Big Week Ahead for Autos, Pharma and Paris

Today brings a clutch of major European earnings. Safran, the French aerospace group worth $146bn, reports this morning. So does Air Liquide, one of Europe's biggest industrial groups at $124bn. Swiss building materials giant Holcim and defence group Dassault Aviation are also out today.

No IPOs land this week.

The auto sector dominates the back half of the week. Volvo Car reports today. India registration data, a leading indicator for its revenue, is running 9% above year-ago levels through all three months of the quarter. Finnish car registration data points the other direction, down 9% on the same period last year.

Kia Corporation follows Monday. Austrian car registrations, which lead Kia's revenue by 45 days, are running 9% above last year's pace.

Mercedes-Benz reports Tuesday. Dutch car registrations, a strong-fit leading indicator for Mercedes revenue, are tracking 6% below last year through all three months.

Volkswagen and Renault both report Thursday. Austrian registrations, a leading indicator for both, are down 6% and up 6% respectively versus a year ago.

Taiwan's export orders hit a record $114.2bn in September, the largest September total since records began in 1984. That macro tailwind sits behind any company with Asian supply chain exposure heading into this results season.