World Economic Forum kicks off in Davos

Stocks on the move: Temenos down 7%, Hellofresh down 6%

Age Shares gained more than 7% by midday to lead the Stoxx 600 after the Swiss software company announced that CEO Max Chuard would step down.

At the bottom of the European blue chip index, the German meal kit delivery company Hellofresh It fell 6% after Exane BNP Paribas downgraded the stock to “neutral” from “outperform.”

– Elliot Smith

Gas supply will be difficult in the short term, Eni’s CEO says

Gas supply will be difficult in the short term, Eni's CEO says

Claudio Descalzi, CEO of Eni, discusses the three pillars of the energy industry.

The EIU says the Chinese consumer recovery will come later than expected

The EIU says the Chinese consumer recovery will come later than expected

Cailin Birch, global economist at The Economist Intelligence Unit, discusses the impact of China’s opening up on the global economy.

Stocks on the move: Temenos down 5%, Tecan down 4%

Age shares gained more than 5% in early trading to lead the Stoxx 600 after the Swiss software company announced that CEO Max Chuard would step down.

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Underneath the European blue chip label is a national laboratory equipment manufacturer The Tecan group after Kepler Cheuvreux downgraded the stock to “hold” from “buy” and lowered its target price to 4%.

– Elliot Smith

CNBC Pro: Want a Tesla alternative? Analysts and fund managers reveal their top EV stocks

CNBC Pro: Analysts love these 12 cheap stocks — and one pays 70% upside

2022 was a bad year for many investors, with most stocks – especially technology – falling to levels not seen since 2008.

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CNBC Pro has been featured for these names who are also Wall Street favorites.

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CNBC Pro subscribers can read more here.

– Weizhen Tan

The outlook for inflation softens again, with traders raising the overall rate a quarter-point

The decline in consumer inflation expectations has been fueled by expectations that the Federal Reserve may reduce interest rate hikes in a few weeks, and end them entirely in the near future.

The University of Michigan’s consumer sentiment survey showed on Friday that the one-year inflation outlook fell to 4%, the third straight monthly decline and the lowest level since April 2021.

Meanwhile, traders indicated a 94.2 percent chance of a 0.25 percent interest rate hike on February 1, when the Fed’s next two-day meeting ends. That represents another smaller move than the 0.5 percent rise in December, which was itself the slowest of four straight 0.75 percent increases.

“Inflation expectations are well-bound and improving as price pressures weaken in many sectors. The Fed will hike by 0.25% at its next meeting later this month,” LPL Chief Economist Jeffrey Roach said. “We shouldn’t be surprised if the Fed starts talking about a shutdown in the near future.”

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– Jeff Cox

European Markets: Here are the opening calls

European markets are headed for a higher open on Monday as investors assess the global inflation outlook following positive signs from last week’s US data.

British ones FTSE 100 The index is expected to open 10 points higher and reach 7,856, in Germany DAX 84 points higher at 15,174, France CAC up 43 points in 7,063 and Italy FTSE MIB 142 points at 25,895, according to IG data.

Data releases include Germany’s ZEW survey on economic sentiment for January and Italy’s preliminary inflation figures for January. The World Economic Forum begins on Monday in Davos, Switzerland.

– Holly Elliott

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