This is CNBC’s live blog covering the European markets.
European markets are expected to start the new trading week in positive territory on Monday, with regional investors awaiting preliminary consumer confidence data from the euro zone for January.
Elsewhere overnight, Asia-Pacific markets were mixed on Monday as China kept its key loan rates unchanged, as expected. U.S. stock futures were little changed Sunday evening, as investors looked to build on a new high the S&P 500 has hit since Friday.
CNBC Pro: Berenberg says stocks of the four anti-obesity drugs could rise – giving them a 44% upside
The anti-obesity drug market is expected to remain in focus this year after a booming 2023 for weight-loss drug makers Novo Nordisk and Eli Lilly, according to Bernberg.
The German-headquartered investment bank expects that the combination of new clinical data and the expiration of Novo’s patent for the active ingredient in first-generation GLP-1 drugs will unleash new opportunities for several generic drug manufacturers in Europe. GLP-1 medications encourage the production of hormones that cause weight loss through decreased appetite.
Berenberg analysts have named 4 generic drug makers stocks that are set to benefit from these patent expirations.
CNBC Pro subscribers can read more here.
– Ganesh Rao
CNBC Pro: Morgan Stanley calls its favorite biopharma stocks ‘strength in the face of uncertain macroeconomics’ — and gives 119% upside
The biopharma sector is expected to provide a safe haven from macroeconomic and earnings concerns ahead of European companies’ quarterly results, according to Morgan Stanley.
The Wall Street bank said European biopharma share prices should be supported in the near term due to their “loose valuations, a backdrop of difficult macro conditions and cyclical earnings risks.”
The investment bank has named 8 stocks with a ‘buy’ rating in the sector, giving one stock a 119% potential. CNBC Pro subscribers can read more here.
– Ganesh Rao
European Markets: Below are the opening calls
European markets are scheduled to open in positive territory on Monday.
The UK’s FTSE 100 is expected to open 26 points higher at 7,488, Germany’s DAX is up 131 points at 16,680, France’s CAC is up 59 points at 7,427, and Italy’s FTSE MIB is up 264 points at 30,592, according to data from IG.
Eurozone consumer confidence data is scheduled for January.
– Holly Eliatt
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