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192.55p -2.4  -1.3%

Last Trade - 18/09/20

Sector
Financials
Size
Large Cap
Market Cap £11.49bn
Enterprise Value £-4.33bn
Revenue £35.00bn
Position in Universe 87th / 1807

LIVE MARKETS-Opening snapshot: Ex-div, U.S. tariffs, Aegon, Thyssenkrupp

Thu 13th August, 2020 8:48am
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 Stefano Rebaudo
(stefano.rebaudo@thomsonreuters.com) in Milan.
    
    OPENING SNAPSHOT: EX-DIV, U.S. TARIFFS, AEGON, THYSSENKRUPP (0738 GMT)
    European stocks are in negative territory ending a four-day winning run as the U.S.
government left tariffs on Airbus and a host of other European goods unchanged. 
    Meantime a fresh basket of earnings reports also weighs on the pan European index  .STOXX ,
which is down 0.4%, with Aegon  AEGN.AS  and Thyssenkrupp  TKAG.DE  leading losses, down 11-12%
after results.
    Shares in Danish brewer Carlsberg  CARLb.CO  are down 5.6% after the company said Q2 sales
fell 15% and it expects organic operating profit for the FY to decline 10%-15%.
    The FTSE 100 fell for the first time in five days as a batch of blue-chip firms traded
ex-dividend, including Phoenix  PHNX.L  and Legal & General  LGEN.L . 
    
    (Joice Alves)
    *****
    
    
    ON THE RADAR: NORDEX , THYSSENKRUPP, RABOBANK, TUI (0635 GMT)
    Futures are pointing to an open in the red for European bourses with investors seeing a long
road back to health after the UK historic GDP drop, and as German companies say they expect
business to return to normal in an average of 11 months.  urn:newsml:reuters.com:*:nS8N2F8061
    In terms of corporate news, shares at Thyssenkrupp  TKAG.DE  are down 5.7% in early trade
after results, while Nordex shares are down 11.7% results as the German wind turbine maker
reports a H1 loss.   urn:newsml:reuters.com:*:nASN000AQJ
    Zurich Insurance's  ZURN.S  H1 operating profit fell 40% as payouts linked to the COVID-19
pandemic and weaker financial markets dented its business.  urn:newsml:reuters.com:*:nL8N2FF0Z4
    Dutch lender Rabobank  RABOVR.UL  said its H1 net profit fell 81% as impairment charges
soared due to the coronavirus pandemic.  urn:newsml:reuters.com:*:nL8N2FF1QE
    Danish brewer Carlsberg  CARLb.CO  said second-quarter sales fell 15% from a year earlier.
It now expects organic operating profit for the full year to decline 10%-15%.  urn:newsml:reuters.com:*:nL4N2FD3IA
    TUI  TUIT.L , the world's largest tourism company, posted a 1.1 billion euro loss in its 3Q.
 urn:newsml:reuters.com:*:nL8N2FF1HL
    Frankfurt listed shares in Airbus  AIR.PA  are down 3.8% in early trade after U.S. left
tariffs on Airbus aircraft unchanged at 15%, despite moves by the European Union to resolve a
16-year-old dispute over aircraft subsidies.  urn:newsml:reuters.com:*:nL1N2FE2HD
    A Scotch Whisky group said it is disappointed with the U.S. decision to retain tariffs.
 urn:newsml:reuters.com:*:nL8N2FF1HS
    On a brighter note, Lundbeck  LUN.CO  raises its 2020 operating profit forecast as the
Danish drugmaker slightly beat Q2 sales expectations.  urn:newsml:reuters.com:*:nL8N2FF1OZ
    
    Other corporate headlines:
    Heidelberger Druck Q1 orders plummet as pandemic stunts investment  urn:newsml:reuters.com:*:nL8N2FF1EA
    RTL Group sees ad decline slowing in current quarter  urn:newsml:reuters.com:*:nL8N2FF1DB
    Aegon H1 earnings miss expectations on U.S. coronavirus impact  urn:newsml:reuters.com:*:nL8N2FE6Z8
    Swisscom trims 2020 sales guidance as H1 revenue slips  urn:newsml:reuters.com:*:nFWN2FF034
    UPDATE 1-Deutsche Telekom Q2 results buoyed by Sprint consolidation  urn:newsml:reuters.com:*:nL8N2FF0TX
    
    (Joice Alves and Stefano Rebaudo)
    
    
    MORNING CALL: LONG CLIMB BACK TO HEALTH (0535 GMT)
    European stocks are seen opening lower this morning as the historic 20% crash of the British
economy in Q2 confirmed that the world's sixth-biggest economy entered a recession.
    The UK GDP drop was the most severe contraction reported by any major economy so far, with a
wave of job losses set to hit later in 2020.  urn:newsml:reuters.com:*:nL8N2FE1EL
    Helping a little sentiment, data showed this morning that French unemployment fell to 7.1%
in Q2 from 7.8% in Q1.  urn:newsml:reuters.com:*:nS8N2BY02J
    While in Asia, stock markets followed Wall Street higher, as investors returned to tech
stocks and gold after steady virus figures and a surprising jump in U.S. inflation boosted
sentiment.
    Financial spreadbetters expect London's FTSE to open 47 points lower at 6,233, Frankfurt's
DAX to open 6 points higher at 13,065 and Paris' CAC to open 6 points lower at 5,067.

    (Joice Alves)
    *****
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