Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

LIVE MARKETS-On the radar: EU recovery fund and earnings season

Published 17/07/2020, 04:46 pm
Updated 17/07/2020, 04:48 pm
© Reuters.

© Reuters.

Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan.

ON THE RADAR: EU RECOVERY FUND AND EARNINGS SEASON (0645 GMT)

European stocks are in a wait and see mood ahead of the EU summit where leaders will discuss the recovery fund today and Saturday, while worries on the adverse impact of the virus, mostly in the U.S., continue to weigh.

On the corporate front there is a fresh batch of results hit by the coronavirus pandemic, but some are stronger than analysts' forecast.

Shares in Daimler DAIGn.DE are up 1.3% in premarket trade, after the company recorded a smaller than expected Q2 operating loss. Volvo posted a better than expected core profit in the Q2. Saab SAABb.ST numbers were in line with last year's, but the company doesn't rule out further impact on its business. ERICb.ST shares are seen up 2-3% after its Q2 core profit beats forecast. the banking space, Swedbank SWEDa.ST Q2 net profit beat estimates as increased lending and deposit-taking helped offset the impact of the coronavirus pandemic. Nordea Bank NDAFI.HE reported a 66% fall in second-quarter operating profit, hit by an increase in loan-loss provisions, while operating profit missed analysts' forecast. Tinto RIO.L reported a 1.5% rise in iron ore shipments in Q2 and said demand for the steelmaking ingredient was improving in China. ELUXb.ST sees robust demand in the near term. Tomra Systems TOM.OL said operations are close to normal. TELIA.ST reported quarterly core earnings well ahead of market forecasts thanks to cost savings. Optical ADAG.DE stocks jumped 10.2% in premarket trade after results. Airways will retire its entire jumbo jet fleet with immediate effect due to the downturn in travel industry caused by the coronavirus pandemic. Rebaudo)

*****

MORNING CALL: CAPPED BY VIRUS WORRIES (0533 GMT)

European futures are slightly in the black but with no clear direction yet, ahead of a crucial meeting today and Saturday about the EU recovery fund.

Worries about the spread of the virus in the U.S. continue to dampen expectations for a swift economic recovery and to put a lid to stronger gains in stocks, while hopes for more stimulus measures are propping up investor mood.

While Asian stocks are mostly in the black, Wall Street ended in negative territory despite strong retail sales data after paring some losses late in the session.

(Stefano Rebaudo)

*****

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ sdfq

https://tmsnrt.rs/3h56xp7 luxury brands

https://tmsnrt.rs/38YOnTa npl

https://tmsnrt.rs/32v5Wc2 TCE

https://tmsnrt.rs/3evRu6h economies

https://tmsnrt.rs/32lV1l6 sqdf

https://tmsnrt.rs/3fzUKyL TIPS

https://tmsnrt.rs/2WtVqye

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.