U.S. MARKETS:

-S&P 500 futures down 0.3% to 2,717.25

-Brent Futures down 0.1% to $72.73/bbl

-Gold spot down 0.09% to $1,231.77

-U.S. Dollar Index unchanged at 96.54


GLOBAL NEWS:

Earnings season. Marriott International, Avis Budget and Ferrari are among companies due to report. Markit Services PMI and ISM Non-Manufacturing Index are expected on the macro side.

Resistance test. The European banking regulator released the results of its latest stress tests on Friday evening: all major banks posted a CET1 (full) ratio above the 5.5% floor in the most severe scenario. The banks most at risk in the event of extreme financial stress are Barclays (6.37%), Banco BPM (6.67%) and Lloyds Banking Group (6.80%).

ST buyer of its own shares. STMicroelectronics will repurchase $750 million of shares over three years, mainly to amortize the impact of its repurchase plans.

Atos in the bond market. The IT services company completed a €1.8 billion bond issue in three tranches. Demand reached 4.6 billion euros. Coupons range from 0.75 to 2.50% from 3.5 to 10 years.

SocGen sells Euro Bank. Societe Generale sold its Polish retail bank to Millenium for €424 million. The operation should improve the CET1 by 8 points and reduce outstandings by €2 billion.

Common cause. Alstom and Hyundai E&C are joining forces to bid on the Baghdad tender, a $2.5 billion rail project that could be signed in the first quarter of 2019.

LVMH loses a founder. Alain Chevalier, one of the founders of LVMH, died at the age of 87 in Megève, in the French Alps, at the beginning of the month. The group welcomed this "great industrialist".

In other news. Onxeo obtained positive results in phase 1 with AsiDNA. Spineway announces the issuance of 100 OCEANE bonds as part of the financing signed with EHGOS. Genkyotex meets the primary and secondary intermediate criteria in phase II with GKT831 in primary biliary cholangitis.

Pax helvetica. Novartis is discontinuing the biosimilar of rituximab (Roche's MabThera) in the United States. The generic has already been approved elsewhere, but the FDA has requested additional information.

Piano piano. Apple has reportedly cancelled production increases for the iPhone XR from Foxconn and Pegatron, according to Nikkei.

DB 1: DWS, Deutsche Bank's asset management company, will take 15% of Neo Technologies, a Dubai-based company, for an unspecified amount.

DB 2: Deutsche Bank, precisely, which would be on the lookout for the next round of consolidation in Europe, according to the "Handelsblatt".

GAM rejected Schroders. The Swiss GAM Holding reportedly rejected an offer from Schroders to acquire the Systematic division, according to the Financial Times.