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LIVE MARKETS-Europe futures inch higher
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: josephine.mason.thomsonreuters.com@reuters.net
EUROPE FUTURES INCH HIGHER (0621 GMT)
European stock futures are starting the week on the front foot recovering slightly from their first weekly loss since May and taking their lead from Asian markets overnight, which drew some support from China's upbeat retail sales and factory output data.
Q2 GDP data showed the world's No. 2 economy grew at its weakest growth in at least 27 years, underscoring concerns about the damage from the prolonged trade spat between Beijing and Washington, although the number was in line with expectations.
The retail and factory numbers also reassured investors that Beijing's stimlus measures have helped shore up domestic activity, although some analysts say it may not be enough to sustain it into H2.
"Every time we are faced a major economic number it comes as a huge sigh of relief even when the print comes out as expected," says Stephen Innes, managing partner at Vanguard Markets Pte.
A report by Reuters that Washington may approve licenses for companies to restart new sales to Huawei in as little as two weeks is also likely to lift the mood in the chip sector.
The big corporate news is from Gilead which said on Sunday it will invest $5.1 billion to raise its stake in Galapagos and partner with the Belgian-Dutch biotech firm to develop and commercialise its treatments for a ten-year period.
On the UK high street, Sports Direct has said this morning it will delay the publication of its preliminary results due to problems integrating House of Fraser and increased scrutiny of its accounts which could affect its guidance.
Norway's Adevinta says French digital tax to impact earnings
Gilead deepens Galapagos ties with $5.1 bln deal
Atlantia among prospective investors in Alitalia rescue
Lufthansa CEO sees no 'Greta Effect' on passenger numbers
UK's Roxi Music plans for new product launches as it steps closer to IPO
GSK in talks to name HSBC's Symonds as its next chairman- Bloomberg
Indivior loses appeal to block generic Suboxone opioid treatments
Rallye Contracted Total Of EUR 231 Mln Structured Financing Arrangements
EXCLUSIVE-U.S. firms may get nod to restart Huawei sales in 2-4 weeks -official
Sports Direct delays results, guidance could be affected
(Josephine Mason)
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SMALL GAINS SEEN IN EUROPE (0532 GMT)
Shares are expected to eke out small gains at the open as investors digest a raft of Chinese data that showed the world's No. 2 economy slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, while more upbeat June factory output and retail sales provided some reassurance.
Still, some analysts cautioned the gains in June may not be sustainable, and expect Beijing will continue to roll out more stimulus measures in coming months.
According to spreadbetters, DAX is expected to open 29 points higher at 12,352, CAC 40 up 13 points higher at 5,585 and FTSE 100 is expected to open 2 points higher at 7,507.
(Josephine Mason)
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(Reporting by Danilo Masoni, Helen Reid, Josephine Mason and Thyagaraju Adinarayan)
