European stocks mixed as global markets rally; UniCredit falls 4% after making offer for Banco BPM

The pan-European Stoxx 600 hovered astir the flatline conscionable implicit 3 hours into trading connected Monday aft opening astir 0.5% higher.

By 11:38 a.m. London time, the scale was up 0.03%.

Sectors were mixed, with mining stocks adding astir 1%, portion retail stocks were down 1.2%.

Stoxx 600

Shares successful location betterment retailer Kingfisher fell implicit 13% connected Monday, making it the biggest loser connected the pan-European Stoxx 600.

The company, whose brands see B&Q and Screwfix successful the U.K. and Castorama and Brico Depot successful France, said Monday that it was tightening its guidance for the existent 2024/2025 year. Annual nett earlier taxation is present expected to travel successful astir £510 cardinal ($641.6 million) to £540 million, compared to a erstwhile forecast of £510 cardinal to £550 million.

Kingfisher besides said its third-quarter like-for-like income were down 1.1%, citing a "weak marketplace and user successful the UK and France successful October, impacted by uncertainty related to authorities budgets successful some countries."

Shares were down 13.5% astatine 11:01 a.m. London time.

— Sophie Kiderlin

Ifo's concern clime scale for Germany fell to 85.7 points successful November, the economical institute said Monday.

The scale had accrued successful October, coming successful astatine 86.5 points, aft antecedently declining for 4th months straight.

Ifo said November's pullback "was owed chiefly to the worse appraisal of the existent situation," portion expectations for the system lone fell slightly. "The German system is floundering," Ifo said.

Breaking it down by sector, the existent concern clime worsened successful the manufacturing, work and operation sectors, and expectations for the coming months grew much sceptical oregon pessimistic successful each 3 sectors.

The commercialized assemblage was the outlier, with the concern clime scale rising and expectations becoming little pessimistic — but sentiment "is inactive a agelong mode disconnected from being positive," Ifo noted.

— Sophie Kiderlin

Barclays was fined £40 cardinal ($50.9 million) by the U.K.'s Financial Conduct Authority "for its nonaccomplishment to disclose definite arrangements with Qatari entities successful 2008," the regulator said Monday.

"The enactment was based connected findings which included that Barclays' behaviour successful its October 2008 superior raising was reckless and lacked integrity," the FCA said.

During the 2008-2009 fiscal crisis, Barclays scrambled to unafraid backing from overseas, including from Qatari investors, to debar a authorities bailout.

Shares successful Barclays were past up 1.75% astatine 9:14 a.m. London time.

— Sophie Kiderlin

Shares successful Banco BPM roseate implicit 5% astatine 1 constituent connected Monday aft chap Italian lender UniCredit offered to bargain the slope for astir 10 cardinal euros ($10.5 billion).

Banco BPM and UniCredit are 2 of Italy's largest lenders.

Shares successful Banco BPM were past up 4.76% astatine 8:37 a.m. London time, portion UniCredit shares were 2.91% lower.

UniCredit said the determination to drawback up Banco BPM was abstracted from its pursuit of Germany's Commerzbank. Reuters besides reported that UniCredit CEO Andrea Orcel said that immoderate bid for Commerzbank would travel aft the integration of Banco BPM.

Commerzbank shares were past down 5.93%.

— Sophie Kiderlin

European markets opened higher Monday, with the pan-European Stoxx 600 scale adding astir 0.5% soon aft trading began.

Sectors broadly traded higher arsenic household goods and autos stocks led gains, some adding astir 1.3%. Healthcare and retail stocks, meanwhile, were the lone sectors to propulsion back, dipping by astir 0.2% and 0.1% respectively.

Regional bourses were higher, with France's CAC 40 adding adjacent to 1%, Germany's DAX rising 0.7% and the U.K.'s FTSE 100 climbing 0.4%.

— Sophie Kiderlin

Asia-Pacific markets mostly roseate Monday, with Australia's S&P/ASX 200 hitting caller highs.

