European Factors to Watch-Shares seen steady, focus on earnings

martes 3 de mayo de 2016 02:42 GYT
 

(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 May 3 (Reuters) - European shares were expected to open steady on Tuesday, with some encouraging earnings reports from companies such as Fresenius and Infineon seen as underpinning the market.

Fresenius Se, the healthcare group, saw adjusted net income rise 24 percent in the first quarter, while Infineon's fiscal second-quarter operating profit rose 15 percent.

According to StarMine data, 44 percent of European companies have announced results so far, of which 61 percent have met or beaten analysts forecasts. However, the first quarter earnings are expected to fall 18 percent from the corresponding period of 2015.

Banking stocks will also be in focus after HSBC, Commerzbank, BNP Paribas and UBS announced their results.

At 0614 GMT, futures for the Euro STOXX 50, Germany's DAX, France's CAC and Britain's FTSE were flat to 0.3 percent higher.

The euro zone's blue-chip Euro STOXX 50 index ended 0.1 percent higher in the previous session. Germany's DAX rose 0.8 percent after data showed factory activity in Europe's biggest economy rose to a three-month high in April, buoyed by rising demand at home and abroad.

Trading volumes were thin on Monday as the UK market and some other bourses in Europe were closed for a public holiday.

U.S. stocks rose on Monday, rebounding from losses last week. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 percent on Tuesday.   Continuación...