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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.
OPENING SNAPSHOT: STOCKS SELL OFF CONTINUES... (0745 GMT)
European shares slide on fears of second wave of coronavirus cases with Beijing reporting
new infections.
The pan-European index fell 2.5% with basic resources and travel
leading the losses down almost 4%.
In terms of single stocks, BP is down 5% after it said it will incur an up to $17.5 billion
writedown in the value of its assets.
But on a positive note, Bunzl jumped 8.5% as it forecast an increase in revenue for the
first half of the year, while shares at biopharmaceutical company Ucb jumped 10%.
(Joice Alves)
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ON THE RADAR: SENSIRION, EASYJET, ASTRAZENECA and M&A (0645 GMT)
The disconnect between market sentiment and corporate news flow continues with futures
pointing to a start of the week in the red for European bourses as investors fear a second wave
of infections. Meantime, some companies prepare to return to work or engage in M&A deals.
EasyJet resumes flying for the first time since March 30 with COVID-19 measures in place and
Volkswagen will begin sending workers back to plant in Mexico on Tuesday.
Swiss sensor maker Sensirion lifts 2020 outlook as sales skyrocketed on COVID-19 demand
spike for ventilator sensors, while H&M's March-May sales tumble 50%, slightly less than
expected.
AstraZeneca signed a contract with European governments to supply the region with its
potential vaccine against the coronavirus.
In the M&A world, Cineworld scraps deal to buy Cineplex; while Metro Bank is in exclusive
talks to buy peer-to-peer lender RateSetter and Italy's BPER Banca approved a revised deal with
Intesa Sanpaolo to address antitrust issues in Intesa's takeover bid for UBI Banca.
Germany says coronavirus tracing smartphone app ready to go. Deutsche Telekom and software
company SAP are involved in the project.
BP will incur an up to $17.5 billion writedown in the value of its assets after lowering its
long-term oil and gas price outlook in expectation of an accelerated transition away from fossil
fuels. The company said that the coronavirus pandemic will accelerate the pace of transition to
a lower-carbon economy.
(Joice Alves)
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MORNING CALL: FEARS OF SECOND WAVES (0545 GMT)
Futures are pointing to a start of the week in the red for European bourses as risk appetite
gets a hit by fears of a second wave of COVID-19 infections after Beijing recorded new
infections in recent days.
Dozens of new cases all linked to a major wholesale food market were enough to encourage
investors to seek for safe-heavens across the world as authorities in China locked down housing
districts near the market.
News flow in Europe could help to improve the mood as countries are easing border controls
and the UK opens its shops.
Global coronavirus cases have crossed 7.86 million with 430,501? deaths, according to a
Reuters tally.
(Joice Alves)
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