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MILAN, Feb 19 (Reuters) - European shares were seen opening little changed on Friday after hitting two week highs in the previous session, as oil prices fell back following a strong rally on fresh concerns over a global supply glut.
Futures for the Euro STOXX 50, Germany's DAX, France's CAC and UK's FTSE were trading between flat and a 0.1 percent fall.
Asian shares slipped from near three-week highs on Friday as a rally in oil prices reversed and investors remained cautious about the outlook for the global economy.
On Thursday, the pan-European FTSEurofirst 300 index fell 0.1 percent at 1,293.92 points, having touched 1,304.97 points earlier in the session - its highest level since Feb. 4.
Shares in Allianz are indicated lower after the German insurer missed profit and dividend epectations but unveiled a 2016 operating profit target of up to 11.0 billion euros that was in line with analysts' expectations.
French media and music group Vivendi said its supervisory board approved a tender offer for the shares of Gameloft at 6 euros a share as it aims to expand into the video games business.
French telecoms market regulator Arcep warned Bouygues Telecom and SFR that they must respect their obligations in terms of 4G coverage for less densely populated areas.
The French steel pipe maker, which supplies oil and gas companies, reported a 2015 net loss, cut investments for a second consecutive year and said it expects adverse market conditions to persist throughout 2016.
The French car parts maker said Chief Executive Jacques Aschenbroich would take on the additional role of chairman as it posted a 30 percent rise in full-year net profit and proposed hiking its dividend by 36 percent.
The French battery maker's 2015 net profit plunged 72 percent as a slower-than-expected switch to lithium-ion batteries forced the company to take a writedown on its factories.
Moody's ratings agency upgraded Renault's ratings to Baa3 with a stable outlook.
Credit rating agency Fitch on Thursday downgraded Royal Dutch Shell following its acquisition of BG Group, citing risks to its asset sales goals to finance the $53 billion deal.
HSBC will pay more than $4 million to settle Massachusetts regulatory claims over force-placed insurance, the state's attorney general Maura Healey said.
Abengoa said on Thursday it will carry out a sewer and drinking water project in Peru in consortium with GyM SA through a 50 percent participation. The project is worth $52 million.
The insurer unveiled an operating profit target of up to 11.0 billion euros for 2016 that was in line with analysts' expectations, citing an "increasingly challenging" business environment.
South Korean prosecutors on Friday searched the local office of Volkswagen and its unit Audi as part of a probe into an emissions case, a spokesman for the German carmakers' local unit said, confirming media reports.
The postal services group said late on Thursday it will not divest its freight forwarding division because it is confident about its business prospects.
Stuttgart state prosecutors are seeking a punitive fine of 807 million euros for Porsche SE and prison terms for Porsche SE's former chief executive and finance chief, who are accused of having manipulated Volkswagen shares during a failed takeover of VW in 2008.
INFINEON - dividend 0.20 eur/shr
Swiss inspections group SGS and U.S. group Weatherford International Plc traded recriminations on Thursday, both denying responsibility for the disappearance last year of radioactive material used to test pipes at an oil field in southern Iraq.
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Grupo BTG Pactual SA is in talks to combine its Swiss-based private-banking unit with EFG International AG in a transaction that could be announced as early as next week, two sources with knowledge of the plan said on Friday.
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An Italian court has suspended for now a decision by market watchdog Consob calling on Hitachi to raise the price of its bid for train signalling group Ansaldo STS.
Enel and EGP said on Thursday their integration would go ahead and added the total value of EGP shares subject to withdrawal and sale is approximately 29.2 million euros, or 0.33 percent of EGP share capital.
The option offer to EGP shareholders for the shares subject to withdrawal will commence on Feb. 19.
The grid operator has issued a 10-year bond for 80 million euros through a private placement, it said on Thursday.
The cement maker said on Thursday it FY revenue were 4.30 billion euros ($4.77 billion) versus 4.16 billion euros a year ago, while net loss widened to 120 million euros.
> Asian shares slip from 3-week high as oil rally reverses > Wall St falls, snapping three-day rally; Wal-Mart weighs > Tokyo's Nikkei share average closes down 1.42 pct > U.S. bond prices jump as Wall Street rally fades > Yen gains as risk assets wobble, hits 2-1/2 year high vs euro > Gold dips, but holds above $1,200 on softer equities > London copper to post fourth weekly gain in five > Oil prices fall on oversupply concerns after US crude stocks hit record
Reporting by Danilo Masoni