Thomas Cook Share News (TCG)

* European shares open lower
* Investors wait for clarity on Sino-US talks
* Travel sector stocks gain after Thomas Cook collapses
* Weak French, German PMIs disappoint

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EUROPE DIPS, THOMAS COOK COLLAPSE LIFTS TRAVEL STOCKS (0738 GMT)
European shares are off to a slightly weaker open but the collapse of Thomas Cook that has
left hundreds of thousands of travellers stranded is giving a lift to rivals of the UK firm,
while airlines are also getting a lift on expectations that the failure of the world's oldest
travel firm will remove some overcapacity.
Travel agent TUI has shot up 8.1%, making it the biggest gainer on the STOXX 600
and set for its biggest one-day gain since April, while budget airlines easyJet and
Ryanair are rallying 5.7% and 2.8% respectively.
The FTSE 350 travel & leisure index has hit its highest since October 2018, up
0.7%, while Europe's broader travel & leisure index is up 0.4%.
Elsewhere losses prevailed on fresh uncertainty over the course of trade talks between the
US and China, while investors were disappointed by weak German and French PMI.
The STOXX 600 was last down 0.7%, while the FTSE was flat, helped by a weaker
pound, as you see in the snapshot:

(Danilo Masoni)
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WHAT'S ON OUR RADAR (0659 GMT)
European shares are expected to start the week on a softer footing amid fresh uncertainty
over Sino-U.S. trade talks, with futures pointing to losses of around 0.2-0.3% for major
euro-zone benchmarks while a weaker pound could help the FTSE outperform.
On the corporate front, eyes on the travel sector after the world's oldest travel firm
Thomas Cook collapsed, entering compulsory liquidation and leaving hundreds of thousands
of travellers stranded. Thomas Cook shares have been suspended with immediate effect.
Two traders said travel operator TUI could benefit from the demise of its rival
and sees TUI shares opening up 4%. Eyes also on airlines, which could be supported as Thomas
Cook’s collapse is expected to remove overcapacity in the sector.
But package holiday provider On The Beach has warned of a one-time charge as it
makes alternate arrangements for passengers affected by the shutdown. Other stocks linked to
tourism such as Amadeus, Melia and NH HOTEL will also be on
investors' radars.
Elmos Semiconductor is seen rising as much as 5% after it agreed to sell Silicon
Micro, while German real estate company Vonovia could be hit after it agreed to buy
Swedish Hembla from Blackstone. Still in dealmaking, Bloomberg reported that private equity firm
Advent is in talks to join Bain in its takeover bid for Germany's Osram, a move that
could further fuel the bidding war with AMS for the lighting group.
A profit warning from Deutz is seen sending shares in the engine maker down 5%.
Marks & Spencer Group Plc is seen under pressure after its CFO stepped down after little
more than a year. In the battered banking sector, Spanish banks could benefit after S&P’s
upgraded the country's credit rating.
Other stock movers: Vivendi set to widen legal battle against Mediaset beyond Italy-sources;
Utility EDF warned of a 24-hour strike starting Monday Sept. 23; Sports Direct makes cash offer
for Goals Soccer Centres; Deutsche Bank, BNP reach transition agreement for global prime finance
platform; Budget carrier XL Airways seeks rescue deal with Air France; UBS won't pass negative
interest rates to small savers -COO
(Danilo Masoni)
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EUROPE SEEN STARTING WEEK DOWN SLIGHTLY (0530 GMT)
European shares are expected to start the week on a weaker footing following losses in Asia
overnight and ahead of the latest flash PMI data for services and manufacturing.
Spreadbetters at IG expect London's FTSE to open 6 points lower at 7,339, Frankfurt's DAX to
open 32 points lower at 12,437, and Paris' CAC to open 15 points lower at 5,676.
Most Asian share markets fell as investors waited for more clarity on the Sino-U.S. trade
talks after recent negotiations.
(Danilo Masoni)
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(Reporting by Danilo Masoni, Josephine Mason and Thyagaraju Adinarayan)