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Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters. You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and
Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo
(stefano.rebaudo@thomsonreuters.com) in Milan.
ON THE RADAR: ANOTHER EARLY BATCH OF Q2 EARNINGS (0636 GMT)
European shares are seen opening in the red as risk appetite took a hit by concerns about
deteriorating U.S.-China relations. Investors also have to digest a slew of earnings reports,
which show the size of lockdowns damage.
France's Alstom reports a 27% slump in Q1 sales while Richemont Q1 sales nearly halve after
COVID-19 disruption. Richemont shares are down 4% in pre-market trading.
On a brighter note, Norway's Telenor Q2 earnings beat estimates and the company said it
expects a single-digit decline in its subscription and traffic revenues this year. Experian
first-quarter revenue falls less than feared.
Germany's Zalando shares are up almost 5% in pre market after the online fashion retailer
raised full year guidance as more people shop online.
Global miner Anglo sticks to most of its 2020 output targets but Q2 hit by COVID-19.
Swedish medical equipment maker Getinge also reported a jump in core profit and
order intake in the second quarter as demand for ventilators and other life support equipment
surged.
More news about COVID-19 treatment and vaccine: Early-stage human trial data on a vaccine
being developed by AstraZeneca and Oxford University will be published on July 20, The
Lancet medical journal said. Novartis's Sandoz division says will not make a profit on
15 generic drugs it is making available to developing countries to treat symptoms of COVID-19,
the Swiss drugmaker said on Thursday.
(Joice Alves)
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MORNING CALL: U.S.-CHINA TENSIONS HIT ONE MORE TIME (0540 GMT)
European shares are seen opening in the red as risk appetite weakened by growing concerns
about deteriorating U.S.-China relations.
Worries about a dispute between the world's two largest economies over the control of
advanced technologies and the protection of civil liberties in Hong Kong pushed Asian stocks and
U.S. futures down.
Even news that China's economy rebounded more than hoped in the second quarter from a record
slump was not enough to cheer investors up. A surge in coronavirus cases, which is prompting
some governments to reimpose containment measures, is also not helping sentiment.
After touching a one-month highs yesterday on vaccine hopes, European markets are set to
follow Asia lower. Investors will also have to digest a slew of earnings, which will show the
size of lockdowns damage.
Financial spreadbetters at IG expect London's FTSE to open 20 points lower at 6,273,
Frankfurt's DAX to open 97 points lower at 12,834 and Paris' CAC to open 26 points lower at
5,083.
(Joice Alves)
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