Europe stocks open higher
Stoxx 600 index.
European stocks opened cautiously higher on Friday, with the Stoxx 600 index up 0.23% at 8:10 a.m. in London.
Germany’s DAX and the U.K.’s FTSE 100 were both up by 0.3%, while France’s CAC 40 nudged 0.2% higher.
— Jenni Reid
UK retail had a damp April
A Uniqlo clothing store, soon to be opened, on Princes Street in Edinburgh, UK, on Wednesday, April 3, 2024.
Bloomberg | Bloomberg | Getty Images
U.K. shop footfall declined in April, according to figures from the British Retail Consortium, which partially blamed the unseasonably wet weather.
The number of shoppers on the high street dropped 6.9% year on year and 1.5% on the previous month. The BRC said that was also due to the Easter public holidays falling in April last year and March this year.
Footfall was lower by 6.2% in retail parks, and down by 7.2% in shopping centers. All U.K. nations and most cities had a weak performance.
“However, there was good news in Edinburgh, where footfall was positive once again owing to the investment in local shopping locations in the Scottish capital over the past few years,” said Helen Dickinson, chief executive of the British Retail Consortium.
Despite the gloomy start to spring, economists broadly expect a pick-up in the U.K. retail environment this year as real incomes rise.
— Jenni Reid
Europe stocks head for higher open
European stock markets are seen opening higher Friday, according to IG data.
The U.K.’s FTSE 100 was last seen up 18 points at 8,194 points, Germany’s DAX up 72 points at 17,980 and France’s CAC 40 up 24 points at 7,940.
Italy’s MIB was seen 153 points higher at 33,634.
— Jenni Reid
CNBC Pro: Goldman says these global stocks will soar on an $857.5 billion electrification boom – gives one 45% upside
Demand for power and data centers has been taking the world by storm, and its not just the U.S. tech giants that are set to benefit, according to Goldman Sachs.
Europe is set see a pick up in demand and electricity consumption by as much as 50% in the next 10 years – reversing the slump it has been facing since 2008, the investment bank’s analysts noted.
The massive growth translates to an investment of nearly 800 euros ($857.5 billion) in Europe’s power transmission and distribution network, they added, naming stocks with over 30% upside potential on their radar.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
CNBC Pro: Goldman names global stocks with the highest sustainable dividends, giving one 10% yield
European companies are more cash-rich than they’ve been in recent history.
Companies in the Stoxx 600 index have nearly 1.5 trillion euros ($1.6 trillion) in cash on their balance sheets — that’s 25% higher than pre-pandemic levels, according to Goldman Sachs.
And the dividend yield differential between Europe and the U.S. is the narrowest it’s ever been, making Europe more appealing, according to Goldman Sachs. “In other words, Europe has rarely looked cheaper on an absolute and relative basis,” it said.
CNBC Pro takes a look at some stocks that turned up on Goldman’s screen of high dividend yield names. They are companies in the Stoxx Europe 600 with the highest 12-month forward dividend yields in each sector.
Subscribers can read more here.
— Weizhen Tan
