Traders work in front of a board displaying the chart of Germany’s share index DAX at the stock exchange in Frankfurt am Main, western Germany, on September 24, 2024.
This is CNBC's live blog covering European markets.
European stocks were little changed on Monday, with regional markets searching for direction after a choppy week last week.
The pan-European Stoxx 600 was last little changed, dipping by 0.02% at 9:43 a.m. London time after a mixed start to the day.
The region's major indexes had closed higher on Friday as investors assessed U.K. growth figures and looked ahead to the much-anticipated Chinese stimulus announcement over the weekend.
China's Minister of Finance Lan Fo'an in a press briefing on Saturday hinted at more debt issuance amid efforts to shore up the economy, stating the government had a "rather large" space to increase the deficit.
Asia-Pacific markets mostly rose on Monday, with mainland China's CSI 300 ending the day 1.9% higher after a choppy session as investors assessed the briefing.
Meanwhile, U.S. stock futures were little changed in overnight trading Sunday as investors awaited the next batch of key corporate earnings; Bank of America, Goldman Sachs and Johnson & Johnson report their latest results on Tuesday before the market opens, while Morgan Stanley and United Airlines are set to release results Wednesday.
Money Report
— CNBC's Anniek Bao and Yun Li contributed to this markets summary.
Correction: This blog has been updated to reflect that no major earnings or data releases are due Monday.
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Luxury stocks pull back as investors weigh China stimulus plans
European luxury stocks pulled back Monday as investors assessed the latest hints about stimulus measures out of China.
Shares of Gucci-owner Kering were down 3.6% by 9:35 a.m. London time, while LVMH fell 2.74%, and shares in Burberry and Christian Dior pulled back by around 2%.
Over the weekend, China's Minister of Finance Lan Fo'an hinted at more debt issuance as the country aims to shore up its economy. He also signaled that more stimulus could be on the way.
Many investors and analysts had been hoping for a new major stimulus package to be unveiled at the briefing, however.
"The stimulus plan has again underwhelmed. There were hopes for a lot more clarity on the extent of the support for consumers in particular," Susannah Streeter, head of money and markets at Hargreaves Lansdown, told CNBC on Monday.
China's property market crisis has impacted wealth perceptions and resulted in more cautious spending, she explained.
"It means many shoppers have held back from splashing out expensive new handbags or jewelry. Until there is more detail on targeted stimulus measures, gains are likely to be held back."
— Sophie Kiderlin
Betting companies Entain, Flutter tumble over reports of potential tax increases
Betting companies Entain and Flutter tumbled in Europe on Monday after a media report last week indicated that the U.K. government could increase taxes on online casinos and bookmakers.
The Guardian on Friday reported that some of these taxes could double, and could come as soon as the U.K. budget is announced later this month.
Shares in Entain were last down 14.3%, while European-listed shares in Flutter were last down 7.6%.
— Sophie Kiderlin
China's CSI 300 ends higher after choppy trading as investors digest stimulus plan
SINGAPORE — Asia-Pacific markets mostly rose Monday, as investors assessed China's weekend press briefing and awaited a slew of economic data this week from the region.
Mainland China's CSI 300 added 1.9% to close at 3,691.3, following a choppy trading session. Hong Kong's Hang Seng index was down 0.9% as of its final hour of trade.
Australia's S&P/ASX 200 gained 0.47% to end at 8,252.8. Taiwan markets edged 0.32% higher to end at 22,975.29.
South Korea's blue-chip index Kospi gained over 1% to finish at 2,623.29, while the small-cap Kosdaq index ended nearly flat at 770.26.
— Anniek Bao
European markets flat at the open
European stocks were mixed as markets opened on Monday, with regional markets lacking direction after a choppy week last week.
The pan-European Stoxx 600 was little changed as markets opened, last down 0.02% at 8:15 a.m. London time.
Amid range-bound trade, travel and leisure stocks were the outlier, down 1.7%.
— Sophie Kiderlin
Goldman Sachs just refreshed its conviction lists of global stocks, giving 3 over 20% upside
Goldman Sachs has refreshed its lists of top global stock picks for October, adding some and removing others.
The stocks are featured in the investment bank's "Conviction List - Directors' Cut," which it says offers a "curated and active" list of buy-rated stocks.
CNBC Pro subscribers can read more on three of the latest additions to the list with more than 20% upside potential, according to Goldman's analysts.
— Amala Balakrishner
Goldman Sachs raises China GDP growth forecasts amid stimulus moves
Goldman Sachs raised its 2024 real GDP forecast for China to 4.9% from the previous 4.7%, as it evaluates the "more forceful and coordinated" stimulus policies coming out from the two high-level press conferences last week.
Chinese policymakers have "made a turn on cyclical policy management and increased their focus on the economy," it said in a research note on Oct. 13.
The company attributed the upward revision to the Ministry of Finance suggesting that 2.3 trillion yuan ($325.48 billion) of local government special bond funds will be used in the fourth quarter; and the National Development and Reform Commission stating it would pre-approve the 200 billion yuan of next year's projects by end-October.
"We estimate easing measures announced and suggested so far translate into 0.4 pp upside surprise to our previous projection," Goldman Sachs said, while lifting the country's 2025 real GDP growth forecast to 4.7% from 4.3%.
However, it noted its structural view on China's growth has not changed with persisting growth challenges, including deteriorating demographics, a multi-year debt deleveraging trend and global supply chain risks.
— Anniek Bao
CNBC Pro: Is it time to invest in China? Two pros share their views
Chinese markets are back in the spotlight after a rough start to the week.
China's blue-chip CSI 300 index skyrocketed over 10% when it opened Tuesday amid expectations of further measures to boost the economy after the seven-day Golden Week break. The rally cooled off, however, after China's National Development and Reform Commission held off on announcing any new major stimulus plans, underwhelming investors.
As investors consider whether — and how — to invest in China, two experts share their views on the market and stocks they like right now.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
European markets: Here are the opening calls
European markets are expected to open in mixed territory Monday.
The U.K.'s FTSE 100 index is expected to open 12 points lower at 8,240, Germany's DAX down 7 points at 19,351, France's CAC down 12 points at 7,568 and Italy's FTSE MIB up 6 points at 34,144, according to data from IG.
There are no major earnings or data releases Monday.
— Holly Ellyatt
