LIVE MARKETS-Opening snapshot: PSA and Fiat Chrysler steal the show

* European shares open little changed before Fed meeting * Fiat Chrysler and PSA confirm tie-up talks, stocks rally * Bank earnings in focus: DB, CS, StanChart, Santander * Fed seen cutting rates, focus on policy outlook Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your thoughts on market moves: julien.ponthus.thomsonreuters.com@reuters.net OPENING SNAPSHOT: PSA AND FIAT CHRYSLER STEALS THE SHOW (0828 GMT) It's the main headline of the day so it's only fair in a way that PSA and Fiat Chrysler get the spotlight this morning with their shares surging 8.7% and 7.5% respectively. The French carmaker is the top performer on its home turf and same goes for its Italian would-be match in Milan. The brides are well in the race for the top spot on the STOXX 600 . Although both stocks are on fire, they will struggle to catch up Germany's Fuchs Petrolub which jumped about 12% on the back of better-than-expected earnings. It's not only fun and joy in the sector though with Renault, PSA's arch rival, falling 4% as its shareholders are probably getting a big blast of Fomo. What could also curb the enthusiasm for the sector is Pirelli's 5.5 percent fall after the tyre maker cut its guidance. It seems to a good day for France Inc with L'Oreal up 6 percent as it defies the perceived gloom of the Chinese market. The French benchmark is up 0.2%. Plenty of action in the banking sector with Deutsche Bank posting the worst performance of the DAX with a 4% fall after yet another quarterly loss. Bayer on the other hand took the lead for German blue chips, rising 2.5% on solid results. Because the overall market has no clear directional trend yet, here's a look at the top movers on the STOXX 600 instead: (Julien Ponthus) ***** ON THE RADAR: CORPORATE TOP NEWS OVERLOAD (0736 GMT) Futures have opened sideways with no clear directional trend in Europe. What's clear however is that there is such a huge flow of corporate news that it will be difficult to be sure not to have missed anything before the open and the market, which tends to be quite unforgiving these days, gives its verdict. Before getting in the Q3 action, let's first flag out a major piece of news in the auto industry with Fiat Chrysler confirming talks with French rival PSA for a potential tie-up. News of the tentative merger comes as Germany's Volkswagen lowered its full-year outlook for vehicle deliveries, warning of slowing demand. Lots to take in the banking industry too: Deutsche Bank reports 832 million euro Q3 loss on restructuring StanChart flags growth, interest rate headwinds after Q3 profit beat Credit Suisse doubles Q3 net profit Santander Q3 net profit falls 75% as UK charges offset Brazil strength But there are heavyweights across all sectors making headlines this morning so in no particular order, he's the rest of the top news: click here to get it on Eikon: Airbus cuts delivery goal on Hamburg plant snags Record Q3 output boosts Total's cash flow, low prices hit profit Lower oil and gas prices weigh on OMV Q3 profit Bayer says number of glyphosate plaintiffs jumps to 42,700 Clariant Q3 profit and sales fall as economic climate worsens Angry Birds maker Rovio's Q3 profit halves year-on-year EssilorLuxottica confirms 2019 targets after stronger Q3 sales Britain's Next keeps full year guidance after Q3 sales rise (Julien Ponthus) ***** FED WATCHING, Q3 GALORE AND THE XMAS BREXIT ELECTION (0542 GMT) Christmas will come early to the UK this year, precisely on December 12 in the form of a UK general election. It's far from certain however that the polls will deliver anything on Boris Johnson or Jeremy Corbyn's wish list but less than 48 hours ahead of Halloween, investors aren't spooked by the prospect of the process going all wrong. The pound is roughly stable at 1.2870 and according to IG, financial spreadbetters expect London's FTSE to open just 7 points lower, so nothing dramatic there indeed. Frankfurt's DAX is also seen retreating slightly at the open by 25 points but Paris is should be flat. With Wall Street on and off record highs, the Fed's meeting today and the expected interest rate cut will be key, especially after it emerged that Washington and Beijing may not complete their interim trade agreement in time to sign in Chile next month. Amid all that news let us not forget that we are in for one of the busiest day of the Q3 season with a flurry of results such as Bayer, GlaxoSmithKline, Suez or Total. Last but not least, there will also be a deluge of indicators from the euro zone which should shed more light on whether there is light to be seen at the end of the macro gloom tunnel. (Julien Ponthus) ***** (Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)