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 Stefano Rebaudo
(stefano.rebaudo@thomsonreuters.com) and Danilo Masoni (danilo.masoni@thomsonreuters.com) in
Milan.
ON OUR RADAR: STMICRO, ROLLS ROYCE, BAYER (0645 GMT)
Futures are pointing for European shares in positive territory at the opening as hopes for
more U.S. stimulus measures are helping risk appetite.
In the corporate world, semiconductor manufacturer STMicroelectronics reported
preliminary Q3 revenue exceeded its expectations, boosted by a sharp rise in demand for
automotive products and microcontrollers.
Britain's Rolls-Royce would raise 2 billion pounds ($2.6 billion) in a rights issue,
1 billion through a bond offering and gain loans support to recapitalise its balance sheet.
Shares in Bayer are down 4.7% after the company announced plans for more cost
cuts, impairment charges.
Meantime, the U.S. FDA has broadened its investigation of a serious illness in AstraZeneca
Plc's COVID-19 vaccine study and will look at data from earlier trials of similar
vaccines developed by the same scientists.
On the M&A front, shares in Swiss contract drug maker Lonza are seen up 3% after
the company launched the sale of its Lonza Specialty Ingredients (LSI) unit, which could be
worth 3-3.5 billion Swiss francs ($3.25-3.79 billion).
French utility Engie moved closer to selling its stake in waste and water group
Suez to Veolia after a 3.4 billion euro offer ($4 billion).
KLM, the Dutch arm of Air France-KLM SA, has reached an agreement with its flight
staff, excluding pilots, over cost cuts needed in return for state aid.
British retailer Halfords raised its first half profit outlook as it continued to
benefit from a cycling boom during the coronavirus pandemic.
Meantime more bad news for the battered banking sector from the U.S., where the FED will
extend big bank buybacks, dividend curbs through end of year.
(Joice Alves, Danilo Masoni, Stefano Rebaudo)
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MORNING CALL: MORE STIMULUS, TOUGHER LOCKDOWN (0536 GMT)
European shares are seen in positive territory as hopes for more U.S. stimulus measures help
risk appetite.
U.S. House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin
both said they hope for a breakthrough on a coronavirus relief package, as the House postponed a
vote on a new $2.2 trillion Democratic coronavirus bill.
But growing uncertainty ahead of November's U.S. presidential election and rising
coronavirus cases in Europe capped the optimism.
British PM Boris Johnson urged people to obey rules imposed to tackle an accelerating second
wave of the pandemic outbreak, adding that otherwise a tougher lockdown could be implemented.
Investors will also be watching EZ and UK manufacturing PMI data due to be out this morning
at 8 and 8.30 GMT.
Financial spreadbetters at IG expect London's FTSE to open 25 points higher at 5,891,
Frankfurt's DAX to open 56 points up at 12,817 and Paris' CAC to open 27 points higher at
4,830.
(Joice Alves)
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