European Factors to Watch-Shares seen flat, Apple may impact tech stocks
(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report)
LONDON, April 27 (Reuters) - European stocks were opening flat on Wednesday, although technology stocks may come under pressure after Apple posted its first-ever decline in iPhone sales.
Financial spreadbetters at IG expected Britain's FTSE 100 to open down by 1 point, unchanged in percentage terms. Germany's DAX was seen up by 11 points, or 0.1 percent higher, while France's CAC was seen up by 2 points.
On Tuesday, Apple posted its first-ever decline in iPhone sales and its first revenue drop in 13 years as the company credited with inventing the smartphone struggles with an increasingly saturated market.
The company's sales dropped by more than a quarter in China, its most important market after the United States, and it also forecast another disappointing quarter for global revenues.
Investors will also be focusing on a U.S. Federal Reserve meeting later in the day.
While the Fed is expected to hold interest rates steady, it could also take a more upbeat view on the economy, keeping the way open for future rate rises. ------------------------------------------------------------------------------ > GLOBAL MARKETS-Asia stocks subdued with central banks in focus, oil holds gains > US STOCKS-S&P500 index buoyed by commodity sectors; Apple drags futures lower > Nikkei slides as Apple-linked stocks wilt, poor earnings stoke worries > TREASURIES-U.S. yields rise on supply ahead of Fed statement > FOREX-Aussie plunges as prices fall; dollar and yen look to Fed, BOJ > PRECIOUS-Gold edges up ahead of Fed on softer dollar, weak U.S. data > METALS-Copper extends losing streak to 3rd day on China concerns > Oil prices jump on weak dollar, strong investor appetite
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Mike Dolan, Markets Editor EMEA. (Reporting by Sudip Kar-Gupta)
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