Europe markets up 1.6% with utilities leading gains; Rishi Sunak to be new UK PM

Prosus sinks 14% on China growth worries

Pearson education group grows 8% after ‘excellent’ growth in English learning

Pearson shares rose 8% on Monday after the company reported 7% growth in underlying sales over the past nine months, beating market expectations.

Seeing strong trading across the board, says Pearson CEO

The education company said an “excellent” performance in English language learning helped deliver results, with English courses reporting a 28% growth.

Higher education fell 4%, in line with company expectations.

— Hannah Ward Glenton

UK 10-year gold yield drops as UK ready to get new prime minister

UK 10-year gold yields are trading at their lowest level since the mini-budget, which threw markets into turmoil on Sept. 23.

The move comes as former finance minister Rishi Sunak looks set to become the new prime minister.

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The 10-year yields traded nearly 21 basis points lower, at 3.846%, around 9 am London time.

European markets: here are the opening calls

European indices are set to open higher this morning, with the UK’s FTSE up 23 points to 6,992, Germany’s DAX up 130 points to 12,846, France’s CAC up 50 points to 6,079 and Italy’s MIB up 221 points to 12,846. 21,647.

CNBC Pro: Oil can rise or fall – and these energy stocks are winners either way, says portfolio manager

Whether oil prices rise or fall, energy stocks are still worth investing in, according to Brian Arcese of Foord Asset Management.

He cites some of his favorite energy stocks, including one that he says will generate a “significant amount of money” if oil prices remain high.

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CNBC Pro subscribers can read more here.

— Weizhen Tan

Hong Kong Stock Movers: Technology drags down the broader index

Chinese tech companies dragged down the broadest Hang Seng Index in the morning trade, with heavyweights like tencent and alibaba dropping about 6% each.

Meituan dropped 4.87%, while also dropped by about 6%.

The Hang Seng Tech index fell 3.49% and the Hang Seng lost 2.73%.

— Abigail Ng

Big tech earnings reports coming this week

A number of tech big names report third-quarter earnings this week. Due to the size of the market capitalization of many of these companies, any move after earnings is likely to affect the entire market.

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Alphabet and Microsoft report earnings on Tuesday, followed by Metaplatforms on Wednesday. Litter and amazon will inform you Friday.

—Carmen Reinike

Stock futures rise on Sunday night

Equity futures rose on Sunday night, with Wall Street looking to continue its best week since June amid third-quarter earnings season.

Futures pegged to the Dow Jones Industrial Average gained 289 points, or 0.93%, just minutes after futures trading began on Sunday. S&P 500 futures were up 1.18%, while Nasdaq 100 futures were up 1.37%.

—Carmen Reinike


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