European stocks look set to build momentum after lackluster start to the week
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.
British 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 Rao
Here 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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Veeton offers a menu of virtual models to select from, adjustable for body types, pose, race, style and age. Users can upload flat pack shots, and the AI will create a look from its dataset of over 50 million fashion images. Subtleties such as facial expressions or posture can be adjusted with prompts to match creative direction without the need for engineers or editors, she said. Veeton has already worked with Showroomprivé and will roll out to more fashion brands and retailers soon. EssilorLuxottica CEO Paul du Saillant and Publicis Groupe Chair Emeritus Maurice Levy took the stage to tout the eyewear maker's partnership between its Ray-Ban brand and Meta to create connected glasses. Du Saillant said Google's attempt at connected glasses didn't work a decade ago because they 'did not address the style element.' Levy said he doesn't go into a meeting these days without wearing a pair of the glasses — which can record video and audio, amplify sound, and alert wearers of emails and text messages in real time. The eyewear company is preparing to 'expand aggressively' and will roll out more styles and possibly partnerships with other brands soon. EBay France general manager Sarah Tayeb and Vestiaire Collective chief impact officer Dounia Wone both addressed the apparent contradiction of using AI, which consumes significant amounts of energy and water, to simplify resale or refurbished goods shopping. Both use tech that can help create and translate listings, as well as assist with search to help nudge consumer behavior. 'We need to take a step back,' said Wone. AI can help these businesses 'grow in an industry that is very much a huge polluting industry,' she said, and help create a circular economy. By adding ease, AI support enables more people to enter the resale ecosystem and has helped double sales of suggested items. 'It's an opportunity, because sustainability tech needs to be aligned with growth,' she said. Sustainability data management platform Sweep works with fashion brands including Burberry, Lacoste, and The Kooples, and beauty brands such as Caudalie, to collect and monitor environmental and carbon data throughout their supply chains, as well as build transition plans. Sweep cofounder and CEO Rachel Delacour emphasized that companies should see sustainability as a key driver of transformation, as it helps break down departmental silos and establishes sustainability as a core business pillar. It's a tricky global moment with the new Trump tariffs upending global trade and the EU potentially rolling back some sustainability reporting regulations, but Delacour said that while fashion brands are becoming more cautious, they aren't abandoning sustainability altogether. 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