European markets close higher as investors weigh economic outlook

The price of silver dropped as much as 5% during Monday trading, hitting $24.295 per ounce just after 3 p.m. London time (10 a.m. ET).

Some analysts predicted that silver prices could hit a nine-year high of $30 per ounce in 2023, possibly outpacing gold. Shortages of the precious metal and its tendency to perform well in periods of high inflation are driving the bullish outlook, analysts told CNBC.

"Silver is in a shortage … and there is a notable drawdown in the available physical stocks held in New York and London's physical hubs, more so than seen in gold," said Nicky Shiels, head of metals strategy at precious metals company MKS PAMP.

Read more about the outlook for silver prices here.

— Hannah Ward-Glenton

Brennan Spellacy, co-founder and CEO of climate platform Patch, discusses how companies can tackle decarbonization.

Stephen Isaacs, chairman of the investment committee at Alvine Capital, explains why he is optimistic about European markets but believes there is more downside to be realized in the U.S.

Bond markets could be an attractive investment this year, while equity markets could see further declines, Daniel Morris, chief market strategist at BNP Paribas, says.

Charlie White-Thomson, CEO of Saxo Markets U.K., discusses his outlook for inflation in Britain, and how this is impacting consumers and corporates.

Shares of German flavoring and fragrance producer Symrise fell more than 7% to the bottom of the Stoxx 600 in early trade after the company missed full-year earnings expectations.

Remy Cointreau shares climbed 3% after Citigroup upgraded the French liquor company's stock to "buy" from "neutral" and raised its target price.

- Elliot Smith

Kristalina Georgieva, managing director of the IMF, said Friday at the World Economic Forum that the global economic outlook is not as bad as feared a couple of months ago — "but less bad doesn't quite yet mean good."

"We have to be cautious," she told a closing panel at the World Economic Forum in Davos moderated by CNBC.

She said headline inflation was heading down and China's reopening was expected to boost global growth, with the IMF forecasting its economy will outpace global growth of 2.7% this year, at 4.4%, after slipping below it for the first time in four decades last year.

— Jenni Reid

Software stocks were a pandemic darling, but their popularity waned as economies reopened.

Nevertheless, the sub-sector in tech remains a key part of several long-term secular trends, such as cloud computing and artificial intelligence.

CNBC Pro had a look at Wall Street research to find banks' top stock picks to play the software sector.

Pro subscribers can read more here.

— Zavier Ong

European markets are expected to open in negative territory Tuesday.

The U.K.'s FTSE 100 index is expected to open 17 points lower at 8,393, Germany's DAX down 18 points at 18,718, France's CAC 5 points lower at 8,199 and Italy's FTSE MIB down 31 points at 34,451, according to data from IG.

Earnings are due from Euronext, Eutelsat, Hannover Re, Bayer, Porsche and Vodafone.

— Holly Ellyatt

Investors are preparing for a gloomy 2023 by doubling down on cash-rich companies.

Using FactSet data, CNBC Pro screened for stocks that boast lots of cash and are best positioned for a rocky year.

CNBC Pro subscribers can read more here.

— Weizhen Tan

The launch of Microsoft-backed ChatGPT recently set the internet abuzz, and its popularity might be prompting investors to wonder what it means for Google parent Alphabet.

Analysts say the platform could be a threat to Google's bread-and-butter search business. ChatGPT, created by San Franciso-based OpenAI, is an artificial intelligence chatbot able to answer questions and write essays.

Both tech behemoths compete in the cloud business.

CNBC Pro spoke to fund managers and trawled through Wall Street research to find out how the two stocks might perform — and whether they have a favorite.

CNBC Pro subscribers can read more here.

— Weizhen Tan