LIVE MARKETS-That spring optimism... Watch out!

* Shares turn lower

* Travel and oil stocks weigh

* EasyJet slips 8% 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.

THAT SPRING OPTIMISM... WATCH OUT!

Stock markets are pricing in a V-shaped recovery, but it might be the case to avoid letting emotions carry you away.

The coronavirus crisis has created such levels of uncertainty, that investors might current be way "too optimistic" as they try to make sense of what is happening to the global economy, says NN IP in a note.

"When the market outlook is so volatile," NN IP says, "investors often fall prey to emotions and biases that result in suboptimal investment decisions".

One of the reasons for improved sentiment might be the way news and social media are analysed using natural language processing (NLP) to rapidly extract, aggregate and categorise large volumes news and social media feeds, NN IP says.

Equity investors are pricing in a V-shaped recovery, owing to improving medical data on COVID-19 and the cash central banks pumped into the economies.

"This represents a disconnect from the real economy in which people’s fears for their health, jobs and a second wave of coronavirus infections will persist for some time," the Dutch asset manager adds.

(Joice Alves)

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OPENING SNAPSHOT: EASYJET AND WIRECARD STEAL THE SHOW (0755 GMT)

European bourses are all nicely trading in the black this morning as investors are hopeful the easing of some lockdown measures will bring a revival in business activity across Europe.

France opens shops today after weeks of lockdown while the UK PM Johnson said on Sunday the lockdown will not end yet, but he announced some easing of restrictions encouraging people that can't work from home -especially in the manufacturing and construction sectors- to return to work.

Britain's blue chips and midcaps are also catching up with some Friday's gains as the London stock exchange was closed for a bank holiday on Friday when easing tensions between the world's two largest economies and better than expected U.S. unemployment data lifted markets in Europe.

The pan-Euroean index is up 0.5% with basic resource companies leading the gains.

In terms of single stocks, EasyJet shares tumbled 7.1% to the bottom of the FTSE 100 and the STOXX 600 as Johnson said the UK would soon need to quarantine people flying into the country to prevent a coronavirus infections from abroad.

At some point this morning, shares in Wirecard jumped 12%, it is now up 9% at the top of the STOXX 600 after a management reshuffle.

(Joice Alves)

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ON THE RADAR: AIRLINES, HENKEL AND LAFARGEHOLCIM (0650 GMT)

European futures are pointing to a higher open as more countries get ready to ease some of the coronavirus lockdown measures.

In the corporate front, there’re some positive results: Henkel, the maker of Persil detergent and Schwarzkopf shampoo, reported a big jump in Q1 sales of laundry detergents and household cleaners, which offset sales in coronavirus-hit adhesives and beauty care divisions.

Leg Immobilien has confirmed its 2020 earnings forecast after Q1 results.

Meantime, other corporates struggle to see some clarity, Nordex said it is not sure when it could issue a new 2020 outlook.

More pressure on airlines: easyJet urged the UK to keep any quarantine requirements on travellers arriving in the UK for only a short period, as airlines face a new threat to their survival after British PM said yesterday that a quarantine will soon be needed for people flying to the country to prevent infections from abroad.

In the M&A front, LafargeHolcim's deal to sell its $2.15 billion Philippines business to industrial group San Miguel Corporation fell through.

Thyssenkrupp said it has less time for its restructuring plan than expected as "the difficult economic situation at Thyssenkrupp is being significantly intensified by corona", its CEO said in a note to staff.

(Joice Alves)

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EYES ON EASING LOCKDOWNS (0540 GMT)

European futures are pointing to an open in the black as more European countries get ready to ease some of the coronavirus lockdown measures, even as Germany reported a pick up in new cases just days after its leaders loosened social restrictions.

In France, shops and hair salons can reopen today after eight weeks of lockdown. . In the UK, PM Boris Johnson said on Sunday the COVID-19 lockdown will not end yet but some 'careful' easing will begin.

Stocks are seen continuing on the positive vibe seen on Friday when easing tensions between the world's two largest economies and better than expected U.S. unemployment data lifted markets.

(Joice Alves)

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