(Adds futures prices)
MILAN, Feb 22 (Reuters) - European shares were expected to open higher on Monday following gains in Asia overnight and helped by a recovery in crude oil prices.
Futures for the Euro STOXX 50, Germany’s DAX, France’s CAC and UK’s FTSE were all trading up between 0.7 percent 1 percent by 0711 GMT.
Asian share markets rose on Monday, extending last week’s gains, as investors awaited a rush of February industry surveys to take the pulse of the global economy, while sterling stumbled on concerns the UK might yet vote to leave the European Union.
On Friday, the pan-European FTSEurofirst 300 fell 0.7 percent at 1,285.07 points, but gained 4.3 percent since Monday, posting its best week since October 2015.
HSBC will be in focus on Monday after Europe’s biggest bank reported a 2015 pretax profit below market expectations, sending its Hong Kong-listed stock in the red.
HSBC said it saw a ‘bumpier’ financial environment ahead after delivering flat 2015 profit growth against a bleak backdrop of slowing growth in China and tumbling commodities prices. The company reported pretax profit of $18.87 billion for the year, below analyst consensus.
BMW plans to launch a new 7-series model to compete with the Mercedes S-class, Handelsblatt newspaper reports, citing sources close to the company.
Electric batteries have won a slight edge over hydrogen fuel cells in their quest for future dominance in the car industry, Daimler Chief Executive Dieter Zetsche told a German weekly.
Chief Financial Officer Michael Sen warned there was no guarantee its dividend policy would continue, given all-time low wholesale electricity prices, the drop in the oil price and uncertainty about who will pay for Germany’s nuclear exit.
U.S. authorities have asked the German carmaker Volkswagen to produce electric vehicles in the United States as a way of making up for its rigging of emission tests, the German newspaper Welt am Sonntag reported.
Separately, Welt am Sonntag reported that Volkswagen may have to set aside up to 400 million euros in provisions to cover a recall of vehicles in the United States equipped with Takata air bags.
The retailer elected Juergen Steinemann to become its supervisory board chairman. Metro goes ex-dividend by 1 eur/shr.
The company expects both sales and pre-tax profit to grow by at least 5 pct this year, CEO Thomas Olemotz told Euro am Sonntag in an interview, adding higher growth rates were possible.
The company has a war chest of about 1 bln eur ($1.11 bln) for takeovers but is not under pressure to buy, even though it is scanning the market for options, CFO Arnd Zinnhardt told Boersen-Zeitung in an interview.
The French drugmaker said the U.S. Food and Drug Administration had accepted its application for the use of insulin and its lixisenatide drug in combination for the treatment of adults with Type 2 diabetes.
The French media group has increased its stake in Telecom Italia to 22.8 percent, a regulatory filing showed, further strengthening its position as the top shareholder in the Italian phone group.
Vivendi’s offer for a majority stake in Mediaset’s pay TV unit Mediaset Premium has been on the Italian broadcaster’s table for several days but the issue of price is blocking an agreement, Il Corriere della Sera said on Saturday.
Repsol discovered 4 trillion cubic feet (tcf) of possible natural gas reserves in Bolivia that it will start tapping in 2019, the government and company said Friday - a finding that could boost the Andean country’s reserves by 40 percent.
The biggest Swiss bank hired Michael O‘Donovan as a managing director in its Americas equity capital markets group and Adam Schwarzschild as an executive director in its financial sponsors group, according to an internal memo seen by Reuters on Friday.
For more click
Swiss newspapers reported over the weekend that ChemChina, which is seeking to buy the Swiss chemical maker for $43 billion, might not have to pay a penalty if the Committee on Foreign Investment in the United States were to block the transaction.
For more on Syngenta click
The head of the Nespresso maker’s Asian business is hoping to restore revenue in India within three years to levels preceding the recall of its Maggi instant noodles from the market last year over a health scare, newspaper Schweiz am Sonntag reported.
For more click
Chief Executive Officer Anton Affentranger will remain at the construction company for two years, he told a Swiss newspaper.
For more click
The banks guaranteeing the oil contractor’s capital increase will buy 1.179 billion unsold shares for a total of 427 million euros.
The oil and gas group said on Sunday it had completed the authorisation process for Egypt’s Zohr gas field.
The lender said on Saturday a court had thrown out a claim by nine shareholders to have the shareholder meeting decision taken in 2013 appointing the bank’s current supervisory board annulled.
> Asia shares edge ahead with oil, pound slips > Wall St ends flat, indexes post best week of 2016 > Tokyo’s Nikkei share average closes up 0.90 pct > Short-dated U.S. yields climb on inflation data > Sterling hit by ‘Brexit’ worries after London Mayor joins “out” camp > Gold dips as dollar, stocks strengthen; but holds above $1,200 > London copper rises to two-week high as China mood picks up > Oil prices rise on lower U.S. rig count, but glut weighs (Reporting by Danilo Masoni)