LIVE MARKETS-SocGen, BNP get thinner slice Of shrinking French M&A pie

* European shares rise

* STOXX 600 set for quarterly gain

LONDON, June 29 (Reuters) - 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

SOCGEN (Paris: FR0000130809 - news) , BNP GET THINNER SLICE OF SHRINKING FRENCH M&A PIE (1126 GMT)

There are quite a few surprising facts to be found in the data dug out this morning by

Thomson Reuters (Dusseldorf: TOC.DU - news) ' Deals Intelligence team.

First (Other OTC: FSTC - news) , while there's been a global surge in M&A since the beginning of the year, up about 60

percent as of June, there's been a big slump in France, which is supposed to be the

fast-recovering former sick man of Europe.

See for yourself below, it somewhat doesn't fit the Macron recovery narrative very well:

Second thing, SocGen and BNP Paribas (LSE: 0HB5.L - news) , which would be expected to rule on their home turf,

have seen their market share plunge within a year to both local and U.S. rivals, which is bound

to trigger some kind of irritation, especially towards the latter.

BNP (Paris: FR0000131104 - news) bankers have fallen from the number one spot to the ninth, while SocGen's M&A team is

now ranked 15th, from the eighth position a year ago:

(Julien Ponthus)

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WHAT'S ON THE RADAR AT THE EUROPEAN OPEN (0651 GMT)

The rebound in Asia is spreading to Europe but this is most likely only a temporary respite

as China easing some foreign investment restrictions is by no means the end of the trade war

saga. Futures point to European bourses rising up to one percent. This month and this week will

however close on a loss even if Q2 will post a gain.

A deal struck by EU leaders on immigration is also a big relief for investors as it means

Merkel will leave Brussels with a win, allowing her to solidify her coalition.

On the downside, the rise in the euro that followed the deal may deliver a headwind to

European stocks.

Among possible movers, Deutsche Bank (IOB: 0H7D.IL - news) failed Fed stress test but as Goldman notes, "this was

expected, in our view, and we see no material change to our view".

Belgium's Galapagos (LSE: 0JXZ.L - news) is seen plunging at the open on the back of disappointing drug results.

Other possible movers include France's Accor (EUREX: 485822.EX - news) buying half of Sam Nazarian's SBE, HelloFresh

which may sell ready-made meals online, the Daily Mirror publisher expecting a 11 percent

revenue rise.

More gloomy headlines for car makers as VW's labour boss says EU C02 rules could ruin

profits.

(Julien Ponthus)

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FUTURES POINT TO A BULLISH OPEN (0612 GMT)

European futures have started trading and they point to a strong open, particularly in

Germany where they are rising nearly one percent.

Looking at the bigger picture, even a rally today won't change the fact that this week and

this month will close on a loss for the pan-European STOXX 600.

On the bright side, the second quarter of 2018 will end on a win.

(Julien Ponthus)

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STOCKS FACE EURO SPIKE AS EU STRIKES IMMIGRATION DEAL (0544 GMT)

Good news and bad news for European stocks markets: while EU leaders struck a deal on

immigration, thereby helping Merkel stabilize her coalition and ease German political risk, the

resulting surge in the euro may provide some headwind for European stock markets this morning.

"The migrant crisis in Europe threatened German Chancellor Angela Merkel’s fragile

coalition, which was in danger of collapsing if she left the summit without a deal", commented

Jasper Lawler, head of research at London Capital Group, noting that "the euro picked up from

1.157 to 1.162 in the space of a few short minutes".

The euro is currently up 0.7 percent.

(Julien Ponthus)

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MORNING CALL: EUROPEAN BOURSES SEEN RISING AFTER ASIA'S REBOUND (0527 GMT)

European bourses are set to rise in the wake of Asia's overnight rebound with trade war

fears easing somewhat. Asian markets rallied from nine-month lows helped by China easing

foreign investment limits, but this is likely to be only a temporary respite a week before

initial U.S. and Chinese tariffs are set to take effect.

Financial spreadbetters expect London's FTSE to open 40 points higher, Frankfurt's DAX to 88

points up and Paris' CAC to rise 36 points at the open.

In other news, England lost 1-0 to Belgium to finish second in World Cup Group G.

(Julien Ponthus)

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