3 de mayo de 2016 / 5:26 / hace un año

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

(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.

On the macroeconomic front, activity at China's factories shrank for the 14th straight month in April as demand stagnated, forcing companies to shed jobs at a faster pace, adding to questions over whether the world's second-largest economy is recovering.

COMPANY NEWS

HSBC

The bank posted a 14 percent drop in its first-quarter profit, as the lender's investment banking unit saw trading income tumble in the grim global market environment early in the year, but the profit fall was smaller than expected.

FRESENIUS SE

The healthcare group saw adjusted net income rise 24 percent in the first quarter, bolstered by the launch of new generic infusion drugs and rivals' supply shortages.

UBS

Swiss bank UBS on Tuesday said first-quarter net profit fell 60 percent to 707 million Swiss francs ($741.32 million), in line with analysts' estimates. First-quarter net profit had been seen down 64 percent at 704 million Swiss francs in a Reuters poll.

BNP PARIBAS

The French bank said net income rose 10.1 percent in the first quarter as lower provisions for bad loans on the back of a gradual economic recovery in Europe helped offset a slump in its corporate and institutional bank, hit by market volatility.

COMMERZBANK

Commerzbank posted a 52 percent drop in first-quarter net profit on Tuesday, hit by volatile capital markets and the drag on earnings from low interest rates.

ABERDEEN

British fund firm Aberdeen Asset Management posted a 40 percent fall in first-half underlying pre-tax profit, hit by a broad slump in emerging markets.

LUFTHANSA

Lufthansa said it was slowing its growth plans this year due to fierce price pressure in the airline industry after reporting improved first-quarter results thanks to low fuel and cost reductions.

PROSIEBENSAT1

The broadcaster said on Tuesday its first-quarter core profit rose 12 percent, helped by higher television advertising income and a jump in its digital business, which includes ecommerce and video on demand.

BMW

BMW's first-quarter operating profit missed expectations as currency headwinds and a lull in its product cycle offset record quarterly sales of luxury cars.

BASF

The group sold its former Sterols production plant in Pasadena, Texas to Trecora Resources.

AREVA

Workers at the French nuclear group's COMINAK uranium mine in Niger launched a 72-hour strike, claiming they had not received the full payment of bonuses for reaching financial targets last year, two unions said.

The state-owned company also said that some reports on manufacturing and quality control at its Creusot Forge unit, which supplies the nuclear market with large forgings and castings, may have been falsified.

SWISSCOM

The telecoms group reported earnings before interest, tax, depreciation and amortisation of 1.08 billion Swiss francs, just above the average forecast by analysts polled by Reuters of 1.05 billion Swiss francs. Sales were steady at 2.89 billion francs.

BP

The U.S. Supreme Court on Monday declined a request from shareholders seeking to revive their class action lawsuit against BP claiming the British oil company misrepresented its safety procedures prior to the 2010 Gulf of Mexico oil spill.

INFINEON

The chipmaker's fiscal second-quarter operating profit rose 15 percent, as its automotive and industrial units held up in a market which was experiencing seasonal price pressure.

LUFTHANSA

Lufthansa said it was slowing its growth plans this year due to fierce price pressure in the airline industry after reporting improved first-quarter results thanks to low fuel and cost reductions.

PHILIPS

Medical equipment and technology firm Philips said on Tuesday it will spin off its lighting division, the world's largest maker of lights, in an initial public offering of shares.

ABENGOA

State Grid Corp's plans to buy Abengoa SA's power transmission lines in Brazil is likely to take longer than expected as the different nature of some assets is complicating talks, a senior executive at the Chinese utility said.

FCC

Spanish construction group FCC, partly owned by Mexican billionaire Carlos Slim, won a contract worth 375 million euros to build and operate a waste plant in Colombia, a spokesman said on Monday.

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). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.

If you have any thoughts, suggestions or feedback on this, please email mike.dolan@thomsonreuters.com.

Mike Dolan, Markets Editor EMEA. (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)

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