>>> European Mkt Midday Update

**Equities**
Indices [Stoxx50 +0.7% at 2,955, FTSE -0.3% at 6,122, DAX closed, CAC-40 -0.9% at 4,281, IBEX-35 -1.3% at 8,607, FTSE MIB -0.8% at 17,581, SMI closed, S&P 500 Futures +0.1%]

Market focal points/key themes: European stock open down slightly and trade depressed with low volumes; markets closed in Germany, Scandinavia, Switzerland and Austria for holiday; materials stocks supported following analyst action, commodity prices; Konecranes best performer following acquisition of unit from Terex, and desisting on merger

**Sectors
- Consumer discretionary [Hennes & Mauritz HMB SS -0.6% (April sales)]
- Energy [Hunting HTG LN +3.5% (analyst action)]
- Financials [British Land BLND LN +1.5% (trading update), Crest Nicholson CRST LN +5.0% (trading update)]
- Industrials [Konecranes KCR1V FH +19.1% (Acquires Terex unit), Anglo American AAL LN +5.7% (analyst action)]
- Materials [Lonmin LMI LN +14.4% (results)]
- Telecom [Telecom Italia TIT IM+3.2% TITR IM +3.2% (results)]