UK Markets closed

LIVE MARKETS-Minor pull back in sight, earning downgrades, poor macro

* European shares seen down slightly

* German industrial orders drop unexpectedly

* Asian shares subdued after Trump address

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

stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your

thoughts on market moves: julien.ponthus.thomsonreuters.com@reuters.net

MINOR PULL BACK IN SIGHT, EARNING DOWNGRADES, POOR MACRO (0726 GMT)

Stock index futures are pointing to slight declines for European shares following a stellar

rally in the previous session when the pan-regional STOXX 600 benchmark shot up 1.3 percent to

its highest level since Nov. 14, shrugging ongoing downgrades to earning estimates and more

gloomy economic data.

Data has just shown that German industrial orders fell unexpectedly on weak foreign demand

in December, in a further sign that companies in Europe's largest economy are struggling with a

slowing world economy and trade disputes.

It seems that much of the negative news has already been priced in during last year's brutal

sell off.

Here's your futures snapshot:

(Danilo Masoni)

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EUROPEAN BOURSES ON THE BACKFOOT AHEAD OF THE OPEN (0633 GMT)

According to IG (Frankfurt: A0EARV - news) , financial spreadbetters expect London's FTSE to open 9 points lower,

Frankfurt's DAX to lose 6 points and Paris' CAC to edge 12 points down.

Nigel Green, CEO of deVere Group, wrote that Trump's State of the Union speech markets was

unlikely to move markets given that "there were no major surprises for investors", like

declaring a state of emergency to fund the Wall or a trade breakthrough with China.

"As such, the markets will pretty much carry on as before", he reckoned.

In Asia, stocks were subdued on Wednesday after the speech.

Other indications from CMC Markets (LSE: CMCX.L - news) also gave the FTSE 100, the DAX and the CAC 40 trading

slightly down at the open.

(Julien Ponthus)

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