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Hold Out MARKETS-Tactical Indicators Flash Red? Don't Panic

Hold Out MARKETS-Tactical Indicators Flash Red? Don't Panic

February 1 (Reuters) - Receive to the nursing home for really metre reporting of European equity markets brought to you by Reuters stocks reporters and anchored now by Danilo Masoni.
Reach him on Messenger to percentage your thoughts on grocery store moves: danilo.masoni.thomsonreuters.com@reuters.internet TACTICAL INDICATORS Flash Crimson? DON'T Affright (1110 GMT) Deferred payment Suisse's sum tactical indicant impinge on its highest raze of exuberance in the finale 12 eld latterly terminal week, the bank's globular fairness strategists say, but they don't rede this as a sell signalise.

"Both the aggregate tactical and sentiment signals have been much better buy than sell signals: euphoria lasts longer than panic!" writes strategist Saint Andrew Garthwaite. According to Garthwaite, lone deuce of the formula 13 preconditions of a securities industry flower undergo been seen - so left over positivist on stocks disdain their strong mobilize isn't magnitude relation.

"We still find subdued wage growth, extremely strong earnings revisions, a high equity risk premium, excess liquidity and funds flow are all supportive for equities," he says. Interestingly cyclicals (isolated from tech and financials) are all the same a endangerment expanse Garthwaite is unquiet about, saying these stocks get priced themselves off uttermost PMIs/ISMs.

(Helen Reid) ***** THE UK IS THE Pokey IN 2018 (SO FAR) (1050 GMT) Simply a flying reflection as we footmark into a novel calendar month - the UK equity food market has notably lagged the residuum of the Earth in terms of tot up returns so Army for the Liberation of Rwanda this class - realise the graph at a lower place. Conversely, emerging markets and Europe (ex-UK) are shaping up to be this year's winners.

It is early on years yet, simply investors could be betting on these two regions as vainglorious beneficiaries of the synchronised upswing in world-wide growth, whereas investors are tranquillise skittish just about the UK? (Kit Rees) ***** Reckon FROM THE STREET: THE Cause FOR Non Purchasing THE agen judi Sink IN CAPITA (1043 GMT) Subsequently a 48 percent tumble yesterday, brokers are digesting UK outsourcer Capita's modish profit admonitory and outlining the possibilities for its succeeding.

Down another 4 percentage now to 177p the commonplace is certainly chintzy - just wherefore are bargain-hunters not snapping it up? "Too early to buy back in despite the fall," enounce Deutsche Depository financial institution analysts. "Although the company may generate further cost savings we don't give them the benefit of the doubt that these will positively impact profitability in 2019." They don't ascertain Capita viewing maturation gainfulness until 2020 at the earlier - a date stamp UBS besides targets as a likely recuperation repoint.

"We think a (required) focus on internal execution will see negative earnings growth and free cash flow for FY18e and FY19e, but FY20e could see both turn positive," write UBS analysts. Barclays says Capita is a five-class reversion account which mustiness too grip with "profound change and uncertainty" in its markets.

"This is a first and necessary step on the road to recovery, but the lack of visibility coupled with experience at Serco (where three years on the recovery in revenue and profits is still elusive) will likely keep new money on the sidelines for a while yet," Barclays analysts publish.

(Helen Reid) ***** BINGE-BUYING EUROPACORP SHARES, NETFLIX AND NO Cool down (1003 GMT) Shares in European country moving-picture show director Luc Besson's EuropaCorp are on firing this morning, up as much as 40 percent after French business organization every day Les Echos reported Netflix is in negotiation - non sack at this leg on the dot all but what - with the caller which made a murder with "Lucy", stark Scarlett Johansson, in 2014.

