MORNING BID EUROPE-Brexit doodlings caught by photographers

* A look at the day ahead from European Economics and Politics Editor Mark John and Mike Dolan, Markets Editor, EMEA. The views expressed are their own.

LONDON, Nov 29 (Reuters) - British PM Theresa May's office is in damage limitation mode again after the contents of a notebook under the arm of Conservative Party aide were photographed as she walked out of the main government department handling Brexit. The handwritten comment on Brexit strategy stating "What's the model? Have your cake and eat it" is garnering a lot of media attention, as is the comment that the French are "likely to be most difficult". What exactly the status of these notes is might be hard to ascertain -- doodlings or the faithful representation of a high-level briefing? Naturally there has been a swift official denial that they reflect government policy in any way. What the episode does however underline is how difficult it will be for May to keep her negotiating policy under wraps, and that is even before the Brussels leaks machine cranks properly into life.

MARKETS AT 0755 GMT

World markets (Frankfurt: 4WM.F - news) are re-positioning and edgy ahead of tomorrow's OPEC meeting and Italy's constitutional referendum on Sunday. The running assumptions built into prices appear to be that OPEC will eventually deliver its promised output cut, so this week's oil price jitters show where the balance of risks lie. On Italy, the assumption based on opinion polls has to be a 'no' vote in Sunday's referendum, but there is huge uncertainty about whether PM Renzi resigns or not afterward. If he stays, some of the more extreme positioning in Italian debt and bank stocks could be due for some recovery, and some funds such as Blackrock (Sao Paolo: BLAK34.SA - news) are holding out for some bounce in bank shares at least. That said, Italian press reports this morning speculate that Renzi may resign even if he wins the vote and the Sentix investor survey shows implied chances of Italy leaving the euro have risen to almost 20 percent this month, the highest in the survey's four-year series. Price-wise, Brent crude stabilized yesterday, settling back this morning just under $48. Italy-Germany 10-year bond spreads rose to their widest since February 2014 yesterday, while Italian banking indices fell almost 4 percent to an 8-week low. The oil price retreat helped bonds yesterday, but some of that has been given up again this morning. Wall St's worst performance in nearly a month yesterday was one of the first pullbacks since the election, with oil prices and the expected Fed hike combining with profit-taking in consumer stocks. European stocks are expected to open lower. Euro/dollar has slipped back below $1.06, meantime.

Upcoming events/data/themes for market reports on Tuesday:

- Europe corp events: Countrywide Properties, Merlin, Topps Tiles, Diana Shipping (NYSE: DSX - news) , Tsakos Energy Navigation

- German states' Nov inflation

- Italy government bond auction

- BIS Monetary Dept chief Borio speaks in London

- BoE Oct credit, mortgage lending

- UK sells 40-year index-linked gilt via syndication, DMO announces volume of next month's 10-yr gilt auction

- Scotland's first minister Sturgeon speaks to Irish Parliament

- Sweden/Austria/Greece Q3 GDP

- Belgium Nov inflation

- US Q3 GDP revision, Sept house prices

- Brazil interest rate decision

- NY Fed chief Dudley speaks in Puerto Rico

- Bank of Canada chief Poloz speaks in Ontario (Editing by Sonya Hepinstall)