LIVE MARKETS-Morning snapshot: BP, Carlsberg rise after results

May 1 - 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

MORNING SNAPSHOT: BP, CARLSBERG RISE AFTER RESULTS (0739 GMT)

The FTSE is up 0.1 percent, the lone index along with Copenhagen which is trading today. Oil

major BP is indeed rising after its strong profits, but its increasing debt pile could be

what's keeping gains muted to just 1.2 percent.

Interestingly, the latest Kantar retail data shows Sainsbury (Amsterdam: SJ6.AS - news) 's and Asda sales growth lagged

their rivals'. Sainsbury's shares are still rising again today, up 1.4 percent after a surge

yesterday on the merger news. Morrisons is down 1.2 percent.

In other results-driven moves, Carlsberg (LSE: 0AI3.L - news) is up 0.4 percent after sticking to its 2018

outlook despite a disappointing performance in Q1 sales. Volumes grew in all markets except for

Russia, the Danish brewer said.

Just Eat (Frankfurt: A1100K - news) is top of the FTSE 100, up 4.5 percent after its first-quarter results.

(Helen Reid)

*****

A FEW THINGS TO WATCH AT THE OPEN (0650 GMT)

Energy stocks: of course BP results but more widely oil prices are on the rise after Israeli

Prime Minister Benjamin Netanyahu said he was sure Trump would do "the right thing" in reviewing

Iran's nuclear deal with western powers.

Basic materials and metals stocks with Trump postponing the imposition of steel and

aluminium tariffs

In the sector: Australia's corporate watchdog said on Tuesday it has expanded legal action

against miner Rio Tinto (Hanover: CRA1.HA - news) .

Beer: Danish brewer Carlsberg sales fell 5 percent in the first quarter.

For Britain, Manufacturing PMI will be closely watched as well as the latest Brexit

controversy with Britain's upper house voting to give parliament powers to block or delay a

final deal on departure from the European Union.

(Julien Ponthus)

*****

FTSE FUTURES TICK UP (0616 GMT)

FTSE futures have opened just slightly up, rising about 0.1 percent it what could be a quiet

day given that most European bourses are closed for Labour day.

There will however be BP shares to watch at the open after the major reported a 71

percent jump in profit in the first quarter.

Also expect a bit of action in about two hours with some U.K. macro data:

0830 GMT UK BOE Consumer Credit for March: Expected 1.450 bln GBP; Prior 1.647 bln GBP

0830 GMT UK Mortgage Lending for March: Expected 3.600 bln GBP; Prior 3.718 bln GBP

0830 GMT UK Mortgage Approvals for March: Expected 63.000 k; Prior 63.910 k

0830 GMT UK M4 Money Supply for March: Prior -0.3 pct

0830 GMT UK Markit/CIPS Manufacturing PMI for April: Expected 54.8; Prior 55.1

(Julien Ponthus)

*****

M&A GALORE: $120 BILLION WORTH OF DEALS IN 2 DAYS (0547 GMT)

According to Thomson Reuters (Dusseldorf: TOC.DU - news) data, there's been $120 billion worth of deals announced

between April 29 and April 30. The M&A frenzy has been quite obvious indeed with Sainsbury's

planned merger with Asda or the tie-up between T-Mobile U.S. and Sprint.

Take a look:

(Julien Ponthus)

*****

MORNING CALL: FTSE SEEN OPENING FLAT AHEAD OF KEY PMI DATA (0527 GMT)

The FTSE is expected to open 4 points higher this morning while most major European bourses

are off on Labour Day.

All eyes this morning are on Britain's Manufacturing PMI for April after Friday's poor GDP

data made investors worry about a sharp slowdown in economic growth, which could prevent the BoE (Shenzhen: 000725.SZ - news)

from raising rates this month.

There is also some palpable relief on Asian markets and on U.S. futures after Trump

postponed the imposition of steel and aluminum tariffs on Canada, the European Union and Mexico

until June 1.

(Julien Ponthus)

*****