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LIVE MARKETS-Futures fall, eyes on Nestle, Thyssenkrupp, earnings

Thu, 16th May 2019 07:17


* European shares seen opening lower * Stock index futures open down 0.1-0.3% * Nestle enters exclusive talks to sell skin health business * Earnings: Generali, NN Group, Bouygues * Asian shares fall after US blacklists Huawei Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net FUTURES FALL, EYES ON NESTLE, THYSSENKRUPP, EARNINGS (0614 GMT) Besides news from the hot Sino-U.S. front (the U.S. sanctions against Huawei), which are set to weigh on the European open today, there is some dealmaking activity and more earnings updates that could keep investors busy this morning. Futures on main European country benchmarks are down between 0.1% and 0.3%. Nestle is on the watchlist after the Swiss food giant said it entered exclusive negotiations to sell its skin health business to a private equity-led consortium in a deal worth 10.2 billion Swiss francs. Still in M&A, Reuters reported that Finland's Kone is assessing the viability of a bid for Thyssenkrupp's 14 billion-euro elevators division even as the German conglomerate pursues plans to list it. Among the early morning earnings to digest we have those from insurers Generali and NN Group, which both beat profit estimates, while French group Bouygues keept its goals after better-than-expected first quarter results. Overseas we had good looking updates from Cisco, which reported better-than-expected quarterly earnings and gave an upbeat sales forecast, while Chinese e-commerce giant Alibaba beat fourth-quarter revenue forecasts, helped by diversification into cloud computing. Tencent Holdings posted a record quarterly profit. Back to Europe, sources said that Commerzbank plans to hold an extraordinary meeting of its supervisory board on May 21 to discuss strategy, while the organisation that defends shareholder interests in the Netherlands called on ING Groep to clarify whether it is interested in acquiring its German rival. ING as well as Italy's UniCredit are seen as possibly interested in a tie-up with Commerzbank. Here are other possible stock-moving headlines: French group Bouygues keeps goals as Q1 operating loss narrows Generali Q1 profit beats forecast, rule changes weigh on capital Insurer NN Group Q1 core profit surges 50%, beats estimates Sunrise boosts FY profit guidance after Q1 profit growth Ubisoft's fourth quarter misses company's expectations Euronext's first-quarter core profit drops as costs bite Spun-off Alcon gives first full-year guidance as it posts flat sales U.S. tariffs against Airbus would harm Delta - airline official Britain's NSF presses on with $1.7 bln Provident hostile bid Telecom Italia and Vodafone to sign deal to merge towers in Italy by summer end UniCredit chairman does not rule out industry rescue of Carige (Danilo Masoni) ***** EUROPEAN SHARES SEEN DOWN AGAIN AS US BLACKLISTS HUAWEI (0526 GM) European shares are expected to open lower this morning after the U.S. administration hit Chinese telecoms giant Huawei with severe sanctions, risking add more stress to the difficult trade talks between the world's two largest economies. In the previous session European stocks surged after U.S. officials said President Donald Trump was expected to delay auto tariffs by up to six months. Financial spreadbetters at IG expect London's FTSE to open 32 points lower at 7,265, Frankfurt's DAX to open 56 points lower at 12,043, and Paris' CAC to open 18 points higher at 5,360, after Asian shares fell overnight following the U.S. blacklisting of Huawei. "While the suspension of auto tariffs is welcome it certainly doesn't mean that President Trump can’t create ripples in other ways, and this is reflected in the more mixed reaction amongst Asia markets. This in turn is expected to translate into a lower European open later this morning," says Michael Hewson, Chief Market Analyst at CMC Markets. (Danilo Masoni) *****



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