Tracking global negativity ahead of key inflation figures

The Stoxx 600 is at a one-week low

The European blue chip index briefly hit a one-week low on Monday morning, falling more than 0.8% before recovering some of its losses.

Concerns about economic growth, in the face of monetary tightening and the war in Ukraine, continued to dampen investor sentiment.

Shares on the way: DS Smith rose 8%, ams-Osram fell 9%

British packaging company DS Smith saw its shares jump more than 8% in early trading after projecting annual performance above expectations on the back of robust revenue growth and cost-cutting measures.

At the bottom of the Stoxx 600, ams-Osram shares fell more than 9% after announcing that its CFO plans to step down from April 2023.

Bank of England announces liquidity measures to help ease pension fund problems

The Bank of England is ready to introduce additional liquidity measures as it seeks to ensure financial stability in the UK

It comes after the central bank announced on September 28 a two-week emergency bond-buying program for long-dated UK government bonds. It was designed to protect liability-driven investment funds (LDI) from imminent collapse.

Now the BOE has announced further measures to ensure an “orderly end” to its buying scheme on October 14, including increasing the size of its daily auctions to make room for gilt purchases ahead of Friday’s deadline.

read more here.

CNBC Pro: Goldman says these ‘cheap’ global stocks are poised for short- and long-term gains

As Europe grapples with skyrocketing electricity and gas bills, Goldman Sachs says global companies that focus on energy efficiency will fare better.

“We believe energy efficiency companies may outperform in the near term, focusing on energy efficiency to address the current energy crisis that followed the Russian invasion of Ukraine,” the analysts wrote in an Oct. 3 note.

“[And] in the long term with a focus on energy efficiency to tackle climate change and achieve the ambitious ‘net zero’ goals.”

CNBC Pro subscribers can read more here.

— Weizhen Tan

Here are the opening calls

Britain’s FTSE 100 seen around 51 points lower at 6,940, Germany’s DAX is set to slide by around 122 points to 12,151 and France’s CAC 40 expected to fall about 61 points to 5,806.

CNBC Pro: Porsche is now more valuable than VW: Here’s what the pros think about the automakers

A week after its debut on the stock market, luxury carmaker Porsche’s market capitalization overtook its former parent Volkswagen Group.

Some fund managers are already comparing the German company with Teslathe world’s largest electric car maker, says Porsche’s electrification plan for its hot-selling Macan EV is expected to be an immediate success.

Compared to parent company VW, which produces almost 10 million cars annually, Porsche makes just over 300,000 cars, but accounts for a quarter of Volkswagen’s profits.

CNBC Pro subscribers can read more here.

– Ganesh Rao

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