(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 25 (Reuters) - European stocks were seen opening mixed on Monday, continuining to consolidate after a strong week of gains which saw a top pan-European index hit three-month highs.
Futures on the Euro STOXX 50 were flat. Futures on the German DAX and the British FTSE were up 0.1 percent, while futures on the French CAC fell 0.2 percent.
The FTSEurofirst 300 hit its highest level since January on Thursday, before falling 0.4 percent on Friday. The index remained up 1.6 percent for the week - its second straight weekly rise.
On Monday, Asian shares dropped on Monday as investors took profits from the currency’s recent gains ahead of central bank meetings in the United States and Japan this week.
Attention will be increasingly focused on European earnings season as it gathers steam, although only a handful of companies reported numbers on Monday.
Dutch medical equipment and services company Philips beat earnings expectations, and said it will likely seek an initial public offering of shares for its lighting division, which would be the world’s largest lighting maker as a standalone company.
On the data front, the German IFO was due at 0800 GMT, with the business climate index seen rising, according to traders.
China’s auto market is normalising and the normalisation trend seen in the country’s auto market in 2015 will continue this year, said Ian Robertson, the global chief of sales and marketing at BMW.
A dispute has arisen on Deutsche Bank’s supervisory board over what some members view as the bank’s legal counsel’s over-zealous response to scandals it has been embroiled in, Frankfurter Allgemeine Sonntagszeitung reported.
Separately, Postbank, still a part of Deutsche, is considering putting in more automated processes to save on staff, according to a story due to run in Sueddeutsche Zeitung on Monday. It did not give any details of anticipated savings.
VW brand chief executive Herbert Diess is confident that management and labour will solve a dispute over cost-cutting at the core autos division and signalled readiness on Sunday to meet some of workers’ demands.
The carmaker is optimistic that its positive sales trend from the two previous quarters will continue in China, the world’s biggest auto market, its China chief Jochem Heizmann said on Sunday.
The French utility has secured a new government-backed multibillion-euro financing package ahead of making the final investment decision on its Hinkley Point nuclear power plant project in Britain.
EDF will also extend the depreciation period for its nuclear plants this year, its CEO said in a newspaper interview, an accounting move that will free up cash for costly investment projects.
French Economy Minister Emmanuel Macron said in a newspaper interview EDF would take a final investment decision on Hinkley Point in September.
Emmanuel Macron said in the Journal du Dimanche that France was sitting on a potential capital gain of hundreds of million euros on the 14 percent stake in the Peugeot Citroen carmaker it acquired a few years ago.
Businessman Patrick Drahi has decided to bring together his French media titles under the umbrella of his telecoms group SFR to create synergies, the Journal du Dimanche newspaper said without citing sources. The deal will be announced on Wednesday, the paper said.
Darty trade unions said in a joint statement on Friday they backed an offer by Conforama, a unit of South African furniture retailer Steinhoff, to buy Darty, against a rival bid from French retailer Fnac.
The statement from the CAT, CFDT, CFE-CGC, CFTC, CGT and FO unions said Fnac’s offer would be a complete failure on the job front while Conforama’s offer would insure the future of Darty.
The drugmaker aims to dispose of a 13.5 billion Swiss franc ($13.8 billion) stake in its local rival Roche and has hired banks to support the sale process, a Swiss paper reported on Sunday.
The Power Grids unit, which is under strategic review, had been “brought into shape” and was “back within the margin target corridor”, Chairman Peter Voser said in an interview published by daily Neue Zuercher Zeitung on Saturday.
The car maker said on Friday it is recalling more than 1.1 million cars and SUVs worldwide because the vehicles may roll away after drivers exit.
Viacom’s Paramount Pictures has offered EU regulators concessions aimed at averting a possible fine over geographical restrictions within Europe on movie licensing deals between Sky UK and six U.S. studios.
Samarco Mineração SA, which is jointly owned by mining companies Vale SA and BHP Billiton Plc, has not adopted measures to stop the leaking of mine tailings as required by a court after a deadly dam burst, a prosecutor said on Friday, an allegation that could delay the miner’s return to operations.
The Swedish engineering group is due to report first-quarter results at 1045 GMT. Core profit is seen down 11 percent in a Reuters poll.
For more on the company, click on
The Swedish metal-cutting tools and mining equipment firm is due to report first-quarter results at 1130 GMT. Core profit is seen down 23 percent in a Reuters poll.
For more on the company, click on
——————————————————————————————————————— > Asia stocks, dollar slip as markets await Fed, BOJ meetings > US STOCKS-Wall Street ends flat; Alphabet and Microsoft tumble > Nikkei slips as investors take profits ahead of Fed, BOJ meetings > TREASURIES-Yields at three-week highs before next week’s Fed meeting > FOREX-Yen hits 3-week low, sterling up after Obama’s UK visit > PRECIOUS-Gold steadies after slide, but investors cautious > Shanghai aluminium near 10-month high amid slow restarts in China > Oil falls as traders cash in after three weeks of gains
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 Alistair Smout