The FTSE 100 is called to open 60 points higher at 7165. Stocks were mixed in Asia and futures pointed to a firm start for equity markets in London and New York as investors assessed whether the recent rallies can endure. The pound slid as U.K. Prime Minister Theresa May fought to keep her Brexit divorce plan alive. Shares drifted for most of the Asian day, with equities in Japan and Hong Kong little changed, while they gained in China.The region’s stocks shrugged off leads from a weak U.S. session on Friday when large-cap tech stocks dragged the Nasdaq 100 Index to a loss of more than 1.5 percent. Oil prices snapped a 10-day sell-off after the bear market for crude spurred OPEC and its allies to start laying the groundwork to cut supply in 2019. Yields on 10-year Treasuries, which don’t trade Monday thanks to a U.S. holiday, ended just below 3.2 percent on Friday.
Financial Times: Theresa May is racing to revive her Brexit plan ahead of a crucial cabinet meeting on Tuesday as Brussels pushes for environment targets and state aid oversight as part of exit deal.
UPGRADES AND DOWNGRADES
Burberry upgraded to neutral at Intermonte; PT 18 Pounds
Danske Bank upgraded to buy at Kepler Cheuvreux; PT 180 Kroner
Fraport upgraded to neutral at MainFirst; PT 72 Euros
Hikma downgraded to hold at Peel Hunt
Richemont downgraded to outperform at Raymond James
Rosneft GDRs downgraded to hold at SOVA Capital; PT $7.07
UniCredit downgraded to neutral at Intermonte; PT 15 Euros
JD Sports rated new buy at Berenberg
Sports Direct rated new sell at Berenberg
SAP, Europe’s biggest technology company, has agreed to buy Qualtrics International for $8 billion in cash, preempting the U.S. enterprise software company’s plans to go public.
AstraZeneca: Diabetes drug Farxiga curbs heart failure, kidney risks.
Playtech: Trading inline, remains on track to achieve adj. Ebitda in the range of €320-360m
Euronext Third Quarter Ebitda Beats Highest Estimate
Infineon Fourth Quarter Adjusted EPS Beats Estimates
Dignity 3Q Adj. Op. Profit Falls 39% as Market Share Stable
Gama Aviation Says Non-Executive Chairman Robins Plans to Retire
Kingspan Says Aware of Global Nervousness; Orders Strong
Diageo Sells Brand Portfolio to Sazerac; Consideration of $550m
Babcock Says Strongly Refutes Boatman Capital Report
Johnston Press Hires Insolvency Expert on Sale: S. Telegraph
Rio Says Manned Truck in Speeding Incident at Australian Mine
China Policy Shift to Take Time to Boost Aluminum, Rio CEO Says
Vivendi Will Vote Against Any Drive to Oust Telecom Italia CEO
BT Global Services to Cut Customer Base to 800 Companies: FT
Sanofi Says Praluent Associated W/ Fewer Deaths From Any Cause
Total to Develop Satellite Oil Fields in Angolan Block
BAE Faces Typhoon Order Hit on German Saudi Arms Ban, Times Says
Daily Mail Owner Mulls Bid for Johnston Press’s ‘i,’ Sky Says
FirstGroup Nets Gain Despite Performance Slippage, Times Says