European stocks look set to build momentum after lackluster start to the week
This is CNBC’s live blog covering European markets.Good morning from London! Welcome to CNBC’s live blog covering European markets. Regional bourses are heading for a positive open Tuesday, looking to build some positive momentum after a muted trading session for equity markets on Monday.There are a few events to watch out for Tuesday, with British companies Vodafone and bakery chain Greggs, insurance giant Swiss Life, and Swedish industrial conglomerate Lagercrantz all set to report first-quarter results. Germany’s producer price index data is also due.What to keep an eye out for todayBritish telecom giant Vodafone Group is expected to report its 2025 financial year results.Analysts polled by FactSet expect full-year total sales to be £31.74 billion ($42.39 billion), with a pre-tax profit of £1.84 billion. Earnings per share is expected at 7.10 pence.UBS analysts expect the merger with U.K. competitor Three will add £470 million to adjusted profits, but will detract from free cash flow as the company will be forced to invest upfront.“While easing declines in German service revenues should be a tailwind for the shares, the prospect of further [free cash flow] downgrades will likely weigh on the stock near-term,” UBS analyst Polo Tang added in an earnings preview note to clients on May 12.The stock currently trades at nearly 5.3% expected dividend yield. Analysts forecast a dividend of 3.78 pence per share, according to FactSet.U.K. baker Greggs and Swiss Life are also set to report earnings on Tuesday.— Ganesh RaoHere are the opening callsHere are Tuesday’s opening calls.European bourses are expected to open higher Tuesday, with London’s FTSE expected to open up 43 points at 8,726, Germany’s DAX up 92 points at 23,998, the French CAC 40 up 41 points at 7,908 and Italy’s FTSE MIB up 92 points at 40,330, according to data from IG.— Holly Ellyatt
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