Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your
thoughts on market moves: josephine.mason.thomsonreuters.com@reuters.net
ON OUR RADAR: SUPERMARKETS, AIRLINES (0558 GMT)
It's relatively quiet on the corporate front, but supermarkets and airlines are catching a
few early headlines.
Casino is in talks to sell its French discount store chain Leader Price to German
low-cost rival Aldi, the latest move by the French retailer to cut debts.
There are more ructions in the airline and travel sector: French budget airline XL Airways
has become the latest example of low-cost airlines running into financial trouble amid sector
overcapacity as it suspended ticket sales and.
Meanwhile a rescue deal for Thomas Cook is facing fresh uncertainty after the travel
firm was hit with a demand for extra funds and a panel of bankers delayed a decision that might
have won credit investors over to a deal.
Here are your early headlines:
Thomas Cook hit with extra funding demand, threatening rescue
Mediaset strikes deal to fend off Vivendi's withdrawal risk
Philips to sell remaining 10.7% stake in Signify for 357 mln euros
Belgian police search home of new KPN CEO - reports
France's CNP and Brazil's Caixa seal $1.7 bln insurance deal
Casino in talks to sell discount chain Leader Price to Aldi
Air France and easyJet drop Aigle Azur bids as liquidation looms
(Josephine Mason)
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ENDING A 'STRANGE' WEEK (0521 GMT)
If it stays under pressure today, the euro-zone STOXXE benchmark will register its
first weekly drop in five reflecting the disquiet from the drone attacks on Saudi Arabia, trade
tensions, central bank stimulus and the spikes in overnight lending rates that roiled bonds
markets and briefly derailed the rally in banking stocks.
The pan European STOXX 600 is proving a little more robust, on track for a 1.2%
rise, its fourth straight weekly gain.
As Michael Hewson, chief market analyst at CMC Markets UK says: "It's been a bit of a
strange week for equity markets."
The lack of any escalation (in Saudi Arabia) so far appears to have tempered a good
proportion of this week’s surge higher, in the oil price, prompting equity markets to recover
from their lows, nonetheless there remains a significant amount of unease as to what might
unfold over the course of the next few days and weeks."
"As a result of this uncertainty equity markets have struggled to push on significantly from
the gains, we’ve seen over the course of the previous three weeks, with US markets struggling to
push on beyond their previous record highs from July."
IG financial spreadbetters expect London's FTSE to open 30 points lower at 7,327,
Frankfurt's DAX to open 21 points lower at 12,437, and Paris' CAC to open 10 points lower at
5,649.
(Josephine Mason)
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(Reporting by Danilo Masoni, Josephine Mason and Thyagaraju Adinarayan)