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DIVIDEND STOCKS DOMINATE FTSE HIGH RISERS (0917 GMT)
Investors in UK equities are increasingly favouring ones that pay a dividend, as the narrative shifts from making money to protecting it, according to AJ Bell.
"Growth stocks have gone from invincible to un-investable in the eyes of many investors, while commodity producers have also lost their shine of late, depressed by concerns that economic activity is grinding to a halt", said Russ Mould, investment director at AJ Bell in a note.
A combination of inflation, rising interest rates, economic slowdown, the Ukraine war, Covid lockdowns in China, weakness in consumer spending and concerns around business investment sentiment have worried investors.
Mid-to-high yielding stocks are dominating the top risers on the FTSE 100 today, when sorted by index points.
The list is led by Unilever and HSBC, up 2% and 1.7% respectively.
(Lucy Raitano)
EUROPEAN STOCKS TICK HIGHER BUT SENTIMENT WARY (0747 GMT)
After four days of screens flashing red, European shares are gaining this morning, with up 0.7%.
The rise is modest since the pan-European index remains at near two-month lows.
Automobiles and parts are ahead, rising 1.9%, followed by construction and materials, up 1.8%.
Only healthcare and oil and gas are lower this morning, down 0.1% and 0.4% respectively.
Soaring Swedish Match shares are at the top of the index today, up 25% after U.S. rival Philip Morris International Inc said it was in talks to buy the Stockholm-based tobacco products company.
Poland's Dino Polska is a not so close second, up 6.9%.
Norway's Kongsberg Gruppen is falling 8.5% as shortages and logistical issues weighted on its Q1 results.
WAITING FOR CHINA (0732 GMT)
Earlier this year, investors' fears of an aggressive Fed rate hike cycle were tempered by signs China was looking to ease policy. That would offset, at least partly, Fed tightening, the reasoning went.
Instead, Beijing has more or less sat on its hands, offering the odd pledge of policy support, as it did on Monday. Despite dismal economic data, it is not flinching at locking down swathes of cities against COVID, and it has not blocked the yuan's descent versus the dollar to 19-month lows.
Aside from questions around how bad things might be inside the world's No. 2 economy, another risk, highlighted by long-standing China bull BlackRock, is that of fresh tensions with the West around Beijing's tacit support for Russia. BlackRock said on Monday it had trimmed China exposure.
With economic growth concerns displacing inflation in markets' psyche as the biggest worry, the S&P 500 closed under 400 points for the first time in a year, oil is extending Monday's 5% fall and bond yields have slipped.
For Tuesday, an equity bounce may be on the cards, with U.S. futures tipping a firmer Wall Street session and European stocks are opening higher.
It could of course be all about technicals. Bearish S&P 500 positioning has been near record highs, Citi data shows, and at two-year highs for European blue chips. Having benefited from recent market falls, some bears may look to deploy those profits, Citi reckons.
Data just out shows UK shoppers cutting back on spending. and now the wait is on for Germany's ZEW investor sentiment index.
Later in the day, a raft of speeches from Fed officials will be perused to gauge whether 75 basis-point rate hike installments remain on the table. Or conversely, for any sign the Fed is taking note of economic growth worries.
Key developments that should provide more direction to markets on Tuesday: - EXCLUSIVE-Germany prepares crisis plan for abrupt end to Russian gas - Sony's Q4 operating profit more than doubles -Bank of England Monetary Policy Committee member Michael Saunders -Fed speakers: Minneapolis Fed's Neel Kashkari, Fed governor Christopher Waller; New York Fed's John Williams; Atlanta Fed's Raphael Bostic, Cleveland Fed's Loretta Mester -ECB Vice President Luis de Guindos -U.S. Treasury 3-year note auction -Romania central bank may hike rates by 100 bps to 4% -U.S. earnings: 20th century Fox, Occidental -European earnings: Bayer, Munich Re, Endesa
(Sujata Rao)
EUROPEAN SHARES SET TO GAIN AFTER HEAVY SELLING: (0627 GMT)
European futures show stocks clawing black some of the last week's steep losses, even as Asian shares slid to their lowest level in two years overnight.
Futures for the pan-European STOXX index and German futures are about 1.2% up while FTSE futures are less bullish, 0.5% higher.
After four days of heavy selling, the STOXX 600 to its lowest level since early March on Monday, while U.S. stocks also plunged amid fears that the Fed's tightening policy won't be enough to curb inflation. Asian shares continued the downward slide, and commodity prices also declined on Monday.
In European company news, Philip Morris International is in talks to buy rival Swedish Match and Italian energy services group Saipem is working to bring forward a planned 2 billion euro ($2.12 billion) capital increase and carry it out in the summer, CEO Francesco Caio told Italian newspaper Il Sole 24 Ore.
Ramifications of the conflict in Ukraine continue to dominate, with German officials are preparing for any sudden halt in Russian gas supplies with an emergency package that could include taking control of critical firms.
