* European stock futures flat to slightly lower
* FTSE futures down 0.3% ahead of BoE
* Brexit woes hit UK's Saga
* European steel stocks could fall on US Steel warning
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share
your thoughts on market moves: thyagaraju.adinarayan.thomsonreuters.com@reuters.net
ON OUR RADAR: STEEL, UK RETAIL, SWISS WATCHES (0652 GMT)
Stock futures are pointing to a weak open for Europe as the Fed's commentary overnight
signalled further cuts are unlikely after two back-to-back quarter point cuts. Investors are now
looking forward to the Bank of England's statement later today to see if some easing is on the
horizon amid the ongoing Brexit saga.
FTSE 100 stock futures (-0.3%) are under pressure ahead of BoE at 1100 GMT and as
mining stocks could take a hit on falling iron ore prices.
European steel and industrial stocks ArcelorMittal, Salzgitter,
Voestalpine, SSAB, Outokumpu and ThyssenKrupp in focus
after US Steel's warning about weakening demand overnight, which sent the company's shares
down 7%. U.S. Steel said market conditions in Europe have continued to deteriorate with
significant margin compression.
No end to Brexit woes for UK corporates? Over-50s tourism and insurance firm Saga
reported a 52% drop in H1 profits and said the uncertainty around the timing of Britain's exit
from the EU is hurting consumer willingness to commit to 2020/21 holidays.
Next shares are expected to slide 1%-2% after traders say the British clothing chain
said the few weeks of the Autumn season have been disappointing due to the warmer weather.
Spectris shares are seen rising 2% after its plan to sell unit BTG.
Swiss watchmakers Swatch and Richemont are seen up 1% on strong Swiss watch
export data. German construction and machinery manufacturing company Bauer is seen
falling 10% after it warns of FY profits citing project delays, according to traders. Bauer's
warning is the latest evidence of a slowdown in Europe No.1 economy.
Other key headlines:
Clariant fined by Swiss exchange for breaking publication rules
Airbus revises up jet demand, warns of 'lose-lose' tariff war
GSK's over-the-counter nicotine oral spray gets FDA panel backing
Deutsche Bank has discussed adding assets to bad bank if sales go well-sources
UK's Next profit up 2.7% on strong online growth
Swiss raid stomach ache drug ingredient makers in competition probe
BUZZ-United States Steel falls after gloomy outlook
Brazil's Oi in talks to sell mobile unit to Telecom Italia, Telefonica -sources
Britain's Saga posts first-half profit slump
German prosecutors probe Airbus for potential misuse of client documents
Diageo sets full-year organic sales forecast, says not immune to trade changes
(Thyagaraju Adinarayan)
*****
FED'S DELIVERED, NOW FOCUS SHIFTS TO BOE (0537 GMT)
European stocks are expected to open flat to slightly lower after the Fed cut interest rates
by a quarter point and signalled further cuts are unlikely as the labour market remains strong.
With Fed out of the way, focus shifts to Bank of England which is expected to come out with
a monetary policy statement at 1100 GMT.
"Bank of England rate decision is likely to be a more mundane affair given the proximity of
the Brexit deadline at the end of October. No changes are expected to monetary policy with the
main focus expected to be on how it sees the UK economy evolving over the next few months,"
Michael Hewson at CMC Markets UK says.
Financial spreadbetters IG expect London's FTSE to open 14 points lower at 7,300,
Frankfurt's DAX to open 8 points lower at 12,382, and Paris' CAC to open flat at 5,621.
While the U.S. stock markets hardly reacted to Fed's action, the U.S. President expressed
his disappointment on Twitter:
(Thyagaraju Adinarayan)
*****
(Reporting by Danilo Masoni, Josephine Mason and Thyagaraju Adinarayan)
UK earnings, trading statements calendar - next 7 days
Thursday 25 April | |
Aquila European Renewables PLC | Full Year Results |
Argo Blockchain PLC | Full Year Results |
AstraZeneca PLC | Q1 Results |
Barclays PLC | Q1 Results |
Checkit PLC | Full Year Results |
Coca-Cola Europacific Partners PLC | Trading Statement |
Destiny Pharma PLC | Full Year Results |
Dillistone Group PLC | Full Year Results |
Focusrite PLC | Half Year Results |
Gem Diamonds Ltd | Trading Statement |
Hikma Pharmaceuticals PLC | Trading Statement |
Hummingbird Resources PLC | Trading Statement |
Ibstock PLC | Trading Statement |
Inchcape PLC | Trading Statement |
J Sainsbury PLC | Full Year Results |
London Stock Exchange Group PLC | Q1 Results |
Persimmon PLC | Trading Statement |
Pinewood Technologies Group PLC | Full Year Results |
PPHE Hotel Group Ltd | Trading Statement |
PureTech Health PLC | Full Year Results |
Relx PLC | Trading Statement |
Renewi PLC | Trading Statement |
Schroders PLC | Q1 Results |
Skillcast Group PLC | Full Year Results |
Travis Perkins PLC | Trading Statement |
Trifast PLC | Trading Statement |
Unilever PLC | Q1 Results |
WAG Payment Solutions PLC | Trading Statement |
Weir Group PLC | Trading Statement |
WH Smith PLC | Half Year Results |
WPP PLC | Trading Statement |
Zinc Media Group PLC | Full Year Results |
Friday 26 April | |
Facilities by ADF PLC | Full Year Results |
Kingspan Group PLC | Trading Statement |
Loungers PLC | Trading Statement |
NatWest Group PLC | Q1 Results |
Pearson PLC | Trading Statement |
Record PLC | Trading Statement |
Smurfit Kappa Group PLC | Trading Statement |
Taylor Maritime Investments Ltd | Trading Statement |
Monday 29 April | |
Beazley PLC | Trading Statement |
Biome Technologies PLC | Full Year Results |
Christie Group PLC | Full Year Results |
Gresham House Energy Storage Fund PLC | Full Year Results |
Gresham Technologies PLC | Full Year Results |
Jadestone Energy PLC | Full Year Results |
Oxford BioMedica PLC | Full Year Results |
SpaceandPeople PLC | Full Year Results |
Tuesday 30 April | |
Avacta Group PLC | Full Year Results |
Card Factory PLC | Full Year Results |
Capital & Regional PLC | Full Year Results |
Close Brothers Group PLC | Trading Statement |
Coca-Cola HBC AG | Trading Statement |
Elementis PLC | Trading Statement |
essensys PLC | Half Year Results |
Fadel Partners Inc | Full Year Results |
Glencore PLC | Trading Statement |
Hargreaves Lansdown PLC | Trading Statement |
Howden Joinery PLC | Trading Statement |
HSBC Holdings PLC | Q1 Results |
Kelso Group PLC | Full Year Results |
Northcoders Group PLC | Full Year Results |
Phoenix Spree Deutschland Ltd | Full Year Results |
RBG Holdings PLC | Full Year Results |
Rotork PLC | Trading Statement |
Safestore Holdings PLC | Half Year Results |
Shield Therapeutics PLC | Full Year Results |
St James's Place PLC | Trading Statement |
Strip Tinning Holdings PLC | Full Year Results |
Whitbread PLC | Full Year Results |
Wednesday 1 May | |
Computacenter PLC | Trading Statement |
GSK PLC | Q1 Results |
Haleon PLC | Trading Statement |
HSS Hire Group PLC | Full Year Results |
Intelligent Ultrasound Group PLC | Full Year Results |
Maintel Holdings PLC | Full Year Results |
Next PLC | Trading Statement |
Smith & Nephew PLC | Trading Statement |
Comments and questions to newsroom@alliancenews.com | |
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