LIVE MARKETS-Earnings round-up: Clariant and L'Oreal give mixed messages on China
(Corrects Samsung to Korean, not Japanese, company)
Oct (Shenzhen: 000069.SZ - news) 31 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger to share your thoughts on market moves: helen.reid.thomsonreuters.com@reuters.net
EARNINGS ROUND-UP: CLARIANT AND L'OREAL GIVE MIXED MESSAGES ON CHINA (0648 GMT)
Earnings flowing in today offer some evidence for one of the main themes of this earnings season: slowing growth in China, although L'Oreal bucked the trend. Banks Standard Chartered and Santander have managed strong results, which could help boost the battered sector.
More signs of strain from China with Swiss speciality chemicals maker Clariant (IOB: 0QJS.IL - news) saying its sales growth slowed in Q3 as its business in China softened.
L'Oreal, meanwhile, said Asian demand was strong particularly for its skincare products and luxury labels like Lancome, with the pace of revenue growth in the region even accelerating from a quarter earlier. This could help support sentiment around luxury which has been hit by concerns over Chinese growth.
Results from Samsung don't bode well for European chipmakers - the Korean electronics giant slashed 2018 capex by more than a quarter and warned of lower profit until early next year, calling an end to a two-year boom in memory chips.
Meanwhile, energy firms still rule with Austria's OMV (IOB: 0MKH.IL - news) profit jumping by nearly a third.
Here's the earnings and company news round-up so far:
Santander posts 36 pct increase in Q3 net profit on Brazil and Spain
StanChart (HKSE: 2888-OL.HK - news) beats forecasts with 31 pct Q3 profit jump
Clariant sees sales growth slow amid softer China business
Strong Asian demand gives L'Oreal a sales bounce
Vaccines and Genzyme help Sanofi (LSE: 0O59.L - news) keep promise of return to growth
Tyre maker Nokian trims FY profit outlook
Austrian energy group OMV's Q3 core profit nearly jumps by a third
Air France (Paris: FR0000031122 - news) upbeat on sales as new CEO seeks pilots' buy-in
DSM Q3 core profit rises 11 pct on higher vitamin prices
Dialog Semiconductor Says Operating Profit Rose 1 Pct In Q3
British app bank Monzo hits unicorn status after latest fund raising
Samsung slashes capex, calls end to chip boom after record Q3
(Helen Reid)
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EUROPEAN STOCKS TO RISE AS MESSY OCTOBER DRAWS TO A CLOSE (0623 GMT)
European shares are expected to rise this morning after yesterday's weak session, but are still on track for their worst month since August 2015 after an October of sharp equity drawdowns here and in the U.S.
More earnings flowing in this morning will set the tone for trading - we could have a reversal like we did yesterday after a positive start.
Overnight, Asian stocks were set to end the month up from 20-month lows on Wednesday amid pledges by China to support its domestic markets, but sentiment was fragile after equity markets bled trillions of dollars in a grim October.
IG (Frankfurt: A0EARV - news) spreadbetters expect London's FTSE 100 to open 48 points higher at 7,084, Frankfurt's DAX to open 98 points higher at 11,386 points, and Paris' CAC 40 to open 41 points higher at 5,019.
(Helen Reid)
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(Reporting by Helen Reid, Danilo Masoni, Julien Ponthus)