This is a live blog from CNBC covering European markets.
European markets headed for a mixed day on Thursday, while sentiment weakened this week after losses in the US market.
U.S. stock futures traded mostly flat on Wednesday night, with tech stocks weighing on the index, after the S&P 500 and Nasdaq Composite posted their fourth consecutive day of declines.
Asia-Pacific markets rose across the board on Thursday, in contrast to overnight losses on Wall Street, where the S&P 500 and Nasdaq Composite Index fell for a fourth consecutive day.
Oil falls more than 3% despite risk of war: ‘Peace may be over, but oil continues to flow’
Oil futures fell more than 3% on Wednesday as markets discounted the risk that a war between Israel and Iran could escalate and disrupt supplies.
West Texas Intermediate for May delivery fell $2.76, or 3.23%, to $82.60 per barrel. Brent futures for June contract fell $2.87, or 3.19%, to $87.15 per barrel. US crude oil and global benchmarks fell more than 3.5% for the week.
“The theory that tensions between Iran and Israel would disrupt oil supplies is gone,” said Manish Raj, managing director of Velandera Energy Partners. “Peace may be over, but the oil continues to flow,” he said.
— Spencer Kimball
Morgan Stanley, HSBC cut jobs in Asian investment banking this week – Reuters
Morgan Stanley and HSBC will cut dozens of jobs in their investment banking divisions in Asia-Pacific this week, Reuters reports.
Reuters, citing sources, said the move comes as both banks step up cost-cutting measures and a slowdown in deal-making and weak markets in China and Hong Kong weigh on business outlook. It is said that there is.
Starting this week, Morgan Stanley will cut at least 50 jobs in its investment banking division in the region, affecting about 13% of its 400 investment banking employees in Asia, the report said.
HSBC reportedly began cutting jobs on Tuesday, with around 30 dealmakers expected to leave the company.
— Lim Huijie
CNBC Pro: Many analysts lowered their price targets for these 10 stocks ahead of earnings.
Analysts lowered their expectations for several global stocks this week by lowering their price targets.
The price target change comes ahead of the next earnings season, which covers the first quarter of this year.
CNBC Pro screened global stocks in the MSCI World Index that have had their price targets lowered in the past seven days and have not yet announced earnings.
CNBC Pro subscribers can read more about the 10 stocks here.
— Ganesh Rao
European Market: Click here for opening call
European markets are scheduled to open mixed on Thursday.
According to IG data, the UK’s FTSE 100 index is expected to open 17 points higher at 7,872, Germany’s DAX rises 5 points to 17,789, France’s CAC falls 10 points to 7,983 and Italy’s FTSE MIB is expected to decline 8 points to 32,963.
Revenue will come from Nokia, Easyjet and ABB. The data release includes European new car registrations for March.
— Holly Ellyatt
