Europe Factors to Watch-Shares set to rise after U.S. data; BMW eyed
PARIS, May 6 (Reuters) - European stocks were set to rise on Tuesday, reversing the previous session's dip and tracking gains on Wall Street following robust U.S. macro data. Investors were also combing through a flurry of quarterly results from companies including BMW AG and Barclays. The German luxury car maker reiterated its ambitious 2014 goals as first quarter operating profit rose 2.6 percent, in-line with forecasts, while the UK lender said its underlying profits fell 5 percent after its investment bank struggled due to a slump in fixed income revenues. So far, 43 percent of STOXX Europe 600 companies have reported results in the current earnings season, of which 55 have met or beaten analyst forecasts, according to Thomson Reuters StarMine data. "Earnings aren't too bad so far, no major incident, although not exactly inspiring. The market still needs a big positive catalyst to further rally, and this impulse is not coming from the micro side, at least for now," a Paris-based trader said. Swiss lender Credit Suisse will be in focus after a source said the bank is in talks with the U.S. Justice Department to pay as much as $1.6 billion to resolve an investigation into the bank's role in helping Americans evade U.S. taxes. At 0627 GMT, futures for Euro STOXX 50, for UK's FTSE 100, for Germany's DAX and for France's CAC were up 0.2-0.4 percent. Data showed on Monday that the Institute for Supply Management's services sector index hit the fastest pace in eight months in April, to 55.2 from 53.1 in March, topping expectations. It was the highest level since August's reading of 57.9, which had been a seven-year high. Europe bourses in 2014: (link.reuters.com/pad95v) Asset performance in 2014: (link.reuters.com/rav46v) ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0627 GMT: LAST PCT CHG NET CHG S&P 500 1,884.66 0.19 % 3.52 MSCI ASIA EX-JP 475.51 0.21 % 0.99 EUR/USD 1.3878 0.03 % 0.0004 USD/JPY 102.03 -0.1 % -0.1000 10-YR US TSY YLD 2.606 -- -0.01 10-YR BUND YLD 1.460 -- 0.00 SPOT GOLD $1,310.40 0.07 % $0.90 US CRUDE $99.47 -0.01 % -0.01 > GLOBAL MARKETS-China leads as Asia shares ride Wall St gains > US STOCKS-Wall St ends up as ISM data upbeat; Apple above $600 > FOREX-Dollar subdued in thin trade, aussie eyes RBA > Gold near 3-week high as Ukraine fighting boosts safe-haven bids > METALS-Copper eases, nickel up 1 percent on return from holiday > Brent steady below $108; US stocks, Libya supply may weigh COMPANY NEWS: BMW AG The German luxury car maker reiterated its ambitious 2014 goals as first quarter operating profit rose 2.6 percent, in-line with forecasts, helped by a 12.1 percent rise in sales of BMW cars. CREDIT SUISSE Credit Suisse is in talks with the U.S. Justice Department to pay as much as $1.6 billion to resolve an investigation into the bank's role in helping Americans evade U.S. taxes, a person familiar with the matter said on Monday. ADIDAS The German sportswear company reported worse-than-expected first-quarter results on Tuesday due to a big drop in sales at its TaylorMade golf business but said it expected a strong second quarter to signal a return to growth. SYMRISE The German fragrance and flavours maker said quarterly core earnings rose 9 percent, buoyed by high capacity utilisation and strong growth in emerging markets, particularly in Latin America. LUFTHANSA Germany's largest airline reported a narrower first quarter loss, although still larger than expected, as its Score restructuring programme continued to take effect and fuel prices eased. LINDE The German industrial gases maker reported an unexpected decline in quarterly core profit, hit by currency fluctuations. AXEL SPRINGER The German publisher reported a 14 percent rise in its core profit, fuelled by its classified advertising units. UBS Swiss bank UBS said it will pay a special dividend to investors who help it transfer into a holding company, a bid to win rebates on capital rules demanded by regulators following the financial crisis. SOLVAY The Belgian chemical company earned a far greater profit than expected in the first quarter as demand steadily improved and savings measures drove margins sharply higher. LAFARGE The world's largest cement maker confirmed its full-year forecasts as it posted a drop in quarterly revenue after foreign exchange headwinds offset a rise in cement volumes and prices. ALSTOM The French government rejected General Electric's current bid for Alstom's energy assets, but opened the door for a deal that would also combine the two companies' rail businesses. FIAT CHRYSLER AUTOMOBILES The group plans to invest as much as 4-5 billion euros in six new Alfa Romeo models, the Financial Times reported, citing sources with knowledge of the group's five-year strategic plan. HANNOVER RE The reinsurer is sticking to its goal of earning net profit of around 850 million euros this year in face of reinsurers' weakening pricing power and stiff market competition, CFO Roland Vogel told Boersen Zeitung newspaper in an interview published on Tuesday. REPSOL The Spanish oil major will not continue on the board of Argentina's YPF having not applied for the renewal of its two board seats at an assembly last week, a document sent by YPF on Monday showed. Separately, without citing its sources, El Economista reported that Repsol is looking at acquiring assets in Norway with the largest possibility being assets owned by the Canadian group Talisman Energy. AIRBUS GROUP Latin American's largest carrier, LATAM Airlines Group, said it plans to invest $12.2 billion through 2020 on 166 new planes. LATAM will add Boeing BA.N 787s, and Airbus A320s and A350s, among others, to its fleet. (Reporting by Blaise Robinson; Editing by Francesco Canepa)
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