European Factors to Watch-Shares seen higher, earnings in focus

lunes 8 de febrero de 2016 03:34 GYT
 

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LONDON Feb 8 (Reuters) - European shares were expected to edge higher on Monday after steep losses in the previous week, with a rise in crude oil prices and some positive company earnings seen underpinning the market.

Energy stocks will be in focus after crude oil prices rose on Monday in thin trade as many Asian markets were on holiday for Lunar New Year, with few trading cues expected until Federal Reserve Chair Janet Yellen gives testimony to lawmakers later in the week.

On the earnings front, Portugal's Galp Energia posted a higher-than-expected fourth-quarter net profit, while Assa Abloy, the world's top lock maker, recorded a bigger-than expected rise in organic growth during the quarter.

By 0721 GMT, futures for the euro zone's blue-chip Euro STOXX 50, Germany's DAX, France's CAC and Britain's FTSE were up 0.3 to 0.6 percent.

The pan-European FTSEurofirst 300 index closed 0.8 percent lower at 1,283.04 points on Friday. It fell 4.8 percent during the week after gaining in the previous two weeks in a row.

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