(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, April 12 (Reuters) - European stocks were seen opening slightly lower on Tuesday, with weak-looking results from Alcoa potentially weighing on mining stocks.
Spreadbetters at IG expected Britain’s FTSE 100 to open down by around 9 points, or 0.2 percent lower. Germany’s DAX was seen down by open 7 points, or 0.1 percent lower, while France’s CAC was seen down by 11 points, or 0.3 percent lower.
Metals company Alcoa Inc on Monday reported a lower quarterly profit, with results hurt by low commodity prices, the strong U.S. dollar and plant closures or divestments, but the company’s top executive said he expected aluminum demand to grow faster than supply this year.
Alcoa also lowered its 2016 outlook for global sales in the aerospace industry, and its shares fell 5 percent in after-hours trading.
Givaudan, the world’s biggest fragrance and flavours maker, on Tuesday confirmed its mid-term targets as it posted first-quarter sales numbers in line with analysts’ expectations.
Luxury goods industry leader LVMH on Monday posted first-quarter sales below forecasts as tourist shopping in key markets such as France and Hong Kong remained low.
Nomura Holdings Inc plans to cut between 500-600 jobs, mainly in its European cash equities business, as Japan’s biggest brokerage tries to stem years of heavy losses racked up in its long-term drive to become a major global industry player, people familiar with the matter said on Tuesday.
Volkswagen will slightly delay the recall of 160,000 Passat and Skoda cars in Europe after software updates aimed at fixing emission violations failed to work, it said on Monday.
——————————————————————————————————————— > GLOBAL MARKETS-Japan leads Asia stocks higher, oil buoyant as dollar sags > US STOCKS-Wall St closes lower as investors ready for earnings > Nikkei rises after weaker yen lifts exporters, banks outperform > TREASURIES-U.S. bonds flat as markets await inflation data > FOREX-Dollar hovers near 8-month lows, sterling outperforms > PRECIOUS-Gold at 3-wk high as dollar struggles amid US rate outlook > METALS-London copper near weakest since Feb, dollar offers support > Oil prices dip but hold above $40 ahead of producer meeting
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)