European Factors to Watch-Shares seen down, focus on commodity stocks

martes 12 de enero de 2016 03:49 GYT

(Adds futures prices, company news)

LONDON Jan 12 (Reuters) - European stock index futures pointed to a weaker start for equities on Tuesday, with further volatility in Chinese markets and lingering concerns about the pace of economic growth in the world's second largest economy hitting sentiment.

China set another firm fix for its currency on Tuesday and stepped up a verbal campaign, backed by what dealers said was aggressive buying, to convince sceptical investors that they were in control of events.

China's equity markets, which tumbled 10 percent last week and a further 5 percent on Monday, remained volatile, going from black to red and back again. The Shanghai Composite Index was up 0.2 percent, while the CSI300 index rose 0.7 percent.

Focus will be on commodity stocks after copper prices fell to their weakest since 2009, while crude oil slipped further to record a 20 percent falls since the beginning of the eyar.

Futures for the Euro STOXX 50, Germany's DAX, France's CAC and Britain's FTSE were down 0.1 to 0.3 percent by 0742 GMT.

The pan-European FTSEurofirst 300 index ended 0.4 percent lower at 1,335.11 points on Monday after slumping 7 percent last week.

Investors will keep a close eye on some earnings reports and company updates for the market's near-term direction.

SAP, Europe's largest software company, reported record annual operating profits, driven both by year-end software license renewals and customers' converting to newer cloud-based software.   Continuación...