EUROPEAN EQUITY OPEN: Decent earnings, geopolitical denials pushes European indices higher after the open

INDICES: At 08:05GMT, Euro Stoxx 50 +0.5%, FTSE 100 -0.0%, DAX 40 +0.3%, CAC 40 +0.7%, FTSE MIB +0.1%, IBEX 35 +0.1%, SMI -0.1%.

OPEN: It is worth noting that equity futures have been paring back losses after geopolitical reports on the Russia/Ukraine front; initially it was reported that Ukraine had begun shelling separatists in Luhansk, although these reports were denied, allowing a more constructive tone of macro trading. In terms of stock specifics, it has been a very busy morning, once again. The highlights include: Standard chartered (STAN LN) boosted its bonus pool despite trying to cut costs; Reckitt Benckiser (RKT LN) sales topped estimates; Commerzbank (CBK GY) posted strong earnings which were above analyst forecasts; Kering (KER FP) Gucci division powered decent performance in the quarter; Airbus (AIR FP) returns to profit; Carrefour (CA FP) also posted decent numbers; Nestle (NESN SW) had a decent report amid stronger demand, but noted higher costs. The focus for European traders will fall on the ECB, with bigwigs Schnabel and Lance on the docket; there is also a lot of Fedspeak to digest in wake of the FOMC meeting minutes released Wednesday (no clues about increment of hike, not clues about the practicalities of balance sheet reduction; not as hawkish as feared). 

17 Feb 2022 - 08:06- EquitiesEconomic Commentary- Source: Newsquawk