European markets are up with media stocks leading the gains; UK leadership race nears deadline

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Yield on UK 10-year gilts falls as UK moves to get new Prime Minister

Yields on UK 10-year gilts are trading at their lowest level from the mini-budgetwhich plunged the markets into turmoil on September 23.

This decision comes as the former finance minister Rishi Sunak seems ready become the new prime minister.

10-year yields traded down almost 21 basis points to 3.846% around 9am London time.

European markets: here are the opening calls

European indices are set to open higher this morning, with Britain’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 21,647.

CNBC Pro: Oil could go up or down — and these energy stocks are winners either way, portfolio manager says

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

He cites a few of his favorite energy stocks, including one he says will generate a “significant amount of cash” if oil prices stay high.

CNBC Pro subscribers can learn more here.

—Weizhen Tan

Hong Kong stock moves: Tech drives down broader index

Chinese tech companies pulled down Hang Seng Index in the morning trade, with heavyweights like Tencent and Ali Baba down about 6% each.

Meituan lose 4.87%, while JD.com also fell by about 6%.

The Hang Seng Tech index was down 3.49% and the latest Hang Seng lost 2.73%.

—Abigail Ng

Big tech earnings reports coming this week

A slew of big tech names announced their third-quarter results this week. Due to the size of the market capitalization of many of these companies, any movement after earnings will likely impact the broader market.

Alphabet and Microsoft declare his income on Tuesday, Meta Platforms tracking Wednesday. Apple and Amazon will report on Friday.

—Carmen Reinicke

Stock futures rise Sunday evening

Stock futures rose Sunday night as Wall Street looks to continue its best week since June amid the third-quarter earnings season.

Futures contracts linked to the Dow Jones Industrial Average gained 289 points, or 0.93%, just minutes after the start of futures trading on Sunday. S&P 500 futures rose 1.18% while Nasdaq 100 futures climbed 1.37%.

—Carmen Reinicke

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