Live Markets: What's on the radar: German cars, Swiss pharma, Ted Baker

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11/06/2019 07:48

Welcome to the home for real-time coverage of European equity markets brought to you by Reuters
stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share
your thoughts on market moves: thyagaraju.adinarayan.thomsonreuters.com@reuters.net
    
    WHAT'S ON THE RADAR: GERMAN CARS, SWISS PHARMA, TED BAKER (0622 GMT)
    European stock futures rise marginally, extending gains from yesterday, as German and Swiss
markets open for business after a long weekend. German auto stocks BMW  BMWG.DE , Daimler
 DAIGn.DE  and VW  VOWG_p.DE  are seen rising 1-1.5% after Washington dropped tariff threat on
Mexican imports.
    In the UK, Fashion retailer Ted Baker seen down 10-20% as it warns on annual profit after a
"challenging" start to 2019. 
    More troubles in fashion? AIM-listed fast-fashion retailer Quiz  QUIZ.L  also seen tanking
more than 20% after a significant drop in profits.
    Deutsche Bank  DBKGn.DE  shares may take a hit as credit ratings agency Fitch downgrades the
bank's long-term issuer default rating to BBB citing the lender's difficulty in improving its
profitability. While, rival Commerzbank  CBKG.DE  seen 1.2% lower after reports that Dutch
lender ING Groep decided against a tie-up with the German bank.  urn:newsml:reuters.com:*:nL8N23H35I
    German biotech company Evotec  EVTG.DE  seen 1-3% higher after it receives $23.8 million
grant from Bill & Melinda Gates Foundation for TB Therapies
    In the Swiss world, Roche  ROG.S  shares seen slightly higher after FDA grants
earlier-than-expected approval to antibody-drug conjugate Polivy for treatment of patients with
advanced lymphoma. Analysts estimate Polivy sales at nearly $1 billion by 2024.
    Smaller rival Cosmo Pharma's  COPN.S  shares seen 3% higher after U.S. FDA accepts new drug
application for the Swiss company's Remimazolam, an ultra-short-acting intravenous
benzodiazepine sedative.
    
    Key headlines:    
    Roche's combo lymphoma treatment wins U.S. FDA approval  urn:newsml:reuters.com:*:nL4N23H390
    Siemens receives 1 bln euro order from Russian Railways  urn:newsml:reuters.com:*:nL8N23E4GZ
    Air France KLM's May passenger numbers rose 3.3% from last year  urn:newsml:reuters.com:*:nP6N22I02A
    Roche reshuffles board, executive posts  urn:newsml:reuters.com:*:nASP0012RX
    ING will not pursue Commerzbank tie-up - Handelsblatt  urn:newsml:reuters.com:*:nL8N23H35I
    Ted Baker profit forecast low after "challenging" start to 2019  urn:newsml:reuters.com:*:nL4N23I1W3
    Crest Nicholson reports lower first half profit  urn:newsml:reuters.com:*:nL4N23I1XF
    British caterer Compass to acquire Fazer Food Services  urn:newsml:reuters.com:*:nL4N23I1W8   
    
 
 
    
    (Thyagaraju Adinarayan)
    *****
    
    EUROPEAN SHARES SEEN SLIGHTLY HIGHER (0532 GMT)
    European stocks are seen slightly higher taking cues from Asia, and as U.S.-Mexico deal
continues to boost investors' sentiment.
    Financial spreadbetters IG expect London's FTSE to open 8 points higher at 7,384,
Frankfurt's DAX to open 70 points up at 12,116, and Paris' CAC to open 4 points lower at 5,378.
    Rally in Asian stocks is led by Chinese shares which jumped 1.7% after the country said it
will allow local governments to use proceeds from special bonds as capital for major investment
projects.
    "European markets got off to a positive start to the week... however the gains were limited
by concerns over the durability of the US's immigration deal with Mexico, as well as the
prospect that we could see tariffs go on the remaining $300bn of Chinese goods by the end of the
month," Michael Hewson at CMC Markets says.
    
    (Thyagaraju Adinarayan)
    *****

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