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LONDON, Aug 4 (Reuters) - European stocks were seen edging back slightly at the open on Tuesday, with commodity shares under pressure from a recent drop in oil prices and concerns over China, which is the world’s biggest metals consumer.
Financial spreadbetters expected Britain’s FTSE 100 to open down by 25-30 points, or 0.3 percent lower. Germany’s DAX was seen opening down by 30-39 points, or 0.3 percent lower, while France’s CAC 40 was expected to open down by 20 points, or 0.4 percent lower.
European equities had risen on Monday, shrugging off a slump in the Greek stock market which re-opened after a five-week shutdown, as some strong corporate results supported the broader market.
------------------------------------------------------------------------------ > GLOBAL MARKETS-Asian shares shake off losses, oil firms > US STOCKS SNAPSHOT-Energy leads Wall St lower as oil tumbles > Nikkei edges down on China manufacturing data, Apple suppliers underperform > TREASURIES-Longer-dated yields slide on ISM data, inflation outlook > FOREX-Aussie lifted after RBA tones down, commodity currencies pressured > PRECIOUS-Gold closes in on 5-1/2-year low as US rate worries weigh > METALS-London copper struggles near six-year lows on growth concerns > Oil prices edge up after 5 pct fall, but outlook weak
AXA, Europe’s second-largest insurer, posted a 2 percent increase in net income as a fall in the value of financial assets reduced the benefit of a weak euro on its earnings.
Germany’s biggest news publisher Axel Springer on Tuesday reported better-than-expected second-quarter core profit as its continued to expand its digital activities, offsetting a decline in its classic printing business.
German carmaker BMW stuck to its 2015 targets as it reported second-quarter earnings.
British oil major BP has halted its deepwater exploration activities off Uruguay as it prioritizes lower-risk projects at a time of low international prices, an official at Uruguay’s state-owned oil company Ancap said on Monday.
Credit Agricole, France’s third-biggest listed bank, reported a 12.4 percent rise in cost of risk in the second quarter as it put aside more money to cover litigation costs and boosted capital via its cross-shareholding structure.
Danish freight forwarder DSV posted a bigger-than-expected rise in second quarter operating profit before special items on Tuesday, helped by a positive growth trend in all business units, and lifted its full-year outlook.
German diversified chemicals maker Evonik lifted its 2015 profit guidance for the second time, helped by a strong animal feed ingredients business.
Investment group Exor, which controls carmaker Fiat Chrysler , said on Monday it had signed a deal to buy PartnerRe for $6.9 billion, trumping a rival bid from Axis Capital and ending a prolonged battle for the reinsurer.
The Financial Times reported that U.S. activist hedge fund ValueAct had taken a stake in British engineering company Smiths Group.
Reporting by Sudip Kar-Gupta