European stocks open to close, data, earnings and market moves

Vivendi is keen to talk to the Italian government about the One Network plan

Telecom Italia’s lead investor, Vivendi, wants to start talks with the newly elected Italian government to discuss plans to create a national broadband company, according to Sources close to the cluster.

Negotiations for the sale of Telecom Italia’s landline network to state lender Cassa Depositi e Prestiti have been underway for months.

The previous government had sponsored a plan to combine Telecom Italia’s fixed network assets with those of Open Fiber, a smaller broadband operator, to create a state-controlled national network.

– Hannah Ward Glinton

European markets open lower

European markets opened broadly lower on Monday with pan-European Stokes 600 It fell 0.45% before paring losses to trade 0.2% lower.

Banking, retail, household goods, and healthcare were among the sectors traded in negative territory.

China’s October exports recorded the first year-on-year decline since May 2020

China’s exports in US dollars fell 0.3% in October from the previous year, significantly missing expectations for a 4.3% increase in a Reuters poll and a sharp decline from 5.7% growth in September.

Imports also fell 0.7%, missing Expectations are for a 0.1% gain from the previous year after a 0.3% rise in September.

The drop in US dollar terms last month marks the first year-over-year decline since May 2020, according to Refinitiv Eikon data.

The yuan fell nearly 3% against the US dollar in October, according to Refinitiv Icon.

Customs data released on Monday showed exports in yuan rose 7% and imports 6.8%.

– Evelyn Cheng

CNBC Pro: Morgan Stanley says global battery material stock could rise more than 80%

Morgan Stanley expects shares in the Asian battery materials maker to rise 85% by the end of next year.

This under-the-radar battery material resource for Teslawhich already has triple-digit revenue growth, plans to expand manufacturing in the United States.

Even JP Morgan analysts who use a “conservative valuation approach” expect the stock to rise 25% within a year.

CNBC Pro subscribers can read more here.

– Ganesh Rao

Goldman Sachs reopens after months despite talk of preparations

Speculation that China will reopen sent markets up last week, but Goldman Sachs economists say it’s still “months away”.

“Actual reopening is still months away as vaccination rates for the elderly remain low and case fatality rates appear to be high among the unvaccinated based on official data for Hong Kong,” the economists led by Hui Shan said in a note.

They added that the government may be working on an exit strategy, and that the company expects to reopen the country in the second quarter of 2023.

– Jie Lee

CNBC Pro: There are still opportunities in tech — here’s how to trade them: Analysts

Tech companies are facing a double whammy of bad news, with Disappointing earnings The continued interest rate hike by the Federal Reserve is weighing on the sector.

But with heavy technology Nasdaq Down more than 30% year-to-date, analysts say there are some bright spots that could present opportunities for investors.

Here are some of their top picks, including one stock with an average rise of over 50%.

CNBC Pro subscribers can read more here.

– Weezin Tan

European markets: here are the opening calls

European markets are looking forward to a positive start to trading on Wednesday as investors prepare for the latest monetary policy decision from the US Federal Reserve.

Many analysts expect the meeting to result in a 75 basis point rate hike. Investors will also be watching the central bank’s statement and Fed Chair Jerome Powell’s press conference for signs of a slowing pace of tightening.

London’s FTSE is expected to rise 21 points at 7115, Germany’s DAX rise 84 points at 13,422, France’s CAC is up 36 points at 6364, and Italy’s FTSE MIB rise 119 points at 22,771, according to data from IG.

Profits will come from Next, Aston Martin Lagonda, GSK, Metro and Maersk. German unemployment data for October will also be released.

– Holly Eliat

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