Australia's S&P/ASX 200 roseate 0.28% to adjacent astatine 8,417.6, hitting a caller all-time closing high. The scale besides reached a caller intraday precocious of 8,462.1 during the trading session.

On Monday, Singapore released its ostentation figures for October. The country's header ostentation complaint fell to 1.4%, the lowest complaint of ostentation since March 2021.

Japan's Nikkei 225 was up 1.3% up, ending astatine 38,780.14, portion the broad-based Topix roseate 0.71% to 2,715.6.

In contrast, Hong Kong's Hang Seng index fell 0.3% successful its past hr of trade, portion mainland China's CSI 300 was down 0.46% to adjacent astatine 3,848.09.

— Lim Hui Jie

French IT steadfast Atos said Monday that it had received a non-binding connection from France's authorities for its precocious computing activities. The connection projected endeavor worth of 500 cardinal euros ($523 million), Atos added.

Negotiations were underway with the people of having a stock acquisition statement signed by May 31, the institution said successful a press release.

The French authorities had previously submitted a non-binding connection that besides included Atos' ngo captious strategy and cybersecurity products arsenic good arsenic the precocious computing activities, Atos noted. It added that it was present looking to motorboat a ceremonial income process for its ngo captious strategy and cybersecurity products businesses.

Atos has agelong faced fiscal difficulties including soaring debt, and is presently successful the process of restructuring. The institution holds respective delicate contracts successful France, including with the country's military.

— Sophie Kiderlin

Italian lender UniCredit on Monday offered to drawback up its home rival Banco BPM for astir 10 cardinal euros ($10.5 billion) successful a determination it says is abstracted from its pursuit of German bank Commerzbank.

The determination would, if completed, merge 2 of Italy's largest lenders. 

Read the afloat communicative here.

European markets are expected to unfastened higher Monday.

The U.K.'s FTSE 100 scale is expected to unfastened 22 points higher astatine 8,290, Germany's DAX up 127 points astatine 19,435, France's CAC up 55 points astatine 7,305 and Italy's FTSE MIB up 275 points astatine 33,912, according to information from IG.

Data releases see the Ifo concern clime scale successful Germany. There are nary large net releases.

— Holly Ellyatt

China connected Monday kept its medium-term lending complaint steady, arsenic the country's cardinal slope seeks to stabilize the yuan which has travel nether unit pursuing Donald Trump's triumph successful the U.S. statesmanlike election.

The People's Bank of China kept the medium-term lending installation complaint unchanged astatine 2.0% connected 900 cardinal yuan ($124.26 billion) worthy of one-year loans to immoderate fiscal institutions, according to the bank's authoritative statement.

"It is simply a well-expected move, fixed that the marketplace liquidity [has] remained ample," said Bruce Pang, main economist and caput of Research, Greater China astatine JLL, citing PBOC's move successful October that injected 500 cardinal yuan into the banking system.

Read the afloat communicative here.

— Anniek Bao

As investors presumption their portfolios for 2025, wealthiness managers are advocating for a diversified attack with selective bets connected undervalued sectors.

CNBC Pro spoke to Ollie Clark, lawman caput of probe astatine WH Ireland, and Mark Preskett, elder portfolio manager astatine Morningstar Wealth, astir however investors with astir $500,000 could look to allocate their portfolio.

One of them besides suggested however investors could capitalize connected President-elect Donald Trump's policies.

CNBC Pro subscribers tin work much here.

— Ganesh Rao

The sustainability taxable faces an uncertain aboriginal nether President-elect Donald Trump, but Morgan Stanley has named a fig stocks with large upside.

The Wall Street slope identified its apical overweight-rated stocks with implicit $2 cardinal successful marketplace headdress and a gross oregon superior expenditure vulnerability to sustainability themes.

Among its database of apical stocks to bargain are 2 renewable vigor companies with implicit 60% upside potential.

CNBC Pro subscribers tin work much here.

— Amala Balakrishner