(Adds futures prices, company news)
LONDON, April 28 (Reuters) - European shares headed for a weaker start on Tuesday following some caution before the Federal Reserve's two-day policy meeting, with weaker commodity prices seen putting pressure on mining and energy stocks.
The U.S. Federal Open Market Committee will begin its meeting later in the day. Analysts expect recent soft U.S. economic data will nudge the Fed towards a dovish stance over its monetary policy.
At 0611 GMT, futures for the Euro STOXX 50 STXEc1 , Germany's DAX FDXc1 , France's CAC FCEc1 and Britain's FTSE FFIc1 fell 0.2 to 0.5 percent.
Commodity stocks could see a selling pressure and prices of key industrial metals CMCU3 CMAL3 CMNI3 fell as much as 1 percent, while oil fell more than 1 percent ahead of weekly U.S. crude inventory data that is expected to hit another high.
Investors will continue to keep a close eye on developments in Greece, which has been a key source of market volatility in the past weeks. Greek Prime Minister Alexis Tsipras on Monday reshuffled his team handling talks with European and IMF lenders, a move widely seen as an effort to relegate embattled Finance Minister Yanis Varoufakis to a less active role in negotiations. ID:nL8N0XO21F
"There are some interesting developments in Greece ... Varoufakis was seen by some as being part of the problem and as a result news of him being sidelined has been well received," IG said in a morning note.
Technology stocks will be in focus after Apple AAPL.O beat Wall Street's revenue and profit forecasts on Monday as it sold more iPhones in China than the United States for the first time. Its shares rose 1.6 percent in after-hours trading. ID:nL4N0XO6CU
COMPANY NEWS
COMMERZBANK CBKG.DE
Commerzbank on Monday launched a surprise capital increase, seeking to raise 1.4 billion euros ($1.5 billion) to improve its regulatory strength measures in response to investor concerns after the bank paid a heavy fine in March. ID:nL8N0XO4E1
A source familiar with the matter told Reuters that the books were covered late on Monday. ID:nWNAB06OUZ
DEUTSCHE BANK CBKG.DE
A radical plan for Deutsche Bank (XETRA:DBKGn) to become a pure investment bank and corporate lender was dropped after stress tests demanded by the European Central Bank concluded the model would not withstand a severe financial crisis, sources said. ID:nL8N0XO35T
Separately, co-CEO Juergen Fitschen will stand trial on Tuesday in Munich over allegations that he and other former executives worked to precipitate the collapse of the media empire in order to generate bountiful advisory fees to restructure the group. ID:nL8N0XO26Z
PHILIPS PHG.AS
Tthe lighting, consumer and healthcare products company said on Tuesday its comparable sales rose 2 percent to 5.3 billion euros ($5.76 billion) in the first quarter. ID:nL8N0XP0EQ
DAIMLER DAIGn.DE
German automaker Daimler said on Tuesday first-quarter operating profit surged 41 percent on effects of new model launches and record sales of Mercedes-Benz luxury cars. ID:nFWN0XG011
GDF SUEZ GSZ.PA
The French gas and power group posted a 10 percent drop in first-quarter core earnings due to lower gas prices and the outage of two Belgian nuclear plants but left its 2015 forecasts unchanged. ID:nL8N0XO4IE
SANTANDER SAN.MC
Santander reported net profit rose 32 percent in the first quarter from a year earlier to 1.717 bln euros, in line with forecasts. ID:nS8N0UR02H
TNT EXPRESS TNTE.AS
Dutch logistics group TNT Express reported a first-quarter operating loss and lower comparable revenues and said the coming year would be difficult as it prepares to be taken over in 2016 by larger American rival FedEx (NYSE:FDX) FDX.N . ID:nL8N0XP0GR
CELESIO CLSGn.DE
The German drugs distributor said on Monday it would put its businesses in Brazil up for sale to allow it to focus on Europe. ID:nL8N0XO4K9
