February 2, 2018 / 7:12 AM / 10 months ago

LIVE MARKETS-But futures point to steady open for European shares

    * European stock futures steady
    * Eyes on US payrolls data
    * Apple posts record profit, Alphabet disappoints

    Feb 2 (Reuters) - Welcome to the home for real time coverage of European equity markets
brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on
Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net
 
    
    BUT FUTURES POINT TO STEADY OPEN FOR EUROPEAN SHARES (0702 GMT)
    Contrary to earlier calls from financial spread-betters, European stock index futures have
opened with slight gains, indicating this week's sell-off could ease somewhat.
    The STOXX 600 is down around 1.8 percent so far this week, set for its biggest weekly loss
since November 
    Here's your snapshot:    
 
    (Danilo Masoni)
    *****
        
    DEUTSCHE BANK POSTS BIGGER THAN EXPECTED LOSS (0643 GMT)
    Banks, recently buoyed by rising bond yields and optimism about economic growth, could be in
focus today after the DAX-listed heavyweight lender disappointed analyst expectations with a
2017 loss of 497 million euros in 2017. 
    (Danilo Masoni)
    *****
    
    MORNING CALL: EUROPE SET TO EXTEND LOSING STREAK (0630 GMT) 
    Good morning and welcome to Live Markets. 
    Rising bond yields and a stronger euro are likely to put European shares under pressure for
a fifth day in a row, one day after the export oriented German DAX index fell 1.4 percent - its
biggest one-day loss since early November.  
    Over in Asia, the euro neared multi-year peaks as talk of policy tightening in Europe and
expectations that inflation is set to gear higher drove up borrowing costs globally, a move that
sparked a sell-off in Asian equities.
    Later in the day the focus will be the U.S. payrolls report. "Anticipation is elevated after
a hawkish FOMC meeting... A strong number may increase the probability of four rate hikes this
year," says Credit Suisse in its investment daily note.
    We'll also be keeping an eye on tech stocks here in Europe after results from big internet
companies in the US. "Some anxiety is fuelled by a trend for companies that miss estimates to be
penalized... Facebook bucked the trend, forecasting rising ad sales despite a dip in usage.
Apple reported record quarterly revenue and profits after the bell, Amazon’s results easily beat
expectations, but Alphabet disappointed," adds Credit Suisse.
    Back to Europe, here are your opening calls, courtesy of CMC Markets.
    FTSE100 is expected to open 5 points lower at 7,485
    DAX is expected to open 63 points lower at 12,940
    CAC40 is expected to open 9 points lower at 5,445
    (Danilo Masoni)
    *****

    
 (Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus)
  
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