LIVE MARKETS-On our radar: real estate, planes and miners
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: josephine.mason.thomsonreuters.com@reuters.net
ON OUR RADAR: REAL ESTATE, PLANES AND MINERS (0648 GMT)
European stock futures are showing unexpected resilience to downbeat sentiment in Asia overnight, shrugging off for now disappointing factory activity data for China deepened worries about damage from the tit-for-tat trade spat between Washington and Beijing as the world's top economies hit each other's goods with another round over tariffs.
The Eurostoxx are up 0.1%, while London's FTSE futures are outperforming as its heavyweight miners get a boost from strong iron ore prices overnight.
In early headlines, Germany's real estate sector is taking the spotlight after TLG Immobilien bought a 10% stake in rival Aroundtown for $1.14 billion and said it was considering a potential deal with the company.
The purchases values the shares at 8.3 euros per share, a 10% premium to Friday's close and shares are trading up about 7%. TLG shares are up about 2.6%. The sector rallied on Friday after a German newspaper reported the rent freeze planned by Berlin's regional government might be less strict than previously expected.
Airbus SE may get a lift from fresh concerns about possible delays to getting Boeing's 737 MAX back into service. The WSJ report citing government and pilot union officials briefed on the matter said friction between the company and international air-safety authorities threatens a new delay in bringing the fleet back into service.
On Sunday, American Airlines extended its cancellations of 737 MAX flights through Dec. 3 but said it remains confident that the aircraft will be approved to fly again this year following new software and pilot training.
An Italian court has ruled in favour of French media giant Vivendi in the ongoing legal wrangling over the restructuring plan for Mediaset, although the decision was not enough to scupper the deal.
In the latest sign that backing from Softbank is bearing fruit, Wirecard said it will be the preferred payment service provider for Softbank's U.S. unit Brightstar, a deal it said it expects to generate "significant transaction volume".
In a highly anticipated move, Europe's second largest PE fund EQT Partners announced plans for an IPO, confirming a Reuters report last week. Investor AB has a stake in the company.
TLG Immobilien weighs Aroundtown merger after buying 1 bln euros stake
Wirecard signs cooperation agreement with Softbank's Brightstar
Julius Baer decides to keep Kairos after strategic review
Italy's Carige expects to return to profit in 2021
Scout24's activist shareholders gain non-executive board seat
SSE launches sale of North Sea gas fields in single package - sale document
Italy's court rules in favour of Vivendi in Mediaset restructuring row
Rio Tinto takes GFG Alliance to arbitration over outstanding smelter payments
Lawyers seek $26 million in Volkswagen U.S. fuel economy settlement
Airbus pulls out of Canada fighter jet race, boosts Lockheed Martin's chances
SMTPC H1 Operating Profit Down At 8.8 Million Euros
EXCLUSIVE-Freenet-led revolt against Sunrise's UPC deal gains allies
Dechra ramps up contingency plan for a potential hard Brexit
De La Rue names Kevin Loosemore chairman designate
(Josephine Mason)
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EUROPE ON THE BACKFOOT (0527 GMT)
Weaker-than-expected manufacturing data from China and confirmation that Washington and Beijing slapped a new round of tariffs on each other's goods at the weekend are expected to sap investors' risk appetite on the first trading day for September.
European stocks ended the week and month on a strong note, with the pan European STOXX 600 at its highest since Aug. 2.
One exception today may be London's FTSE, which may get a boost from its mining heavyweights after the jump in iron ore prices overnight in China, the world's top consumer of the steelmaking raw material.
While most markets have worried about the damage to the global economy from the tit-for-tat spat, iron ore traders were buoyed by a pledge on Saturday from Beijing to beef up investment in infrastructure projects and regional development to support the world's No. 2 economy.
Financial spreadbetters expect London's FTSE to open 6 points higher at 7,213, Frankfurt's DAX to open 18 points lower at 11,921, and Paris' CAC to open 8 points lower at 5,472.
(Josephine Mason)
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(Reporting by Danilo Masoni, Josephine Mason and Thyagaraju Adinarayan)