The European Central Bank must take its time to get interest rate cuts right and will have a clearer picture of inflationary pressures in June, the institution’s chief economist told CNBC Thursday.

In line with the ECB’s messaging at its March meeting, Philip Lane said that more data was required, particularly around wages, and that the Governing Council would “learn a lot by April, a lot more by June” — the dates of its next two meetings.

June emerged as a key date in market commentary, as it’s set to mark the first meeting where the ECB can assess spring data on wage negotiations for the year.

Asked about other colleagues on the ECB’s Governing Council who have suggested rate cuts could take place before the summer, Lane said he believed this was a reference to the second quarter, which would include June.

“I think Q2 is a time when we will be far enough into 2024 to see more of the wage dynamic, to see more of the price pressures.”

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— Jenni Reid

Shares of German renewable energy producer Encavis soared 27% in early trade, after investment firm KKR confirmed it had made a takeover offer for the company for 17.50 euros ($19.14) per share in cash, for a total equity value of around 2.8 billion.

The deal represents a 54% premium on the stock’s closing price of March 5, the day before a Bloomberg report revealed talks over the deal.

Energy systems firm Viessmann would act as co-investor in a KKR-led consortium.

Encavis’s board supports the offer, according to a statement.

“Over the past years, Encavis has grown into one of the leading independent power producers in Europe and has strong ambitions to further continue on this growth path,” Encavis CFO Christoph Husmann said.

“With KKR and Viessmann, we aim to bring partners on board who share the same long-term and entrepreneurial approach and extensive experience of investing behind the energy transition,” Husmann added.

Meal delivery firm Deliveroo reported a £31.8 million ($40.7 million) loss in full-year results on Thursday, moving closer to profitability following a £294.1 million loss during the previous year.

Adjusted earnings — stripping out the impact of one-off costs from its exit from some markets — came in at £85.4 million, ahead of the company’s prior guidance and up from a £45 million loss in 2022.

The British firm said it has benefited from efficiencies in its delivery network, the optimization of marketing spend, overheads savings and a higher advertising contribution, as it forecast adjusted earnings of £110-130 million for 2024, along with positive cash flow.

European stock markets rose beyond a key psychological barrier this month and show no signs of stopping.

The STOXX Europe 600 hit 500 points for the first time last week, and the benchmark index has since notched yet another all-time high. The records come alongside positive returns for seven consecutive weeks.

Yet, investors need not feel nervous from the market euphoria if history is any indication. Stocks could be in for even bigger gains ahead, according to CNBC Pro’s analysis of stock market data starting from 1987.

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— Ganesh Rao

Asset manager Jason Hsu sees promise in Chinese stocks – naming short and longer-term opportunities to play the market.

“Chinese stocks are trading at the cheapest they’ve ever been. They offer such a big discount and are certainly good investments within a portfolio. There is a risk with China – with how the economy will take form – but with stocks being so cheap, it is a risk worth taking,” Hsu, who is the chairman and chief investment officer at Rayliant Global Advisors told CNBC Pro on Mar. 13.

“I’m always of the view that if you wait around for all the ambiguity or uncertainty to be over – the opportunities will be gone. Everyone is sure that China is going to be back in the race. So, the fact that there is a lot of negative sentiment now means you’re getting a big discount for holding on for future growth in China,” he added, naming two stocks on his radar.

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— Amala Balakrishner

European markets were set to open in negative territory Thursday.

The U.K.’s FTSE 100 index is expected to open unchanged at 7,764, Germany’s DAX down 22 points at 17,937, France’s CAC 12 points lower at 8,128 and Italy’s FTSE MIB down 95 points at 33,280, according to data from IG. 

Earnings from Porsche, the John Lewis Partnership, Vistry and Deliveroo are due. Data releases include Spain’s final inflation figures for February.

— Holly Ellyatt