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LIVE MARKETS-Opening snapshot: new peak for the DAX - confirmed

* European shares open higher; DAX hits new record peak

* Worries over spreading Coronavirus ease

* Asian shares up, investors welcome China virus response 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


OPENING SNAPSHOT: NEW PEAK FOR THE DAX - CONFIRMED (0842 GMT)

Spreadbetters and early indications from index futures all pointed in the direction of the DAX hitting a new record high at the open.

And here you go here's the trade-sensitive index's new all-time peak:

The easing fears over the Chinese virus are indeed helping with all major European benchmarks trading up around 0.2-0.5%.

Expectations tech could get support from IBM results and the update from ASML didn't prove fully true however. The index is up just 0.2%, weighed down by a 2% slide in Prosus after e-commerce group Naspers sold a stake in its subsidiary, while ASML is also down as its Q1 2020 sales guidance disappointed.

Autos have staged a big turnaround in the first minutes of trading. The export heavy sector is now up 1.5% to lead sectoral gainers, completely reversing opening losses that took it to its lowest level since mid-October.

Burberry which was indicated up sharply after it edged up its forecast for full-year sales is now down 3%, as opening gains quickly fizzled out.

(Danilo Masoni)

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ON OUR RADAR: DAX RECORD, EARNINGS, TRADE, ITALY (0750 GMT)

Easing fears over the new Chinese virus are set to lift European shares at the open with DAX futures pointing to a new record high for the trade-sensitive index as the focus turns towards the earnings season.

Tech stocks such as DAX-listed Infineon and SAP could find support after IBM beat expectations and semiconductor equipment maker ASML forecast double digit sales and earnings growth for 2020.

A conciliatory tone on trade from Trump could also help. The U.S. President said at Davos he had "very good" talks with the European Union, but added if a deal was not struck, Washington would strongly consider auto tariffs

Back to earnings, luxury label Burberry edged up its forecast for full-year sales with traders expecting a jump of as much of 5% at the open while elsewhere updates look more mixed.

A big slide in store for Ted Baker after the fashion retailer said its inventory on its balance sheet was overstated by 58 million pounds, more than double its preliminary estimates. Traders see its shares down 20-25%.

In M&A, Alstom is seen opening up 2% after a report said Bombardier is in talks to combine rail unit with the French group.

Political turbulence in Italy that has widened the country's government bond yield spread versus Germany could put pressure on Italian banks, which have large holdings of sovereign bonds.

(Danilo Masoni)

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QUICK RECOVERY (0634 GMT)

Markets have quickly recovered from the scare of possible economic damage from the spreading Coronavirus.

It looks that China's response has eased some fears about a global pandemic and after gains in Asian stocks overnight, Europe too is seen on the up this morning.

"Given the similarity of the Wuhan pneumonia and SARS in 2003, China and the rest of the world have learned a lesson from SARS," notes Stephen Innes chief market strategist at AxiCorp.

"Health agencies are now working much more proactively and transparently to contain the Wuhan pneumonia than SARS," he adds.

Financial spreadbetters expect London's FTSE to open 19 points higher at 7,630, Frankfurt's DAX to open 57 points higher at 13,613 and Paris' CAC to open 24 points higher at 6,070.

(Danilo Masoni)

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(Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)