LIVE MARKETS-How important is the slowdown in euro zone data?

* European stocks rise

* Sage Group (LSE: SGE.L - news) falls after cutting revenue forecast

* Klepierre (LSE: 0F4I.L - news) abandons Hammerson (Frankfurt: 876140 - news) deal

LONDON, April 13 (Reuters) - 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

HOW IMPORTANT IS THE SLOWDOWN IN EURO ZONE DATA? (0941 GMT)

Weaker data points, seen as hints that the #Euroboom is over, have been on everyone's minds

for the past weeks, with investors trying to figure out what impact the apparently worse

economic backdrop has on portfolios.

Industrial production, retail sales, and even trade data have been showing signs of fraying,

making Euro zone Q1 GDP growth figures (on May 2) likely to weaken, UBS (LSE: 0QNR.L - news) analysts say.

A big gap has opened up between "mediocre" hard data and still relatively strong survey

data, they note. "We are taking the disappointing hard data seriously," they say, adding they

doubt this marks the start of a sharp, lasting slowdown.

Very cold weather and unusually high instances of flu could be part of the reason for the

data slowdown.

"If our assessment is correct and bad weather and elevated sickness leave were indeed key

drivers of the weaker data in Q1, then the softness is likely to be transitory."

And slowing trade may be the first signs of impact of the stronger euro, making exports from

Europe more expensive for foreign buyers.

(Helen Reid)

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OPENING SNAPSHOT: EUROPEAN SHARES TICK HIGHER (0720 GMT)

European shares have opened slightly higher, underpinned by gains for materials stocks and

industrials as earnings shuffle into focus.

And in the results space Stora Enso (LSE: 0CX9.L - news) , a Finnish paper maker, is the biggest gainer

after beating first-quarter profit expectations, though Sage Group is nursing heavy

losses due to cutting its full-year revenue forecast.

Dealmaking news continues to keep investors on their toes as Klepierre drops its

bid for Hammerson. Klepierre's shares are up 4 percent, but Hammerson is down around 13

percent.

As we wait and see whether European shares commit to this rather feeble bounce, here's your

opening snapshot:

(Kit Rees)

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WHAT TO WATCH AT THE EUROPEAN OPEN (0646 GMT)

Here's what's on our radar today:

Easing concerns over trade and Syria should help European stocks hold near the one-month

high they hit on Thursday, with the focus turning to the incipient earnings season expected to

help boost equities. If all goes well today this should be the third straight week of gains for

the STOXX 600, the benchmark’s longest winning streak since the heady days of January when

markets were (all too) optimistic.

JP Morgan and Citigroup’s results across the pond will be keenly watched later in the

session, but in Europe L’Oreal has already reported a first-quarter sales beat helped by luxury

cosmetics and China, and the shares are indicated up 2 to 3 percent.

UK software firm Sage is expected to fall at the open, however, after cutting its guidance

for 2018 revenue growth.

In M&A developments, France’s Klepierre has dropped its takeover bid for Hammerson

, saying it doesn’t intend to make an offer after its two bids were rebuffed by the UK

commercial real estate firm.

Micro Focus could make further gains today, traders said, after yesterday’s sharp move

higher on reports Elliott Management has taken a stake in the company.

(Helen Reid)

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EUROPEAN COMPANY HEADLINE ROUNDUP (0630 GMT)

Here are the headlines catching our eye ahead of Europe's open:

Luxury cosmetics and China drive sales bounce at L'Oreal

Rocket Internet (Swiss: OXRKET.SW - news) start-ups trim losses

VW names new boss to steer sweeping overhaul

Volkswagen (IOB: 0P6N.IL - news) labour bosses back Diess as new CEO - Osterloh

British software firm Sage cuts FY revenue growth forecast

Rolls-Royce to step up inspections of Trent (BSE: 500251.BO - news) 1000 engines

London Stock Exchange Group appoints Goldman's Schwimmer as CEO

(Kit Rees)

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EUROPEAN FUTURES INCH LOWER (0612 GMT)

Futures have opened pretty vaguely this morning, lacking direction but pointing to a

slightly higher open for the DAX, while they're trading lower for the Eurostoxx 50.

In corporate news, Volkswagen will be one to watch, indicated higher in pre-markets after it

named Herbert Diess as its new chief executive.

L'Oreal is also seen rising after luxury cosmetics and China drove a sales beat for the

first quarter.

VW names new boss to steer sweeping overhaul

Luxury cosmetics and China drive sales bounce at L'Oreal

(Helen Reid)

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FOCUS ON ITALY AS GEOPOLITICAL CONCERNS EASE (0551 GMT)

Another saga on investors' radar today is the effort to form a government in Italy. SocGen (Paris: FR0000130809 - news)

analysts say: "Chances are that Salvini, leader of the League, will be asked to form a

government but we expect his chances of rapid success to be slim."

Talks to try to break the stalemate made no progress yesterday as parties refused to

compromise - our full story here:

Overall markets seem less concerned about geopolitics than earlier this week. SocGen

analysts note that "conciliatory comments from President Trump about prospects for a positive

resolution of the trade frictions with China and over NAFTA, and suggestions the U.S. may join

the TPP after all, helped to improve risk sentiment."

Trump said he would only join the Pacific trade pact if the deal were "substantially better"

than that offered to President Obama.

(Helen Reid)

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MORNING CALL: TEPID END TO THE WEEK FOR EUROPEAN STOCKS (0526 GMT)

Good morning.

Main European benchmarks are called very slightly lower this Friday the 13th, after a marked

recovery yesterday. Attention shifted yesterday to the U.S. earnings season expected to be very

strong, and today investors will watch reports from big banks JP Morgan and Citigroup (NYSE: C - news) closely.

"Recent price action might suggest that we could look to head towards the upper end of the

trading range in the coming days, particularly if U.S. earnings come in ahead of expectations,"

says CMC Markets (LSE: CMCX.L - news) ' Michael Hewson.

Over in Asia, trading was more muted on Chinese indices especially after data from China

showing March exports unexpectedly fell while imports grew more than forecast.

Spreadbetters call the DAX 2 points lower at 12,413, the CAC 40 down 4 points at 5,305, and

the FTSE 100 8 points lower at 7,250.

If all goes well today the STOXX 600 will seal its third straight week of gains, its longest

winning streak since the heady days of January when global equity markets were in a roaring

rally. Below you can see how much bigger weekly swings have been since then, with many saying

we're in a new volatility regime.

(Helen Reid)

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(Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus)