Corporate results:

  • Philips: The Dutch company is restructuring after its setbacks. A charge of €300 million will be spread over the coming quarters.
  • Solvay: The chemical company expects a record third quarter and raises its full-year forecast.

In other news:

  • Tesla was down 3.5% in pre-market trading as the U.S. automaker lowered its Model 3 and Y prices for the first time in China this year, raising fears among some analysts that a price war is beginning.
  • Wall Street-listed Chinese companies Alibaba, Baidu, Weibo, Tencent Music, Pinduoduo and Bilibili fell 9% and 15% in premarket trading after President Xi Jinping was reappointed to a third term as head of the Chinese Communist Party by a committee whose ideological vision could trump economic growth.
  • Goldman Sachs announced Monday that it is forming a joint venture in China with local logistics company Sunjade in an effort to boost investment in real estate and infrastructure assets in the country.
  • Mattel - The California-based toymaker agreed to pay $3.5 million to close a dispute with the Securities and Exchange Commission (SEC), the U.S. securities regulator, over financial disclosures in 2017.
  • Credit Suisse is expected to launch a CHF 2bn capital increase to complement its restructuring, according to SonntagsZeitung.
  • Elon Musk may need to sell up to $10 billion of Tesla stock to fund the Twitter deal, according to Wedbush.
  • Apple's head of industrial design is considering resigning, according to Bloomberg.
  • PHE (D'Ieteren) has entered into exclusive negotiations with MACIF to sell its specialty glass repair business Mondial Pare-Brise.
  • ISS is urging Turquoise Hill Resources shareholders to reject Rio Tinto's takeover bid.
  • Vale to spin off its copper and nickel unit.
  • Frasers Group (Mike Ashley) has increased its maximum exposure to Hugo Boss to £840m.
  • Shell secures minority stake in Qatar LNG expansion project.
  • Assicurazioni Generali is considering a bid for US-based Guggenheim before the end of the year.
  • Yamana Gold's mining assets valued between $6 billion and $8 billion in Gold Fields' bid.

Main earnings reports today: SABIC, Cadence Design, Chugai Pharmaceutical, Nidec, Philips, Galp Energia, Pearson... All the agenda is here.