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LIVE MARKETS-Stocks to watch: Infineon, Airbus, EssilorLuxottica

Reuters - UK Focus
·2-min read

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@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London.

STOCKS TO WATCH: INFINEON, AIRBUS, ESSILORLUXOTTICA (0745 GMT)

Futures point to another blow for European bourses with 2% plus declines across the board as coronavirus anxiety continues to grip investors.

In the corporate world, Infineon in focus after a Bloomberg reported that Washington recommended Trump to block the German chipmaker's proposed $10 billion deal to buy Cypress Semiconductor as it poses a security risk.

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Airbus shares could take a hit as it got zero orders for February due to coronavirus, but worth remembering that the recent sell-off has likely priced-in most of the bad news.

EssilorLuxottica is the other name to watch out for after the company said it expects is first-half revenues to be slower (I'd let you guess the why here).

Non-virus news: British pharma AstraZeneca seen down 2% after its combination treatment for a form of bladder cancer failed to meet the main goal.

(Thyagaraju Adinarayan)

*****

ANOTHER DAY, ANOTHER SELL-OFF (0637 GMT)

Stocks are seen opening sharply lower again today on top of yesterday's ugly sell-off that took bank stocks into bear market territory along with autos, travel & leisure and oil & gas.

The number of global coronavirus cases is fast approaching the 100k mark with fears of a massive economic damage sending shivers down investors' spine.

Financial spreadbetters IG expect London's FTSE to open 114 points lower at 6,592, Frankfurt's DAX to open 255 points lower at 11,690 and Paris' CAC to open 116 points lower at 5,246.

"Markets have shifted from pricing temporary China weakness to a more protracted global event, which will see a good chunk of global GDP go up in smoke," said Stephen Innes, chief market strategist at AxiCorp.

(Thyagaraju Adinarayan)

*****

(Reporting by Danilo Masoni, Joice Alves, Julien Ponthus and Thyagaraju Adinarayan)