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Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your
thoughts on market moves: julien.ponthus.thomsonreuters.com@reuters.net
ON THE RADAR: BT NATIONALISATION AND AN M&A PARTY (0755 GMT)
European stock markets are set to open higher this morning as trade war optimism, gains in
Asia and a new record high on the S&P 500 encourage traders to switch on to risk-on mode.
In this context, market attention is likely to focus on Germany’s DAX, a typical gauge of
trade war fear and greed and within the index constituents, proxies to play for the US/China
feud such as car makers.
The big news in the UK market is Labour saying it would nationalise parts of telecoms
provider BT's network if it won power in the Dec. 12 election to provide free full-fibre
broadband for all. Labour is however at the moment not expected to win the election.
On the M&A front, price action is expected in Scandinavia where Nordic property firm SBB
launched a $2.42 billion cash and shares bid for its rival Hemfosa. The price constitutes a
premium of 22.7% to the closing price on Thursday and so all eyes will be on how investors
arbitrage the price gap.
Another share under the spotlight will be Europcar after Reuters reported its main
shareholder, France’s Eurazeo, hired JP Morgan for a possible sale of its 29.8% stake.
Altice is expected to rise at the open after it said its sale of its Portuguese fibre
network was progressing well.
In the battlefield for food delivery supremacy, Germany’s Delivery Hero said it would
continue to look at every single acquisition and that Europe would break even for the full year.
In Italy, Saipem is said to be considering a deal with its rival subsea 7.
(Julien Ponthus)
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MORNING CALL: IT'S RISK ON (0635 GMT)
Another closing record for the S&P 500 and gains across Asian shares are expected to lift
European stock markets at the open.
There's a very clear "risk-on" sentiment out there with optimism and the trade war front
after White House comments suggesting Washington and Beijing are close to striking a trade deal.
Financial spreadbetters expect London's FTSE to open 37 points higher, Frankfurt's DAX to
rise 75 points and Paris' CAC to gain 29 points.
The pan-European STOXX 600 is only 11 points away of its record high of 415.18 points
reached in April 2015.
(Julien Ponthus)
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(Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)
