BP Share News (BP.)

Oct 30 - Welcome to the home for real-time coverage of European equity markets brought toyou by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger toshare your thoughts on market moves: helen.reid.thomsonreuters.com@reuters.net WHAT'S ON THE RADAR: "GREAT DEAL" COMMENTS SOOTHE INVESTORS, EARNINGS FLOW IN (0734 GMT) European stocks are set to rise for a second day, with futures up 0.4 to 0.8 percent acrosseuro zone benchmarks, while FTSE 100 futures were down 0.1 percent. A report the U.S. intends to impose tariffs on all Chinese imports in December failingprogress in talks between Trump and Xi Jinping weighed on stocks in the U.S. and Asia, butTrump’s claim he expects a “great deal” with China, in a Fox News interview, helped riskappetite improve. Results from BNP Paribas would do nothing to quell investors’ concerns about European banks.France’s largest listed bank said weakness at its corporate and investment banking arm and atEuropean retail banks drove revenue down – a 5 percent miss against expectations, analysts said. Spain’s BBVA reported in-line results thanks to extraordinary capital gains in Chileoffsetting a loss of 190 million euros due to hyperinflation in China. UK gambling stocks Paddy Power Betfair and GVC could gain after the UK finance ministerannounced a lower remote gaming duty tax than expected, according to Credit Suisse and DavyResearch analysts. Some of the now-familiar themes of this earnings season – rising costs and concerns aboutconstruction - were evidenced once again. Swiss plumbing firm Geberit lowered its sales outlook, flagging extra caution about thebuilding industry. German airline Lufthansa blamed higher fuel costs for its Q3 profit miss –the latest in the airline sector to do so. On the other side of the scale, BP profits hit a five-year high as the oil major benefitedfrom higher crude prices. In the autos sector – which soared up as much as 4.8 percent on Monday on a report China wasmulling halving its car purchase tax, but closed 2.9 percent higher as some enthusiasm faded –Volkswagen became the latest to report weaker vehicle sales and more stringent anti-pollutionrules dented its profit. VW Q3 adj operating profit drops 18.6 pct as anti-pollution rules bite; Energy firm BP profits soar to five-year high; Reckitt Benckiser sales hurt by manufacturing disruption Britain's Restaurant Group buys Asian-food chain Wagamama (Helen Reid) ***** EARNINGS ROUND-UP: RISING COSTS A RECURRING THEME (0646 GMT) Recurring themes in the results so far this morning, with Lufthansa warning of higher fuelcosts and plumbing company Geberit giving a cautious outlook for the building sector. Banks may shine again after HSBC's surprisingly strong results yesterday, with BNP Paribasand BBVA reporting increases in profit. BP will publish results later. Here's what to watch in earnings: Spain's BBVA posts 46.4 pct rise in Q3 net profit due to one-offs BNP Paribas' Q3 profits rise, helped by growth at international businesses Lufthansa misses Q3 profit expectations as fuel costs weigh Geberit more cautious about building industry, lowers sales outlook UK airlines hit out at higher levy on long-haul flights UK government plans to sell remaining RBS stake by 2024 Airbus 2018 delivery goal questioned by analysts ahead of results Deutsche Boerse Q3 net profit up 10 percent; confirms 2018 forecasts Telecom Italia warms to I Squared bid for Persidera stake - sources Telefonica Deutschland slightly ups profit guidance after steady Q3 Fresenius says working to fix performance at dialysis business, German hospitals Fresenius Medical Care says expects weaker growth in Q4 Airbus 2018 delivery goal questioned by analysts ahead of results (Helen Reid) ***** EUROPE TO OPEN LOWER AS TRADE WAR HEATS UP AGAIN (0629 GMT) European stocks are set to slip at the open after the U.S.-China trade war ramped up againfollowing a Bloomberg report that the U.S. is preparing to announce tariffs on all remainingChinese imports by early December if talks next month between Donald Trump and Xi Jinping fail. Asia shares recouped early losses and crept higher on Tuesday as China made a fresh attemptto stabilise its stock markets, but the gains looked fragile amid fears of a sharp escalation inthe U.S.-China trade war. In another development in the trade war which is being fought not only over goods but alsointellectual property (IP), President Donald Trump's administration took action on Monday to cutoff a Chinese state-backed chipmaker from U.S. suppliers amid allegations the firm stole IP fromU.S. semiconductor company Micron Technology Inc. Plenty to look out for in the UK as well this morning with most of the market-movingpolicies from Hammond's budget speech announced after the close. A "digital services tax", which has been dubbed a "Google" tax, targets the revenue onlineplatforms make in the UK and hit Boohoo and Asos shares yesterday. Airlines could be hurt after the government announced Air Passenger Duty would be frozen forshort-haul flights but would rise in line with inflation for long-haul. And gambling companies could be bruised by an increase in the "Remote Gaming Duty" - taxespaid by offshore gambling companies. Spreadbetters IG see the FTSE opening 16 points lower at 7,011, Frankfurt's DAX opening 4points lower at 11,332 and Paris' CAC to open 5 points higher at 4,994. (Helen Reid) ***** (Reporting by Helen Reid, Danilo Masoni, Julien Ponthus)