This is CNBC’s live blog covering European markets.
European markets are heading for a higher open Thursday ahead of a busy day of earnings and data in the region.
Preliminary services and manufacturing purchasing managers’ index data from the euro zone in February is due Thursday, and will serve as a gauge of business activity in the region.
Meanwhile, earnings are due from Nestle, Zurich Insurance, Iberdrola, Telefonica, Lloyds Banking Group, Rolls-Royce, WPP, Anglo American and Hargreaves Lansdown.
Overnight, Japan’s Nikkei hit a record high on Thursday, with investors shrugging off dismal business activity data from the country, while other Asia-Pacific markets traded in the green. S&P 500 futures rose in overnight trading Wednesday, boosted by a jump in Nvidia shares.
CNBC Pro: JPMorgan reveals its favorite European stocks — giving one over 93% upside
JP Morgan has uncovered several top European stocks offering substantial upside potential – as well as some ‘unattractive’ names right now.
According to the investment bank, U.S. stocks are “ahead of international,” growth stocks have been “outperforming” value names and large-cap stocks are “again beating” small ones.
CNBC Pro subscribers can read more here on the bank’s top and least preferred stocks.
— Amala Balakrishner
CNBC Pro: Where do Treasury yields go from here? Morgan Stanley’s Jim Caron weighs in
Treasury yields shot up last year, and investors flocked to allocating to cash which have yielded around 5% or even more.
Those yields have since dropped, and Wall Street are widely expecting them to go fall even further, leading investors to exit cash and get into other income-generating assets. But recent stronger-than-expected economic data on consumer and producer prices has raised the possibility that the U.S. Federal Reserve will cut rates later rather than sooner.
CNBC Pro subscribers can read more here about where these yields may be headed, according to Morgan Stanley Investment Management’s Jim Caron. He also outlined three scenarios for the 10-year yield, explaining how each could affect stocks.
— Weizhen Tan
European markets: Here are the opening calls
European markets are set to open higher Thursday.
The U.K.’s FTSE 100 index is expected to open 23 points higher at 7,665, Germany’s DAX up 96 points at 17,205, France’s CAC 55 points higher at 7,863 and Italy’s FTSE MIB up 222 points at 32,289, according to data from IG.
Earnings are due from Nestle, Zurich Insurance, Iberdrola, Telefonica, Lloyds Banking Group, Rolls-Royce, WPP, Anglo American and Hargreaves Lansdown. Preliminary services and manufacturing purchasing managers’ index data from the euro zone in February is due Thursday.
— Holly Ellyatt
