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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 Joice Alves (joice.alves@thomsonreuters.com) and
Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo
(stefano.rebaudo@thomsonreuters.com) in Milan.
ON THE RADAR: SWATCH, ROCHE, HELLOFRESH, OCADO (0645 GMT)
In a data-heavy morning, futures are pointing to a start of the day in the red as a risk-off
session is on track following new coronavirus worries and growing tensions between the U.S. and
China.
On the corporate front, the earnings season is getting started. Shares in Swatch Group
are down 2.3% in premarket trade after a net loss in H1 but with expectations of
improving sales and profits in the second half. Hellofresh stocks are up
5.7% in early trade after results.
British online supermarket Ocado said retail revenue soared 27% year-on-year in its
first half to May 31.
Norwegian oil firm Aker BP swung to a pretax profit in the second quarter on
record output and a partial reversal of impairments from the previous quarter.
Roche will pay up to $1.7 billion to Blueprint Medicines to help develop and
commercialise a new treatment for people with so-called RET-altered cancers that have mutations
that drive tumour growth.
Atlantia holds an extraordinary board meeting. According to several newspapers, one
idea under consideration is for Autostrade per l'Italia to be run by state-appointed
administrators, allowing the motorway operator to avoid default on its 10 billion euros of debt
and operate without interrupting services.
Cellnex eyes stake in $11 bln CK Hutchison tower arm, Bloomberg News reported.
(Stefano Rebaudo)
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MORNING CALL: RISK-OFF ON RENEWED PANDEMIC WORRIES (0533 GMT)
European futures are well in the red this morning, as U.S.-China tensions and new
restrictions in California to fight the outbreak are expected to trigger a risk-off session.
Investors are worried that new lockdowns could dampen the recovery globally, but U.S.
consumers seem more confident that the worst of the economic crisis sparked by the pandemic is
over.
In the background the earnings season getting under way, which spurred some optimism with
most companies expected to beat forecast as the bar has been set pretty low.
(Stefano Rebaudo)
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