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EVERGRANDE WOES HIT EUROPEAN BOURSES AGAIN (07.45 GMT)
European stocks are in negative territory as sentiment turns
gloomy amid fresh worries about the weakening Chinese property
sector as a possible default by China Evergrande looms within
days.
After jumping to a 6-week high on Wednesday, the
pan-European STOXX 600 is trading 0.2% lower, with basic
resources index leading the losses down 2.1% and set for
its worst day in one month.
Even a bumper Q3 results did little to help Barclays, whose
shares are 1.2% lower.
Swiss engineering and tech group ABB shares fall 4%
after the company lowered its full-year sales forecast and
warned of shortages of components.
On a brighter note, consumer goods giant Unilever
shares are up around 1% after the company beat Q3 sales growth
forecasts as it hiked prices to try to offset surging energy and
other costs.
(Joice Alves)
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EUROPEAN STOCKS SEEN LOWER AS EVERGRANDE JITTERS RESURFACE
(0640 GMT)
Futures are pointing to a weaker start of the day for
European bourses as fresh worries about China's property sector
hit global sentiment.
China Evergrande, the heavily indebted developer
at the centre of a credit crunch in China's real estate sector,
said it abandoned a $2.6 billion sale of a stake in a subsidiary
and that it had made no progress on other sales.
But a batch of fresh earnings results could lend some
support to European stocks.
Unilever and Hermes sales beat estimates,
Truck maker Volvo profit beats forecast, but company
flags chip woes linger. Barclays Q3 beats expectations
on strong investment bank performance.
While Anglo American Q3 production inches 2% higher.
But not all is good news on the corporate front, for
instance, ABB flags component bottlenecks as it cuts sales
outlook.
(Joice Alves)
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