EUROPEAN EQUITY OPEN: Stocks rise after the open after positive handovers from Wall St and Asia

OPEN: European equities opened on the front foot, following positive sessions on Wall Street and in overnight APAC trade. Gains in the US followed commentary from officials, where Federal Reserve members tempered enthusiasm for aggressively hawkish policy, while a Treasury economist also provided soothing comments on inflation. The central bank speakers slate is quiet on Tuesday, leaving traders to focus on data (ISM, JOLTs out of the US; final manufacturing PMIs in Europe), geopolitics (Blinken/Lavrov call in the US morning) and earnings (Google after the US close today); Apple’s earnings last week gave some confidence regarding the health of highly concentrated mega-caps after the recent rout, and this theme will be put to the test with the mega-caps that are left to report this week (after Google today, Facebook is due Wednesday, Amazon due Thursday). Closer to home, this morning saw decent earnings from bank UBS (UBSG SW) and HeidelbergCement (HEI GY).

INDICES: At 08:07GMT, Euro Stoxx 50 +1.1%, FTSE 100 +0.9%, DAX 40 +1.1%, CAC 40 +1.0%, FTSE MIB +0.8%, IBEX 35 +1.1%, SMI +1.2%. Gains are being led by Basic Resources, Industrials and Tech; the laggards include Telecoms and Health Care. 

NOTABLE MOVERS:

• UBS (UBSG SW) +6.2% after decent earnings


• HeidelbergCement (HEI GY) +4.0% after decent earnings


• Ubisoft (UBI FP) +3.0% after Sony buys Bungee for USD 3.6bln


• Airbus (AIR FP) +1.6% after Deustche Bank raised PT to EUR 142 (prev. 137)


• Vodafone (VOD LN) -1.0% ABRDN back strategy after activist


• Orange (ORA FP) -0.6% telecoms weaker


• BT (BT/A LN) -0.6% telecoms weaker

NOTE: Our full Newsquawk Daily European Equity Opening News (1/Feb) can be accessed here; additional European Equity News can be accessed here. 

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DAY AHEAD FEBRUARY 1ST:

• OPEC JTC Meeting


• Mid-Morning EST: Russia’s Lavrov, US’ Blinken call


• 08:15GMT/03:15EST: Spain Manufacturing PMI (JAN)


• 08:45GMT/03:45EST: Italy Manufacturing PMI (JAN)


• 08:50GMT/03:50EST: France Manufacturing PMI (JAN, Final)


• 08:55GMT/03:55EST: Germany Unemployment Data (JAN)


• 08:55GMT/03:55EST: Germany Manufacturing PMI (JAN, Final)


• 09:00GMT/04:00EST: EZ Manufacturing PMI (JAN, Final)


• 09:00GMT/04:00EST: ECB Bank Lending Survey


• 09:00GMT/04:00EST: Italy Unemployment Rate (DEC)


• 09:00GMT/04:00EST: South Africa Manufacturing PMI (JAN)


• 09:30GMT/04:30EST: BoE Credit Data (DEC)


• 09:30GMT/04:30EST: UK Manufacturing PMI (JAN, Final)


• 10:00GMT/05:00EST: EZ Unemployment Rate (DEC)


• 10:00GMT/05:00EST: France New Car Registrations (JAN)


• 10:00GMT/05:00EST: Italy New Car Registrations (JAN)


• 10:30GMT/05:30EST: Germany 2-Year Schatz Auction


• 11:00GMT/06:00EST: United Parcel Service Inc (UPS) earnings (preview)


• 11:30GMT/06:30EST: Spain New Car Sales (JAN)


• 12:00GMT/07:00EST: Brazil PPI (DEC)


• 12:00GMT/07:00EST: Mexico Business Confidence (JAN)


• 12:00GMT/07:00EST: South Africa Total New Vehicle Sales (JAN)


• 12:30GMT/07:30EST: Exxon Mobil Corp (XOM) earnings (preview)


• 13:00GMT/08:00EST: Brazil Manufacturing PMI (JAN)


• 13:30GMT/08:30EST: Canada GDP (NOV)


• 13:55GMT/08:55EST: US Redbook (29/JAN)


• 14:00GMT/09:00EST: ECB Weekly Asset Purchases Data


• 14:30GMT/09:30EST: Canada Manufacturing PMI (JAN)


• 14:45GMT/09:45EST: US Manufacturing PMI Final (JAN)


• 15:00GMT/10:00EST: US ISM Manufacturing PMI (JAN) (preview)


• 15:00GMT/10:00EST: US JOLTs (DEC)


• 15:00GMT/10:00EST: US Construction Spending (DEC)


• 15:30GMT/10:30EST: Mexico Manufacturing PMI (JAN)


• 15:30GMT/10:30EST: US Dallas Fed Services (JAN)


• 16:00GMT/11:00EST: Bundesbank's Buch


• 18:00GMT/13:00EST: Brazil Balance of Trade (JAN)


• 21:05GMT/16:05EST: Alphabet Inc (GOOGL) earnings (preview)


• 21:05GMT/16:05EST: Starbucks Corp (SBUX) earnings (preview)


• 21:15GMT/16:15EST: Advanced Micro Devices Inc (AMD) earnings (preview)


• 21:15GMT/16:15EST: PayPal Holdings Inc (PYPL) earnings (preview)


• 21:30GMT/16:30EST: US API Energy Inventories (28/JAN)


• Full Newsquawk Daily Economic Releases (1/Feb) can be accessed here


• Full Newsquawk US daily US Earnings Estimates (1/Feb) can be accessed here

01 Feb 2022 - 08:17- EquitiesData- Source: Newsquawk