Entreprise

European Market: Investors Follow Ukraine

London — European stocks moved higher on Monday as investors continue to monitor the progress of the war between Ukraine and Russia.

The Pan-European STOXX 600 led the rise as early trading increased 0.5% and insurance stocks rose 1.3%, with almost all sectors and major exchanges entering the positive territory.

The world market has been closely watching what happened in Ukraine for more than a month after Russia began its invasion of Ukraine.

Ukrainian President Volodymyr Zelensky reiterated that his country is ready to discuss the adoption of a neutral position as part of a peace agreement with Russia. Meanwhile, US Secretary of State Antony Blinken said Russian President Vladimir Putin was “in power.”

Read our live update on the Ukraine-Russia War here

US equity futures fell slightly on Sunday evening as investors look forward to a series of major economic reports and continue to pay attention to the Fed’s planned rate hikes.

Major data releases in the United States this week include job and worker turnover surveys, and ADP will also release private salary data on Friday prior to a carefully monitored monthly job report.

Overnight in Asia, stocks of Chinese tech companies rose most of the time in the Asia-Pacific mixed trade on Monday, dropping oil prices by more than 2%.

Graham Secker, chief European equity strategist at Morgan Stanley, said European equities were on the rise on Monday, but the best thing investors can expect from CNBC in the near future is flat equity valuations. He said that.

“Multiples look fine, but they don’t look particularly cheap. They’re basically in line with the very long-term average, and coupled with the Fed’s rate hikes, the very tricky environment we’re looking at right now. Given that, it’s hard to see the multiples go up. “

Morgan Stanley had predicted 10% profit growth for European companies in 2022, but banks recently reduced this to just 3% in light of changing outlook.

In CNBC’s Squawk Box Europe, Mr. Secker said, “I think there is growing concern about growth as the earnings revision has just begun to turn negative. I think it’s potentially on the top line, but especially. I think it’s about corporate margins. ” on Monday.

“There is a lot of cost pressure on a company’s system. Given some of these building pressures on consumers due to high inflation, a question mark as to whether pricing power is sufficient for a company to raise prices. Will increase. General. “

Stock Selection and Investment Trends from CNBC Pro:

The Atlantic Council Global Energy Forum will be held on Monday, and CNBC will host a panel with key industry leaders, including the Ministers of Energy of Bulgaria and Albania, and Eni’s CEO Claudio Descardi.

Did you enjoy this article?
Exclusive stock selection, investment ideas, CNBC Global Live Stream
Apply CNBC Pro
Start your free trial now

..

About the author

Funviralpark

Leave a Comment