European Factors to Watch-Shares seen up for 4th day, focus on earnings

viernes 31 de julio de 2015 02:37 GYT
 

(Updates futures prices, adds company news)

LONDON, July 31 (Reuters) - European shares were expected to advance for a fourth straight session on Friday, with some forecast-beatings company results seen as underpinning positive market sentiment.

Futures for the Euro STOXX 50, Germany's DAX and France's CAC were all up 0.2 percent by 0634 GMT. Britain's FTSE 100 futures were flat.

German builder Hochtief beat estimates for new orders, sales and adjusted pretax profit in the second quarter, while French bank BNP Paribas saw its revenue rising nearly 16 percent in the second quarter, boosted by brisk share trading, a strong dollar and recently acquired companies.

BBVA Spain's second-biggest bank by market value, said first half net profit more than doubled from a year earlier, beating expectations as revenue grew and the lender integrated its purchase of local peer Catalunya Banc.

According to Thomson Reuters StarMine, nearly half of the STOXX Europe 600 companies have announced results so far, of which 53 percent have met or beaten analysts' forecasts.

On average, 48 percent companies beat analyst EPS (earnings per share) estimates in a quarter. Second quarter earnings are expected to grow by 5.7 percent from the corresponding quarter of the previous year.

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