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 Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Danilo Masoni (danilo.masoni@thomsonreuters.com) and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan.
ON THE RADAR: VACCINE DEVELOPMENTS, AB FOODS (0641 GMT)
European stocks are set to open higher as worries about a U.S. tech selloff eased after the Nasdaq on Friday closed lower but well above its session low with Apple scoring a tiny gain for the day.
More news on the vaccine front with Australia expecting to receive its first batches after a deal struck with CSL CSL.AX to manufacture two vaccines - one developed by rival AstraZeneca AZN.L and Oxford University, and another developed in CSL's own labs with the University of Queensland. Sanofi's chief in France said a vaccine that Sanofi SASY.PA is developing with Britain's GlaxoSmithKline GSK.L was likely to be priced at less than 10 euros. British Foods ABF.L expects full-year profit at its Primark fashion chain to be at least at the top end of its previously guided range after trading in its latest quarter exceeded expectations. Treasury wants to find a buyer for Monte dei Paschi di Siena BMPS.MI by the end of the year to help the bailed-out bank to clean up its remaining problem loans. is close to reaching an agreement over the future of Atlantia ATL.MI unit Autostrade per l'Italia, Prime Minister Giuseppe Conte said on Saturday in an interview. Progress has been slowed recently by difficulties in agreeing a valuation for the unit with state lender Cassa Depositi e Prestiti (CDP), which is due to take control of Autostrade. RYA.I boss Michael O'Leary's proposed 458,000 euro annual bonus came under fire on Friday, as an influential investor advisory firm urged shareholders to oppose the package.
(Stefano Rebaudo)
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MORNING CALL: IN THE BLACK DESPITE U.S. TECH LOWER (0533 GMT)
European stock futures are in the black despite a new selloff in tech shares on Wall Street on Friday and Asian stocks on their back foot worried about high valuations.
The Nasdaq on Friday closed lower but well above its session low as selling eased late in the session, with mega-cap tech companies paring losses though only Apple AAPL.O managed a tiny gain for the day.
Investors are still uncertain about whether the U.S. is staging just some profit taking or a massive risk-off move is on its way.
Some traders said a pile of red flags was building up, while mentioning Softbank. Its shares fell 7% following media reports that the conglomerate made big bets on equity derivatives tied to listed tech companies. Rebaudo)
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