(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report)
LONDON, March 30 (Reuters) - European stocks were seen opening higher on Wednesday, tracking gains on Asian and U.S. markets after Federal Reserve Chair Janet Yellen called for caution on raising interest rates.
Financial spreadbetters expected Britain’s FTSE 100 to open up by 39 points, or 0.6 percent higher. Germany’s DAX was seen up by 47 points, or 0.5 percent higher, while France’s CAC was seen up by 20 points, or 0.5 percent higher.
Yellen said on Tuesday that the U.S. central bank should proceed only cautiously as it looks to raise interest rates, pushing back on a handful of her colleagues who have suggested another move may be just around the corner.
French transport group Alstom said on Tuesday it wanted 30 percent of orders to come from newly developed products by 2020, a horizon by which sales are expected to grow by five percent annually.
Danone Nutricia has cut sales to China of a baby formula brand that was caught up in the 2013 botulism contamination scare, the company said on Wednesday.
An anonymous whistleblower has accused Swiss drugmaker Novartis of paying bribes in Turkey through a consulting firm to secure business advantages worth an estimated $85 million, according to a Feb. 17 email seen by Reuters.
SMA Solar, Germany’s largest solar group, posted its first operating profit in three years on Wednesday and recommended payment of a dividend, the first since 2012, as strong foreign demand accelerated its turnaround.
India’s Tata Steel, Britain’s largest steelmaker, is considering the sale of its entire UK business to stem heavy losses, a move that would draw a line under its almost decade-long foray into Britain’s declining steel industry.
The U.S. Federal Trade Commission on Tuesday sued Volkswagen Group of America, saying the U.S. arm of the German automaker falsely advertised more than a half million diesel vehicles as environmentally friendly when it knew they were emitting excess pollution.
------------------------------------------------------------------------------ > GLOBAL MARKETS-Shares, bonds rally, dollar off as Yellen strikes cautious pose > US STOCKS-Wall Street hits 2016 high after Yellen delivers > Nikkei edges down as dollar falls vs yen after Fed comment > TREASURIES-U.S. bonds rally as Yellen sticks to dovish script > FOREX-Dollar bulls retreat as Yellen stresses need for caution > PRECIOUS-Dovish Yellen, softer dollar support gold near $1,240 > METALS-London copper hits more than two-week low on slowdown worries > Oil prices rebound on less than expected build in stocks
ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.
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Mike Dolan, Markets Editor EMEA.
Reporting by Sudip Kar-Gupta