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JLS Consulting discusses the outlook for airlines
John Strickland, director at JLS Consulting, also weighs in on supply chain concerns.
F/m Investments: Consumers will eventually run out of steam
Alex Morris, president and CIO of FM Investments, discusses the factors that “will start to tighten some purse strings.”
German auto group Schaeffler increases Vitesco bid
German auto group Schaeffler said on Monday it would increase its offer price for shares in Vitesco Technologies to 94 euros ($102.94), up from the 91 euros noted in the original takeover bid that was launched earlier this year.
Schaeffler said Monday that the higher offer price underscored its “confidence in the expected synergies and value creation potential of the business combination with Vitesco.”
The higher offer price was however described as “inadequate” by Vitesco’s management and supervisory boards, according to a statement released Monday.
The companies also said that they had signed an agreement to merge their businesses on Monday, adding that Vitesco’s expertise would be primarily used in an e-mobility focused division of the joint business.
A merger would still need to be approved at Vitesco’s general meeting next year. Schaeffler currently owns 49.9% of Vitesco, however some minority shareholders have been critical of the deal.
“Given the current status of Schaeffler’s stake in Vitesco Technologies, it is possible that the 75% quorum that is needed to approve the merger can be achieved,” a Vitesco spokesperson told CNBC on Monday.
— Sophie Kiderlin
Europe stocks start week slightly lower
European markets dipped at the start of the new trading week, though sector movements remained subdued.
Oil and gas stocks fell 0.8% as retail nudged 0.3% higher.
The Stoxx 600 index was 0.1% lower at 9:05 a.m. London time. The pan-European benchmark has climbed steadily through November and is on track for a monthly gain of more than 6%, according to LSEG data, its best month since January.
Stoxx 600 index.
CNBC Pro: Fund manager reveals the one energy stock to buy right now
Brian Arcese, portfolio manager at investment firm Foord Asset Management has named the one energy stock investors should own right now.
Arcese, who manages the absolute return Foord International Fund, singled out the oil and gas giant over its strong cash flows and balance sheet.
Analysts have also forecast a “stable” 11% distribution yield for the stock next year, which includes share buy-backs.
CNBC Pro subscribers can read more about his stock ideas here.
— Ganesh Rao
CNBC Pro: Portfolio manager explains why he has the ‘most conviction’ in this China tech stock
Chinese tech players like Baidu, Alibaba and Tencent have largely been viewed favorably been investors, even as the Asian powerhouse has been having slower growth.
One tech giant, however, stands out to portfolio manager Brian Arcese.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
European markets: Here are the opening calls
European markets are expected to open in negative territory Monday.
The U.K.’s FTSE 100 index is expected to open 17 points lower at 7,473, Germany’s DAX down 42 points at 15,993, France’s CAC down 25 points at 7,268 and Italy’s FTSE MIB down 81 points at 29,381, according to data from IG.
There are no major earnings or data releases Monday.
— Holly Ellyatt
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