Europe markets higher with media stocks leading gains; Britain’s leadership contest is closing in on the deadline
Education group Pearson up 8% after “unprecedented” growth in English language learning
Shares in Pearson rose 8% on Monday after the company reported 7% growth in underlying sales over the past nine months, beating market expectations.
The education company said an “outstanding” performance in English language education helped deliver the results, with English courses reporting 28% growth.
Higher education decreased by 4%, which was in line with the company’s expectations.
—Hannah Ward-Glenton
UK 1[ads1]0-year gilt yields fall as UK gets new PM
British 10-year gilt yields are trading at their lowest level since the mini-budget, which sent markets reeling on 23 September.
The move comes as former finance minister Rishi Sunak looks set to become the new prime minister.
10-year yields traded nearly 21 basis points lower at 3.846% around 9 London time.
European markets: Here are the opening calls
European indices are expected to open higher this morning, with Britain’s FTSE up 23 points to 6,992, Germany’s DAX up 130 points to 12,846, France’s CAC up 50 points to 6,079 and Italy’s MIB up 221 points to 21,647.
CNBC Pro: Oil can rise or fall – and these energy stocks are winners either way, portfolio manager says
Whether oil prices rise or fall, energy stocks are still worth investing in, according to Foord Asset Management’s Brian Arcese.
He names a couple of his favorite energy stocks, including one that he says will generate a “significant amount of cash” if oil prices stay high.
CNBC Pro subscribers can read more here.
— Weizhen Tan
Hong Kong stock movers: Tech drags broader index lower
Chinese tech companies pulled lower more broadly The Hang Seng Index in morning trade, with heavyweights such as Tencent and Ali Baba falling around 6% each.
Meituan fell 4.87%, while JD.com fell around 6% as well.
The Hang Seng Tech index was 3.49% lower, and the Hang Seng last lost 2.73%.
— Abigail Of
Big tech earnings reports coming this week
A number of big tech names report results for the third quarter this week. Due to the size of many of these companies’ market capitalizations, any post-earnings movements are likely to affect the entire market.
Alphabet and Microsoft report earnings on Tuesday, followed by Meta Platforms on Wednesday. apple and Amazon reports Friday.
—Carmen Reinicke
Stock futures rise on Sunday night
Stock futures rose Sunday night as Wall Street looks set to continue its best week since June amid third-quarter earnings season.
Futures tied to the Dow Jones Industrial Average gained 289 points, or 0.93%, just a few minutes after the start of futures trading on Sunday. S&P 500 futures rose 1.18% while Nasdaq 100 futures rose 1.37%.
—Carmen Reinicke
