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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 with Joice Alves (joice.alves@thomsonreuters.com)
and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Danilo Masoni
(danilo.masoni@thomsonreuters.com) and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in
Milan.
ON THE RADAR: VACCINE DEVELOPMENTS, AB FOODS (0641 GMT)
European stocks are set to open higher as worries about a U.S. tech selloff eased after the
Nasdaq on Friday closed lower but well above its session low with Apple scoring a tiny gain for
the day.
More news on the vaccine front with Australia expecting to receive its first batches after a
deal struck with CSL to manufacture two vaccines - one developed by rival AstraZeneca
and Oxford University, and another developed in CSL's own labs with the University of
Queensland.
Meanwhile Sanofi's chief in France said a vaccine that Sanofi is developing with
Britain's GlaxoSmithKline was likely to be priced at less than 10 euros.
Associated British Foods expects full-year profit at its Primark fashion chain to be
at least at the top end of its previously guided range after trading in its latest quarter
exceeded expectations.
Italy's Treasury wants to find a buyer for Monte dei Paschi di Siena by the end of
the year to help the bailed-out bank to clean up its remaining problem loans.
Italy is close to reaching an agreement over the future of Atlantia unit Autostrade
per l'Italia, Prime Minister Giuseppe Conte said on Saturday in an interview. Progress has been
slowed recently by difficulties in agreeing a valuation for the unit with state lender Cassa
Depositi e Prestiti (CDP), which is due to take control of Autostrade.
Ryanair boss Michael O'Leary's proposed 458,000 euro annual bonus came under fire on
Friday, as an influential investor advisory firm urged shareholders to oppose the package.
(Stefano Rebaudo)
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MORNING CALL: IN THE BLACK DESPITE U.S. TECH LOWER (0533 GMT)
European stock futures are in the black despite a new selloff in tech shares on Wall Street
on Friday and Asian stocks on their back foot worried about high valuations.
The Nasdaq on Friday closed lower but well above its session low as selling eased late in
the session, with mega-cap tech companies paring losses though only Apple managed a
tiny gain for the day.
Investors are still uncertain about whether the U.S. is staging just some profit taking or a
massive risk-off move is on its way.
Some traders said a pile of red flags was building up, while mentioning Softbank. Its shares
fell 7% following media reports that the conglomerate made big bets on equity derivatives tied
to listed tech companies.
(Stefano Rebaudo)
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