European markets head for mixed open as banking officials at Davos temper rate cut expectations

This is CNBC’s live blog covering European markets.

European markets are heading for a mixed open Thursday as investors continue to monitor news and comments from the World Economic Forum in Davos, Switzerland.

A number of European central bank officials at Davos have been hawkish about interest rate cuts, warning that despite progress tackling inflation, markets have gotten ahead of themselves in terms of expectations for spring rate cuts.

CNBC is in Davos, speaking to a wide range of business and political leaders, from Iran’s Foreign Minister Hossein Amir-Abdollahian to U.S. Secretary of State Antony Blinken.

On Thursday, we have interviews with the Dutch and Bulgarian prime ministers, the Hungarian president and Saudi Arabia’s finance and economy ministers, as well as the U.K.’s Shadow Chancellor Rachel Reeves. The CEOs of Philips, Merck, Barclays, SAP, Swiss Re, S4Capital and BBVA, among others, will also be joining CNBC.

See all our online coverage here.

CNBC Pro: These 14 cheap stocks are off to a great start in 2024, and Wall Street sees two jumping more than 30%

Stock markets have rallied over the past two months and near all-time highs.

Yet, shares in some companies are trading at steeper discounts than they have in recent history, presenting an opportunity for investors.

CNBC Pro screened the MSCI World Index and found 14 stocks that are trading cheaply with significant upside potential. Subscribers can read more here.

— Ganesh Rao

European markets: Here are the opening calls

European markets are set to open in mixed territory Thursday.

The U.K.’s FTSE 100 index is expected to open 3 points higher at 7,439, Germany’s DAX up 20 points at 16,431, France’s CAC down 7 points at 7,307 and Italy’s FTSE MIB down 36 points at 30,118, according to data from IG. 

French business climate data for December is due. There are no corporate releases.

— Holly Ellyatt