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* European shares seen opening down sharply
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters and anchored today by Joice Alves. Reach her on Messenger to share your
thoughts on market moves: joice.alves.thomsonreuters.com@reuters.net
ON OUR RADAR: LUXURY AND AIRLINES (0759 GMT)
Futures point to a lower start of the week for European bourses as investors are growing
anxious about the economic impact of China's spreading virus outbreak.
Traders are seeing European airlines and luxury stocks opening down 1-2%, while
China-exposed miners should come under pressure too.
There will also be some results to digest: Traders are seeing Landis+Gyr Group
down 3-3.5% after company confirmed FY 2019 guidance at lower end of all ranges.
Petra Diamonds 1H revenue fell 6%, dented by lower prices as the diamond industry
grappled with soft demand from China because of the trade war with the U.S. and the
anti-government protests in Hong Kong.
In the retail space, one trader is seeing H&M down 1% after it said on Saturday
that data security breaches found at its German unit were unacceptable and it was cooperating
with authority. [nL8N29U0FA}
Reuters reported that a Swuss regulator probes board role in Credit Suisse spying
scandal, as the spying debacle risks tipping the bank into a crisis that could engulf its top
executives.
In terms of M&A, Swiss food giant Nestle bought Allergan's medical nutrition
business Zenpep. And the founder of British subprime lender Amigo is
putting his 60.6% stake of the company on the block. Amigo is seen 5% lower this morning.
(Joice Alves)
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EUROPEAN STOCKS SEEN LOWER (0642 GMT)
Bourses in Europe are expected to open slightly lower imitating Asian markets as investors
are growing increasingly worried about the economic impact of China's spreading virus outbreak.
Last week, investors took some relief when the World Health Organisation said the
coronavirus outbreak was an emergency in China but not yet a global one. But they are now
getting more anxious as more cases add on.
Back in Europe, investors will have a week long of political events to digest: Yesterday,
Italy's right-wing leader Matteo Salvini failed in his effort to overturn decades of leftist
rule in Emilia-Romagna, one of Italy's richest regions, home for Ferrari luxury cars.
Later this week, Britain is due to leave the EU and said it will set out more details about
its objectives for a free trade deal with the European Union after the country leaves the bloc
on Friday.
Taking all into consideration, financial spreadbetters at IG expect London's FTSE to open 75
points lower at 7,585, Frankfurt's DAX to open 164 points lower at 13,576 and Paris' CAC to open
75 points lower at 6,028.
(Joice Alves)
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(Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)
