LIVE MARKETS-Opening snapshot: autos skid, Aryzta sinks

* European stocks open slightly higher

* Wall St inches higher after FOMC minutes suggest gradual approach to rate hikes

* Trade concerns weigh on Asian shares

* Italian president invites political novice Conte to be prime minister

LONDON, May 24 (Reuters) - Welcome to the home for real-time coverage of European equity

markets brought to you by Reuters stocks reporters and anchored today by Kit Rees. Reach her on

Messenger to share your thoughts on market moves: kit.rees.thomsonreuters.com@reuters.net

OPENING SNAPSHOT: AUTOS SKID, ARYZTA SINKS (0720 GMT)

It's a bad start to the day for autos stocks, with BMW (EUREX: BMWE.EX - news) , Daimler (IOB: 0NXX.IL - news) , and Volkswagen (IOB: 0P6N.IL - news) driving the

DAX down, falling 2 to 2.3 percent after the U.S. launched a probe into autos tariffs and

Beijing replied that it would defend its interests. Renault (LSE: 0NQF.L - news) and Peugeot (Other OTC: PUGOF - news) are also falling around

0.4 percent, and Europe's autos sector is down 1.2 percent.

Not looking good for Swiss specialty baking company Aryzta (IOB: 0MFY.IL - news) either. Its shares are

sinking 25 percent to a new record low, bottom of the STOXX after yet another profit warning.

On the positive side Electrocomponents (LSE: ECM.L - news) is jumping 7.6 percent after it increased its

full-year dividend and announced an acquisition. Tate & Lyle (LSE: TATE.L - news) is another gainer after

results, up 4.3 percent.

And Paddy Power Betfair is feeling the glow after it merged its U.S. business with

Fanduel. The gambling company's shares are up 2.6 percent.

(Helen Reid)

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WHAT TO WATCH AHEAD OF THE EUROPEAN OPEN (0649 GMT)

Stocks futures are pointing to another day in negative territory for European equities as

uncertainty over U.S.-China trade talks and concerns over the new coalition’s spending plans in

Italy overshadow the Federal Reserve’s more gradual approach to rate hikes, as per the FOMC

minutes.

Autos stocks are indicated to fall today after the U.S. launched a national security

investigation into car and truck imports – the worry is that this could lead to new U.S. tariffs

and potential pain for German automakers in particular as the United States is its

second-biggest export market after China.

In terms of a U.S.-China trade deal, Trump has said that it would need “a different

structure”, adding more uncertainty.

Among corporate news, Deutsche Bank (IOB: 0H7D.IL - news) is shaking things up with plans to cut thousands of

staff to reduce costs and boost profitability. Equities sales and trading is set to see a 25

percent reduction in headcount. All eyes will now be on today’s AGM. DB’s shares are down more

than 31 percent so far this year, so this could be welcome news for frustrated investors.

Stock movers/company news:

Deutsche Bank to cut thousands of staff in investment bank revamp [nL5N1SV0RG

Sales at Britain's Kingfisher (Frankfurt: 812861 - news) mauled by Beast from the East

Paddy Power Betfair (Other OTC: PDYPF - news) merging U.S business with FanDuel

Deutsche Telekom (IOB: 0MPH.IL - news) to tie dividends to growing bottom-line profits

Westfield (Frankfurt: A113BB - news) shareholders approve $16 bln Unibail-Rodamco (Brussels: NL0000288652.BR - news) deal

German carmakers' shares seen down on US auto tariffs probe

Elliott eyes operational improvements after taking Thyssen stake

Novartis (IOB: 0QLR.IL - news) receives EU approval for biosimilar Zessly

British lender Paragon (IOB: 0NFG.IL - news) 's H1 profit up 4.7 pct

Go-Ahead upgrades profit after greater efficiency boosts rail

Aryzta further cuts full-year EBITDA guidance

Payments firm Adyen to list in Amsterdam in June

Vontobel to buy private bank from Raiffeisen for $700 mln

EUROPEAN STOCKS FUTURES DIP SLIGHTLY (0613 GMT)

European stocks futures have opened broadly lower this morning as traders keep an eye on

political developments in Italy and trade talks between the U.S. and China.

Here's your futures snapshot:

(Kit Rees)

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WHAT'S ON THE EUROPEAN EARNINGS AGENDA (0555 GMT)

It's pretty light on the corporate earnings side today but we do have a few full-year

updates from the likes of Tate & Lyle, United Utilities (LSE: UU.L - news) and a trading update from Inchcape (Other OTC: IHCPF - news) in

the UK.

Here's a list of European companies reporting results today:

VIEV.VI Q1 2018 Flughafen Wien AG Earnings Release

UNIQ.VI Q1 2018 UNIQA Insurance Group AG Earnings Release

BAVA.CO Q1 2018 Bavarian Nordic A/S Earnings Release

A8AG.DE Q1 2018 JDC Group AG Earnings Release

NETG.TE Q1 2018 Net Gaming Europe AB Earnings Release

PENO.OL Q1 2018 Panoro Energy ASA Earnings Release

KAMUX.HE Q1 2018 Kamux Oyj Earnings Release

TATE.L Full Year 2018 Tate & Lyle PLC Earnings Release

UU.L Full Year 2018 United Utilities Group PLC Earnings Release

ECM.L Full Year 2018 Electrocomponents PLC Earnings Release

INCH.L Q1 2018 Inchcape PLC Trading Statement Release

CLDN.L Full Year 2017 Caledonia Investments PLC Earnings Release

GOG.L Q3 2017 Go-Ahead Group PLC Trading Statement Release

RWI.L Preliminary Q4 2018 Renewi PLC Earnings Release

(Kit Rees)

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MORNING CALL: EUROPEAN STOCKS SET FOR STEADY OPEN (0533 GMT)

Good morning. Following on from yesterday's negative session, European stocks are set to

start today's trading flat to slightly lower, according to financial spreadbetters, as markets

continue to mull the implications of the proposed spending spree from Italy's anti-establishment

coalition.

Britain's FTSE 100 is seen opening 5 points lower, Germany's DAX is expected to lose 4

points and France's CAC is seen opening flat, according to financial spreadbetters.

However, there may be some support for equities from the U.S. Federal Reserve's minutes,

which indicated a gradual approach to rate hikes, which boosted Wall Street slightly. China and

Hong Kong stocks were a touch lower as uncertainty over U.S.-China trade talks sparked caution.

(Kit Rees)

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