LIVE MARKETS-On the radar: Commerzbank, Deutsche Bank, Nestle, Sanofi

* European futures down 2%

* Crude futures rebound 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@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan.

ON THE RADAR: COMMERZBANK, DEUTSCHE BANK, NESTLE, SANOFI (0648)

European bourses are set to open lower as concerns about the economic impact of the coronavirus outbreak keep the market in a risk-off mood.

Wall Street and Asia came under renewed selling pressure overnight after pinning hopes on a medical treatment for Covid-19 which is still not available.

In the corporate front, the credit agency S&P cut Commerzbank's rating by a notch and lowered its outlook for Deutsche Bank to negative from stable, as it expects earnings and asset quality to weaken significantly.

Food and pharmaceutical remain strong. Higher demand in France made Casino's first quarter sales accelerate. Nestle posted better than expected sales on customer stockpiles. Sanofi's good first quarter results were supported by demand for its medicines to treat pain and fever.

On another positive note, Saab Q1 profit topped forecast, but it dropped 2020.

Meantime, Canada gets Biomerieux formula for free to produce virus-testing chemicals. and AstraZeneca's Lynparza meets secondary goal in prostate cancer study.

More state support for airlines: Lufthansa, which reported a first quarter operating loss of 1.2 billion euro, aims to finalise a rescue package worth up to 10 billion euro by next week. The Italian government is expected to take full control of Alitalia in June.

Mediaset goes on with its plans to create a pan-European TV champion by raising its stake in ProSiebenSat.1 to 24.2% from 20.1%.

Vinci sees deeper revenue drops in the months ahead. Signifiy posted a 39% fall in net profit. Swatch Group sales at its own stores in China are up in April, CEO Nick Hayek told Blick newspaper. More fresh corporate headlines: Eni lowers output, capex targets on coronavirus as Q1 profits slide Pearson Q1 revenue falls 5% after COVID-19 closes schools, exam centres Burberry to maintain employee pay through coronavirus crisis

(Stefano Rebaudo)

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MORNING CALL: WORRIES ON THE PANDEMIC CONTINUE TO WEIGH (0535)

Futures on European bourses are well in the red this morning with investors still concerned about the economic impact of the pandemic as a final deal on an EU stimulus package will have to wait until summer.

After having already priced in a tumble in business activity across the world, investors hope for a medical treatment of Covid-19 and worry about lack of solutions at hand.

The European Union agreed on a joint financial fund of up to 2 trillion euros to help recover from the pandemic but delayed a decision on the details of the program.

(Stefano Rebaudo)

(Reporting by Thyagaraju Adinarayan, Joice Alves, Stefano Rebaudo and Julien Ponthus)