After a box berth letdown for its braggart budget sci-fi flick "Valerian and the City of a Thousand Planets" this summer, EuropaCorp has been on the look-extinct for newly partners to bestow in unfermented hard cash or assistance it reconstitute its debt. EuropaCorp is meriting currently a scrap less than 100 jillion euros on the Capital of France breed market, that's a market ceiling close to 1000 times smaller than Netflix, which plans to expend up to $8 trillion this year on TV shows and movies to fend bump off rivals so much as Amazon Undercoat.

Here's Luc Besson and the logo of his society in the backdrop. (Julien Ponthus) ***** Opening night SNAPSHOT: Pass MOVERS (0817 GMT) Getting even of the melt-up? European stocks are striding into Feb with unattackable gains light-emitting diode by banking and technical school stocks. Among noteworthy movers later results, Bic is down in the mouth 6.7 percentage spell NEX Aggroup is peak of the STOXX, up 7.4 per centum later on revenues rosaceous.

The fiscal engineering fast benefited from markets it aforementioned were 'noticeably' Thomas More dynamic this class. Interim Shell took a 5 percentage dive at the overt and is nowadays low 1.8 percent, the worst-performing on the FTSE 100. It seems the cashflow mightiness be what the market's fetching write out with.
"Unfortunately, resilient earnings do not appear to have translated into cash generation this quarter," indite RBC analysts. Dealmaking is static a lineament overly with Denmark's TDC tumbling 10.7 pct subsequently saying it would corrupt Swedish Modern font Multiplication Group's broadcast medium and amusement business organisation.

(Helen Reid) ***** WHAT YOU Motivation TO Bed Earlier EUROPE OPENS (0748 GMT) European shares are expected to opened higher on the kickoff twenty-four hours of February with futures up about 0.4-0.5 pct next a sapless terminate of January, which was pronounced by jitters o'er insurrection bond paper yields and a stronger euro.
Earnings wish be a Florida key focusing with heavyweights such as oil colour major Purple Dutch Beat and drugmaker Roche having already reported results. Profits at Cuticle More than doubled, somewhat whacking psychoanalyst expectations, although traders indicated the descent 1-2 percentage get down citing light John Cash menstruation.

