European Factors to Watch-Shares seen lower, focus on Fed

martes 28 de abril de 2015 02:52 GYT

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    LONDON, April 28 (Reuters) - European shares headed for a weaker start on
Tuesday following some caution before the Federal Reserve's two-day policy
meeting, with weaker commodity prices seen putting pressure on mining and energy
    The U.S. Federal Open Market Committee will begin its meeting later in the
day. Analysts expect recent soft U.S. economic data will nudge the Fed towards a
dovish stance over its monetary policy.
    At 0630 GMT, futures for the Euro STOXX 50, Germany's DAX,
France's CAC and Britain's FTSE fell 0.1 to 0.4 percent.
    Commodity stocks could see a selling pressure and prices of key industrial
metals   fell as much as 1 percent, while oil fell more
than 1 percent ahead of weekly U.S. crude inventory data that is expected to hit
another high.
    Investors will continue to keep a close eye on developments in Greece, which
has been a key source of market volatility in the past weeks. Greek Prime
Minister Alexis Tsipras on Monday reshuffled his team handling talks with
European and IMF lenders, a move widely seen as an effort to relegate embattled
Finance Minister Yanis Varoufakis to a less active role in negotiations.
    "There are some interesting developments in Greece ... Varoufakis was seen
by some as being part of the problem and as a result news of him being sidelined
has been well received," IG said in a morning note.
    Technology stocks will be in focus after Apple beat Wall Street's
revenue and profit forecasts on Monday as it sold more iPhones in China than the
United States for the first time. Its shares rose 1.6 percent in after-hours
    On the earnings front, BP reported first-quarter profit of $2.58
billion, largely beating expectations, French oil major Total posted a
smaller-than-expected 22 percent drop in first-quarter net profit and Philips
 said its comparable sales rose 2 percent to 5.3 billion euros in the
first quarter.
    Commerzbank on Monday launched a surprise capital increase, seeking to raise
1.4 billion euros ($1.5 billion) to improve its regulatory strength measures in
response to investor concerns after the bank paid a heavy fine in March.
    A source familiar with the matter told Reuters that the books were covered
late on Monday. 
    BP reported first-quarter profit of $2.58 billion, largely beating
expectations, as a hefty increase in refining revenue offset a slump in oil
production earnings.
    The French oil major reported a smaller-than-expected 22 percent drop in
first-quarter net profit, helped by rising refining margins and sharp growth in
oil and gas production that partly offset lower crude prices. 
    A radical plan for Deutsche Bank to become a pure investment bank and
corporate lender was dropped after stress tests demanded by the European Central
Bank concluded the model would not withstand a severe financial crisis, sources
    Separately, co-CEO Juergen Fitschen will stand trial on Tuesday in Munich
over allegations that he and other former executives worked to precipitate the
collapse of the media empire in order to generate bountiful advisory fees to
restructure the group. 
    The company reported a smaller than expected operating loss thanks to more
of its customers, makers of light emitting diodes (LED), ordering its tools
after holding back for months, while cost cuts started to pay off.
    Tthe lighting, consumer and healthcare products company said on Tuesday its
comparable sales rose 2 percent to 5.3 billion euros ($5.76 billion) in the
first quarter. 
    German automaker Daimler said on Tuesday first-quarter operating profit
surged 41 percent on effects of new model launches and record sales of
Mercedes-Benz luxury cars.  
    The board of Norwegian energy firm Statoil will ask shareholders to
authorize the buyback of 75 million shares, or about 2.4 percent of the firm's
share capital, Statoil said in a general meeting notice on Tuesday.
    The world's biggest lock maker posted a rise in first-quarter operating
profit in line with expectations on Tuesday and said the economic trend in the
United States was positive while Europe and many emerging markets were
    France's largest telecom operator posted slightly lower quarterly results
that were largely in line with expectations as mobile subscriber growth and
expense-cutting failed to offset higher network spending.
    The French gas and power group posted a 10 percent drop in first-quarter
core earnings due to lower gas prices and the outage of two Belgian nuclear
plants but left its 2015 forecasts unchanged. 
    Santander reported net profit rose 32 percent in the first quarter from a
year earlier to 1.717 bln euros, in line with forecasts. 
    Dutch logistics group TNT Express reported a first-quarter operating loss
and lower comparable revenues and said the coming year would be difficult as it
prepares to be taken over in 2016 by larger American rival FedEx.
    The Swedish banking group reported first-quarter net earnings above market
expectations but said its Swedish operations were feeling the impact of negative
interest rates imposed by the Nordic country's central bank. 
    The German drugs distributor said on Monday it would put its businesses in
Brazil up for sale to allow it to focus on Europe. 
    United Internet said it agreed to buy 9.1 percent of shares in Drillisch,
which will raise its holding in the mobile telephone company to 20.7 percent. It
said it had no plans to further increase its stake above 30 percent.
    The French drugmaker said the U.S. Food and Drug Administration has agreed
to speed up the review of its drug application for a new Fabry disease
    The French seed group cut its full-year sales and margin targets, blaming a
financial crisis in Russia and Ukraine that has dented spending by farmers.
    The luxury group said Pierre Bouissou was stepping down as Boucheron
president and chief executive. Albert Bensoussan, CEO of Kering's luxury watches
and jewellery division, will take over responsibility for the brand until a
    Gamesa said on Tuesday it has signed an agreement in India to build turn-key
wind farms with capacity of 50 megawatts (MW) and 108 MW and supply turbines
with a capacity of 36 MW to four other plants throughout the country.
    Telefonica Brasil SA said on Monday its board had approved a share offering
priced at 47 reais ($16.12) for preferred shares and 38.47 reais for commons
shares, as the company raises funds to buy broadband provider GVT.
    Repsol said on Monday it has reached a deal with Mexico's Kuo to
expand a joint venture Dynasol with estimated revenues of $750 million.
    The next generation of nuclear reactors being developed in countries such as
France, Russia, China and Japan may not be safer than those being built today,
French nuclear safety watchdog IRSN said. 
    Italian oil services group Saipem on Monday reported stronger than expected
first-quarter operating profit thanks to healthier profit margins from new
    A consortium led by France's Bollore failed to make the final shortlist of
firms vying to manage a new container terminal in Cameroon's southern port of
Kribi, according to a commission report seen by Reuters. 
    Poland is planning to choose a supplier of 30 attack helicopters by the end
of this year, Deputy Defence Minister Czeslaw Mroczek said. 
    The carmaker plans to sign a contract before the summer to extend its diesel
engine partnership with Ford, French newspaper Les Echos reported, citing
an internal source at Peugeot. 
    Dunnhumby, the customer data business which has been put up for sale by
British retailer Tesco, said it was free to work with new clients in
the United States, in a move which could make it more attractive to potential
    Britain's largest energy supplier Centrica has made preparations in
case it is approached with a takeover offer, the utility's chairman said at the
company's annual shareholders' meeting in London. 
    Q1 2015 Bristol-Myers Squibb Co           
    Q1 2015 Boston Scientific Corp            
    Q1 2015 Cummins Inc                       
    Q1 2015 Ford Motor Co                     
    Q1 2015 Kraft Foods Group Inc             
    Q1 2015 McGraw Hill Financial Inc         
    Q1 2015 Merck & Co Inc                    
    Q1 2015 Pfizer Inc                        
    Q1 2015 United Parcel Service, Inc.       
    Q3 2015 Western Digital Corp              
    Q1 2015 Whirlpool Corp                    

