January 18, 2018 / 9:10 AM / 4 months ago

LIVE MARKETS-European stock movers a la carte: earnings provide support

    * European shares edge higher
    * Dow ends above 26,000
    * Asian stocks hit record highs
    * Dollar pulls back from three-year lows

    Jan 18 (Reuters) - 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
    
    TOP MOVERS A LA CARTE: EARNINGS PROVIDE SUPPORT (0826 GMT) 
    The broader market is inching up around 30 minutes after the opening bell, masking bigger
moves for single stocks, with a series of well-received earnings updates providing support. 
    Top gainers on the STOXX 600 are Geberit, Balfour Beatty and Carrefour
, all up more than 2 percent after their updates, while Britvic, Infineon
 and Hargreaves were supported by upbeat broker notes. 
    Among the losers are utility SSE after reports that a UK price cap law should be
passed by the summer, while a downgrade hit Rightmove and BPER Banca fell
after a Reuters story raised fresh worries over Italian banks' bad loans. 
    British drugs company BTG is down 5 percent after a U.S. patent on J&J's Zytiga was
invalidated. BTG earns royalties on the drug. 
    Engineering company GKN ratcheted up the rhetoric over the hostile bid from Melrose
, calling its offer "misleading", accusing Melrose of offering a "fake premium" and
saying the combination would bring no industrial synergies. Investors are betting on some sort
of deal: GKN shares were trading at 447 pence, compared to Melrose's offer worth 430.1 pence,
based on the suitor's Jan. 16 closing price.
 
    (Danilo Masoni)
    *****

    OPENING SNAPSHOT: HIGHER (0807 GMT)
    European shares have opened higher in a bounce inspired by another record close at Wall
Street. Here is your snapshot:
 
    (Danilo Masoni)
    *****
    
    THREE HOT "SPECIAL SITS" (0754 GMT)
    Here's the latest on 3 hot European "special sits":
    * Activist investor Sachem Head is asking Whitbread to consider splitting the Costa Coffee
chain away from its hotels and restaurant businesses 
    * Steinhoff: Jayendra Naidoo resigns as a member of the supervisory board. 
    * The largest shareholder in Belgian biotech group Ablynx said the 2.6 billion euro offer
made by Denmark's Novo Nordisk is too low but that it is willing to consider a higher offer.

    (Julien Ponthus)
    *****
    
    BULLISH SECTOR, BULLISH HEADLINES (0720 GMT) 
    With an 8.8 percent rise since the beginning of the year, European car makers are the best -
by far - performing sector, something you can get a sense of when reading this morning's
headlines.
    In a nutshell, while Renault and Volkswagen are fighting over who can claim the crown of the
world's leading automobile group, Peugeot is planning to use the know-how of former
Opel engineers acquired from General Motors to re-enter the U.S. market.
    At the opposite end, retail, which is up a slim 0.75 percent in comparison with 2.3 percent
for the STOXX 600, is enjoying less glamourous headlines, with France's Carrefour cutting its
profit forecast for the second time in six months before presenting a new strategic plan
. That comes a day after another French supermarket group, Casino, disappointed
analysts with its 2017 profit growth guidance in its core French business.
    (Julien Ponthus)
    *****
    
    
    FUTURES POINT TO POSITIVE OPEN FOR EUROPEAN SHARES (0706 GMT) 
    Futures seem to confirm that European shares are set to join their U.S. and Asian peers' in
a global rally. 
 
    (Julien Ponthus)
    *****    
    
    MORNING CALL: EUROPEAN SHARES SET TO JOIN GLOBAL RALLY (0617 GMT)
    Good morning and welcome to Live Markets. It seems European shares are set to join the
global rally, which has lifted the Dow above 26,000 points and boosted Asian shares to new
highs. 
    Financial spreadbetters expect Frankfurt's DAX to open 76 points higher, Paris' CAC up 26
points and London's FTSE 8 points higher. 
      
    (Julien Ponthus)
    *****

    
 (Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below