* STOXX 600 up 0.2 pct * Earnings dominate European share trading * Ericsson falls 8 pct after loss wider than expected * Capita plummets 35 pct after profit warning, rights issue Jan 31 (Reuters) - Welcome to the home for real time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger to share your thoughts on market moves: helen.reid.thomsonreuters.com@reuters.net BAD MONTH FOR UK OUTSOURCERS GETS WORSE (0830 GMT) It's been a terrible month for UK outsourcers. After Carillion collapsed, now Capita is going into brace mode following a profit warning, scrapping its dividend and announcing it will go to shareholders for fresh funds. The new CEO Jonathan Lewis also wants to raise cash from asset sales as he sets out a vision for a simpler business focused on fewer markets. But he expects the company to bleed cash this year and the business outlook appears to have got even worse since the company's last market update, with Lewis pointing to delays in decision making, weakness in new sales and a higher level of attrition than expected. An index of support services companies is down 0.6 percent this morning in a rising market. Babcock is down 3 percent, Serco 1.5 pct, Kier 2 percent. (Tom Pfeiffer) ***** OPENING SNAPSHOT: EARNINGS DOMINATE EUROPEAN SHARE TRADING (0816 GMT) European shares have opened slightly higher this morning with a broad-based move higher, but it's earnings which are driving moves. Individual gains and losses on the STOXX 600 are ranging between a gain of 6.2 pct and a loss of 31.8 percent, the latter thanks to Capita's plunge. More on that in a bit. Here's your opening snapshot: (Kit Rees) ***** KEY CALLS FOR EUROPEAN EQUITIES (0758) It looks like we could see some hefty moves today thanks to earnings. Among those standing out for us (based on indications from trading desks): Capita - called as much as 40 percent lower after a big profit warning and dividend suspension Infineon - seen down 3 to 4 percent, traders saying sales came were in line but the firm cut its sales guidance Ericsson - seen down 2 to 3 percent on the back of a sales miss H&M - called up as much as 2 percent thanks to better than expected results, though outlook and sales weak (Kit Rees) ***** WHAT'S ON THE RADAR FOR EUROPEAN STOCKS (0753 GMT) A hesitant recovery seems to be in store for European stocks after a global risk-averse turn dented benchmarks yesterday. Euro zone blue chips were still on track for their best month since September, though, as a month of eye-watering gains across equities drew to a close. Results take centre stage today, with a slew of companies reporting across industrials, banking and retail. Banks had mixed results as ING’s profit disappoints while SEB beats expectations. The sector is under extra pressure to deliver strong results as it’s become a favourite since the end of last year as investors rotated away from tech and into financials. Even after Tuesday’s losses, the STOXX banks index is set for its best month since March last year. It'll be a dark day for Capita (and pay day for short-sellers) as the outsourcer's shares are indicated down as much as 40 percent after the company announced an unholy trinity of a profit warning, rights issue and dividend suspension. Autos stocks could be under pressure after data showed British car production fell last year for the first time since 2009 and investment slumped by a third as uncertainty over Brexit hit demand. Pharmaceuticals could also be a focus after President Trump again took aim at the sector, lambasting high drug prices in his State of the Union speech. And in an early sign of the weak dollar hurting some exporting European companies, chipmaker Infineon slashed its revenue guidance, blaming the greenback. Here are some extra headlines which could move the market this morning: UK car output drops for first time since 2009, investment slumps U.S. agencies probe Apple over slowing iPhones -Bloomberg Italy's Safilo sees 2017 adj EBITDA halving JCDecaux beats fourth-quarter revenue target (Helen Reid) ****** EARLY MORNING EUROPEAN HEADLINE ROUND-UP (0736 GMT) It's a busy day of earnings today, so here's a summary of the headlines we're looking