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IFX - Infineon Technologies AG News Story

€31.09 -0.5  -1.5%

Last Trade - 9:05am

Sector
Technology
Size
Large Cap
Market Cap £35.27bn
Enterprise Value £38.47bn
Revenue £8.59bn
Position in Universe 36th / 1051

LIVE MARKETS-On our radar: tech, Greggs, Deutsche Post, Credit Suisse

Tue 1st October, 2019 7:54am
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
    
    ON OUR RADAR: TECH, GREGGS, DEUTSCHE POST, CREDIT SUISSE (0653 GMT)
    Stock futures indicate a higher open for Europe as investors back risky assets underpinned
by hopes that there would be no further escalation in U.S.-China trade tensions. The world's top
two economies will be back at the negotiating table next week to restart talks.
    European markets are seen up 0.2% to 0.4% buoyed by strong gains in Wall Street and Asia,
driven by the tech sector.
    Shares of European iPhone component suppliers STMicro  STM.PA , Dialog Semi  DLGS.DE ,
Infineon  IFXGn.DE , AMS  AMS.VI  could get a nice boost from Apple's  AAPL.O  overnight rally
after report sales of the company's newest iPhones were off to a strong start.
    In other company news, British baker and takeaway food group Greggs  GRG.L  is seen rising
1%-3% after it reported another strong quarter with company-managed shop like-for-like sales
rising 7.4% in the 13 weeks to Sept. 28.
    Credit Suisse  CSGN.S  shares are rising 0.4% in premarket trade after CEO Tidjane Thiam
gets a clean chit in an internal investigation into the botched surveillance of the bank's
former wealth management head Iqbal Khan in a probe that cost Chief Operating Officer
Pierre-Olivier Bouee​​​​​​​ his job.
    DHL owner Deutsche Post  DPWGn.DE  set new profit targets and said it would invest heavily
in areas like warehouse automation and analytics as it seeks to keep up with fast-growing
ecommerce. One dealer says the targets are in-line, "but would have hoped for more ambition".
Dealers see the shares coming under a bit of pressure.
    UK plumbing parts distributor Ferguson  FERG.L  seen up 1%-2% after reporting profits
slightly ahead and boosting dividend, while shares of upholstery and flooring provider SCS Group
 SCSS.L  are seen down 5% after it said it had a challenging start to the year. The statement
may kindle worries about Brexit uncertainty on consumer spending.
    Swiss chemical company Clariant  CLN.S  is likely to move on its updated financial outlook.
    In broker research, British Airways owner IAG  ICAG.L , Air France  AIRF.PA  and Wizz Air
 WIZZ.L  could fly higher after Bank of America Merrill Lynch start coverage with a "buy"
rating. The bank is bearish on Lufthansa  LHAG.DE , starting with "underperform".     
    
    Key headlines:
    Credit Suisse clears CEO in spying probe, COO Bouee to go  urn:newsml:reuters.com:*:nL5N26M0JN 
    Deutsche Post plans new investment as ecommerce booms  urn:newsml:reuters.com:*:nFWN26L10Y
    Thyssenkrupp appoints new CEO in bid to rebuild confidence  urn:newsml:reuters.com:*:nL5N26L4QR
    Mediaset debt rises as pan-European growth kicks in  urn:newsml:reuters.com:*:nL5N26L6NE
    Italy's Generali pulls out from race for bancassurance partnership BBVA - press​​​​​​​
 urn:newsml:reuters.com:*:nL5N26M0HQ
    British baker Greggs sees sales growth slow in latest quarter  urn:newsml:reuters.com:*:nASP0017K5
    AstraZeneca's combo lung disease therapy falls short of FDA approval  urn:newsml:reuters.com:*:nL3N26M1MS
    
    (Thyagaraju Adinarayan)
    *****    
        
    MORE GAINS, TECH IN FOCUS (0535 GMT)
    European stocks are seen opening higher as worries over further escalation in U.S.-China
trade tensions abate as the world's top economies are scheduled to restart trade negotiations.
    Positive vibes from Wall Street's rally overnight is set to fuel gains in the pan-European
STOXX 600  .STOXX  index, which ended Monday at its highest closing level since May 2018.
    U.S. tech sector drove Wall Street higher with record highs now within striking distance.
Apple shares were in spotlight after CEO Tim Cook told a German daily that sales of the
company's newest iPhones were off to a strong start.  urn:newsml:reuters.com:*:nL2N26L1C1
    Apple suppliers in Europe could potentially rally on the strong iPhone sales report.
    Financial spreadbetters IG expect London's FTSE to open 19 points higher at 7,427,
Frankfurt's DAX to open 55 points higher at 12,483, and Paris' CAC to open 13 points higher at
5,691.
    Our wrap-up on Q3: Global stocks stalled in Q3 as bonds boom and dollar zooms  urn:newsml:reuters.com:*:nL5N26L6HK
    
    (Thyagaraju Adinarayan)
    *****

 (Reporting by Danilo Masoni, Joice Alves, Josephine Mason, Julien Ponthus and Thyagaraju
Adinarayan)
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