European Factors to Watch-Shares seen halting slide; BMW in focus

miércoles 6 de mayo de 2015 02:30 GYT
 

(Adds futures, further company news)

LONDON May 6 (Reuters) - Euro zone equity indexes were expected to open steady on Wednesday, halting the previous session's selloff on the back of strong earnings from blue-chips such as BMW.

At 0625 GMT, futures for the Euro STOXX 50, Germany's DAX, France's CAC were up between 0.1 percent and 0.3 percent. Contracts on Britain's FTSE index were down 0.2 percent.

German carmaker BMW said its first-quarter operating profit rose by a forecast-beating 20.6 percent, lifted by strong demand for large offroader luxury cars in Europe and the United States.

French banks Societe Generale and Credit Agricole joined bigger rival BNP Paribas on Wednesday in posting stronger first quarter earnings on firm revenues from investment banking.

Any market gain was likely to be capped by a continued strengthening of the euro, which was edging back in the direction of a two-month high of $1.1290 set last Friday.

The pan-European FTSEurofirst 300 index has fallen in five of the past six sessions, hit by a strengthening of the euro against the dollar amid mixed U.S. economic data.

The index is down 6 percent from a high hit last month but remains up 13.7 percent since the start of the year, in a surge largely fuelled by the European Central Bank's asset-purchase programme and better euro zone economic data.

Investors will be looking for proof that the euro zone recovery remained on track last month when final services sector data for key countries and the bloc as a whole is published between 0745 GMT and 0800 GMT.   Continuación...