European Factors to Watch-Shares head for steady open, focus on energy

miércoles 24 de febrero de 2016 03:55 GYT
 

(Adds futures prices, adds company news)

LONDON Feb 24 (Reuters) - European shares headed for a steady open on Wednesday after sharp losses in the previous session, with investors seen focusing on company results for the market's near-term direction.

Futures for the Euro STOXX 50, Germany's DAX , France's CAC and Britain's FTSE were flat to 0.1 percent lower.

Airbus posted 2015 profit in line with forecasts and announced plans to reverse part of a planned production cut of A330 aircraft, while French conglomerate Bouygues said improved profitability at its telecoms unit and at its TF1 television channel helped it deliver forecast-beating operating profit last year.

According to Thomson Reuters StarMine data, 58 percent companies in the STOXX Europe 600 index have announced results so far, of which 5 percent have met or beaten analyst forecasts.

Energy shares will be in focus after oil prices extended their sharp falls from the previous session after top exporter Saudi Arabia ruled out production cuts and industry data showed a further build in U.S. crude stockpiles.

European shares fell in the previous session on weaker oil prices and disappointing updates from companies such as Standard Chartered and BHP Billiton, with the pan-European FTSEurofirst 300 index index closing 1.3 percent lower. U.S. shares closed 1.1 to 1.5 percent lower.

On Wednesday, MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.2 percent, while Japan's Nikkei closed down 0.9 percent.

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