at. Europe: H&M Q4 pretax profit falls less than expected Siemens Q1 profit dips on Power and Gas business declines ArcelorMittal upbeat about 2018, slowly resumes dividend Ericsson posts bigger than expected Q4 loss Santander Q4 profit falls 4 pct on U.S. impairments Truck maker Volvo raises market outlook after Q4 order boom Lonza's full-year core profit soars 82 pct on acquisitions Electrolux Q4 operating profit tops forecast Infineon slashes revenue guidance on weak U.S. dollar SEB raises dividend as Q4 profit beats expectations Energy group Total announces major deepwater oil discovery in Gulf of Mexico ING quarterly profit misses on costs, weaker financial markets Dutch telco KPN's Q4 results slip as roaming rules hurt Sanofi and partner seek European Medicines Agency review for sleep sickness product Wartsila Proposes Share Split UK: Britain's Capita plans rights issue after profit warning Britain's SSE raises FY profit outlook Centamin posts fall in 2017 core profit on lower output, higher costs Wizz Air posts record passenger numbers and profit in third quarter UK's Britvic Q1 revenue up 3.3 pct Dairy Crest says 9-month revenue well ahead of last year Shell says to sell its stake in Thai Bongkot fields to PTTEP for $750 mln Macro: German retail sales fall unexpectedly in December (Kit Rees) ***** FUTURES INDICATE HESITANT RECOVERY FOR EUROPEAN STOCKS (0708 GMT) Stock futures have opened up 0.1 percent across the major European benchmarks, suggesting a rather hesitant recovery from yesterday's sharp falls. While the STOXX, DAX and CAC40 are set to rise, ending January on a positive note, the FTSE 100 is on track to fall further with futures down 0.2 percent. A rising pound could be piling extra pressure onto the British index. (Helen Reid) ***** WEAK DOLLAR WOES FOR INFINEON (0657 GMT) In an early sign the weak dollar could be a strain on some European companies, particularly those reliant on exports, chipmaker Infineon just cut its 2017/18 revenue guidance, blaming the greenback's weakness. The stock is indicated down 1.9 percent in pre-market trade. (Helen Reid) ***** RESULTS WATCH: SIEMENS STRUGGLES, ARCELORMITTAL RESUMES DIVIDENDS (0641 GMT) Results are rolling in thick and fast today from industrials as well as several banks. German engineering group Siemens reports a fall in quarterly industrial profit due to continued weak demand from the power and gas sector. Profit was in line with analysts' forecasts, but profit margin shrank. Interestingly the group says it got a net 437 million euro benefit from U.S. tax reforms in the first quarter. The world's largest producer of steel, ArcelorMittal, was more upbeat, with profit ahead of expectations and resuming dividend payments after skipping them for 2015 and 2016. The $0.10 payout undershoots analysts' expectations of $0.30, though. A slew of banks reporting today as well, with ING's Q4 profit missing expectations while Sweden's SEB raises its dividend after strong results. Meanwhile impairments in its U.S. unit dented Santander's numbers. The pressure's on for European banks, a leading sector in this year's rally, to deliver convincing results, so it'll be interesting to see how banking shares react today. Also in results to watch today, especially considering the tech rally after AMS results earlier this week, will be chipmaker Infineon. More on that soon. (Helen Reid) ***** MORNING CALL: EUROPEAN STOCKS TO RECOVER (0619 GMT) Good morning and welcome to Live Markets. Looks like European stocks could recover slightly today after suffering their biggest daily loss since November yesterday in a global risk-averse turn. Only the FTSE is seen edging slightly further down, having sunk to five-week lows yesterday as miners and banks tumbled. Overnight Asian stocks lost further ground, falling from their record highs as the global rise in bond yields weighed on equities. The dollar found some support, however, ahead of the Federal Reserve's policy decision. Spreadbetters call the DAX 25 points higher at 13,222.1, the CAC 40 up 8 points at 5,481.7, and the FTSE down 4 points at 7,584.3. (Helen Reid) ***** (Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus)