Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

LIVE MARKETS-Opening snapshot: European stocks muted as trade talks loom

Published 21/08/2018, 05:16 pm
Updated 21/08/2018, 05:20 pm
© Reuters.  LIVE MARKETS-Opening snapshot: European stocks muted as trade talks loom

* European stocks steady

* Eyes on Wednesday's U.S.-China trade talks

* Trump criticizes Fed raising rates in interview

* Wall Street, Asia shares advance

LONDON, Aug 21 (Reuters) - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Kit Rees. Reach her on Messenger to share your thoughts on market moves: kit.rees.thomsonreuters.com@reuters.net

OPENING SNAPSHOT: EUROPEAN STOCKS MUTED AS TRADE TALKS LOOM (0715 GMT)

European stocks are struggling for direction in early trading, with investors cautious ahead of trade talks between the U.S. and China. The STOXX 600 is flat while Germany's DAX is up 0.2 percent.

A stronger euro isn't helping euro zone markets either, as the dollar falls after Trump's comments against the Fed's rate rises.

A few notable stock movers in relatively calm trading overall:

BHP Billiton BLT.L is bottom of the FTSE 100 after the global miner warned of cost pressures at some of its operations and flagged a delay in future savings.

Wood Group WG.L is leading the STOXX 600 with a 3.6 percent gain after its first-half results came in at the higher end of its forecast and it raised its cost-savings target for merger synergies by $40 million. services peer Saipem SPMI.MI is another top gainer, top of the FTSE MIB after it won contracts from ExxonMobil in Guyana. news the Italian government is working on penalties to apply to Atlantia after the deadly Genoa bridge collapse, shares in the motorway operator are up 3.3 percent.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

(Helen Reid)

*****

ON THE RADAR AHEAD OF THE OPEN (0644 GMT)

European shares are set for a weaker open as investors eye tomorrow's U.S.-China trade talks, with stocks futures trading 0.1-0.4 percent lower.

Likewise comments in a Reuters interview from U.S. President Donald Trump criticizing the Fed raising rates haven't done much to boost market sentiment. Trump also accused China and Europe of manipulating their respective currencies.

Earnings are thin on the ground but we've had full-year numbers from mining heavyweight BHP Billiton, whose shares are seen slightly lower as underlying profit came in just below expectations, while UK housebuilder Persimmon saw a rise in first-half profit.

Atlantia shares are expected to come under further pressure after Italy's PM said the government is working on penalties against the company over the Genoa bridge collapse.

Here are this morning's key company headlines in Europe:

BHP BLT.L profit, dividend jump but warns on costs, savings builder Persimmon's PSN.L first-half profit rises, sees more growth fines Credit Agricole CAGR.PA and subsidiaries working on penalties against Atlantia ATL.MI over bridge disaster SKYB.L expects to pay advisers on Fox deal up to $123.7 million in fees Wood Plc WG.L eyes faster merger synergies after first half results Rees)

*****

EUROPEAN STOCKS FUTURES DIP (0615 GMT)

It's a weak open for European stocks futures which are retreating slightly, as trepidation ahead of the U.S.-China trade talks sets in.

Here's your futures snapshot:

(Kit Rees)

*****

MORNING CALL: EUROPEAN STOCKS SEEN OPENING LOWER (0535 GMT)

Good morning. European stocks are seen opening slightly lower, according to financial spreadbetters, with trading likely to be cautious ahead of trade talks between the U.S. and China due to start on Wednesday.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"The trade war story has been weighing on stocks ... so any signs that the risk is moderating on a serious scale will boost investors' appetite for riskier assets and push equity indices higher," analysts at London Capital Group said in a note.

The FTSE was expected to open 0.2 to 0.3 percent lower, Germany's DAX was seen retreating 0.1 percent and France's CAC was expected to dip 0.1 to 0.2 percent, according to spreadbetters.

Overnight, China stocks gained while Wall Street enjoyed a stronger close, though U.S. stocks pared gains following comments by President Donald Trump criticizing the Fed raising rates. In the interview with Reuters, Trump also accused China and Europe of manipulating their respective currencies. Rees)

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Futures snapshot

https://reut.rs/2nVJ3ZO

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.