This is CNBC’s live blog covering European markets.
European markets are heading for a flat to lower open ahead of the European Central Bank’s policy meeting Thursday.
The central bank is convening amid falling inflation and a slight recovery in economic activity but it is expected to hold rates at a record 4%. Market expectations are that a rate cut will come in June.
Elsewhere, Asia stocks rose overnight after comments from U.S. Federal Reserve Chair Jerome Powell on Wednesday. He reiterated his stance that while the central bank could start cutting rates, it was “not immediately ready.”
U.S. stock futures inched down Thursday after the major averages posted their first winning session in three days.
CNBC Pro: How can foreign investors cash in on India’s growth? Here are the ETFs and stocks to buy
India’s economic prospects are shining bright, attracting global investors eager to capitalize on the country’s immense growth potential.
The International Monetary Fund expects India’s real gross domestic product (GDP) to expand by 6.5% in 2024.
However, tapping into these opportunities as a foreign investor is not as straightforward as buying shares listed on the Indian stock exchanges. Limits on foreign ownership, complex tax implications, and corporate governance concerns create barriers.
CNBC Pro subscribers can read more about how foreign investors can buy Indian stocks.
— Ganesh Rao
CNBC Pro: Analysts love these value stocks, giving 4 more than 30% upside
Many growth stocks are becoming expensive, prompting 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 a share and puts us at 21X earnings – its pricey, plain, and simple,” said Brian Szytel, senior managing director of The Bahnsen Group, in late February. The S&P 500 closed around 5,078 on Tuesday.
He said he wouldn’t own the index at that level. “I would however, own parts of the market shift to more value-oriented names and believe that rotation that started in 2022 from growth to value will resume. This is a time to earn ‘carry’, income, and dividends,” he said.
Those interested in value stocks can consider the following from CNBC Pro’s screen of the Vanguard Value ETF. All have 20% or more upside and a buy rating of at least 50%, with the screen showing their current and 5-year average dividend yields.
CNBC Pro subscribers can read more here.
— Weizhen Tan
European markets: Here are the opening calls
European markets are set to open flat to lower Thursday.
The U.K.’s FTSE 100 index is expected to open 3 points higher at 7,652, Germany’s DAX down 13 points at 17,698, France’s CAC 12 points lower at 7,943 and Italy’s FTSE MIB down 75 points at 33,312, according to data from IG.
The European Central Bank will announce its latest monetary policy Thursday. On the earnings front, Continental, Lufthansa, ITV, Admiral Group and Kier are set to announce results.
— Holly Ellyatt