DRILLISCH DRIG.DE , UNITED INTERNET UTDI.DE
United Internet said it agreed to buy 9.1 percent of shares in Drillisch , which will raise its holding in the mobile telephone company to 20.7 percent. It said it had no plans to further increase its stake above 30 percent. ID:nWNAB06OVA
VILMORIN VILM.PA
The French seed group cut its full-year sales and margin targets, blaming a financial crisis in Russia and Ukraine that has dented spending by farmers. ID:nL8N0XO47T ID:nHUG2GxrGt
KERING PRTP.PA
The luxury group said Pierre Bouissou was stepping down as Boucheron president and chief executive. Albert Bensoussan, CEO of Kering 's luxury watches and jewellery division, will take over responsibility for the brand until a successor. ID:nBw3k147qa
GAMESA GAM.MC
Gamesa said on Tuesday it has signed an agreement in India to build turn-key wind farms with capacity of 50 megawatts (MW) and 108 MW and supply turbines with a capacity of 36 MW to four other plants throughout the country. ID:nS8N0WQ01A
Telefonica Brasil SA said on Monday its board had approved a share offering priced at 47 reais ($16.12) for preferred shares and 38.47 reais for commons shares, as the company raises funds to buy broadband provider GVT. ID:nE5N0W001P
REPSOL REP.MC
Repsol said on Monday it has reached a deal with Mexico's Kuo KUOB.MX to expand a joint venture Dynasol with estimated revenues of $750 million. ID:nL8N0XO4BA
AREVA AREVA.PA
The next generation of nuclear reactors being developed in countries such as France, Russia, China and Japan may not be safer than those being built today, French nuclear safety watchdog IRSN said. ID:nL8N0XO3T0
SAIPEM SPMI.MI
Italian oil services group Saipem on Monday reported stronger than expected first-quarter operating profit thanks to healthier profit margins from new orders. ID:nL8N0XO2NF
BOLLORE BOLL.PA
A consortium led by France's Bollore failed to make the final shortlist of firms vying to manage a new container terminal in Cameroon's southern port of Kribi, according to a commission report seen by Reuters. ID:nL8N0XO4F1
AIRBUS AIR.PA
Poland is planning to choose a supplier of 30 attack helicopters by the end of this year, Deputy Defence Minister Czeslaw Mroczek said. ID:nL8N0XO46E
PSA PEUGEOT CITROEN PEUP.PA
The carmaker plans to sign a contract before the summer to extend its diesel engine partnership with Ford F.N , French newspaper Les Echos reported, citing an internal source at Peugeot . ID:nL8N0XO4V5
U.S. COMPANIES REPORTING RESF/US :
Q1 2015 Bristol-Myers Squibb Co
Q1 2015 Boston Scientific Corp
Q1 2015 Cummins Inc
Q1 2015 Ford Motor Co
F
Q1 2015 Kraft Foods Group Inc
Q1 2015 McGraw Hill Financial Inc
Q1 2015 Merck (NSE:MERK) & Co Inc
Q1 2015 Pfizer Inc
Q1 2015 United Parcel Service, Inc.
Q3 2015 Western Digital Corp
Q1 2015 Whirlpool Corp
MAJOR MACROECONOMIC DATA/EVENTS (GMT) ECON :
FR Consumer Confidence
GB GDP Prelim
US redbook
US CaseShiller
US COnsumer Confidence
------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0508 GMT:
LAST PCT CHG
NET CHG
S&P 500
2,108.92 -0.41 %
-8.77
NIKKEI
20068.64
0.43 %
85.32
MSCI ASIA EX-JP
521.69 -0.41 %
-2.14
EUR=
1.0871 -0.14 %
-0.0015
JPY=
119.09
0.05 %
0.0600
10-YR US TSY YLD US10YT=RR
1.924
--
0.00
10-YR BUND YLD
EU10YT=RR
0.164
--
0.00
SPOT GOLD
$1,199.85 -0.14 %
-$1.70
US CRUDE
CLc1
$56.24 -1.32 %
-0.75
> Asian shares edge off 7-year highs as Fed awaited MKTS/GLOB
> Wall St ends down as biotechs drop 4 pct; Apple up late .N
> Nikkei rises on dividend optimism, Fanuc soars .T
> U.S. bonds prices flat; weak bid at 2-year sale US/N
> Euro holds gains after rising on Greek hopes, dollar awaits data FRX/
> Gold clings on near $1,200 ahead of Fed meeting GOL/
> London copper edges up, underpinned by Chinese stimulus hopes MET/L
> Oil falls more than 1 pct as U.S. crude stockpiles expected to hit high O/R