LIVE MARKETS-Morning snapshot: European stocks tread water

* European shares steady

* BoE (Shenzhen: 000725.SZ - news) seen keeping rates on hold

* RBS (LSE: RBS.L - news) reaches $4.9 bln US bond probe settlement

* Randgold, BT fall after updates

May 10 (Reuters) - 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

MORNING SNAPSHOT: EUROPEAN STOCKS TREAD WATER (0825 GMT)

Even (Taiwan OTC: 6436.TWO - news) though European indexes are broadly flat after the first hour of trading, the focus is

very much on earnings, with shares in Randgold Resources the biggest fallers, down more

than 8 percent, after the precious metals miner reported lower Q1 gold output and profit, while

BT Group (Other OTC: BTGOF - news) is also lagging after giving some disappointing guidance and announcing some

hefty job cuts.

On the positive front, Next (Frankfurt: 779551 - news) 's shares are bouncing after the retailer raised its

profit forecast, while ITV (Frankfurt: A0BLQP - news) is also rising after its update. RBS is up 3.6

percent after its DoJ settlement was smaller than expected.

Energy stocks are taking a breather following yesterday's rally, while oil prices head

higher.

But until we get the BOE policy decision, it's likely that trading in Europe is going to be

cautious.

Here's your snapshot:

(Kit Rees)

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WHAT YOU NEED TO KNOW BEFORE EUROPE OPENS (0655 GMT)

European shares are expected to open flat to higher with FTSE futures leading the way, up

0.6 percent, ahead of a BoE meeting set to keep rates on hold following the recent collapse of

expectations for a rate hike. Futures on euro zone indexes were trading up 0.1 percent.

Royal Bank of Scotland is in the spotlight after it agreed to pay $4.9 billion to resolve a

U.S. Department of Justice probe into its structuring and sale of mortgage-backed securities

ahead of the 2008 financial crisis. Although the deal will pave the way for the UK sell more

shares in the bank its shares are called up 10 percent by one trader.

Still in banks, UniCredit (EUREX: DE000A163206.EX - news) is seen opening 2 percent higher after Italy's biggest lender

posted its best first-quarter result since 2007, topping forecasts with a 1.1 billion euro net

profit thanks to lower-than-expected loan losses.

BT shares are seen down 1-2 percent after it said it is cutting 13,000 jobs and leaving its

London headquarters in the latest attempt by Britain's biggest telecoms group to rebuild after

an accounting scandal and downturn in trading.

(Danilo Masoni)

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FTSE FUTURES OUTPERFORM AHEAD OF BOE (0614 GMT)

European stock index futures have opened in positive territory, confirming earlier

indications from spreadbetters, with FTSE futures leading the way, up 0.6 percent, ahead of

today's Bank of England policy meeting.

BoE interest rates looks set to stay on hold after unexpectedly weak economic data and

cautious remarks from Governor Mark Carney dashed the chances of what until a few weeks ago

looked like a near-certain increase.

"It is also quite likely that the Bank may well have to guide its growth expectations

lower... Inflation expectations could also be revised lower, which in term could see the pound

come under further pressure," says Michael Hewson, Chief Market Analyst at CMC Markets (LSE: CMCX.L - news) .

Here's your futures snapshot:

(Danilo Masoni)

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The Bank of England to announce May rate decision at 1100 GMT

HEADLINES ROUNDUP: EYES ON RBS SETTLEMENT, UNICREDIT RESULTS, AXA (Paris: FR0000120628 - news) 'S US IPO (0544 GMT)

Investors will likely be watching shares in RBS after a it reached a multi-billion deal to

settle a U.S. bond probe, while UniCredit could also be in focus after a solid-looking quarterly

update. The IPO of AXA's US arm missed its target, raising $2.75 bln.

Here are the links to these stories and more headlines that could move markets today:

RBS reaches $4.9 billion deal to settle U.S. mortgage bond probe

UniCredit beats forecasts with best Q1 result since 2007

AXA's U.S. arm raises $2.75 bln in IPO, misses target

Rolls-Royce operations chief to leave in streamlining

Altice USA reports quarterly loss due to high programming costs

Brazil's TIM: shares plummet as traders fret over royalty payments

Novartis (IOB: 0QLR.IL - news) calls $1.2 mln deal with Trump lawyer's firm a 'mistake'

EDF Q1 sales up 3.7 pct as nuclear reactors back on line

Enel (LSE: 0NRE.L - news) says Q1 net ordinary profit rises 10 pct

Banco BPM's debt recovery business attracting interest-CEO

Banco BPM Q1 net profit boosted by insurance deal

Randgold ends gold venture with Cradle Arc in Mali

YNAP on track for de-listing after Richemont offer breaches threshold

Italy Tod's expects sales to turn positive in second half of year

(Danilo Masoni)

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MORNING CALL: EUROPEAN SHARES SEEN HIGHER (0525 GMT)

European shares are set for a higher start today with financial spreadbetters expecting

Britain's FTSE to add 0.2 percent, while Germany's DAX is seen rising 0.4

percent and France's CAC gaining 0.3 percent.

Over in Asia, stocks rose with energy shares leading the way as crude oil prices bolted

higher after U.S. President Donald Trump's decision to pull out of a nuclear deal with Iran.

(Danilo Masoni)

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