. Bitcoin last hovered around similar levels in Nov. 16, 2020, when it reached $15,860.81.
Ether also fell, reaching as low as $1,170.34, as more details emerge around crypto exchange FTX’s operations.
Crypto investors have lost around $2 trillion since its peak a year ago.
— Abigail Ng
CNBC Pro: One retail stock just hit an all-time high — and Bank of America thinks it’s got further to go
This year’s bear market has wiped trillions of dollars in market cap off the stock market, but a few stocks have outperformed significantly during this period.
Bank of America identified three retail stocks that bucked the trend, and says one remains a buy.
Pro subscribers can read more here.
— Zavier Ong
CNBC Pro: UBS says disinflation is on the way — and shares 8 global stocks to play it
Swiss bank UBS has forecasted a “sharp” disinflation in 2023.
It said weak growth alongside “mechanical” indicators, such as easing supply chain bottlenecks and rising goods inventories, would see prices fall next year.
The investment bank screened for stocks that would benefit from such an environment.
CNBC Pro subscribers can read more about their forecasts, and eight stocks we’ve highlighted from their list.
— Ganesh Rao
European markets: Here are the opening calls
European markets are set to open in positive territory on Monday with global markets still seeing a boost from last week’s U.S. inflation figures, which showed prices had risen less than expected in October.
The U.K.’s FTSE index is expected to open 13 points higher at 7,338, Germany’s DAX up 45 points at 14,283, France’s CAC up 30 points at 6,627 and Italy’s FTSE MIB down 136 points at 24,459, according to data from IG.
Data releases include euro zone industrial production figures for September. There are no major earnings.
— Holly Ellyatt
