stocks, news, inflation and GDP data
Britain’s Aviva reportedly contacts Direct Line shareholders
British insurance firm Aviva has contacted shareholders of Direct Line, The Financial Times reported on Thursday, citing people familiar with the move. The approach could pave the way for a hostile takeover attempt.
Aviva declined to comment on the report.
It comes shortly after Direct Line dismissed Aviva’s cash and share offer as “highly opportunistic” and said the proposal “substantially undervalued” the company. Aviva said it submitted an offer for its smaller rival on Nov. 19.
Shares of Direct Line soared 41% in the previous session, notching their highest level since 2023.
— Sam Meredith
CNBC Pro: 7 stocks to buy before the year-end, according to the pros
As investors prepare their portfolios for 2025, Wall Street’s finest have identified several European companies they believe offer significant growth potential despite market uncertainties.
Morgan Stanley downgraded European equities to neutral earlier this year. Yet, they suggest “Europe is a stock picker’s market” now since equities on the continent have begun to diverge from each other in terms of performance.
Meanwhile, investment firm Bernstein’s top 10 picks outperformed the MSCI Europe Small index by 5 percentage points since the end of October.
CNBC Pro subscribers can read more here.
— Ganesh Rao
How to ‘tariff-hedge’ your European portfolio, according to TS Lombard
As Europe faces the prospect of tariffs on its exports to the United States, TS Lombard has advised investors in the region on how to “tariff-hedge” their portfolios.
In a note this week, Davide Oneglia, director of European and global macro at TS Lombard, advised European investors to address their “tariff risk” by looking at their exposure “in the way Donald Trump … does, i.e. in terms of the USD value of the U.S. deficit/surplus in goods by country and sector.”
He suggested three key ways investors could protect their portfolios.
Pro subscribers can read more here.
— Holly Ellyatt
European markets: Here are the opening calls
European markets are expected to open mixed on Friday.
The U.K.’s FTSE 100 index is expected to open 7 points higher at 8,285, Germany’s DAX down 13 points at 19,408, France’s CAC down 5 points at 7,173 and Italy’s FTSE MIB down 48 points at 33,261, according to data from IG.
Market participants will closely monitor flash euro zone inflation data for November, as well as preliminary inflation readings for France and Italy.
— Sam Meredith
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