Biggest movers: Phoenix Group up 8%, British Land up 5%
Shares of British insurer Phoenix Group jumped more than 8% in early trade after the company increased its full-year cash generation forecast after completing the merger of two of its brands.
British Land shares climbed more than 5% after projecting annual rental value growth will come in at the top end of its forecast range.
– Elliot Smith
A positive open in Europe
European markets opened in positive territory on Monday.
The pan-European Stoxx 600 index was up 0.5% in early trade, with travel and leisure stocks adding 1.4% to lead gains as most sectors advanced. Food and beverage stocks slid 0.3% lower.
CNBC Pro: The global EV market is set to hit a milestone in 2024. These battery stocks will stand out, HSBC says
The electric vehicle market is expected to hit a milestone next year, according to HSBC.
Its global penetration rate could hit the “important 20% threshold” next year — “heralding entry to the mass market” for the first time, it said.
“This has major implications for battery makers,” the bank wrote in a Nov. 1 note.
It named buy-rated battery stocks.
— Weizhen Tan
CNBC Pro: ‘We are bullish on India’: As Diwali begins, these 3 stocks are set to outperform, analysts say
A strong economy, growing population and booming stock market have put India on the map for many investors this year.
Now, as the Diwali festive season gets underway in the South Asian country, several sectors — and stocks — are expected to do well, according to Indian equity brokerage Kotak Securities.
“As the broader market valuations are rich, opportunities arising from [a] market correction can be used to add quality stocks (with attractive valuations) from a long-term investment perspective,” analysts from the brokerage firm wrote in a recent note.
— Amala Balakrishner
European markets: Here are the opening calls
European markets are expected to open in positive territory Monday.
The U.K.’s FTSE 100 index is expected to open 6 points higher at 7,364, Germany’s DAX up 5 points at 15,238, France’s CAC up 10 points at 7,053 and Italy’s FTSE MIB up 53 points at 28,431, according to data from IG.
Earnings are set to come from Porsche. There are no major data releases.
— Holly Ellyatt