European Factors to Watch-Shares seen up on earnings, China stimulus hopes
(Adds futures, company news) By Atul Prakash LONDON, April 23 (Reuters) - European shares headed for a higher open on Thursday, with encouraging earnings reports from some companies and expectations that the Chinese authorities would take further steps to boost the economy seen improving sentiment. Germany's largest lender Deutsche Bank made a profit in the first quarter despite absorbing litigation costs of about 1.5 billion euros ($1.61 billion), while French oil services provider Technip reported a 34.9 percent rise in first-quarter adjusted core profits. The market's focus will be on commodity stocks after factory activity in China, the world's largest metals consumer, contracted at its fastest pace in a year in April, raising expectations for more policy stimulus. The China flash HSBC/Markit Purchasing Managers' Index (PMI) fell to 49.2 in April, against expectations of 49.6. In Japan, the Markit/JMMA flash PMI fell to 49.7 in April from a final reading of 50.3 in March. At 0616 GMT, futures for the Euro STOXX 50, Germany's DAX and France's CAC were 0.1 to 0.3 percent higher. Investors will keep a close eye on Greece. The European Central Bank raised its ceiling on emergency lending by the Greek central bank to Greek banks by 1.5 billion euros to 75.4 billion euros, giving them a bigger buffer to cope with deposit withdrawals, a banking source said. The pan-European FTSEurofirst 300 index closed flat at 1,628.35 points in the previous session, while Germany's DAX closed down 0.6 percent. COMPANY NEWS DEUTSCHE BANK Germany's largest lender made a profit in the first quarter despite absorbing litigation costs of about 1.5 billion euros ($1.61 billion), it said on Wednesday. Separately, a person familiar with the matter said Deutsche Bank was likely to pay more than $2 billion to U.S. and U.K. authorities over the manipulation of a key interest rate benchmark, more than any other bank has been penalized over the rate rigging. TECHNIP The French oil services provider reported a 34.9 percent rise in first-quarter adjusted core profits on Thursday and tweaked its forecasts for 2015 as its subsea division was seen outperforming and its onshore/offshore unit lagging. NOKIA Nokia's maps business has drawn interest from potential buyers including Facebook and a consortium of German carmakers made up of BMW, Audi and Daimler, a German magazine reported on Wednesday. CAIXABANK Spanish lender Caixabank said net profit doubled to 375 million euros ($402 million) in the first quarter, beating forecasts, as it was boosted by the acquisition of Barclays' local unit and an improving domestic economy. NOVARTIS Swiss drugmaker Novartis posted declining sales in the first quarter and cautioned that dollar strength may be a bigger-than-expected drag on full-year figures. ERICSSON Mobile telecom equipment maker Ericsson posted first-quarter operating profit below market expectations and said it expected the fast rollout of 4G networks in China to continue while business in North America would remain slow in the short term. WARTSILA The Finnish ship engine and power plant maker posted quarterly results clearly below market expectations as low crude prices curbed offshore firms' demand for vessels. MOBISTAR The Belgian mobile phone operator on Thursday reported an unexpected rise in first-quarter core profit and repeated its outlook for 2015. LOGITECH The Swiss-American gadget maker said quarterly profit fell 33 percent as the demand for new music and video game add-ons was not enough to offset falling demand for its computer accessories. FLASH CRASH A British man accused of market manipulation that contributed to the May 2010 Wall Street "flash crash" said he opposed being extradited to the United States, while the operator of the market where he traded sought to rebut prosecutors' suggestion that futures helped cause the crash. CREDIT SUISSE Credit Suisse UK had a security agreement with Nav Sarao Futures, the company of the man arrested in London over his alleged role in the May 2010 "flash crash", a spokesman for the Swiss bank said. MICHELIN First-quarter revenue rose 5.6 percent, the French tyre maker said on Wednesday, as a strong currency tailwind more than made up for declining prices. ZODIAC Boeing said problems with seat production from French supplier Zodiac Aerospace are not resolved, but said they would not alter the plane maker's