European Factors to Watch-Stocks set to steady with earnings, Fed in focus

miércoles 28 de octubre de 2015 03:40 GYT

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LONDON Oct 28 (Reuters) - European shares were set to open steady on Wednesday as investors digested a flurry of earnings reports ahead of a Federal Reserve policy decision later in the day.

Futures on the Euro STOXX 50, Germany's DAX, France's CAC and Britain's FTSE 100 were 0.1 percent lower to 0.3 percent higher.

Beverage firms are set to be in focus after Heineken reported strong sales growth in the Americas and Europe, while fellow brewer SABMiller extended the deadline for suitor AB InBev to make a formal offer for the firm.

Among earnings disappointments, Norway's Statoil posted a third-quarter operating profit below market forecasts and said it has cut its capital spending for this year by another $1 billion as the oil industry struggles with low crude prices.

With a quarter of STOXX Europe 600 companies having reported results, 59 percent have beaten or met expectations, Thomson Reuters Starmine data showed.

The Federal Reserve is expected to keep interest rates unchanged after European markets close on Wednesday, and may struggle to convince skeptical investors it can tighten monetary policy before the end of the year in the face of U.S. and global economic headwinds.

"October's FOMC statement is likely to include dovish tweaks to the descriptions of payrolls and activity," strategists at BNP Paribas said in a note.

"We expect no clear signal about the timing of interest-rate 'lift-off'."   Continuación...