Bookmakers Entain and Flutter fall on reports of possible tax hikes
bookmaker Include and flutter European stock markets plummeted on Monday after media reports last week that the British government may increase taxes on online casinos and gaming companies.
The Guardian on Friday report Some of these taxes could be doubled and could be imposed as soon as the UK budget is published later this month.
Entain’s share price recently fell 14.3%, and European-listed Flutter’s share price recently fell 7.6%.
——Sophie Kidlin
European markets open flat
European stocks opened mixed on Monday, with regional markets lacking direction after a choppy week last week.
Pan-European Stoke 600 The market opened little changed, falling 0.02% at 8:15 am London time.
Travel and leisure stocks were an outlier amid the range-bound trade, falling 1.7%.
——Sophie Kidlin
Goldman Sachs just updated its confidence list of global stocks, giving 3 stocks more than 20% room for upside
Goldman Sachs updated its list of global stock picks for October, adding some stocks and deleting some.
The stocks appear on the investment bank’s “Conviction List – Director’s Cut,” which it says provides a “curated and active” list of Buy-rated stocks.
CNBC Pro subscribers can read more Goldman Sachs analysts said the three latest stocks on the list have upside potential of more than 20%.
— Amala Balakrishna
Goldman Sachs raises China GDP growth forecast amid stimulus measures
Goldman Sachs raised China’s 2024 real GDP forecast to 4.9% from the previous 4.7%, assessing the “more powerful and coordinated” stimulus policies launched at two high-level press conferences last week.
It said in an Oct. 13 research note that Chinese policymakers have “shifted to cyclical policy management and increased focus on the economy.”
The company attributed the increase to the Ministry of Finance saying it would use 2.3 trillion yuan ($325.48 billion) of local government special bond funds in the fourth quarter; the National Development and Reform Commission said it would pre-approval of next year’s 200 billion yuan plan before the end of October.
Goldman Sachs said: “We estimate that the easing measures announced and recommended to date will be 0.4 percentage points higher than our previous forecast.” It also raised China’s 2025 real GDP growth forecast to 4.7% from 4.3%.
However, it noted that its structural view on China’s growth has not changed due to ongoing growth challenges, including deteriorating demographics, a multi-year debt deleveraging trend and global supply chain risks.
— Annie Bao
CNBC Pro: Is now the time to invest in China? Two professionals share their perspectives
After a rough start to the week, Chinese markets are back in the spotlight.
China’s blue-chip CSI 300 index soared more than 10% at the open on Tuesday on expectations of further measures to boost the economy after the epidemic. Golden Week 7-day holiday. However, gains cooled after China’s National Development and Reform Commission delayed announcing any new major stimulus package, disappointing investors.
As investors consider whether and how to invest in China, two experts share their thoughts on the current market and their favorite stocks.
CNBC Pro subscribers can read more here.
— Amala Balakrishna
European Markets: Here are the opening calls
European markets are expected to open mixed on Monday.
British FTSE 100 German stocks are expected to open 12 points lower at 8,240 German DAX Index France fell 7 points to 19,351 CAC Down 12 points to 7,568 points, Italy FTSE MIB It rose 6 points to 34,144, according to IG data.
There are no major earnings or data releases on Monday.
— Holly Elliot
