LIVE MARKETS-Opening snapshot: European shares pull higher
* European stocks open slightly higher
* Indivior (Frankfurt: 2IVA.F - news) shares soar after co wins preliminary injunction
* M&A chatter lifts industrials
* Asian shares decline on soft China data
LONDON, July 16 (Reuters) - Welcome to the home for real-time coverage of European equity
markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her
on Messenger to share your thoughts on market moves: helen.reid.thomsonreuters.com@reuters.net
OPENING SNAPSHOT: EUROPEAN SHARES PULL HIGHER (0721 GMT)
European shares have pulled slightly higher from a flat start as M&A talk lifts shares in
big industrial conglomerates Thyssenkrupp (IOB: 0O1C.IL - news) and Kone (LSE: 0II2.L - news) , while a preliminary injunction win against
Dr. Reddy's Laboratories has spurred Indivior's shares a huge 27 percent higher.
Trading is still cautious as the Q2 reporting season gets underway, while a busy political
schedule and the trade war overhang are also keeping investors on edge.
(Kit Rees)
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WHAT TO WATCH AT THE OPEN: DAX, INDIVIOR, DIALOG (0645 GMT)
The damage from weaker Chinese GDP numbers is set to spread to European shares after Asian
stocks fell on the data, piling further pressure on a market already bruised by the Sino (Dusseldorf: 1205802.DU - news) -U.S.
trade war.
Futures for Europe’s major benchmarks are flat to down 0.2 percent, with the DAX likely the
biggest faller as the most China-exposed of Europe’s economies.
Investors’ attention will begin to turn to Europe’s earnings season starting in earnest this
week, though Societe Generale (Swiss: 519928.SW - news) analysts highlighted this is also a “very political week” starting
today with top EU officials meeting the Chinese Premier, Trump holding a summit in Helsinki with
Putin, and a parliamentary vote on Brexit.
In company news Indivior is seen rising as much as 20 percent after the pharma firm won a
preliminary injunction against generic rival Dr Reddy’s Laboratories, while chipmaker Dialog
Semiconductor is indicated up 4 to 5 percent in pre-market after it upped its margin
expectations in results reported after the close on Friday.
Meanwhile Peugeot could see a small hit from the news that German authorities are
questioning its Oval division.
Also on the radar are Thyssenkrupp and Kone after a report over the weekend that the two
have held talks about a deal to merge their elevator operations.
(Helen Reid)
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FUTURES DECLINE AS WEAKER CHINA DATA WEIGHS (0618 GMT)
Futures are flat to 0.2 percent lower across the major European benchmarks as weaker Chinese
GDP data takes its toll on markets.
"With (Other OTC: WWTH - news) trade tensions still at the forefront of investor concerns, the economic data from
China assume an even greater level of importance than usual," writes Ian Williams, economics and
strategy research analyst at Peel Hunt.
In the UK, a parliamentary debate over Brexit will be a focus for markets as discord in the
leading Conservative party continues after two high-profile government resignations last week.
(Helen Reid)
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EARLY MORNING HEADLINE ROUND-UP (0552 GMT)
Among the morning news to watch today, reported merger talks between Thyssenkrupp and Kone
owners, results from Dialog Semiconductor (LSE: 0OLN.L - news) and Indivior winning an injunction against generic
rival Dr Reddy's.
In what Societe Generale analysts call a "mainly political week", investors will also be
keenly watching today's meeting between top European Union officials and the Chinese Premier on
trade, and the Trump-Putin summit in Helsinki.
Here's your headline sweep:
Britain unveils "short and sharper" code for companies
Planemakers to kickstart Farnborough jetliner order battle
Thyssen and Kone owners held merger talks on elevator ops -paper
UK car insurance premiums see biggest annual fall since 2014-survey
German transport ministry confirms official hearing on Opel emissions
Ryanair flight loses cabin pressure, 33 hospitalised - German police
Indivior wins preliminary injunction against generic rival
Germany's Knorr Bremse to decide on IPO in September - Boersen-Zeitung
Norway oil, gas union widens six-day drilling rig strike
Dialog Semiconductor Eyes Higher-Than-Expected Q2 Profitability
Cassiopea Announces Positive Interim Analysis Phase 2 Results For Breezula
(Helen Reid)
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MORNING CALL: HESITANT OPEN FOR EUROPE AFTER ASIAN STOCKS DECLINE (5GMT)
European shares are in for a hesitant start to the week after Asian markets were hit by
weaker Chinese GDP growth figures, piling further pressure on to equities already weighed by the
Sino-U.S. trade dispute.
Official data showed China's economy grew 6.7 percent in the second quarter of 2018, cooling
from the 6.8 percent growth registered in each of the previous three quarters, driving a 0.5
percent dip in Shanghai stocks.
After their second straight week of gains, it'll be interesting to see whether European
stocks can hold up this week as the earnings season kicks off in earnest with investors' eyes
peeled for any trade war impact on companies.
Spreadbetters call the DAX 12 to 13 points higher at 12,562, the CAC 40 up 11 points at
5,440, and the FTSE 100 10 points lower at 7,659.
(Helen Reid)
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(Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus)