European Factors to Watch-Shares seen extending rally, focus on earnings

  • Reuters
  • Stock Market News
European Factors to Watch-Shares seen extending rally, focus on earnings
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LONDON, Feb 26 (Reuters) - European shares were expected to extend the previous session's rally on Friday, tracking gains on Wall Street and in Asia, with stronger metals prices and some positive company earnings seen supporting the market.

Futures for the Euro STOXX 50 STXEc1 , Germany's DAX FDXc1 , France's CAC FCEc1 and Britain's FTSE FFIc1 were up by 0.9 to 1.3 percent.

The pan-European FTSEurofirst 300 index .FTEU3 ended up 2 percent at 1,284.58 points in the previous session.

Investors will keep a close eye on earnings reports for hints about the market's direction in the near term. Among major results, state-backed Royal Bank of Scotland RBS.L reported its eighth straight full-year loss of 1.97 billion pounds ($2.75 billion). ID:nL9N16100J

COMPANY NEWS

ROYAL BANK OF SCOTLAND RBS.L

State-backed bank on Friday reported its eighth straight full-year loss of 1.97 billion pounds ($2.75 billion). However, the loss was 43 percent smaller than the bank's loss of 3.47 billion pounds for the previous year. ID:nL9N16100J

TELEFONICA TEF.MC

Spanish telecoms group Telefonica on Friday posted a 17.2 percent fall in full-year core profits to 11.41 billion euros ($12.61 billion), hit by one-off charges totalling 3.5 billion euros, and missing analysts' forecast. ID:nE8N15G01A

AREVA AREVA.PA

The French state-controlled nuclear group reported a 2 billion euro 2015 net loss, saying half was due to additional provisions for its Finland reactor project and the rest to restructuring and impairments related to market conditions. ID:nFWN16103B

BASF BASFn.DE

BASF, the world's largest chemical company by sales, warned investors that operating income would decline this year as the lower crude price weighs on its oil and gas division and demand for chemicals is weak in China. VOWG_p.DE

A lawyer for Volkswagen told a U.S. judge on Thursday the automaker is making progress in senior level settlement talks with the Justice Department, Environmental Protection Agency and California to reach a resolution over excess emissions in nearly 600,000 diesel vehicles. carmaker's top committee has hired a German law firm to advise it on the liabilities the carmaker could face as a result of its cheating of diesel emissions tests. GOBAIN SGOB.PA

The French building materials group said it expected earnings to improve further this year despite a volatile economic outlook. GROUP ERST.VI

Austrian lender Erste Group reported a better than expected fourth-quarter net profit on Friday thanks to a reduction in non-performing loans and increased lending and proposed a dividend payout at the higher end of its forecast. UBSG.VX

The bank agreed to pay $33 million to resolve a U.S. regulator's claims that it sold toxic mortgage-backed securities to credit unions that later failed, according to court papers filed on Thursday. AIRLINES GROUP ICAG.L

British Airways-owner International Airlines Group reported a 65 percent rise in annual profit, at the top end of guidance, and said profit would grow by a similar 910 million euros this year, helped by the lower oil price. ID:nL8N16518X

ENI ENI.MI

Italian oil major Eni said it would cut capital spending this year by 20 percent after it posted a net loss in the fourth quarter due to the sharp fall in oil prices. ID:nL8N1650R5

PEARSON PSON.L

The British education company struggling to find a strategy to cope with tough end-markets reported operating profit of 723 million pounds ($1.01 billion) for 2015, 2 percent down on the year before. ID:nFWN16409O

BHP BILLITON BLT.L

The miner said on Friday that no agreement has been reached yet with Brazilian authorities to fund clean up and damages for a dam burst that killed at least 17 people in that country's worst environmental disaster. SYNN.VX

A US$20bn non-recourse loan that forms part of the financing backing China National Chemical Corp's SFr43bn (US$43.45bn) acquisition of Swiss seeds and pesticides company Syngenta launched into syndication on Thursday, banking sources said. CBKG.DE

Germany's shipping lenders are preparing for sustained pain as weakening trade and an over-supply of ships show no signs of easing, industry officials said. BANK DBKGn.DE

Germany's financial watchdog will take no further action against the lender over alleged interest rate rigging and precious metals price fixing, the country's biggest bank said on Thursday. RWEG.DE

Court hearing due in RWE's suit against a consortium involved in the building of German lignite plant Grevenbroich-Neurath, demanding about 1.3 billion euros ($1.42 billion) for "culpable breach of duty". HAVA.PA

The French ad agency said it expected it expected revenue growth to at least match or better the 2-3 percent growth expected for the broader market. IETB.BR

The Belgian car importer forecast a stable to slightly lower pre-tax profit for 2016 after performing ahead of expectations in 2015 and increasing its dividend. EUCAR.PA

The French car hire company said it was sticking to earning guidance given at the time of its IPO and planned to pay a didvidend from 2017 with a payout ratio of 30 percent. RHKG.DE

Rhoen-Klinikum said it expected its earnings before interest, tax, depreciation and amortisation (EBITDA) to rise to 155-165 million euros this year, from 154.2 million in 2015. ACS.MC

Spanish builder ACS said on Thursday full-year net profit for 2015 was 725 million euros versus 740 million euros in a Reuters poll of analysts. FER.MC

Spanish infrastructure company Ferrovial on Thursday reported full-year net profit of 720 million euros, up 79 percent on the previous year. GAM.MC

Spanish wind turbine maker Gamesa said on Thursday it expects recurring core profit of 400 million euros in 2016, with a margin of more than 9 percent versus 8.4 percent in 2015.

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