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LIVE MARKETS-Opening snapshot: DAX at 16-month high, Nokia tanks

* European shares open higher * DAX +0.7% * Eyes on October PMIs, ECB meeting * Earnings in focus: Nokia, Daimler 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: OPENING SNAPSHOT: NOKIA TANKS, DAX AT 16-MONTH HIGH (0737 GMT) European shares are off to a positive start with the DAX leading the way, up 0.7% to its highest since mid-June 2018, as auto stocks get a lift after a well-received update from Daimler . A profit warning from Nokia is however a big dampener with its shares falling more than 20% to their lowest in over 6 years, overshadowing the uplift from better than expected results from Apple suppliers STMicro and Dialog. Europe's tech index is down 1%, leading sectorial losers. As the earnings season gathers plenty of steam other top moves on the STOXX 600 are also driven by earning updates. Atos has shot up 6% after its Q3 organic growth beat expectations, on the same day that France proposed the technology group's CEO Thierry Breton as its candidate to head industrial policy in the next European Commission. Kion Group is rallying 12% after reporting better than expected results across its business units. An earnings miss however has sent shares in TechnipFMC down 9.2%. Here's your opening snapshot: (Danilo Masoni) ***** WHAT'S ON OUR RADAR: NOKIA, DAIMLER AND CHIPS (0655 GMT) European shares are set to edge up as investors digest a wave of earnings updates and with growing confidence over a Brexit deal helping keep major benchmarks near recent highs, while the FTSE struggles to recover as hopes of an orderly UK-EU divorce keep sterling supported. Futures on the DAX are up 0.3% after hitting their highest in 15 months and euro zone futures rise 0.2% just ahead of the release of the flash PMI surveys for October, which will be closely watched for any sign of a recovery following a string of macro disappointments. FTSE futures are flat. In earning updates, Nokia is set to slump heavily at the open after it reported Q3 profit in-line with expectations but lowered its full-year profit forecasts for 2019 and 2020, citing tough competition and additional investments. Its shares are seen down 7-15%. On a more positive note Daimler shares are seen rising after Q3 EBIT growth beat expectations. The company announced cost cuts as it reduced its revenue outlook for Mercedes-Benz trucks unit but Q3 EBIT before rose 8% to 2.69 billion euros. Its results follow disappointing numbers from Ford which cut its operating profit forecast, highlighting the challenges for the export oriented sector. Among chipmakers, results from Apple suppliers Dialog Semi and STM both beat earning expectations. Dialog shares are up 3.7% in early Frankfurt trade. That could support the tech sector after Microsoft forecast sales for its cloud computing services that topped expectations, sending its shares up slightly. Royal Bank of Scotland swung to a Q3 loss, after making a fresh 900 million pound provision to settle mis-selling claims in Britain's biggest consumer banking scandal. One trader sees its shares down 3% at the open. Other stock movers: New York, states reach $700 mln settlement with Reckitt over opioid probes; Nordea's Q3 earnings take 1.3 bln euro hit as new CEO takes over; Norwegian Air secures Airbus fleet deal, earnings top forecast; Puma ups guidance despite U.S. tariffs on China; Equinor Q3 profit drops more than expected on low gas sales; BASF operating profit dives 24% as trade disputes weigh; AstraZeneca lifts drug sales forecast on China, cancer gains; China demand drives sales bounce at Birkin bag maker Hermes. (Danilo Masoni) ***** A WAVE OF EARNINGS (0550 GMT) It's already getting really busy with earnigs updates across Europe. Just look at the headlines below, and more are to come: Nokia cuts full-year profit outlook on tough competition Daimler Q3 operating profit down 8% on weaker car and truck sales Alfa Laval Q3 core profit tops forecasts Nordea's Q3 earnings take 1.3 bln euro hit as new CEO takes over Sika's 9-month operating profit rises, confirms FY target Norwegian Air Q3 profit beats forecast Schindler Q3 profit rises on strong Asia-Pacific, China growth Equinor Q3 profit drops more than expected on low gas sales BASF operating profit down 24% as trade disputes weigh Swiss engineer ABB's earnings offer some relief as U.S., China weaken New York, states reach $700 mln settlement with Reckitt over opioid probes GSK gets FDA nod for wider use of ovarian cancer drug Zejula (Danilo Masoni) ***** European shares are expected to open little changed with euro zone benchmarks staying near recent highs and the FTSE struggling to recover meaningful from its recent slump as investors expect the EU to grant another delay to the Brexit deadline, avoiding a chaotic exit of the country from the bloc. Pending fresh developments over Brexit, investors' immediate focus will shift today the flash PMIs for October which will be closely watched for any sign of a recovery in Europe's poor economic conditions, and to the European Central Bank's policy meeting, the last one under the leadership of Mario Draghi. Of course eyes will remained glued to the Q3 earnings season. From the US a surprise profit at Tesla sent its shares soaring overnight, while Microsoft's forecast for sales of its cloud services topped estimates, even as quarterly growth slows for its Azure business. Ford, however, cut its operating profit forecast after a disappointing Q3. Spreadbetters at IG expect London's FTSE to open 8 points lower at 7,253, Frankfurt's DAX to open 9 points higher at 12,808 and Paris' CAC to open 4 points higher at 5,658. (Danilo Masoni) ***** (Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)