German inflation 10% in November, in line with expectations
The German consumer price index (CPI) rose by 10% year-on-year in November, shrinking by 0.5% from the previous month, in line with forecasts.
On an EU-harmonized basis, annual inflation was 11.3% while there was no monthly change.
– Elliot Smith
CNBC Pro: Apple vs. Microsoft? One outperforming fund manager picks his favorite
Richard-Mark Dodds told CNBC Pro the choice is clear: as one of them spends money on share buybacks, the other is making investments to further its business.
— Ganesh Rao
CNBC Pro: Goldman Sachs ups its price target on one athleisure stock, giving it over 30% upside
Goldman Sachs may have taken this popular sportwear retailer off its list of top stock picks, but the bank says the stock is still a buy.
Pro subscribers can read more here.
— Zavier Ong
CNBC Pro: ‘Global contenders’: BofA names stocks with earnings momentum that look cheap
BofA has identified a bunch of stocks it says are “inexpensive” but have strong earnings momentum and price momentum.
“Our back-testing and subsequent performance show that stocks with above-average earnings momentum tended to outperform, stocks with above-average price momentum tended to outperform, but stocks with both the characteristics tended to perform even better,” it wrote.
BofA said that these “global contenders” have outperformed the MSCI AC World Index by 6.9% year-to-date.
— Weizhen Tan
European markets: Here are the opening calls
European markets are heading for a positive open Tuesday as investors look ahead to the latest reading of U.S. inflation for November.
The U.K.’s FTSE index is expected to open 13 points higher at 7,460, Germany’s DAX 19 points higher at 14,336, France’s CAC up 15 points at 6,673 and Italy’s FTSE MIB up 100 points at 24,403, according to data from IG.
There are no major earnings. Data releases include the final reading of German inflation for November, U.K. unemployment figures for October and Germany’s ZEW survey of economic sentiment.
— Holly Ellyatt