ability to meet its targets for aircraft deliveries this year. VODAFONE The Indian government and Vodafone have moved a step closer to starting resolution of a tax dispute by agreeing on Abdulqawi Ahmed Yusuf, vice-president of the International Court of Justice, as the third arbitrator, India's Economic Times newspaper reported on Thursday. (bit.ly/1Ffvjwu) PACE Network gear maker Arris Group Inc said late on Wednesday it would buy British set-top box maker Pace in a $2.1 billion cash-and-stock deal to expand its operations outside North America. DAIMLER A local pricing regulator in China said on Thursday it has fined Daimler's Mercedes-Benz 350 million yuan ($56.49 million) for price fixing. VOLKSWAGEN The carmaker will get 400 million euros in trade financing from Canada to help expand its southern U.S. and Mexican operations and thereby generate business for Canadian firms, Ottawa said on Thursday. SIEMENS The engineering conglomerate foresees continuous demand for rail systems in Thailand despite investment delays, the Bangkok Post reported, citing Tomasz Mazur, head of the mobility division at Siemens (Thailand). BILFINGER The German building services firm issued its fifth profit warning since last June on Wednesday, saying its U.S. oil and gas business was faring worse than expected and demand in its power plant business remained weak. L'OREAL The cosmetics company will not implement double voting rights for long-term shareholders, as called for under a French law that has a stated aim of promoting stability at listed companies. VEOLIA Shareholders at the water and waste specialist who wanted to keep a one share one vote governance structure lost a vote on Wednesday, opening the way for double-voting rights for long-term investors including the French government. EURONEXT The European exchange operator said Chief Executive Dominique Cerutti would leave the company on July 15 to join consulting firm Altran Technologies SA as chairman and CEO. TOTAL The French oil and gas major is in talks to sell its 40 percent stake in Russia's Kharyaga oil project to Russian state firm Zarubezhneft, Vedomosti business daily reported. HENEIKEN, CFAO Heineken NV, the world's third largest brewer, and Africa-focused trading firm CFAO will invest 100 billion CFA francs ($163.52 million) to build a brewery in Ivory Coast, a Heineken company official said on Wednesday. DASSAULT SYSTEMES Dassault Systemes announced the acquisition of Modelon GmbH and reported first quarte results. PERNOD RICARD French spirits maker Pernod Ricard posted better-than-expected third-quarter sales, reflecting improving cognac sales in China, its second-largest market, and also stronger sales in the Americas. ANGLO AMERICAN The global mining company trimmed its full-year forecast for diamond production on Thursday due to weaker market conditions. NOVOZYMES The industrial enzymes maker reported a larger-than-expected rise in its first-quarter operating profit and raised its outlook on the back of a stronger U.S. dollar. U.S. COMPANIES REPORTING : Q1 2015 Amazon.com Inc <AMZN.O Q1 2015 Caterpillar Inc <CAT Q2 2015 Rockwell Collins Inc <COL Q1 2015 Dow Chemical Co Q1 2015 Freeport-McMoRan Inc Q1 2015 General Motors Co Q1 2015 Google Inc Q1 2015 Eli Lilly and Co Q1 2015 3M Company Q3 2015 Microsoft Corp Q1 2015 NASDAQ OMX Group Inc Q1 2015 Newmont Mining Corp Q1 2015 PepsiCo Inc Q2 2015 Starbucks Corp MACROECONOMIC DATA/EVENTS (GMT) : DE Consumer Sentiment FR Business Climate DE Markit Flash PMI GB Retail Sales US Initial Jobless Claims US Markit Mfg PMI US New Home Sales ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0515 GMT: LAST PCT CHG NET CHG S&P 500 2,107.96 0.51 % 10.67 NIKKEI 20171.13 0.18 % 37.23 MSCI ASIA EX-JP 517.99 0.6 % 3.08 EUR/USD 1.071 -0.14 % -0.0015 USD/JPY 119.74 -0.13 % -0.1600 10-YR US TSY YLD 1.968 -- 0.00 10-YR BUND YLD 0.163 -- 0.00 SPOT GOLD $1,189.10 0.19 % $2.20 US CRUDE $56.35 0.34 % 0.19 > Asia weathers soft China survey on stimulus hopes > Stocks end stronger as investors look beyond mixed earnings > Nikkei touches new 15-year high as securities, large-cap shares shine > U.S. yields climb with German bond selloff > Dollar regains footing, Kiwi falls on RBNZ comments > Strong U.S. housing data keeps gold below $1,200 > London copper sinks to one-month low as China factories slow > Oil prices hold steady as Yemen bombing continues (Reporting by Atul Prakash)
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