(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, May 12 (Reuters) - European shares were seen opening lower on Thursday, with a pullback in oil prices and losses on Asian and U.S. equity indexes potentially impacting markets.
Financial spreadbetters at IG expected Britain’s FTSE 100 to open down by 27 points, or 0.4 percent lower. Germany’s DAX was also seen down by 27 points, or 0.3 percent lower, while France’s CAC was seen down by 6 points, or 0.1 percent lower.
Asian shares fell on Thursday following a dismal day on Wall Street, while the dollar took a breather from this week’s rebound and crude oil gave back some of its recent gains.
Oil prices fell on Thursday, dragged down by the gradual return of Canadian oil sands output, reversing a sharp rise the previous day when the U.S. government detailed an unexpected fall in crude inventories.
The pan-European FTSEurofirst 300 index closed down 0.5 percent on Wednesday.
French supermarket operator Casino said it intended to launch a cash tender offer for Cnova NV shares.
Credit Agricole reported a 71 percent fall in first-quarter net income, weighed down by the launch of its plan to revamp complex shareholding ties with its parent group, and weakness in French retail and investment banking.
LafargeHolcim’s first-quarter operating profit fell more than analysts expected as earnings continue to lag following a merger in 2015 that created the world’s biggest cement maker.
RWE, Germany’s second-largest utility, on Thursday said its first-quarter operating profit rose 7 percent to 1.7 billion euros ($1.94 billion), beating consensus, citing an unusually high earnings contribution from its trading and gas midstream division.
Insurer Swiss Life saw first-quarter premiums fall 10 percent in local currency to 6.7 billion Swiss francs ($6.90 billion), it said on Thursday, well below market expectations.
Germany’s biggest residential property company Vonovia on Thursday raised its full-year guidance after its first-quarter core profit jumped 58 percent, beating analysts’ expectations for a 54 percent increase.
Swiss insurer Zurich Insurance on Thursday posted a 28 percent year-on-year drop in first-quarter net profit, a smaller fall than analysts had forecast. ——————————————————————————————————————— > GLOBAL MARKETS-Asian shares wilt, take cue from Wall Street > US STOCKS-Wall St slumps as Disney and Macy’s slam consumer shares > Nikkei snaps 3-day winning streak; yen strength weighs on corporate profits > TREASURIES-Yields fall after strong 10-year note auction > FOREX-Dollar hamstrung by growth woes, fails to clear hurdle vs yen > METALS-London copper rises from near one-month low as dollar offers support > Oil prices fall as Canadian oil sands fields gradually return
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)