LIVE MARKETS-Opening snapshot: autos rev higher as U.S.-EU trade tensions ease

* European stocks open higher, autos jump

* Trump agrees with EU to work to lower trade barriers

* Big results day: Smith & Nephew, BATS, RELX, AstraZeneca, Airbus all rise after updates

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OPENING SNAPSHOT: AUTOS REV HIGHER AS U.S.-EU TRADE TENSIONS EASE (0733 GMT)

European shares have opened higher, thanks to strong gains for autos stocks as the U.S. and

EU make progress in dialling down trade tensions, while results have boosted shares in Airbus,

Smith & Nephew and British American Tobacco.

Here's your opening snapshot:

(Kit Rees)

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ON THE RADAR AHEAD OF THE EUROPEAN OPEN (0639 GMT)

Thawing U.S.-EU trade tensions are set to propel European stocks, with futures for the

exporter-heavy DAX up 1.2 percent.

The trade breakthrough comes on a very busy earnings day for Europe, with big hitters

including Shell, Airbus, Diageo, AstraZeneca, Roche, AB InBev and Schneider Electric all giving

updates.

Of note are Daimler's results in which its Q2 profit dropped 30 percent. This follows the

all-too-familiar pattern seen at peers GM, Fiat and Ford where the trade tensions between the

U.S. and China have resulted in them cutting forecasts (Daimler did so last month).

Facebook's tumble in after-hours trading could put a dampener on tech stocks today, so

that's another area to watch.

Here are some more headlines:

Shell launches $25 bln buyback plan, Q2 profits misses

Diageo's sales up despite currency headwind

Smith & Nephew sticks to full-year view as established markets recover

New drugs help as AstraZeneca battles through generic losses

French oil major Total's Q2 profits jump on new record output

Spain's DIA risks guidance as core profit keeps falling

Anglo American confirms Quellaveco copper project, H1 earnings rise

Relx maintains revenue growth trajectory, reiterates outlook

Spain's Repsol Q2 adjusted net profit rises 23 percent y/y

Puma lifts sales target after solid second quarter

Austria's Verbund beats Q2 profit helped by good water supply

Dutch telco KPN beats estimates with slight rise in core profit

French retailer Casino to sell 15 pct of Mercialys, keeps goals

Schroders posts 8 pct rise in H1 pretax profit, assets up

UK caterer Compass posts lower margins on UK challenges

Russia's Polymetal says Q2 revenue up 13 pct y/y

Britain's Sky reports 9 percent rise in core earnings

Virgin Money reports 10 pct rise in H1 profit

AccorHotels drops plan to buy minority stake in Air France-KLM

German consumer morale slips heading into August

(Kit Rees)

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EUROPEAN EARNINGS: BUSY, BUSY, BUSY (0604 GMT)

European stocks futures have opened higher on what is a very busy earnings day. Autos are

definitely going to be in focus following Daimler's results, in which the carmaker's

second-quarter profit tumbled 30 percent, citing tariffs as one of the contributing factors.

This follows a pattern seen in results from General Motors, Fiat and Ford.

Here are key earnings-related headlines so far this morning:

Daimler Q2 profit hit by WLTP emissions, clouding outlook

AB InBev gets World Cup boost to beat expectations

Schneider Electric raises FY outlook again; sees growth across businesses, regions

Roche raises 2018 outlook as new drugs gain traction

Deutsche Boerse Q2 net profit up 19 pct on higher volatility

Airbus Q2 core profit doubles after A350 cost improvements

Nestle expects better H2 after quarterly growth beats poll

Spain's Bankia posts 36 pct rise in Q2 profit on lower provisions

Nokia posts weak profits, sees 5G boost later in 2018

Telecoms group Orange Q2 core operating profits rise 3 percent

Spain's Telefonica H1 core profit down 0.9 percent

French reinsurer Scor's net profit hit by U.S. tax reform in Q2

Valeo cuts 2018 profit outlook, blaming new emissions tests

France's Ingenico cuts core profit outlook on Iran exit, currency headwinds

Suez sells 20 pct of U.S. water business for $601 mln, H1 earnings robust

France's Klepierre raises guidance on strong leasing activity

Sika reports better-than-expected H1 profit

Essilor keeps financial targets, says Luxottica deal on track

Covestro ups profit guidance on strong plastics demand

Equinor Q2 adj operating income lags forecast due Norway maintenance

(Kit Rees)

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OPENING CALL: EUROPEAN SHARES SET TO RALLY (0533 GMT)

Good morning. European shares are expected to open higher, according to financial

spreadbetters, after the European Union offered trade concessions in talks with U.S. President

Donald Trump.

Spreadbetters expect Britain's FTSE to open 0.1 percent higher, Germany's DAX to climb 0.7

percent and France's CAC to gain 0.4 percent.

The thawing in trade tensions helped Wall Street rise, though we're seeing signs of pain in

tech stocks after Facebook's shares tumbled in extended trade after it warned about slowing

growth and climbing expenses.

Asian shares were lacklustre, however, with worries over the impact of trade frictions on

growth weighing on China and Hong Kong stocks.

(Kit Rees)

(Reporting by Kit Rees and Danilo Masoni)