* European shares open lower: STOXX 600 down 0.5%
* Ted Baker down as much as 35% after outlook cut
* Eyes on Deutsche Bank strategy update, shares up
* Asia shares fall slightly as trade deadline looms
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your
thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net
OPENING SNAPSHOT: STOXX DOWN, TED BAKER TANKS, DEUTSCHE BANK UP (0828 GMT)
European shares are off to a waker start today with main benchmark indexes falling between
0.2% and 0.6% and most sectors trading in the red. Caution ahead of this week's big events --
FOMC, ECB, UK vote and Dec. 15 trade deadline -- is tangible.
Among individual stocks, UK small cap Ted Baker has fallen as much as 35% to 16-year
lows after the UK fashion retailer cut its outlook once again, suspended its dividend, and
announced the resignation of its CEO and chairman. The stocks is last down 16%.
Elsewhere eyes are on Deutsche Bank, which is rising more than 1.1% as the
troubled German lender is giving a strategy update for investors.
Still on the STOXX 600, Colruyt is getting a nice boost, up 6.7%, after
well-received H1 results, while Tullow Oil is in rebound mode after taking a 70% hit
yesterday after scrapping its dividend and announcing the exit of its CEO.
Here's your opening snapshopt:
(Danilo Masoni)
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WHAT WE'RE WATCHING AT THE OPEN (0750 GMT)
European shares are expected to open little changed as markets keep moving sideways ahead of
U.S. and euro zone central bank meetings, the UK election and the tariff deadline this week.
Futures on main euro zone benchmarks were led lower by a 0.2% drop in DAX futures, while FTSE
futures edged up 0.1%.
On the corporate news front, Deutsche Bank shares rose 0.9% in early trade after
the German lender reaffirmed its cost targets and said it would report a CET 1 ratio above 13%
for end 2019.
Still in Germany, shares in Deutsche Boerse were seen falling 1% after the
Sueddeutsche Zeitung reported late on Monday that finance minister has drawn up a draft law that
envisages introducing a financial transaction tax in 10 European Union countries.
Eyes also on French car parts maker Valeo which said it planned to double its free
cash flow generation from 2020 to 2022 to reach between 1.3-1.5 billion euros.
Elsewhere there could be some big moves among small and mid caps.
Ted Baker is seen falling 20-25% after its CEO and chairman stepped down and the
fashion retailer cut its full-year outlook again and suspended its dividend.
Computacenter instead could get a 5-10% lift after the company said trading result
will be ahead of market expectations.
(Danilo Masoni)
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MORNING CALL: MIXED (0631 GMT)
European shares are expected to open mixed this morning as investors stay on the sidelines
ahead of the Dec. 15 deadline for new U.S. tariffs on China imports to kick in, with the general
election in the UK on Thursday and central banks meeting also making for the cautious mood.
Spreadbetters at IG expect London's FTSE to open 7 points higher at 7,241, Frankfurt's DAX
to open 12 points lower at 13,094 and Paris' CAC to open 4 points lower at 5,833.
Over in Asia, shares eased slightly, while Wall Street pulled back overnight ahead of the
tariff deadline.
(Danilo Masoni)
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(Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)
