Stocks, news, data and earnings

Betting companies Entain and Flutter collapsed in Europe on Monday after a media report last week suggested the British government could increase taxes on online casinos and bookmakers.

The Guardian reported on Friday that some of these taxes could double once the UK budget is announced later this month.

Shares of Entain were last down 14.3%, while European-listed shares of Flutter were last down 7.6%.

— Sophie Kiderlin

European stocks were mixed as markets opened on Monday, with regional markets lacking direction after a choppy week last week.

The pan-European Stoxx 600 changed little when markets opened, last up 0.02% at 8:15 a.m. London time.

Due to the fluctuating trading range, travel and leisure stocks were the outlier with a loss of 1.7%.

— Sophie Kiderlin

Goldman Sachs has updated its list of top global stock picks for October, adding some and removing others.

The stocks are listed on the investment bank’s Conviction List – Directors’ Cut, which it says offers a “curated and active” list of stocks with buy ratings.

CNBC Pro subscribers can read more about three of the newest additions to the list that Goldman analysts say have more than 20% upside potential.

—Amala Balakrishner

Goldman Sachs raised its real GDP forecast for China in 2024 to 4.9% from 4.7% previously, as it assesses the “more vigorous and coordinated” stimulus measures unveiled at the two high-level news conferences last week.

An Oct. 13 research note said Chinese policymakers “have made a U-turn on cyclical policy management and increased their focus on the economy.”

The company attributed the upward revision to the Ministry of Finance indicating that 2.3 trillion yuan ($325.48 billion) of local government special bond funds will be used in the fourth quarter; and the National Development and Reform Commission said it would pre-approve next year’s 200 billion yuan of projects by the end of October.

“We expect the easing measures announced and proposed to date will result in a positive surprise of 0.4 percentage points compared to our previous forecast,” Goldman Sachs said, while raising the country’s 2025 real GDP growth forecast from 4 .3% to 4.7%.

However, it noted that its structural view of China’s growth has not changed amid ongoing growth challenges, including worsening demographics, a multi-year deleveraging trend and risks in the global supply chain.

— Anniek Bao

Chinese markets are back in the spotlight after a difficult start to the week.

China’s blue-chip CSI 300 index jumped over 10% at its opening on Tuesday on expectations of further measures to boost the economy after the seven-day break in Golden Week. However, the rally weakened after China’s National Development and Reform Commission held off on announcing major new stimulus plans, disappointing investors.

As investors consider whether and how to invest in China, two experts share their views on the market and the stocks they like right now.

CNBC Pro subscribers can read more here.

—Amala Balakrishner

European markets are expected to open mixed on Monday.

The United Kingdom FTSE 100 The German index is expected to open 12 points lower at 8,240 DAX 7 points less at 19,351, France CAC 12 points less to 7,568 and Italy FTSE MIB according to IG data, increased by 6 points to 34,144.

There are no major earnings or data releases on Monday.

– Holly Ellyatt