(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 27 (Reuters) - European stocks were opening flat on Wednesday, although technology stocks may come under pressure after Apple posted its first-ever decline in iPhone sales.
Financial spreadbetters at IG expected Britain’s FTSE 100 to open down by 1 point, unchanged in percentage terms. Germany’s DAX was seen up by 11 points, or 0.1 percent higher, while France’s CAC was seen up by 2 points.
On Tuesday, Apple posted its first-ever decline in iPhone sales and its first revenue drop in 13 years as the company credited with inventing the smartphone struggles with an increasingly saturated market.
The company’s sales dropped by more than a quarter in China, its most important market after the United States, and it also forecast another disappointing quarter for global revenues.
Investors will also be focusing on a U.S. Federal Reserve meeting later in the day.
While the Fed is expected to hold interest rates steady, it could also take a more upbeat view on the economy, keeping the way open for future rate rises.
Belgian supermarket group Delhaize reported on Wednesday a stronger-than-expected operating profit in the first quarter, driven by lower costs and strong sales growth in Southeastern Europe.
German forklift truck maker Kion said its first-quarter operating profit rose to 98.6 million euros ($111.4 million) thanks to sustained demand for its forklift trucks and warehouse services business in Europe.
Nestle has struck a deal with Britain’s R&R Ice Cream to form a joint venture that will sell ice cream and frozen food in over 20 countries, its latest attempt to adapt to a changing and more competitive packaged food market.
Nordea, the Nordic region’s biggest bank by market value, reported first-quarter operating profit that missed forecasts on Wednesday as its core net interest income landed below expectations.
Norsk Hydro, one of the world’s largest aluminium producers, said the global primary metal market was largely balanced this year as it reported operating earnings above forecasts for the first quarter on Wednesday.
Norwegian oil major Statoil reported adjusted operating earnings above forecasts for the first quarter on Wednesday and maintained its outlook and quarterly dividend. ——————————————————————————————————————— > GLOBAL MARKETS-Asia stocks subdued with central banks in focus, oil holds gains > US STOCKS-S&P500 index buoyed by commodity sectors; Apple drags futures lower > Nikkei slides as Apple-linked stocks wilt, poor earnings stoke worries > TREASURIES-U.S. yields rise on supply ahead of Fed statement > FOREX-Aussie plunges as prices fall; dollar and yen look to Fed, BOJ > PRECIOUS-Gold edges up ahead of Fed on softer dollar, weak U.S. data > METALS-Copper extends losing streak to 3rd day on China concerns > Oil prices jump on weak dollar, strong investor appetite
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)