European markets expected to remain sluggish ahead of ECB rate decision – NBC New York
by Brian Neeley March 7, 2024 in Market
European markets expected to remain sluggish ahead of ECB rate decision – NBC New York
This is CNBC’s live blog covering European markets.
European markets are moving from flat to a lower open ahead of the European Central Bank’s policy meeting on Thursday.
The central bank is meeting amid a decline in inflation and a modest improvement in economic activity, but is expected to keep rates at a record 4%. The market expects rates to be cut in June.
Elsewhere, shares in Asia rose overnight following comments from US Federal Reserve Chairman Jerome Powell on Wednesday. He reiterated his stance that although the central bank could start cutting rates, it was “not ready immediately.”
US stock futures fell on Thursday after the major averages recorded their first winning session in three days.
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CNBC Pro: How can foreign investors take advantage of India’s growth? Here Are the ETFs and Stocks to Buy
India’s economic prospects are bright, attracting global investors eager to take advantage of the country’s immense growth potential.
The International Monetary Fund expects India’s real gross domestic product (GDP) to grow by 6.5% in 2024.
However, taking advantage of these opportunities as a foreign investor is not as easy as buying shares listed on Indian stock exchanges. Limits on foreign ownership, complex tax implications and corporate governance concerns create obstacles.
CNBC Pro subscribers can read more about how foreign investors can buy Indian stocks.
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CNBC Pro: Analysts love these value stocks, giving 4 gains of more than 30%
Many growth stocks are becoming expensive, causing some investors to turn to value stocks.
“The S&P 500 at 5,075 with expected earnings growth of 10% for 2024 gives us $243 per share and puts us at 21X earnings – that’s expensive, plain and simple,” said Brian Szytel, senior managing director at The Bahnsen Group. Said late. february. The S&P 500 closed around 5,078 on Tuesday.
He said he would not own the index at that level. “However, I would like to shift parts of the market to more value-oriented names and believe that the rotation that started from growth to value will resume in 2022. This is a time for ‘carry’, earning income and dividends, ” They said. ,
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European markets: here are the early calls
European markets are set to open flat to lower on Thursday.
According to IG data, the UK’s FTSE 100 index is expected to open up 3 points at 7,652, Germany’s DAX down 13 points at 17,698, France’s CAC down 12 points at 7,943 and Italy’s FTSE MIB is expected to open 75 points down at 33,312.
The European Central Bank will announce its latest monetary policy on Thursday. On the earnings front, Continental, Lufthansa, ITV, Admiral Group and Kier are set to declare results.
– Holi Elite
Source: www.nbcnewyork.com
