Live Markets: On the radar: Banking M&A, Vonovia
04/09/2020 07:40
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: BANKING M&A, VONOVIA (0640 GMT)
European stocks are set to edge down at the opening shrugging off a huge pull back in U.S.
tech stocks while waiting for U.S. jobs data later in the day.
A big M&A move is expected in the banking sector with Bankia BKIA.MC and Caixabank
CABK.MC discussing a merger to create the biggest lender in Spain with more than 650 billion
euros in total assets; details of the potential deal could be announced today. urn:newsml:reuters.com:*:nL8N2G068O
Roche ROG.S received Emergency Use Authorization from the U.S. Food and Drug
Administration for a coronavirus versus flu test. urn:newsml:reuters.com:*:nASN000BRP
On the earnings front, Berkeley BKGH.L confirmed its pre-tax profit guidance and said it
had net cash in excess of £1 billion ahead of next week’s dividend payment. urn:newsml:reuters.com:*:nASN000BRW
More companies are looking for fresh capital. Shares in Vonovia VNAn.DE are down 3.4% in
early trade after the company said it was seeking to raise about 1 billion euros by offering new
shares to institutional investors, with proceeds to be used to repay debt due in the fourth
quarter. urn:newsml:reuters.com:*:nASN000BQR Ryanair raised 400 million euros from shareholders via a share placement,
at a price of 11.35 per share. urn:newsml:reuters.com:*:nASN000BS4
Shares in Kudelski KUD.S are up 4% in premarket trade after the company said its Internet
of things laboratory will become a test lab for Amazon’s Alexa voice services.
(Stefano Rebaudo)
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MORNING CALL: NO CLEAR DIRECTION YET (0528 GMT)
European stock futures seem not to be affected by a Wall Street fall overnight and are
hovering around the floating line with no clear direction yet.
Some analysts argue that the U.S. market just saw some profit taking and not a risk-off move
as the spillover into currencies and bonds was limited.
Investors await key U.S. job data later today.
U.S. stock indexes scored overnight their biggest one-day decline in nearly three months as
the technology sector was sold off.
(Stefano Rebaudo)
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