LIVE MARKETS-Futures flat as Q1 season gets underway, eyes on Credit Agricole/Santander

* European stock futures open little changed

* Asian stocks swing up after China data

* China's Q1 growth unexpectedly steadies

Welcome to the home for real-time coverage of European equity markets brought to you by Reuters

stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your

thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net

FUTURES FLAT AS Q1 SEASON GETS UNDERWAY, EYES ON CREDIT AGRICOLE/SANTANDER (0615 GMT)

Stock futures have opened little changed, confirming earlier indications from spreadbetters

for European shares to steady at eigh month highs at the open following better than expected

Chinese GDP data.

On the corporate front, Roche and L'Oreal will be in focus as the Q1

reporting season gets underway with both both companies posting solid updates. The Swiss

drugmaker raised its 2019 outlook after first-quarter sales rose 8 percent, beating analyst

estimates, while L'Oreal posted higher-than-expected first-quarter sales, powered by growth in

the division that makes luxury cosmetics and strong demand in Asian countries.

Results from semiconductor equipment maker ASML Holding also looked strong with

the company reporting better-than-expected first quarter earnings and saying it expected growth

to accelerate through the year. Meanwhile Danone kept its forecasts for a further rise

in sales and profits this year.

In dealmaking, Credit Agricole and Spanish bank Santander plan to combine

their custody and asset servicing operations in a deal that would create a new global leader

Here's your futures snapshot and below an early morning headlines roundup.

Credit Agricole and Santander to combine custody and asset servicing arms

Roche lifts 2019 outlook as Q1 sales beat forecasts

L'Oreal sales steam ahead at steady pace in Q1

L'Oreal bets on Garnier turnaround

ASML: maintains bullish FY 2019 outlook after Q1 beat

Food group Danone keeps goals despite weaker Q1 sales

Net outflows continue at Swiss asset manager GAM

ING approached Commerzbank about possible tie-up - Manager Magazin

BHP cuts iron ore production outlook after Australian cyclone

ABB names Voser as interim CEO after Spiesshofer quits

France's AXA provided insurance cover for two Notre-Dame contractors

Banco Bpm accepts offer from Illimity for sale of bad loans worth 650 mln euros

Italy's Moncler CEO says Q1 results were good, in line with expectations

(Danilo Masoni)

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EUROPEAN STOCKS SEEN STEADYING AT AUGUST HIGHS (0524 GM)

European shares are expected to steady near eight-month highs today following another set of

strong data from China that eased worries over the health of the world's second largest economy.

China's economy grew at a steady 6.4 percent pace in the first quarter from a year earlier,

defying expectations for a further slowdown, as industrial production jumped sharply and

consumer demand showed signs of improvement.

Financial spreadbetters at IG expect London's FTSE to open 7 points lower at 7,463,

Frankfurt's DAX to open 4 points higher at 12,105, and Paris' CAC to open 4 points higher at

5,533. On Tuesday, the pan-regional STOXX 600 benchmark index hit its highest level

since August 10.

Over in Asia, shares swung higher as the stronger-than-expected Chinese data signalled that

Beijing's policy stimulus may finally be gaining traction.

"If traders were hoping for more evidence that an economic recovery was underway in China,

well at first glance the data is even better than the most ardent China bulls had expected while

providing a not too subtle reminder never to discount the positive effect of China credit," says

Stephen Innes, Head of Trading at SPI Asset Management.

(Danilo Masoni)

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