LIVE MARKETS-Shell overhaul, more M&A, and chipmakers on our radar

* European shares seen lower

* Chaos marks first Trump-Biden debate

* China's factory activity accelerates

* Euro STOXX 50 futures down 0.9%
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) and Danilo Masoni (danilo.masoni@thomsonreuters.com) in
Milan.

SHELL OVERHAUL, MORE M&A, AND CHIPMAKERS ON OUR RADAR (0652 GMT)

The chaotic Trump-Biden debate did nothing to soothe worries over a contested election
outcome and it barely moved the needle in betting markets, which give a narrow Biden victory.

It may be little surprise then that U.S. futures are currently taking a hit, down more than
1%, and the open in Europe isn't going to be much different.

The positive China data may have a negligible impact on sentiment, while a Reuters report
that the WTO has authorized the EU to impose tariffs on U.S. goods worth $4 billion has raised
the prospect of more trade frictions ahead.

In corporate news, Royal Dutch Shell announced on Wednesday plans to cut up to
9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas
giant to low-carbon energy. Its shares are seen up 1%.

M&A continues with German plastics maker Covestro buying Dutch peer DSM's
Resins and Functional Materials business for about 1.6 billion euros. The news is set
to weigh on Covestro shares, which fell 2.9% in early trade.

In the UK, William Hill has agreed to be acquired by Caesars Entertainment.

In earnings, a downbeat sales forecast from chipmaker Micron could have a negative
readacross for sector peers here in Europe. Infineon shares fell more than 1% in
premarket trade.

In more positive news, Swiss adhesives and construction materials maker Sika looked
upbeat. It confirmed its target for annual sales growth of 6-8% until 2023 and said it expects
more favourable second-half market conditions even as the COVID-19 pandemic continues.

British online fashion retailer Boohoo reported a 51% increase in first half profit
and raised its full year guidance, while shares in IT solutions supplier S&T rose
1.9% in premarket trade after saying it may exceed full year 2020 guidance.

The world's largest catering firm Compass however expects annual organic revenue to
fall by 19% and said it would impair about 100 million pounds worth of assets as it reviews its
contracts to deal with the blow from the COVID-19 pandemic.

Eyes also on exchange stocks such as Deutsche Boerse, Euronext and LSE
after news that Trump's antitrust chief will scrutinize Wall Street data feed pricing
heavily hit shares in US exchange stocks.

On the COVID-19 treatment front there is some good news. A single dose of Johnson &
Johnson's experimental vaccine produced a strong immune response against the novel coronavirus
in an early-to-mid stage clinical trial, while GSK said it was optimistic
the industry will be able to make an immunisation against COVID-19 widely available next year.

(Danilo Masoni)

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MORNING CALL: GOING DOWN POST TRUMP-BIDEN DEBATE (0534 GMT)

Shares in Europe look set for a lower start this morning as a chaotic Trump-Biden debate,
which did little to soothe worries about a contested election, outweighs positive data from
China, where factory activity expanded at a faster pace in September.

Euro STOXX futures were last trading down 0.6%, adding to losses seen yesterday
when markets pulled back after a big rally at the start of the week.

Over in Asia, shares rose slightly with MSCI's broadest index of Asia-Pacific shares outside
Japan up 0.2%, while U.S. futures were last showing declines of 0.7%.

(Danilo Masoni)

*****