UK markets closed

LIVE MARKETS-The harder the fall, the bigger the bounce

* STOXX 600 up 0.1%, FTSE 100 ul 0.3%

* Ingenico tops STOXX 600 on news of takeover by Worldline

* PMI: UK manufacturing ends long decline Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Joice Alves. Reach her on Messenger to share your thoughts on market moves: joice.alves.thomsonreuters.com@reuters.net



THE HARDER THE FALL, THE BIGGER THE BOUNCE (0928 GMT)

It may sound simplistic but in essence that's how many see the opportunity created by the coronavirus outbreak in China.

Among these is JPMorgan, who believes stocks will make further all-time highs before the next U.S. recession strikes.

"The Coronavirus outbreak is likely to keep markets under pressure near term. That said, the more the markets fall in the short term, the more they are likely to rebound once the number of cases appears to be peaking," strategists at the U.S. bank led by Mislav Matejka say.

"Fundamental backdrop is supportive, in our view, and the fallout from the outbreak is unlikely to hurt activity prints over the medium term," they add.


(Danilo Masoni)

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OPENING SNAPSHOT: INGENICO UP, WORLDLINE DOWN (0834 GMT)

European bourses opened in positive territory with Ingenico as expected topping the Stoxx 600 index after Worldline agreed to buy the French payments company in a deal which would create a new European champion in the sector.

It is also worth noting that Ingenico shares are trading well below Worldline's 123.1 euro per share offer price. Worldline shares meanwhile are sliding 5%.

Other top movers in Europe are Siemens Healthineers down 4% and Julius Baer off 4%, both reported lower profits.

Ryanair shares are jumping 3.6% after company third quarter revenues beat estimates.

(Joice Alves)

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ON OUR RADAR: UK, DRUGMAKERS, RYANAIR, WORLDLINE (0755 GMT)

Futures point to a higher open in Europe after Brexit and reports on Saturday that Boris Johnson would consider a looser trade agreement with the European Union, similar to the bloc's ties with Australia, rather than follow EU rules to reach a closer deal.

Johnson is expected to give a speech on trade today. Traders are also expecting some eurozone and UK PMI numbers, which will be released this morning.

In terms of single stocks, Siemens Healthineers shares are down 6.5% in early Frankfurt trade after it said Q1 profit fell on higher diagnostic gear costs

Meantime, UK drugmaker GlaxoSmithKline is also on the radar after it said it is collaborating with the Coalition for Epidemic Preparedness Innovations to develop a vaccine for the coronavirus outbreak.

In terms of M&A, traders see payments company Ingenico shares rallying 17% after Worldline agreed to buy its French peer in a deal which would create a new European champion in the sector.

Ryanair shares are seen 1-2% higher after 3Q revenues beat estimates but the company said it may have to push back its long-term target of flying 200 million passengers per year by as much as two years due to delays in the delivery of Boeing's <BA.N 737> MAX jet.

Some other earning results could move stocks: Swedish telecoms operator Tele2 Q4 earnings beat forecast company launched a new restructuring programme.

Julius Baer is seen 2% lower as it said it will cut 300 jobs after 2019 profit drop.

Other corporate headlines:

Sri Lanka to probe graft accusations over Airbus deal

Imperial Brands names Stefan Bomhard CEO

(Joice Alves)

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EUROPEAN STOCKS SEEN HIGHER (0650 GMT)

European bourses are expected to open higher this morning as investors get some relief from the fact that the UK left the euro zone ending years of uncertainty around the Brexit outcome.

Fears from Asia will likely put a brake on the enthusiasm. As traders in Asia returned from a week-long Lunar Year break, shares across the region and global commodity prices stumbled on concerns that the coronavirus epidemic will hit demand in the world's second-largest economy.

Investors will also have their eyes on PMI data from the euro zone, Germany, France, Italy, Netherlands and Spain that will be released this morning.

Back in the UK, today's PMI data will likely see little market reaction as services PMI due Wednesday matters more for the economy.

Financial spreadbetters at IG expect London's FTSE to open 15 points higher at 7,286, Frankfurt's DAX to open 21 points up at 12,981 and Paris' CAC to open 12 points higher at 5,806.


(Joice Alves)

*****​ (Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)