    FR Consumer Confidence
    GB GDP Prelim
    US redbook
    US CaseShiller
    US COnsumer Confidence
                                         LAST   PCT CHG      NET CHG   
 S&P 500                             2,108.92   -0.41 %        -8.77   
 NIKKEI                              20068.64    0.43 %        85.32   
 MSCI ASIA EX-JP                       521.69   -0.41 %        -2.14   
 EUR/USD                               1.0871   -0.14 %      -0.0015   
 USD/JPY                               119.09    0.05 %       0.0600   
 10-YR US TSY YLD                       1.924        --         0.00   
 10-YR BUND YLD                         0.164        --         0.00   
 SPOT GOLD                          $1,199.85   -0.14 %       -$1.70   
 US CRUDE                              $56.24   -1.32 %        -0.75   
  > Asian shares edge off 7-year highs as Fed awaited 
  > Wall St ends down as biotechs drop 4 pct; Apple up late 
  > Nikkei rises on dividend optimism, Fanuc soars 
  > U.S. bonds prices flat; weak bid at 2-year sale 
  > Euro holds gains after rising on Greek hopes, dollar awaits data 
  > Gold clings on near $1,200 ahead of Fed meeting 
  > London copper edges up, underpinned by Chinese stimulus hopes 
  > Oil falls more than 1 pct as U.S. crude stockpiles expected to hit high 

 (Reporting by Atul Prakash)