LIVE MARKETS-What's hot

* European stocks slip

* Cineworld dips on plans to raise debt ceiling

* Giant container ship stranded in Suez Canal

March 25 - Welcome to the home for real-time coverage of
markets brought to you by Reuters reporters. You can share your
thoughts with us at markets.research@thomsonreuters.com

WHAT'S HOT (0929 GMT)

As spring kicked in with much of the Continent confined at
home facing a third wave of COVID-19, the world is watching the
speed at which people are getting a vaccine.

And as about 500 million doses of the vaccine have been
given to people globally, Jefferies has revised its coverage to
identify the European stocks with potential to surprise in the
next fiscal year.

Bearing in mind that "the pace of vaccinations by region
remains the single biggest determinant of the recovery
trajectory," Jefferies analysts say.

Earnings positive vibes could come from the following five
names as the market has yet to price in a full earnings recovery
on these Buy rated companies: ABI, BBVA,
Jet2, SAP and Societe Generale.
While positive dividend surprises could be seen in Centamin
, Glencore and Travis Perkins.

Here is a list of Jefferies recommendations:

(Joice Alves)

*****

GOOD MORNING BROKEN CORRELATIONS! (0838 GMT)

European bourses have opened in the red in a session which
is already loaded with contradictions, broken correlations and
unusual patterns.

First and foremost, it's worth noting that while the STOXX
600 is down about 0.2% in early trading, Wall Street futures are
still trading in the black, 0.3% for the S&P and 0.5% for the
Nasdaq. It's worth noting that S&P 500 fell 0.5% ahead of close
yesterday.

Second, while PMIs are one of the key indicators watched by
equity strategists, it's fair to say that yesterday's good
surprise had little positive effect.

Looking at oil prices, it's another weird one with prices
edging down despite the Suez Canal being blocked and disrupting
part of the oil trade. Rising Covid cases might be weighing?

So quite counter intuitively, the oil and gas sector is the
worst performing one, losing 1.3% at the moment.

Also while growth and tech stocks had been tracking U.S.
Treasury yield, the correlation seems broken at the moment if
you look at the Nasdaq which yesterday fell along borrowing
costs.

There's no spillover it seems from the overnight fall of
Chinese tech shares due to concerns some may have to delist from
U.S. markets.

Today in Europe, the tech sector is down 0.2%, which is just
a tad lower than the broader market.

What seems to be the market focus today is how Europe deals
with the third wave of the pandemic and whether a vaccine war
with the UK can be averted.

(Julien Ponthus)

*****

COVID, MISSILES AND TANKER TAILBACKS (0816 GMT)

Plenty to chew over in what's shaping up to be a busy
session.

First to note is a sharp fall in dual-listed Chinese company
shares after the U.S. securities regulator adopted measures that
would kick foreign companies off American stock exchanges if
they do not comply with U.S. auditing standards.

Another reason for markets to stay in risk-off mode perhaps
was North Korea which launched two ballistic missiles into the
sea near Japan. All that weighed on stocks earlier in Asia and
now European stock futures are a tad softer.

But the session looks set to brighten up as U.S. equity
futures point to a higher open for Wall Street.

They might seek some reassurance from the host of central
bankers due to speak later in the day, including the ECB's
Christine Lagarde. The Swiss National Bank also meets and should
keep interest rates at -0.75%, where it's been for over six
years. Central banks meet in South Africa and Mexico too.

Vaccine rollouts and supplies could be high on the agenda at
an EU summit later on. The bloc on Wednesday tightened its
oversight of coronavirus vaccine exports, giving it greater
scope to block shipments to countries with higher inoculation
rates such as Britain.

While German Chancellor Angela Merkel has made a U-turn over
imposing a full 5-day lockdown over Easter, concerns about the
euro area economy continue to pressure the euro, which is
languishing near 4-month lows around $1.18.

Those worries also pulled crude prices more than 1% lower
despite the oil tanker tailbacks caused by the stranded
container ship in the Suez Canal.
Key developments that should provide more direction to markets
on Thursday:
- ECB President Christine Lagarde, Bundesbank President Jens
Weidmann, and Bank of England governor Andre Bailey, participate
in a virtual central bank event hosted by BIS.
- Sweden's Ingves, Bank of Canada’s Macklem, ECB’s Weidman,
ECB's Villeroy de Galhau, New York Fed's Williams also due to
speak.
- U.S. Treasury to auction 7-year bonds; 5-year bonds sold
Wednesday with a sold bid (Full Story)
- Italy to launch BTP short-term, a new government bond that
will replace CTZ notes
- Final iteration of US Q4 GDP

(Dhara Ranasinghe)

*****

ALONE IN THE RED (0641 GMT)

European futures are currently trading in the red at the
same pace as their Wall Street peers are cruising in the black:
that's about 0.2% give or take.

Tension is building up ahead of the virtual summit at which
EU' leaders will discuss new rules which would allow the bloc
vaccine shipments to countries which are not sharing doses they
produce.

The threat of a vaccine war adds up to concerns about
Europe's sluggish vaccination campaign and the new round of
lockdowns implemented to keep the third wave of COVID-19
infection under control.

Among other factors weighing on the market today is the
selloff in Chinese technology shares due to concerns they could
be de-listed from U.S. bourses.

(Julien Ponthus)

*****