European shares open little changed Asian stocks swing up after...

• European shares open little changed
• Asian stocks swing up after China data
• China's Q1 growth unexpectedly steadies
• Healthcare stocks biggest weight, miners fall

April 17 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market move [email protected]

MINERS HIT, ROCHE OUTSHINES SECTOR, APPETITE FOR CHIPS (0755 GMT) Despite the strong Chinese data, which left some investors wondering whether it's too early to call for a recovery in the world's No. 2 economy, European shares are off to a sluggish start this morning in a market that's consolidating somewhat after its strong rally this year that has lifted the STOXX 600 to eight-month highs.

Top weight to the pan European index .STOXX are healthcare stocks, even though Roche ROG.S was able to buck its sector's weakness and rise as much as 1.9 percent at the open after the Swiss drugmaker raised its 2019 outlook.

Consumer staples aren't going well either with the pricey sector hit by a drop in food giant Nestle NESN.S , which continued to slide from a record high hit earlier this month, and a uninspiring update from France's Danone DANO.PA . Nestle reports Q1 results tomorrow.

Basic materials stocks were also a drag. News that Vale will reopen its Brucutu iron ore mine shuttered since February after a deadly incident sent miners lower amid expectations it will boost supplies of the steelmaking ingredient. Chinese iron ore prices fell almost 5 percent on the plan, which more than offset news that BHP BHPB.L joined Rio Tinto RIO.L in cutting its FY iron ore output forecast after a tropical cyclone.

Chipmakers were on the up, however following a better-than-expected update from ASML ASML.AS and after a rally in Qualcomm shares that lifted the Philly chip index .SOX overnight after Qualcomm reached a surprise settlement with Apple that called for the iPhone to once again use its modem chip.

Autos were also strong with German carmakers likely supported by the strong data from key China market.

Here's your opening snapshot:

(Danilo Masoni)

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	WHAT YOU NEED TO KNOW AT THE OPEN (0658 GMT)  

European shares are expected to steady at eight-month highs following stronger-than-expected GDP data from China with the focus moving to the start of the reporting season. Futures on main country benchmarks were trading between a rise and a fall of 0.1 percent.

In corporate news the focus is turning to the start of the reporting season with Roche and L'Oreal both posting solid updates. The Swiss drugmaker raised its 2019 outlook after Q1 sales rose 8 percent, beating analyst estimates, while L'Oreal also posted higher-than-expected Q1 sales, powered by growth in the division that makes luxury cosmetics and strong demand in Asia.

Semiconductor equipment maker ASML Holding posted better-than-expected Q1 earnings and said expected growth to accelerate through the year. Shares in Roche, L'Oreal and ASML were up 2-3 percent in premarket trade. Meanwhile Danone kept its forecasts for a further rise in sales and profits this year after posting an in-line Q1. A profit warning from Pendragon is set to send shares in the automotive online retailer down 10-25 percent.

In dealmaking Credit Agricole and Spanish bank Santander said they plan to combine their custody and asset servicing operations in a deal that would create a new global leader. Shares in the French bank were up 0.5 percent in premarket.

Elsewhere, traders say shares in chipmakers could get a lift after Qualcomm shares soared overnight after it reached a surprise settlement with Apple that called for the iPhone to once again use its modem chips.

Other stock mover Ericsson profit beats forecasts for fifth straight quarter as savings, 5G sales kick in; Hunting's core profit rises, but margins hit at U.S. shale unit; TomTom posts Q1 results above estimates, wins two HD map deals; Handelsbanken Q1 profit tops forecast on provision reversal; Bunzl revenue growth slows as North America business lags

(Danilo Masoni)

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	FUTURES FLAT AS Q1 SEASON GETS UNDERWAY, EYES ON CREDIT AGRICOLE/SANTANDER (0615 GMT)  

Stock futures have opened little changed, confirming earlier indications from spreadbetters for European shares to steady at eigh month highs at the open following better than expected Chinese GDP data.

On the corporate front, Roche ROG.S and L'Oreal OREP.PA will be in focus as the Q1 reporting season gets underway with both both companies posting solid updates. The Swiss drugmaker raised its 2019 outlook after first-quarter sales rose 8 percent, beating analyst estimates, while L'Oreal posted higher-than-expected first-quarter sales, powered by growth in the division that makes luxury cosmetics and strong demand in Asian countries.

Results from semiconductor equipment maker ASML Holding ASML.AS also looked strong with the company reporting better-than-expected first quarter earnings and saying it expected growth to accelerate through the year. Meanwhile Danone DANO.PA kept its forecasts for a further rise in sales and profits this year.

In dealmaking, Credit Agricole CAGR.PA and Spanish bank Santander SAN.MC plan to combine their custody and asset servicing operations in a deal that would create a new global leader

Here's your futures snapshot and below an early morning headlines roundup.

Credit Agricole and Santander to combine custody and asset servicing arms Roche lifts 2019 outlook as Q1 sales beat forecasts L'Oreal sales steam ahead at steady pace in Q1 L'Oreal bets on Garnier turnaround ASML: maintains bullish FY 2019 outlook after Q1 beat Food group Danone keeps goals despite weaker Q1 sales Net outflows continue at Swiss asset manager GAM ING approached Commerzbank about possible tie-up - Manager Magazin BHP cuts iron ore production outlook after Australian cyclone ABB names Voser as interim CEO after Spiesshofer quits France's AXA provided insurance cover for two Notre-Dame contractors Banco Bpm accepts offer from Illimity for sale of bad loans worth 650 mln euros Italy's Moncler CEO says Q1 results were good, in line with expectations (Danilo Masoni)

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	EUROPEAN STOCKS SEEN STEADYING AT AUGUST HIGHS (0524 GM)	

European shares are expected to steady near eight-month highs today following another set of strong data from China that eased worries over the health of the world's second largest economy.

China's economy grew at a steady 6.4 percent pace in the first quarter from a year earlier, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement.

Financial spreadbetters at IG expect London's FTSE to open 7 points lower at 7,463, Frankfurt's DAX to open 4 points higher at 12,105, and Paris' CAC to open 4 points higher at 5,533. On Tuesday, the pan-regional STOXX 600 .STOXX benchmark index hit its highest level since August 10.

Over in Asia, shares swung higher as the stronger-than-expected Chinese data signalled that Beijing's policy stimulus may finally be gaining traction.

"If traders were hoping for more evidence that an economic recovery was underway in China, well at first glance the data is even better than the most ardent China bulls had expected while providing a not too subtle reminder never to discount the positive effect of China credit," says Stephen Innes, Head of Trading at SPI Asset Management.

(Danilo Masoni)

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