10 things you need to know before European markets open

Nazarbayev PutinREUTERS/Alexei Nikolskyi/RIA Novosti/KremlinKazakh president Nursultan Nazarbayev (left).

Good morning! Here are 10 things you need to know in markets today.

Apple results for the first quarter are coming when US markets close. Analysts are expecting big iPhone sales and think Apple could provide a major update to its cash return program. According to data compiled by Bloomberg, analysts are looking for $US56 billion (£36.9 billion) in revenue, which would represent 23% growth.

Ukraine wants EU peacekeepers. Ukraine will press European leaders for peacekeepers to patrol its war-torn east and will angle for more international financial support at two days of high-level talks starting Monday.

Deutsche Bank got hit hard by legal costs in Q1. Quarterly net profit sank to €559 million
(£399.98 billion) versus a year ago, despite a 24% rise in revenue driven primarily by an increase in client trading activity.

Talks over Greek debt should resume today. Athens will resume talks with its creditors Monday, a Greek government source said, after Prime Minister Alexis Tsipras spoke on the phone with German Chancellor Angela Merkel. Speaking on Sunday, the two leaders “expressed their willingness to establish stable communication throughout the negotiations, in order to quickly reach an agreement that is good for both sides,” the source said.

Kazakhstan’s autocratic president won another “election”. Kazakh President Nursultan Nazarbayev won 97.7% of the vote in Sunday’s election, securing a new five-year term at the helm of the oil-rich nation, the Central Election Commission announced on Monday, citing early data.

Massive mergers will see China consolidate the number of state firms down to just 40. China will likely cut the number of its central government-owned conglomerates to 40 through massive mergers, as Beijing pushes forward a sweeping plan to overhaul the country’s under-performing state sector, state media reported on Monday.

HSBC is reportedly planning to spin off its British retail bank. HSBC , Europe’s biggest bank, is weighing plans to spin off its British retail bank in a £20 billion ($US30.37 billion) deal, the Sunday Times reported. Directors at the bank are considering the future of its UK retail operations, the newspaper reported, citing senior sources.

The British government would oppose a foreign takeover of BP. Britain’s outgoing government has told BP that it wants the company to remain a British industrial champion and it would oppose any takeover of the oil producer, the Financial Times reported. The message follows the $US70 billion (£46.10 billion) deal to acquire rival producer BG by oil major Royal Dutch Shell, which has sparked speculation of a larger wave of consolidation.

The Fed’s latest meeting begins tomorrow. The policy statement that’s produced on Wednesday will give an updated view on how the Fed sees the current economic situation in the US, after a first quarter that saw economic data widely disappoint.

Asian markets are mixed. Chinese stocks surged Monday, with Hong Kong’s Hang Seng up 1.37% and the Shanghai Composite up 2.4%. Japan’s Nikkei dipped a little, down 0.36%.

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