Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

LIVE MARKETS-On the radar: Corporate top news overload

Wed, 30th Oct 2019 07:37

* European shares seen opening little changed

* Fiat Chrysler and PSA confirm tie-up talks

* Bank earnings in focus: DB, CS, StanChart, Santander

* Federal Reserve seen cutting rates, focus on policy outlook
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your
thoughts on market moves: julien.ponthus.thomsonreuters.com@reuters.net

ON THE RADAR: CORPORATE TOP NEWS OVERLOAD (0736 GMT)

Futures have opened sideways with no clear directional trend in Europe.

What's clear however is that there is such a huge flow of corporate news that it will be
difficult to be sure not to have missed anything before the open and the market, which tends to
be quite unforgiving these days, gives its verdict.

Before getting in the Q3 action, let's first flag out a major piece of news in the auto
industry with Fiat Chrysler confirming talks with French rival PSA for a
potential tie-up.

News of the tentative merger comes as Germany's Volkswagen lowered its full-year
outlook for vehicle deliveries, warning of slowing demand.

Lots to take in the banking industry too:

Deutsche Bank reports 832 million euro Q3 loss on restructuring

StanChart flags growth, interest rate headwinds after Q3 profit beat

Credit Suisse doubles Q3 net profit

Santander Q3 net profit falls 75% as UK charges offset Brazil strength

But there are heavyweights across all sectors making headlines this morning so in no
particular order, he's the rest of the top news: click here to get it on Eikon:

Airbus cuts delivery goal on Hamburg plant snags

Record Q3 output boosts Total's cash flow, low prices hit profit

Lower oil and gas prices weigh on OMV Q3 profit

Bayer says number of glyphosate plaintiffs jumps to 42,700

Clariant Q3 profit and sales fall as economic climate worsens

Angry Birds maker Rovio's Q3 profit halves year-on-year

EssilorLuxottica confirms 2019 targets after stronger Q3 sales

Britain's Next keeps full year guidance after Q3 sales rise

(Julien Ponthus)

*****

FED WATCHING, Q3 GALORE AND THE XMAS BREXIT ELECTION (0542 GMT)

Christmas will come early to the UK this year, precisely on December 12 in the form of a UK
general election.

It's far from certain however that the polls will deliver anything on Boris Johnson or
Jeremy Corbyn's wish list but less than 48 hours ahead of Halloween, investors aren't spooked by
the prospect of the process going all wrong.

The pound is roughly stable at 1.2870 and according to IG, financial spreadbetters expect
London's FTSE to open just 7 points lower, so nothing dramatic there indeed.

Frankfurt's DAX is also seen retreating slightly at the open by 25 points but Paris is
should be flat.

With Wall Street on and off record highs, the Fed's meeting today and the expected interest
rate cut will be key, especially after it emerged that Washington and Beijing may not complete
their interim trade agreement in time to sign in Chile next month.

Amid all that news let us not forget that we are in for one of the busiest day of the Q3
season with a flurry of results such as Bayer, GlaxoSmithKline, Suez
or Total.

Last but not least, there will also be a deluge of indicators from the euro zone which
should shed more light on whether there is light to be seen at the end of the macro gloom
tunnel.

(Julien Ponthus)

*****
(Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)

Related Shares

More News
Today 16:28

Intesa targets new digital-only clients after antritrust blow

Antitrust ruling derailed client migration timetable *

Today 13:37

UK shareholder meetings calendar - next 7 days

Today 09:14

LONDON BROKER RATINGS: Jefferies cuts AJ Bell; Deutsche likes ConvaTec

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

2 May 2024 17:38

European shares ease after Fed decision, mixed earnings

ING jumps on new share buyback, strong Q1 *

2 May 2024 17:06

FTSE 100 boosted by strong earnings from Shell, StanChart

StanChart jumps after posting a 5.5% rise in pretax profit *

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.