January 29, 2018 / 7:58 AM / 3 months ago

LIVE MARKETS-Pre-open roundup

    * European stocks to rise
    * Asian trading was strong, dollar inched higher
    * Heavy earnings week begins

    Jan 29 (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
 
 
 
    PRE-OPEN ROUNDUP (0753 GMT)
    European stocks are expected to rise as a new week of the new year’s bull run dawns and
investors prepare for a big batch of corporate earnings which they’re scrutinizing closely as a
key test of the fundamentals driving the market higher.
    Hogging the spotlight today is likely to be AMS, the best-performing European stock
in 2017, set to have another strong day with pre-market indications for gains of 18 to 25
percent after the chipmaker and iPhone supplier reported its revenue for 2017 nearly doubled. 
    Paul Moran, head of research at Northern Trust Capital Markets, says "This is the guidance
raise we thought might happen at the December analyst day. Instead it comes today, just as
investors are questioning underlying demand in the iPhone X and hence 3D sensing."
    Sanofi has just swooped in to buy Belgian biotech company Ablynx,
knocking rival Novo Nordisk out of the running and underscoring the keen appetite for
pharma M&A. It comes days after Sanofi's biggest deal in seven years -- the $11.6 billion
acquisition of haemophilia expert Biorativ. 
    Sanofi's pockets proved too deep for Novo Nordisk and the price -- 45 euros per share, in
cash, compared to last week's closing price of 37 euros -- likely reflects the rarity of
commercial-stage biotech companies in Europe. The French pharma giant's shares are indicated
down as traders digest that price tag.
    Ablynx's shares, which the Belgian market regulator has suspended from trading until 0930
GMT, are indicated up 20 percent after the bid. 
    (Helen Reid and Tom Pfeiffer)
*****
    
       WHAT YOU NEED TO KNOW BEFORE EUROPE OPENS (0730 GMT)
    
        Hedge fund Elliott Management buys stake in UK pay-TV group Sky
    GKN received several approaches for business after Melrose bid- FT 
    Roche wins FDA's breakthrough therapy label for autism drug
    Apple component supplier AMS doubles 2017 revenue, raises outlook 
    German industrial workers to stage 24-hour strikes
    Banco BPM could be part of new wave of banking mergers - CEO  
    Spain's Bankia posts a Q4 loss of 235 mln euros after BMN integration 
    Provident Financial former execs sue lender over "unfair dismissal" 
    ACS/Hochtief consortium picked for L.A. airport rail project 
    Deutsche Bank to hike bonuses to more than 1 bln euros for 2017 - FAS 
    France's Engie acquires Brazil's ACS
    Israeli investor secures 22.5 pct stake in Germany's TLG Immobilien 

    
    MORNING CALL: EUROPEAN STOCKS TO RISE AS HEAVY EARNINGS WEEK BEGINS (0718 GMT)
    Good morning and welcome to Live Markets. 
    Futures indicate a strong start for European stocks as a heavy week for corporate earnings
begins. Investors are scrutinising this earnings season closely as a test of the foundations of
the stellar run-up in equities, and to see whether last year's impressive earnings recovery has
legs.
    In Asian trading the bull run continued, buoyed by strong earnings. Meanwhile the dollar
managed to edge up from lows but remains under pressure. 
    (Helen Reid)
    *****

    
 (Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus)
  
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