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 (firstname.lastname@example.org), Joice Alves (email@example.com) and Julien Ponthus (firstname.lastname@example.org) in London.
ON THE RADAR: DIVIDEND, CAPEX AND GUIDANCE CUTS (0745 GMT)
While Wall Street’s overnight rally and a positive session in Asia may give traders some comfort, European futures this morning are anything but reassuring.
Volatility is high for such early hours and the trend has deteriorated quickly from a 0.5% rise to a fall of over 1.5% in less than an hour.
U.S. futures are also down about 1.5%.
The news flow isn’t particularly worrying this morning but you’ve got the same old coronavirus headlines with your daily dose of guidance dropping (Faurecia, Publicis), dividend deferrals (Tryg), capex cuts (Lafargeholcim) and production halts (Volkswagen, Glencore).
Habitual war economy stories too.
Like other European perfume makers doing gel or fashion houses producing masks, Italy's Armani is converting sites to produce medical overalls.
More news as well as to how blue chips are adjusting to the crisis with Italian travel caterer Autogrill in talks with airports, motorway operators and other landlords to cut fixed rents, Daimler seeking a credit facility of at least 10 billion euros to cope with the outbreak and Nestle announcing it will pay full salaries to employees affected by work stoppages for a minimum of three months.
MORNING CALL: THE BULL IN THE ROOM (0640 GMT)
Many indexes on both sides of the pond are now technically back in bull territory, up 20% from their lows.
But obviously, with so many countries waiting for the epidemic to peak and the surge of unemployment in the U.S., calling the return of the bulls seems very premature at best.
Anyhow, it's been a while since European futures looked so cool in early morning, with a modest 0.5% rise.
Yesterday's rally on Wall Street seems to still be spreading some feel-good effect across trading floors globally with Asia ending the day in the black.
U.S. futures are trading a tad lower, down 0.6% for the S&P.
(Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)