Earnings Super Thursday (August 1) ... And some of Europe's biggest heavyweights enter the ring.
Siemens the first to deliver a blow - the German giant sees a weaker environment in key markets.
Reporting a six per cent drop in quarterly profit, its shares began the day four per cent down.
It set the tone: the world's largest steelmaker was two per cent down at the start.
ArcelorMittal cutting its forecast for global demand.
It sees a sharper reduction in Europe because of a suffering car market.
And, sure enough, BMW earnings were down 20% in Q2, it said - despite higher vehicle sales.
Going electric and getting greener to comply with new emissions rules hitting margins.
In a bumper diary, banks, British American Tobacco and Rio Tinto were also among those to report.
For Rio, the best H1 profits in half a decade - on red-hot iron ore prices.
Barclays boosted its dividend - but the global trade tensions theme continued with StanChart.
It beat estimates - but sees the China/U.S. spat - and a new cycle of monetary easing - as risks.
Shell, meanwhile - the world's second-largest publicly-traded energy company - disclosed Q2 profits as 25 per cent down, to a 30-month low.
Weaker gas prices and refining margins to blame.
Its shares lost 4.2 per cent in early trade.
But: there was also one big deal of the day.
LSE confirming its agreement to acquire Refinitiv in a 27 billion dollar buyout ..
In a move to create a new market data and analytics champion.