Net income at Roche strike down as sales outgrowth was broadly speaking in rail line with expectations. Consumer goods Almighty Unilever delivered amend than likely fourth-billet gross sales growth, a conceivable ministration for a sphere which has been arrive at this year by a revolution back up into cyclic stocks.
Its shares were indicated 1 pct higher. Boilersuit fourth-fourth wage for the STOXX 600 are likely to growth by 11.9 pct class on year, the up-to-the-minute Thomson Reuters data showed. In M&A news, traders mentioned as maybe market-moving a Bloomberg paper locution BHP is mulling a snag of its US shale building block to quicken up the sales agreement of the stage business it values at $10 zillion. (Danilo Masoni) ***** European STOCKS HEADLINE ROUND-UP (0733 GMT) With so many results future day in today, we've rounded up more or less of the all but authoritative we're watching: Shell's 2017 profit to a greater extent than doubly Unilever fourth-quarter gross sales amend than potential Daimler warns outlay on freshly engineering to moisten wage increment Vodafone's increment edges get down in Europe, just hush up on chase after for twelvemonth Nokia overstep every quarter expectations, buoyed by patent defrayal Roche expects 2018 lucre to arise quicker than sales[ BT's Openreach ramps up fibre broadband rollout Microsoft's cloud computing business grows, stock edges up Facebook forecasts rising ad sales despite dip in usage Novo Nordisk posts Q4 results slightly below expectations, chairman to step down BBVA Q4 net profit falls 90 pct after Telefonica stake writedown Denmark's TDC to buy MTG's Nordic Entertainment and Studios Denmark's Orsted beats Q4 forecasts on strong wind operations DNB Q4 beats forecast despite rise in digital investment Dassault Systemes posts double-digit growth in new licences revenue Lundin Petroleum launches dividend payments Skanska construction order intake just lags expectations UK's Rank interim profit jumps on strong online business Vivendi CEO optimistic about talks with Mediaset over pay-TV dispute Oreo maker Mondelez's profit beats on higher demand for key brands Melrose to publish formal bid document for GKN on Thursday - source Britain's Cranswick says Q3 revenue ahead on strong Christmas NEX Group says markets "noticeably" more active since start of 2018 British private equity group 3i posts increase in net asset value per share Ocado promotes Luke Jensen to executive director role (Tom Pfeiffer) ***** FUTURES POINT TO BOUNCEBACK FOR EUROPEAN STOCKS (0717 GMT) Futures have opened markedly higher this morning, pointing to a convincing bounceback for the European stock market after a weak end to January. As we pointed out earlier, it's all about earnings today, and UK companies' results have just hit the wire with heavyweights Unilever and Shell reporting as well as Vodafone. (Helen Reid) ***** EARNINGS, EARNINGS, EARNINGS (0642 GMT) It's going to be another busy day for corporate eanings with some big heavyweights like drugmaker Roche, bank BBVA and Nokia having already released their numbers earlier on. Overall fourth-quarter earnings for the STOXX 600 are expected to increase by 11.9 percent year on year, the latest Thomson Reuters data showed. Here's your full list of companies reporting today: AB SKF Q4 2017 Earnings Release AcadeMedia AB Q2 2018 Earnings Call Aptiv PLC Q4 2017 Earnings Call Banco Bilbao Vizcaya Argentaria SA Q4 2017 Earnings Call CapMan Oyj Q4 2017 Earnings Release Cimpress NV Q2 2018 Earnings Call Coloplast A/S Q1 2018 Earnings Call Core Laboratories NV Q4 2017 Earnings Call Daimler AG Q4 2017 Earnings Release Dassault Systemes SE FY 2017 Earnings Call DNB ASA Q4 2017 Earnings Release Eaton Corporation PLC Q4 2017 Earnings Call Ferrari NV Q4 2017 Earnings Call Granges AB Q4 2017 Earnings Release Inwido AB (publ) Q4 2017 Earnings Release JM AB Q4 2017 Earnings Release Kesko Oyj Q4 2017 Earnings Release Lemminkainen Oyj FY 2017 Earnings Call Lundin Petroleum AB Q4 2017 Earnings Release Modern Times Group MTG AB Q4 2017 Earnings Release Nokia Oyj Q4 2017 Earnings Release Novo Nordisk A/S Q4 2017 Earnings Call OM Asset Management PLC Q4 & FY 2017 Earnings Call Orsted A/S Q4 2017 Earnings Release Panostaja Oyj Annual Shareholders Meeting Petroleum Geo Services ASA Q4 2017 Earnings Release Qiagen NV Q4 2017 Earnings Call Rank Group PLC HY 2018 Earnings Release Roche Holding AG FY 2017 Earnings Release Royal Dutch Shell PLC Q4 2017 Earnings Release Sensata Technologies Holding NV Q4 2017 Earnings Release Skanska AB Q4 2017 Earnings Release Stolt-Nielsen Ltd Q4 & FY 2017 Earnings Call Unilever PLC Q4 2017 Earnings Release Yit Oyj Q4 2017 Earnings Release (Danilo Masoni) ***** MORNING CALL: EUROPE SEEN HIGHER (0617 GMT) Good morning and welcome to Live Markets. European stocks are set for a positive open on the first day of February, recovering the slight losses seen in the previous session when the broader STOXX 600 index fell for a third straight session to its lowest level in almost four weeks. The STOXX ended January up 1.6 percent. Overnight Asian shares eked out modest gains, clawing back sharp losses from earlier this week, however, rising U.S. bond yields and interest rates could dampen investors' optimism toward the global economic outlook. Here are your opening calls, courtesy of CMC Markets. FTSE100 is expected to open 23 points higher at 7,556 DAX is expected to open 41 points higher at 13,230 CAC40 is expected to open 14 points higher at 5,495 (Danilo Masoni) ***** (Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus)