European Markets: Here are the opening calls
European markets opened mixed on Friday, according to IG data.
Germany’s DAX index opened down 33 points at 19,416 points; France’s CAC 40 index opened down 11 points at 7,497 points. Britain’s FTSE 100 is expected to have a cautiously optimistic start, rising 5 points to 8,279 points, while Italy’s MIB index rose 20 points to 34,544 points.
—Jenny Reed
CNBC Pro: Itau BBA analysts say shorting Amazon and Apple as they hit all-time highs
As corporate giants report their quarterly financials in the coming days, one investment bank is recommending investors short two major technology stocks.
CNBC Pro subscribers can learn more about why analysts are telling clients to short Apple and Amazon here .
— Ganesh Rao
Central bank keeps medium-term lending rate unchanged
The central bank keeps the bank’s medium-term lending rate unchanged at 2% According to a statement from the bank on Friday.
The People’s Bank of China issued 700 billion yuan ($98.36 billion) worth of one-year medium-term lending facility (MLF) loans to financial institutions at an interest rate of 2% to “maintain sufficient liquidity in the banking system.”
The central bank said that the bid interest rate for Friday’s operation was 1.9% to 2.3%, and the current MLF loan balance is 6.789 billion yuan.
— Annie Bao
CNBC Pro: Morgan Stanley says the power industry is “transforming” and global stocks will rise 40%
Morgan Stanley said that the power industry is undergoing a transformation, and many power producers, grid operators and utility companies will benefit from it.
The investment bank analyst outlined in a report on October 23: “Since 2023, global electricity demand is booming and prices are constantly changing. The cost of producing clean electricity has fallen by a third, especially in Asia. “
They added: “Global power markets are surprising on multiple fronts, and investors are exploring a new normal across the power value chain.”
Morgan Stanley analysts named three overweight global power industry stocks that they believe have potential upside of more than 40%.
CNBC Pro subscribers can read more here.
— Amala Balakrishna
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