LIVE MARKETS-What we're watching at the open

* European shares seen steadying

* In Asia, shares fall but off lows

* Yuan retreat stalls on firmer-than-expected fix

* Deutsche Post ups forecast, Oerlikon cuts guidance

* Czech investor won't raise offer for Metro Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: rm://danilo.masoni.thomsonreuters.com@reuters.net

WHAT WE'RE WATCHING AT THE OPEN (0655 GMT)

European shares are set to steady as signals from the Chinese central that it won't embark on an aggressive yuan depreciation and better-than-expected Germany industrial orders provide some relief after a two-day rout that sent the STOXX 600 benchmark to its lowest in two months.

Futures on the trade sensitive DAX are up 0.2% while those on commodity heavy FTSE 100 are down 0.2% at their lowest since early February.

On the corporate front, there are some more earnings updates to digest, especially from corporate Germany, with the overall picture looking mixed. Fresh dealmaking activity will also keep investors busy.

Shares in Deutsche Post are up 2% in early trade after the group said it sees a further improvement in earnings in H2 due to restructuring measures and a rise in German postage prices despite a tough economic environment.

Shares in Beiersdorf are down 2.6% in early trade after the German consumer goods firm reported slowing sales growth for its Nivea skin care brand in Q2, although it confirmed its outlook for 2019.

Encouraging comments on the start of the quarter are pushing Heidelberger Druck up more than 5% in early trade, while shares in Gea, Norma and Pfeiffer Vacuum were all seen falling after results. In the aero defence sector, shares in both engineering firm Meggitt and engine maker Rolls Royce are seen opening 2% higher after results.

In M&A news, Metro shares are down 7.4% in early trade after Czech businessman Daniel Kretinsky's investment vehicle said it would not raise its 5.8 billion euro bid for the German retailer. Vivendi shares are instead seen rising 5-10% at the open after the French media conglomerate said it had started talks with Tencent Holdings to sell an initial 10% stake in its Universal Music Group division.

UK headlines:

UK retailers suffer weakest July sales growth on record - BRC

Rolls-Royce on track, forecasts cash improvement

Meggitt HY Underlying PBT 145 Mln Stg Vs. 136 Mln Stg

Intercontinental Hotels Group HY Total Revenue $2,280 Mln Vs. $2,113 Mln last year

Boohoo offers to buy online businesses of Karen Millen, Coast

Domino's half-year profit falls, says CEO to retire

TP ICAP hurt by investment bank trading woes

(Danilo Masoni)

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HEADLINES ROUNDUP: SOME MORE EARNINGS (0558 GMT)

Turning to the corporate front there are some earnings updates to digest this morning with the overall picture looking mixed.

Deutsche Post said it sees a further improvement in earnings in H2 due to restructuring measures and a rise in German postage prices despite a tough economic environment, while Swiss industrial group Oerlikon cut its 2019 guidance, citing market weakness as a result of global economic slowdown and uncertainties.

German consumer goods firm Beiersdorf confirmed its outlook for 2019, although sales growth slowed somewhat in the second quarter.

In M&A, bad news for Metro after Czech businessman Daniel Kretinsky's investment vehicle said it would not raise its 5.8 billion euro bid for the German retailer.

Here's your headlines roundup:

Deutsche Post sees improved earnings in H2, 2019

Oerlikon lowers 2019 guidance due to weaker economy

Beiersdorf confirms guidance for 2019

Czech investor Kretinsky won't raise offer for Germany's Metro

EU regulators approve Sanofi, Regeneron's Dupixent for adolescent cases

Unlisted automotive supplier Bosch sees sales stagnating in 2019 -CEO in Sueddeutsche Zeitung

Heidelberger Druck Q1 Net Loss After Taxes Widens To 31 Million Euros

U.S. metals firms urge Washington to drop copper items from EU tariff list

Italy's Fineco sees no M&A deal on the horizon after UniCredit sale

Italy court accepts Astaldi request for creditor protection after Salini offer

Sports Direct buys fashion retailer Jack Wills for 12.75 mln stg

Shell considers solar panels to power Singapore refinery site

(Danilo Masoni)

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EUROPE LOOKS SET TO STEADY AFTER TWO-DAY ROUT (0537 GMT)

After positing their biggest two-day drop since Brexit more than 3 years ago, European shares look set to steady near nine-week lows, even though sentiment remains hostage of worries over escalating trade tensions between China and the United States.

Financial spreadbetters at IG expect London's FTSE to open 17 points lower at 7,206, although Frankfurt's DAX is expected to open 14 points higher at 11,673, and Paris' CAC to open 2 points higher at 5,243.

Over in Asia, the MSCI's broadest index of Asia-Pacific shares outside Japan was last down 0.6%, having lost as much as 1.8% earlier in the session.

"Who doesn't love a good old Turnaround Tuesday story in the markets, but before I get too far ahead of ourselves, we have the Pboc to thank for tweaking the fix just enough to convince the markets mainland authorities are not embarking on a wave of aggressive Yuan depreciation," says Stephen Innes, managing partner at VM Markets Pte.

After breaching 7-per-dollar yesterday, the yuan's retreat slowed as the Chinese central bank's mid-point fixing today of 6.9683 was firmer than market expectations.

(Danilo Masoni)

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(Reporting by Danilo Masoni, Josephine Mason and Thyagaraju Adinarayan)