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Share Price: 9,166.00
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LIVE MARKETS-Trump-Biden debate, Brexit talks, M&A on our radar

Tue, 29th Sep 2020 07:51

* European shares seen little changed

* Eyes on Trump-Biden debate after market close

* Brexit talks resume today

* Euro STOXX 50 futures down 0.2%
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.

TRUMP-BIDEN DEBATE, BREXIT TALKS, M&A ON OUR RADAR (0650 GMT)

European stock futures are pointing to an unexciting open this morning with markets awaiting
for developments in the U.S. presidential elections and Brexit talks to provide new direction
after yesterday's bank-driven powerful bounce back.

The first Trump-Biden televised debate later on is no doubt the highlight of the day but
that's only going to start after U.S. markets close, while on Brexit investors see scope for a
compromise as trade talks resume today.

EU negotiators have reportedly signalled for the first time that they are willing to begin
work on a joint legal text of a trade agreement with the UK.

Euro STOXX 50 futures are down 0.2%.

On the corporate front it looks pretty quiet so far.

In M&A, sources told Reuters that consumer goods group Reckitt Benckiser Group is
preparing to sell some of its non-core personal care brands which could be worth as much as 1
billion pounds.

A Bloomberg report said Uber is considering a purchase of BMW-Daimler's
ride-hailing joint venture Free Now, while still in automotive, supplier Hella is
selling its front camera software business to Volkswagen for around of 100 million
euros.

Fnac started exclusive talks with Mirage Retail to sell its Dutch unit. [nASN000DR6

Elsewhere there is plenty of news about legal actions. Here are some headlines:

U.S. pension funds sue Allianz after $4 bln in coronavirus losses

LVMH countersues Tiffany in bid to drop $16 bln acquisition

Fiat to pay $9.5 mln U.S. fine for misleading investors on emissions audit -SEC

In earnings, updates from Next Greggs, B&M, and Card Factory
in the UK look good at a first glance.

(Danilo Masoni)

*****

MORNING CALL: BOUNCE BACK LOSING STEAM (0530 GMT)

European shares are set to open slightly higher this morning, building on yesterday's strong
rally that saw the STOXX 600 regional benchmark score its biggest one-day gain since June, up
2.2%, in a powerful rebound led by the battered banking sector.

Futures show modest gains at the moment, suggesting the bounce back is somewhat losing steam
and that investors may soon be needing new catalysts to provide direction.

And there are several fronts to keep an eye on, from debate over stimulus, the U.S.
presidential elections, Brexit talks and the second wave of COVID-19 infections.

Euro STOXX 50 futures are up just 0.1% and still haven't recovered all the ground they lost
last week.

(Danilo Masoni)

*****

More News
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British consumers curb their shopping in rainy July

Retail sales -1.2% m/m in July vs Reuters poll -0.5%

*

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H&M probes alleged Myanmar factory abuses as pressure intensifies

Cases of worker abuses at garment factories soar -report

*

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Britain's M&S raises profit outlook after strong trading

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*

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Now expects profit growth in 2023-24 year

*

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IN BRIEF: Next finance director sells shares worth GPB380,000

Next PLC - Leicester-based clothing and homewares retailer - Group Finance Director Amanda James sells 5,500 shares at price of GBP69.03 each for a total of GBP379,665 on Friday. Jeff James, a person associated with Amanda James, also sells 5,500 shares at a price of GBP69.03 each for a total of GBP379,665 on Friday.

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(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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Next ups annual guidance on positive full-price sales performance

(Alliance News) - Next PLC on Thursday raised its full-year profit guidance by GBP10 million amid a solid full-price sales performance in the first half of its financial year.

Read more

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