April 8 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
NEW RECORD HIGH FOR STOXX (0847 GMT)
European shares are off to a positive start this morning with the STOXX 600 making a fresh record high in early deals and the FTSE 100 hitting its highest in more than a year, helped by dovish messaging from the Fed minutes.
The pan European benchmark was last up 0.3% while the UK's top share index added 0.1%, both off initial highs.
"Investors' risk appetite is on the rise again as the Fed officials renewed their dovish tone yesterday by announcing that the massive bond-buying program will continue for 'some time',” said Pierre Veyret, analyst at ActivTrades.
"The mood has been further strengthened by Janet Yellen confirming a $2 trillion fiscal aid plan in the US," he added.
In single stocks worth highlighting that telco M&A is back.
KPN shares are rising 2.3% after a media report said private investors were preparing an attempt to buy the top Dutch telecoms provider. KPN declined to comment.
(Danilo Masoni)
*****
KEEP THE FAIT (0709 GMT)
The messages from the Fed's minutes could not be clearer. First, despite the blowout March payrolls report, labour markets are nowhere near its threshold for reining in easy monetary policy. And the Fed aims to let inflation average 2% for some time before contemplating any tightening.
In short: FAIT or flexible average inflation targeting.
The message seems to have sunk in - 10-year Treasury yields are some 10 basis points off recent highs, a spike in short-dated yields has abated and some of the most aggressive pricing of Fed rate hikes has been scaled back.
Markets will await Fed Chair Jay Powell's appearance at the IMF spring meetings but the minutes have lifted U.S. equity futures half a percent, following Wednesday's records on Wall Street. European stocks are opening higher too, with the UK's FTSE looking to extend its Wednesday run to record highs.
On the economy front, strong German domestic demand lifted industrial orders for the second straight month, hot on the heels of this week's PMI revisions that showed euro zone business activity back in growth.
The fly -- (or the virus) -- in the ointment is of course COVID-19 with infections surging in India, Tokyo set for emergency measures and some evidence of blood clots linked to the Astra Zeneca vaccine.
Key developments that should provide more direction to markets on Thursday:
- Corporates: Holland-based Prosus PRX.AS sold 2% of Chinese gaming giant Tencent for $14.7 billion in the largest-ever block trade; Clothing retailers Asos and Uniqlo reported robust profits, the former seeing an astonishing 275% leap.
- Japan's consumer confidence improved in March.
- G20 finance officials to debate President Joe Biden's minimum corporate tax plan
- Data: Euro zone, UK construction PMI; Euro zone PPI Feb; U.S. weekly jobless numbers
- IMF/World Bank Spring Meetings: World Bank head Kristalina Georgieva, Fed Chairman Powell, and WTO Director General Ngozi Okonjo-Iweala to speak
- ECB: Vice President Luis de Guindos speaks
- Emerging markets: Peru, Sri Lanka central bank meetings
(Sujata Rao)
*****
EUROPEAN BOURSES SEEN ON THE BLACK AFTER FED MINUTES (0535 GMT)
In a data heavy morning, European shares are seen in the black this morning after the Fed renewed its commitment to keeping policy super loose even as the U.S. economy enjoys a rapid recovery.
Fed remains wary about the ongoing risks of the pandemic and is committed to bolstering the economy until its recovery is more secure, according to minutes of the U.S. central bank's latest policy meeting. stock futures ESc1 just hit fresh record highs, while European futures are also in positive territory.
Eyes will also be on PMI figures for the UK and the EZ, which are due this morning.
Financial spreadbetters at IG expect London's FTSE to open 23 points higher at 6,909, Frankfurt's DAX to open 62 points higher at 15,239 and Paris' CAC to open 27 points higher at 6,158.
(Joice Alves)
*****
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ US Treasury Breather?
https://tmsnrt.rs/3g2yBwf
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>