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LIVE MARKETS-On the radar: cars, retailers and drugmakers

Fri, 21st Aug 2020 07:41

Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters. You can share your thoughts with Joice Alves (joice.alves@thomsonreuters.com)
and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo
(stefano.rebaudo@thomsonreuters.com) in Milan.

ON THE RADAR: CARS, RETAILERS AND DRUGMAKERS (0639 GMT)

European bourses are seen opening higher with eurozone and UK purchasing managers' index
surveys due this morning. Steady, slightly positive, readings are expected, for the next broad
gauge of the recovery's progress.

Meantime, data just showed that British retail sales surged past their pre-coronavirus level
in July, the first full month that shops selling non-essential goods were open since the country
went into lockdown in March.

In terms of corporate news, the morning looks super quiet but investors still have a few
headlines from last evening to digest.

For instance, German automaker Volkswagen has begun production of the ID.4
compact SUV, the second model in a planned family of electric vehicles that will be built and
sold around the world.

In the health care space, Novartis won FDA approval to repurpose an 11-year-old
blood cancer drug against multiple sclerosis as the Swiss drugmaker takes on rival Roche's ROG.S
big-selling Ocrevus for the autoimmune disorder. While Bayer said on Thursday it will
pay around $1.6 billion to settle the majority of U.S. claims involving its Essure birth-control
device.

Activist fund Amber Capital on Thursday called on French publishing and media group
Lagardere to hold a shareholder meeting in the coming weeks, at which it wants to
submit board changes.

(Joice Alves)

*****

MORNING CALL: EUROPEAN BOURSES SEEN HIGHER AHEAD OF PMI DATA (0535 GMT GMT)

In a data-heavy morning, with eurozone and UK purchasing managers' index surveys due,
European bourses are seen opening higher.

Investors are looking ahead to PMI data across Europe, Britain and the United States.
Steady, slightly positive, readings are expected, for the next broad gauge of the recovery's
progress.

Financial spreadbetters expect London's FTSE to open 9 points higher at 6,023, Frankfurt's
DAX to open 73 points higher at 12,903 and Paris' CAC to open 25 points higher at 4,937.

(Joice Alves)

*****

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