LIVE MARKETS-On our radar: Airlines bounce back, Meggitt, Prudential

Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan.

ON OUR RADAR: AIRLINES BOUNCE BACK, MEGGITT, PRUDENTIAL (0758 GMT)

Futures indicate 0.6% to 0.8% gain for European bourses at open as stocks attempt to bounce back from the massive drop on Monday that took the pan-European STOXX 600 into negative territory for 2020 and wiped almost half-a-trillion dollars.

Airlines are seen rising 2% after a brutal sell-off last session, especially in low-cost carriers such as Ryanair and easyJet.

While coronavirus fears are keeping investors away from risky assets, bankers are curbing trips to Italy after the outbreak over the weekend. Citi, Nomura and Credit Suisse among first to ask staffs to postpone their trips, sources tell us.

In corporate news, it's mostly headlines from UK companies.

Meggitt shares in focus after the British engineering company warned that Boeing's 737 MAX aircraft production halt and the disruption caused by coronavirus is likely to dent 2020 growth.

Tesco sells its 20% stake in a China JV for 275 million pounds, marking the British retailer's exit from the country. Banknote printer De La Rue, which flagged going concern doubts in November, unveiled cost-cutting plans and reaffirmed its profit outlook.

Prudential shares are seen rising 3% after activist investor Third Point amassed stake and called the British insurer to split into two companies.

British cybersecurity company Avast is seen falling 3% after its U.S. peer Palo Alto Networks forecast lower revenues for 2020.

A couple of interesting moves outside the UK: Novartis is seen opening lower after reports of negative side effects from its new eye drug Beovu; Leoni under pressure premarket after full-year revenues miss estimates.

Headlines to digest:

Judge delays Arkema criminal trial, citing withheld evidence

Renault says reserves the right to seek damages depending on Ghosn probe

Citi, Credit Suisse among banks curbing Italy trips on coronavirus fears

Group of UBI investors says Intesa Sanpaolo's offer undervalues stock

(Thyagaraju Adinarayan)

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TENTATIVE GAINS AFTER YESTERDAY'S ROUT (0652 GMT)

European stocks point to a small bounce back after yesterday's rout that wiped roughly half-a-trillion dollars off the pan European STOXX 600 index as the deadly coronavirus spread beyond China.

The damage to global stock markets stood at a whopping $1.5 trillion -— one of the biggest one-day market value losses ever.

"Losing all 2020's gains in one session was a dramatic way to do it but yesterday's resetting of equity valuations was overdue. They now more accurately reflect the downside threat to corporate earnings from the coronavirus," says Ian Williams, economics & strategy research analyst at Peel Hunt.

(Thyagaraju Adinarayan)

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