European Factors to Watch on April 22
LONDON, April 22 (Reuters) - European shares were seen opening slightly higher on Wednesday, following stimulus-fuelled equity gains in Asia and a drop in oil prices after Saudi Arabia ended its military campaign in Yemen.
Financial spreadbetters expected Britain's FTSE 100 to open 5 points higher, or 0.1 percent, Germany's DAX to open around 40 points higher, or 0.3 percent, and France's CAC 40 to open around 15 points, or 0.3 percent.
Top companies reporting results or sales updates included Tesco and Switzerland's Roche and Richemont. Tesco reported its worst-ever loss, Roche reported a 3 percent rise in quarterly sales and Richemont said full-year profit would drop by more than one-third after losses on financial instruments including derivatives.
The dominance of high-speed trading strategies on financial markets was also back in the news, with the U.S. Justice Department's announcement of the arrest of a high-frequency trader in the United Kingdom over charges he manipulated the futures market and played a role in sparking the May 2010 "flash crash".
Britain's biggest retailer posted the worst annual loss in its 96-year history on Wednesday after writing down the value of its stores by 4.7 billion pounds ($7.02 billion). Continuación...