European Factors to Watch-Equity futures point to steady open

  • Reuters
  • Stock Market News
European Factors to Watch-Equity futures point to steady open
Credit: © Reuters.

(Adds futures prices, company news items)

LONDON, Jan 27 (Reuters) - European equity futures were steady on Wednesday, while technology stocks could be in focus after Apple AAPL.O forecast its first revenue drop in 13 years.

Futures on the Euro STOXX 50 STXEc1 , Germany's DAX FDXc1 , France's CAC FCEc1 and Britain's FTSE FFIc1 were flat to up by 0.1 percent.

Apple Inc predicted its first revenue drop in 13 years and reported the slowest-ever increase in iPhone shipments as the critical Chinese market showed signs of weakening, suggesting the technology company's period of exponential growth may be ending. update from Apple could impact European chipmaker stocks such as ARM ARM.L , Dialog DLGS.DE and ASML ASML.AS , which typically provide components used in iPhones.

The pan-European FTSEurofirst 300 index .FTEU3 rose 0.9 percent on Tuesday, helped by a rebound in oil prices although crude oil futures prices fell back again on Wednesday. O/R

COMPANY NEWS:

APPLE AAPL.O :

Apple Inc AAPL.O forecast its first revenue drop in 13 years and reported the slowest-ever increase in iPhone shipments as the critical Chinese market showed signs of weakening, suggesting the technology company's period of exponential growth may be ending. SECTOR:

EU regulators will propose a shake-up of rules on authorising new models of cars on Wednesday to prevent a re-run of the Volkswagen VOWG_p.DE emissions scandal, firing the starting gun on a tough debate as governments and industry resist change. BASFn.DE :

German chemicals company BASF BASFn.DE said 2015 earnings were set to be lower than expected after taking impairments in its oil and gas division due to the sharp fall in oil price. ERICb.ST :

Swedish mobile telecom equipment maker Ericsson (ST: ERICAs ) ERICb.ST posted fourth-quarter operating profit above market expectations on Wednesday and said business in China had recovered. GASI.MI /ZURICH INSURANCE ZURN.VX :

Zurich Insurance ZURN.VX has poached Generali GASI.MI chief executive Mario Greco in a move the Swiss insurer hopes will revive its fortunes and which leaves its Italian rival searching for a worthy successor. BANKS:

The European Commission and Italy reached an accord on Tuesday on a scheme to help Italian banks sell some of their 200 billion euros ($217.04 billion) of bad loans, ending almost a year of often-tense negotiations. NDA.ST :

Nordea NDA.ST , the Nordic region's biggest bank by market value, reported underlying profit below expectations in the fourth quarter on Wednesday and raised its dividend less than analysts expected. NOVN.VX :

Novartis 's fourth-quarter core net income missed analyst expectations amid a slump at its Alcon eye care unit, prompting the Swiss drugmaker to replace the divion's head amid a restructuring that will cost $1.4 billion over five years. SAN.MC :

Santander SAN.MC , the euro zone's biggest bank, on Wednesday posted an 0.3 percent rise in fourth-quarter net profit from a year earlier, helped by better than expected lending income. STM.PA :

Franco-Italian chipmaker STMicroelectronics STM.PA on Wednesday said it would cut about 1,400 jobs worldwide as part of a global restructuring plan affecting its set-top box activity. > GLOBAL MARKETS-Asian stocks struggle as oil falters, China weakens MKTS/GLOB

> US STOCKS-Oil fuels 'schizophrenic' rebound on Wall Street .N

> Nikkei rebounds to 1 1/2 week high on Wall St gains .T

> TREASURIES-Bond prices rise on dovish Fed concerns, recovering oil US/N

> FOREX-Dollar awaits Fed outcome, Aussie firmer after inflation data FRX/

> PRECIOUS-Gold near 12-week high as dollar slips ahead of Fed statement GOL/

> METALS-London copper slips as traders eye Fed; China imports support MET/L

> Oil falls around 2 pct as profit-taking kicks in O/R

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