European Factors to Watch-Equity futures fall after China devalues yuan

  • Reuters
  • Stock Market News
European Factors to Watch-Equity futures fall after China devalues yuan
Credit: © Reuters.

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LONDON, Aug 11 (Reuters) - European equity futures fell on Tuesday, tracking a pullback in Asian stock markets after China devalued the yuan following a run of poor economic data.

Futures for the Euro STOXX 50 STXEc1 , Germany's DAX FDXc1 , France's CAC FCEc1 and Britain's FTSE 100 FFIc1 all fell by 0.4 percent.

China's devaluation of the yuan put pressure on oil and metal prices, which in turn could impact European oil and mining stocks.

European technology stocks could also come into focus after shares of Google GOOGL.O rose in after-market trading in New York.

Google shares climbed 4.8 percent after the bell, after it announced it is changing its operating structure by setting up a new company called Alphabet Inc, which will include the search business and a number of other units.

The Greek stock market could also get a boost after Greece and international creditors agreed on a new multi billion euro bailout deal on Tuesday, a finance ministry official said.



Adecco boosted second-quarter net profit 22 percent to 177 million euros ($194.4 million), the world's biggest staffing group said on Tuesday, slightly lagging market expectations.


A strike on Monday paralyzed work at a General Motors (NYSE: GM ) GM.N plant in Brazil and the union at a nearby Daimler DAIGn.DE truck factory threatened to strike over job cuts as labor tensions boiled over in a slumping market.


A U.S. appeals court on Monday said the Federal Deposit Insurance Corporation could sue lenders including Deutsche Bank for making false statements in selling $840 million in mortgage bonds to a failed Texas bank.


Royal Imtech , the troubled Dutch engineering services company, has filed for and been granted protection from creditors by a Dutch court, it said on Tuesday.


The French tyremaker's U.S brand BFGoodrich said it was recalling approximately 129,000 tyres sold in the U.S., Canada and Mexico, mainly for use on commercial vehicles.


CVS Health Corp (NYSE: CVS ), the No 2 manager of drug benefit plans for U.S. employers and insurers, will wait until a second new cholesterol-lowering drug is approved by regulators before negotiating for price discounts or adding either of the much pricer new drugs to its list of covered medications.


The defence group said it had won a contract from the U.S. Air Force to provide Deployable Instrument Landing Systems - mobile equipment that helps aircraft to land in low visibility.


The television broadcaster suffered a 3.2 percent drop in viewers in July compared with a year earlier and a 0.9 percent fall versus June. Year ago figures were boosted by World Cup football audiences.

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