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LONDON, Nov 24 (Reuters) - European shares were expected to fall for a second day on Tuesday, tracking losses on Wall Street, with some disappointing company updates seen putting pressure on the market.
Aerospace supplier Zodiac Aerospace posted a 44.6 percent drop in core annual earnings in the wake of production delays at its troubled aircraft seats division, while Kingfisher, Europe’s largest home improvement retailer, missed forecasts with a 6.6 percent fall in third-quarter profit.
Travel and leisure stocks will remain in focus. The U.S. State Department issued a global alert on Monday for Americans planning to travel following deadly militant attacks in France and Mali citing “increased terrorist threats” from militant groups in various regions of the world.
Travel information firm ForwardKeys said new flight bookings to Paris, one of the world’s most visited cities, have fallen by over a quarter in the week following attacks there that killed more than 120 people.
Futures for the Euro STOXX 50, Germany’s DAX, France’s CAC and Britain’s FTSE 100 were down 0.2 to 0.5 percent by 0733 GMT.
The pan-European FTSEurofirst 300 index closed 0.3 percent lower at 1,500.14 points in the previous session.
The aerospace supplier posted a 44.6 percent drop in core annual earnings in the wake of production delays at its troubled aircraft seats division.
New flight bookings to Paris, one of the world’s most visited cities, have fallen by over a quarter in the week following attacks there that killed 130 people, according to data provided by a travel information firm.
The French yoghurt maker said it had successfully launched a 750 million euro bond that will help extend the maturity of its debt.
Unipetrol is interested in buying filling stations from OMV and Royal Dutch Shell in the Czech Republic, the Hospodarske Noviny newspaper reported on Tuesday.
British engineering company Rolls-Royce said it would launch a major restructuring programme, as its new chief executive Warren East gave further details of his plans to turn around the company.
Kingfisher, Europe’s largest home improvement retailer, missed forecasts with a 6.6 percent fall in third-quarter profit, hurt by a soft market in France and adverse foreign exchange movements.
The French carmaker will co-operate with Brussels-based NGO Transport & Environment to measure and publicise the real-world fuel consumption of its vehicles, Chief Executive Carlos Tavares told reporters.
Next, Patrick Drahi’s personal holding, said it wanted to exercise a right to sell 7.5 percent of Altice’s shares.
Philippine Airlines is in talks with Airbus and Boeing Co to buy as many as 12 wide-body aircraft and will decide on the purchase before the end of the year, the flag carrier’s President, Jaime Bautista, told Reuters.
The French media group’s stake of around 20 percent in Telecom Italia does not necessarily constitute a dominant position, the Italian company’s chairman said.
Spanish bank BBVA has become the latest Spanish lender to move into the British market by acquiring an almost 30 per cent stake in Atom, the UK’s first digital-only lender, according to a report in the FT.
EUSKALTEL Spanish telecoms group Euskaltel said on Monday it was launching a share issue to help pay for its 1.19 billion euro ($1.3 billion) acquisition of R Cable, adding the placement should be completed in coming days.
The company could face production restrictions as German local authorities are withholding approval of its request for the continued discharge of waste water from processing potash.
The steps needed to fix about 8.5 million VW cars in Europe fitted with illegal emissions-control software are technically and financially manageable, the automaker’s chief executive said on Monday.
German financial watchdog Bafin has approved the solvency model to be used by the insurance group under new EU risk-capital rules that take effect on Jan. 1, Talanx said on Monday.
The bank will issue loans to the tune of 1.33 billion euros and take overall pre-tax charges of some 300 million euros for its part in the rescue of four Italian banks, a banking source said on Monday.
The bank will pay 160 million euros in the fourth quarter into the fund set up to rescue four Italian banks, the lender’s CEO said on Monday. (Reporting by Atul Prakash)