European Factors to Watch-Shares seen opening higher, focus on earnings
(Adds company news, details)
LONDON, July 21 (Reuters) - European shares were expected to open slightly higher on Tuesday, mirroring gains on Wall Street and in Asia, with investors focusing on company results as the second-quarter earnings season gathers pace in Europe.
German business software maker SAP's SAPG.DE revenues topped expectations due to a surge in cloud software delivered via the Internet, while Europe's biggest biotech company, Actelion ATLN.VX , lifted its core earnings forecast for the year.
Financial spreadbetters predicted Britain's FTSE 100 .FTSE to open 10 to 12 points higher, or up as much as 0.2 percent, Germany's DAX .GDAXI to gain 18 to 23 points, or as much as 0.2 percent, and France's CAC 40 .FCHI to open almost flat on Tuesday.
The FTSEurofirst 300 index .FTEU3 of top European shares closed 0.3 percent higher at 1,613.95 points in the previous session. But gold stocks were hit by a sharp drop in prices of the precious metal.
U.S. stocks ended 0.1 to 0.2 percent higher on Monday, with the tech-heavy Nasdaq Composite recording its third straight record close. In Japan, the Nikkei index .N225 rose 0.9 percent on Tuesday.
German business software maker SAP reported mixed quarterly results on Tuesday as revenues topped expectations due to a surge in newer, lower-margin cloud software delivered via the Internet, pushing down profit to the very low end of hopes.
AKZO NOBEL AKZO.AS
Speciality chemicals and paints maker Akzo Nobel said it was on track to meet its 2015 targets on Tuesday as it posted second-quarter results that were broadly in line due to tight cost control.
Europe's biggest biotech company lifted its core earnings forecast for the year as it made progress in renewing its portfolio of drugs to treat high blood pressure in the lungs.
REMY COINTREAU RCOP.PA
French spirits group Remy Cointreau said like-for-like first-quarter sales fell 9 percent year-on-year, hit by weak demand for premium cognac in China and its exit from the lower-priced VS cognac category in the United States, its top market.
The French telecoms group said it had entered an exclusive agreement with Bharti Airtel BRTI.NS about buying the Indian group's subsidiaries in four African countries.
The French auto parts maker is considering selling its bumpers unit and may get as much as $450 million, according to Bloomberg.
The Dutch grocer said its Stop & Shop division had entered into an agreement with Great Atlantic & Pacific Tea company to acquire 25 A&P stores in greater New York for $146 million.
The French construction and consessions group's APRR toll road operator reported a 2.7 percent increase in revenue in the first half on the back of a 2.2 percent increase in traffic. FOUG.PA
The French glass maker said it had finalised a agreement creating a joint venture in Tanzania with Lodhia Gypsum Industries that is 50 percent owned by Saint-Gobain.
Mexican state oil company Pemex PEMX.UL reached a $295 million settlement with a group including German industrial conglomerate Siemens (NSE: SIEM ) SIEGn.DE in a longstanding dispute over a refinery project, a person familiar with the matter said on Monday.
MTU AERO ENGINES MTXGn.DE
The engine maker's second-quarter adjusted Ebit may jump 30 percent, a Reuters poll of banks and brokerages showed.
The TV broadcaster is in talks to buy a stake in advertising group Scout24 from U.S. private equity firm Hellman & Friedman, Handelsblatt reported on Monday, citing sources in the banking industry.
Europe's largest dedicated online fashion retailer said profitability slowed in the second quarter because of a "temporary rise" in payment costs.
U.S. COMPANIES REPORTING RESF/US :
Q3 2015 Apple
Q2 2015 Yahoo!
Q4 2015 Microsoft
Q2 2015 Bank of New York Mellon
Q2 2015 United Technologies
Q2 2015 Verizon Communications
Q2 2015 Harley-Davidson
MACROECONOMIC DATA/EVENTS (GMT) ECON :
0600 CH Trade
1255 US Redbook ------------------------------------------------------------------------------ > Asian shares edge higher, gold steadies MKTS/GLOB
> Wall Street ends flat as commodities weigh .N
> Nikkei rises to 3-week high on earnings optimism .T
> Yields rise on Bullard comments, expected corporate supply US/N
> Dollar near 5-week peak vs yen on Fed official's hawkish comments FRX/
> Gold steadies after rout, but bearish sentiment intact GOL/
> London copper seen capped as U.S. rate rise view lifts dollar MET/L
> Oil prices slip on stronger dollar, ample supply O/R
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or