LIVE MARKETS-Europe before the bell: Lots of news to read, start with ASML

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EUROPE BEFORE THE BELL: LOTS OF NEWS TO READ, START WITH ASML

The out-of-control merry-go-round of market news could be speeding up, if that's even possible, and Wednesday is shaping up to be a busy day.

Starting with the news from the European morning, ASML, ASML.AS Europe's largest company by market value reported stronger-than-expected bookings , sending its shares up 8% on the Tradegate platform and futures on the Amsterdam Index 1.4% higher.

Results were less good from LVMH, a previous holder of that market cap crown. It reported late on Tuesday it had beaten fourth-quarter sales forecasts, but trade tensions, a weaker dollar and high gold prices squeezed margins. Traders are calling the shares down 3-4% at the open.

The net result is that EURO STOXX 50 blue chip futures are up 0.4%, STXEc1 but a lot of that seems to be down to ASML as German DAX futures are flat, FDXc1 and French CAC40 futures down 0.4%. FCEc1

Still to come, is a Federal Reserve meeting, and, after the U.S. bell, earnings from META META.O and Tesla TSLA.O

That's all coming on top of sharp moves in currency markets with the euro and pound both hitting multi-year highs on the dollar, on Tuesday, and extending gains after U.S. President Donald Trump said on Tuesday the value of the U.S. currency was "great", when asked whether he thought it had declined too much. FRX/

More on that in Morning Bid below, which also gets into the implications of the Reserve Bank of Australia now looking set to hike rates next week. Meanwhile, the European Central Bank may need to consider another interest rate cut if further gains in the euro begin to weigh on the bank's inflation outlook, Austrian central bank governor Martin Kocher told the Financial Times.

Central bank policy divergence is back.

In other European earnings news, Swedish steelmaker SSAB SSABa.ST reported a bigger than expected rise in its fourth-quarter operating profit, while Spanish renewable energy company Ignis is preparing for an initial public offering , newspaper Expansion reported on Wednesday.

(Alun John)

For earlier Live Markets posts

MORNING BID: TRUMP'S TALK DOWNS THE DOLLAR CLICK HERE