This is CNBC’s live blog covering European markets.
European markets are heading for a negative open on Thursday, tracking global declines overnight.
Most Asia-Pacific markets fell Thursday after Wall Street dropped overnight as investors looked ahead to a gross domestic product reading from the U.S. Thursday and Friday’s reading of the personal consumption expenditures price index, which is a closely followed gauge of inflation.
Economists polled by Reuters expect the U.S. economy to post a 5.2% year-on-year growth in the third quarter, while the personal consumption expenditures price index is expected to climb 2.3% in the same period — its slowest rise since the fourth quarter of 2020.
European markets traded mixed Wednesday as investors digested fresh inflation data from the U.K. that showed inflation slowed more sharply than expected in November to 3.9%, down from 4.6% in October.
The FTSE 100 jumped 1.3% on the news, hitting a three-month high as the data adds pressure on the Bank of England to cut rates in 2024. There are no major data releases in Europe Thursday.
CNBC Pro: Here’s how to create a diversified portfolio of stocks and bonds for 2024, according to the pros
Investors will face a number of uncertainties in 2024, including the question of whether a recession will be avoided or how geopolitical risks will develop.
Stocks have been rallying this year, while bonds fell into a bear market — before investors recently started flocking back to this asset.
Against that backdrop, cautious investors may want to create a diversified portfolio as they head into 2024.
Speaking to CNBC Pro Talks, three experts discussed their market outlooks and investment strategies for 2024.
CNBC Pro subscribers can read more here.
— Weizhen Tan
CNBC Pro: Citi upgraded a global stock after its move to cut its Russian stake — and gives it 27% upside
Citi has upgraded shares of a European stock after the company announced a complex transaction that will weaken its links to Russia.
The move should also help the company improve its earnings outlook, according to the Wall Street bank, which led it to raise the price target and give it a 27% upside.
CNBC Pro subscribers can read more here.
— Ganesh Rao
European markets: Here are the opening calls
European markets are set to open lower Thursday.
The U.K.’s FTSE 100 index is expected to open 45 points lower at 7,672, Germany’s DAX down 73 points at 16,666, France’s CAC down 45 points at 7,548 and Italy’s FTSE MIB down 163 points at 30,384, according to data from IG.
There are no major data releases Thursday.
— Holly Ellyatt
