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European Stock-Index Futures Little Changed Amid Earnings [Yerepouni Daily News (Armenia)]
[July 24, 2014]

European Stock-Index Futures Little Changed Amid Earnings [Yerepouni Daily News (Armenia)]


(Yerepouni Daily News (Armenia) Via Acquire Media NewsEdge) European stock-index futures were little changed as investors awaited data on the health of the euro-zone economy and weighed earnings from BASF SE and Roche Holding AG. U.S. stock-index futures and Asian shares were also little changed.



BASF SE may move after reporting earnings that missed analysts' estimates while confirming its full-year forecast. Roche may be active after posting a 7 percent drop in first-half profit.

Futures on the Euro Stoxx 50 Index expiring in September fell less than 0.1 percent to 3,191 at 7:15 a.m. in London. Contracts on the U.K.'s FTSE 100 Index were also little changed today. Standard & Poor's 500 Index futures slipped less than 0.1 percent, while the MSCI Asia Pacific Index added less than 0.1 percent.


"European equities are set to edge lower on the open," Jonathan Sudaria, a trader at Capital Spreads in London, wrote in an e-mail. "Despite a positive finish yesterday and a surprisingly strong HSBC PMI out of China overnight, sentiment still remains cautious." A manufacturing gauge in China rose to an 18-month high in July, adding to signs the economy will meet its 2014 growth target of about 7.5 percent. A preliminary purchasing managers' index from HSBC Holdings Plc and Markit Economics came in at 52, compared with the median estimate of 51 by analysts surveyed by Bloomberg News and a final reading of 50.7 in June. Numbers above 50 indicate expansion.

In the euro area, the Markit manufacturing PMI may slip to 51.7 in July from 51.8 in last month, according to the median estimate of economists surveyed by Bloomberg.

Earnings Reports BASF may be active. The world's biggest chemical maker reported a 12 percent increase in earnings before interest, taxes and one-time items to 2.05 billion euros ($2.76 billion) in the second quarter, missing estimates of 2.09 billion euros. The company said it stands by its target of achieving a "slight increase" in profit this year.

Roche may move. The largest maker of cancer drugs said the strength of the Swiss franc offset rising sales of new medicines in the first half. As a result, net income fell to 5.6 billion Swiss francs ($6.3 billion) from 6 billion francs a year earlier, the company said in a statement.

Nokia Oyj may move. The Finnish network-equipment maker that sold its mobile-phone business to Microsoft Corp. posted second-quarter earnings that topped estimates. Earnings, excluding some items, were 6 euro cents a share. Analysts surveyed by Bloomberg had predicted 4.5 cents.

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