9 hours ago
Goldman Sachs says it’s time to buy this unloved global sector – and names some of the best stocks
Europe’s utilities sector may have been under pressure over the past three years, but Goldman Sachs says a turnaround is underway, as it names stocks to play the industry in 2024.
“We believe that improved expectations on inflation and interest rates are likely to favor capital-intensive/longer-term assets, such as renewable energy (where the capital cycle appears to have reversed favorably, as evidenced by rising yields) and power grids (where the capital cycle appears to have reversed favorably, as evidenced by rising yields) Money has turned favorably, as evidenced by rising yields) and energy grids (as the market appears to be ignoring incremental organic growth opportunities),” the bank’s analysts wrote.
The investment bank has named a group of stocks that it expects to rise by 30%.
CNBC Pro subscribers can read more here.
– Amala Balakrishner
9 hours ago
CNBC Pro: These are Wall Street’s top picks for semiconductor stocks this year
Semiconductor stocks had a good year in 2023, rebounding from post-pandemic underperformance in 2022.
The PHLX Semiconductor Index (Sox) is up 65% in 2023, outpacing the S&P 500.
Banks like BofA and UBS remain bullish on the semiconductor sector despite its strong run in 2023.
CNBC Pro delved into recent research conducted by Wall Street in January to look for the top semiconductor picks for 2024 cited by analysts.
Subscribers can read more here.
-Weezin Tan
5 hours ago
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 13 points higher at 7,630, Germany’s DAX is up 72 points at 16,759, France’s CAC is up 30 points at 7,487, and Italy’s FTSE MIB is up 132 points at 30,644, according to IG data.
German GDP data for 2023 will be published on Monday, as will Italian inflation data for December and the eurozone trade balance for November.
– Holly Eliatt