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LONDON, Jan 20 (Reuters) - European equity futures dropped lower on Wednesday as a relentless slide in oil prices hit world markets.
Futures on the Euro STOXX 50, Germany’s DAX, France’s CAC and Britain’s FTSE were down by between 1.9-2.7 percent.
Energy and mining shares could again bear the brunt of a sell-off.
U.S. crude oil prices fell to their lowest level since 2003 after the world’s energy watchdog warned the market could “drown in oversupply”.
The pan-European FTSEurofirst 300 index had closed up 1.4 percent on Tuesday, marking a rebound from 13-month lows reached earlier this month.
The head of one of the world’s biggest aviation fleets played down the risk of a price war over big jets like the Boeing 777 on Tuesday, saying its U.S. manufacturer would rather sacrifice production than risk damaging its own portfolio.
French nuclear group Areva won several long-term contracts last year from four U.S. utilities for uranium enrichment services worth more than $300 million, the group said on Tuesday.
ASML Holding said on Wednesday its fourth-quarter net profit fell 4.3 percent to 292 million euros ($319.8 million) from a year earlier, but was ahead of analysts’ expectations
Swiss chocolate maker Barry Callebaut beat expectations for its first-quarter sales on Wednesday, with revenue rising more than three times as fast as forecast in a Reuters poll.
Britain’s BG Group, which is close to concluding a takeover from rival energy company Shell, beat 2015 production targets due to a ramp-up from fields in Australia, Brazil and Norway, it said on Wednesday.
The sheer scale of EDF’s 18 billion pound ($25.55 bln) project to build two nuclear reactors at Britain’s Hinkley Point, puts the French utility at risk, the CFE-CGC managers union warned on Tuesday.
Utility E.ON will reduce its standard residential gas price in Britain by an average 5.1 percent from Feb. 1, it said on Wednesday.
High-end watchmakers have signalled a shift in strategy with an expanded range of more affordable products to counter the most severe downturn the industry has faced since the 2008-09 financial crisis, executives at a watch fair in Geneva said.
A fall in deposits at Italy’s Monte dei Paschi has been “limited” and revenues in the last quarter of last year rose compared with the previous three months and the same period a year earlier, the bank’s chief executive said on Wednesday.
Randgold Resources has signed three joint venture agreements with junior miners to explore potential gold deposits in northeastern Democratic Republic of Congo, its chief executive Mark Bristow said on Tuesday.
Vivendi’s investment in Telecom Italia is not a point of entry for French telecoms group Orange into the Italian group, the CEO of the media group said on Tuesday, shooting down talk that it could facilitate a tie-up between the two telecom companies.
Europe’s Industry Commissioner has written to the chief executive of Volkswagen asking for detailed information on cars affected by the emissions scandal and calling for Europeans to be compensated in the same way as U.S. customers.
Zurich Insurance on Wednesday flagged an estimated $100 million fourth-quarter business operating loss for its flagship general insurance (GI) business, largely due to claims from storms and floods in Britain and Ireland. ------------------------------------------------------------------------------ > GLOBAL MARKETS-Asia stocks hit 4-year trough as oil spirals lower > US STOCKS-S&P 500 ends unchanged; more carnage in oil stocks > Nikkei hits 14-1/2 month low on oil rout, stronger yen > TREASURIES-U.S. bond prices slip as stocks eke out gains > FOREX-Dollar retreats as crude oil resumes descent, yen gains > PRECIOUS-Gold edges higher as Asian stocks retreat, oil extends rout > METALS--London copper drifts lower as hopes grow for China stimulus > Oil falls more than 2 pct on surplus worries, as U.S. drops towards $27
Reporting by Sudip Kar-Gupta