3 de febrero de 2016 / 7:18 / en 2 años

European Factors to Watch-Equity futures fall as oil prices drop

(Adds futures prices, company news items)

LONDON, Feb 3 (Reuters) - European equity futures fell on Wednesday, pushed down by weak oil prices which also impacted other equity markets in Asia and the United States.

Futures on the euro zone’s blue-chip Euro STOXX 50, Germany’s DAX , France’s CAC and Britain’s FTSE were all down by between 0.5-0.7 percent.

Asian shares tumbled on Wednesday as oil prices dropped for a third day, prompting investors to seek shelter in safe-haven assets and lifting bonds and gold to multi-month highs.

Oil futures extended losses into a third session on Wednesday as U.S. crude stocks last week surged to more than half a billion barrels and as Iran plans to boost exports from March.

The pan-European FTSEurofirst index fell 2 percent on Tuesday, having closed 0.2 percent weaker on Monday. The index is down 8.5 percent so far this year, with global stock markets hit by concerns about a slowdown in China, the world’s second-biggest economy and a major consumer of oil and metals.

Syngenta will also be in focus after China’s state-owned ChemChina said it would make an agreed $43 billion bid for the Swiss seeds and pesticides group, marking the largest ever overseas acquisition by a Chinese company.

COMPANY NEWS:

ABB :

Power equipment maker ABB said fourth-quarter net profit fell more than two-thirds as the company booked restructuring charges meant to cut costs amid slumping demand for transformers and motors.

AXA :

French insurer AXA said on Wednesday it reached a deal with OTP Bank to sell its Hungarian banking operations as its AXA Bank Europe unit focuses on the Belgian retail market.

BBVA :

Spain’s second-biggest bank BBVA on Wednesday posted a 36.4 percent rise in net profit in the fourth quarter from a year earlier to 940 million euros ($1 billion), helped by lower provisions against bad loans and beating analysts’ forecast.

HANNOVER RE :

Germany’s Hannover Re said substantial price declines in some reinsurance markets at the start of the year did not threaten its goal of earning about 950 million euros ($1.04 billion) in net profit in 2016.

KPN :

KPN, the largest Dutch telecommunications company, reported worse than expected core earnings on Wednesday due to ongoing declines in sales to business customers and a lost tax benefit.

NOVO NORDISK :

Novo Nordisk specified its 2016 guidance and lowered its target for long-term profit growth after a slightly weaker than expected fourth quarter.

OSRAM :

German lighting group Osram said on Wednesday it swung to a net profit in its fiscal first quarter, helped by proceeds from the sale of its stake in China’s Foshan Electrical & Lighting Co and lower restructuring costs.

SANDVIK :

Engineering group Sandvik posted a marginally deeper than expected fall in fourth quarter core operating earnings on Wednesday and cut its dividend, saying demand had weakened further in the final months of last year.

SYNGENTA :

China’s state-owned ChemChina will make an agreed takeover offer for Swiss seeds and pesticides group Syngenta for $465 (473.3 Swiss francs) per share in cash, the companies said on Wednesday.

SWATCH :

Swiss watchmaker Swatch Group forecast 2016 sales growth will be well over 5 percent in local currency after reporting 2015 net profit fell 21 percent to 1.12 billion Swiss francs ($1.10 billion), hit by foreign exchange losses.

VOLKSWAGEN :

The California Air Resources Board and Environmental Protection Agency said late on Tuesday that Volkswagen AG submitted a plan to fix 80,000 recalled 3.0 liter diesel SUVs and cars that emit up to nine times legally allowable pollution. ------------------------------------------------------------------------------ > Asian shares fall, safe assets shine as oil retreats > US STOCKS-Wall St slides with Exxon, oil; Chipotle dips after close > Nikkei tumbles over 3 pct as falling oil, strong yen hit sentiment > TREASURIES-Yields drop to nine-month lows as oil prices resume slide > Yen rises as oil drop brings focus back to global woes > Gold sticks near 3-month high as risk aversion in play > Copper falls from 4-wk peak as short-covering rally fades > Oil futures drop for 3rd session on rising crude stocks, oversupply (Reporting by Sudip Kar-Gupta)

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