(Adds more company news, futures; updates bookmaker calls)
LONDON, July 26 (Reuters) - European shares are set to open higher on
Thursday after two days of losses with investors seeking to put credit market
worries aside and focus on a corporate results deluge, and as oil stays above
$76 a barrel.
Oils group Royal Dutch Shell (RDSa.L), engineer ABB (ABBN.VX) and drugs
company AstraZeneca (AZN.L) are just three of a long list of heavyweights
reporting.
Spread betters in London expect the FTSE 100 index .FTSE to open 30 to 36
points higher, the CAC 40 .FCHI up 35 to 50 points .FCHI and the DAX
.GDAXI up 50 to 67 points.
Matt Buckland, a trader at CMC Markets, said that he expected that the
momentum from a late rally in the United States would be carried across into
European markets.
Futures for the DAX and the CAC were trading 0.3 to 0.45 percent higher.
----------------------MARKET SNAPSHOT AT 0628 GMT----------------------
LAST PCT CHG NET CHG
S&P 500 .SPX 1,518.09 0.47 % 7.05
NIKKEI .N225 17,702.09 -0.88 % -156.33
MSCI ASIA EX-JP .MIASJ0000PUS 572.04 -0.92 % -5.32
EUR/USD EUR= 1.3708 -0.12 % -0.0016
USD/JPY JPY= 120.44 0.00 % 0.0000
10-YR US TSY YLD US10YT=RR 4.915 -- 0.01
10-YR BUND YLD EU10YT=RR 4.408 -- 0.00
SPOT GOLD XAU= $675.70 0.12 % $0.80
BRENT CRUDE LCOc1 $76.37 0.04 % $0.1
-------------------------------------------------------------------------
* US STOCKS-Indexes gain on profits, energy; Apple up [ID:nL26469112]
* Nikkei ends at lowest in 2 months [ID:nT262226]
* GLOBAL-Dollar clings to gains, oil extends rebound [ID:nL26180666]
* Dollar steady, stays off record low vs euro [ID:nT330132]
* Treasuries barely changed as profits boost stocks [ID:nL26188120]
* Gold off 1-week low, Tokyo futures extends losses [ID:nT266566]
* Oil climbs above $76 on mixed US inventory; outage [ID:nT147209]
------------------------------------------------------------------------
COMPANY NEWS
ROYAL DUTCH SHELL (RDSa.L)
Royal Dutch Shell Plc posted a 20 percent rise in second quarter current
cost of supply (CCS) profit to $7.556 billion, as fat refining margins helped
outweigh lower production. Shell said in a statement that the CCS result, which
strips out changes in the value of inventories, included a non-operating gain of
$660 million.
Excluding this gain, the underlying result was up 5 percent at $6.896
billion,compared to an average forecast of $6.770 billion from a Reuters poll of
10 analysts.
For more please double click on [ID:nWEB5234] or [RDSa.L-E-RES]
ABB (ABBN.VX)
The Swiss-based engineering giant doubled second-quarter net income to $729
million, beating forecasts, as the group benefited from strong demand across all
units in an all regions.
ABB, which sells equipment to utility oil and gas firms, said sales rose 27
percent to $7.143 billion, with orders rising 26 percent to $8.666 billion.
For more please double click on [ID:nZAT006699] or [E-ABBN.VX-RES]
EADS (EAD.PA)
The European aerospace and defence group reported a drop in first-half
operating profit due to restructuring costs and charges at its Airbus and
Eurocopter units. Earnings before interest and tax (EBIT) fell to 367 million
euros ($506.8 million) from 1.65 billion in the year-earlier period. In a
Reuters poll, analysts had on average forecast a first-half EBIT of 170 million
euros.
For more double click on [ID:nWEB5219] or [EAD.PA-RES-E]
BRITISH AMERICAN TOBACCO (BATS.L)
British American Tobacco Plc (BATS.L) beat forecasts with a 9 percent rise
in first-half earnings but said profit growth would slow in the second-half due
to excise tax rises and increased investment. [ID:nWLB9452]
UCB (UCB.BR)
Belgian drugmaker UCB (UCB.BR) reported a 13 percent drop in first-half
recurring operating profit on Thursday in its first consolidated figures since
its purchase of German peer Schwarz Pharma SRZG.DE. Recurring earnings before
interest and tax (REBIT) came in at 312 million euros ($430.9 million), against
the average forecast of 256 million euros from a Reuters poll of 16 analysts.
For more please double click on [ID:nBRE001052]
ENI (ENI.MI)
The Italian oil and gas company Eni posted an 11 percent drop in
second-quarter adjusted net profit, hit by a stronger euro and mild weather that
cut into gas sales, but still beat analysts' forecasts.
Eni, Europe's fourth-biggest energy company by market value, had adjusted
net profit of 2.22 billion euros ($3.07 billion), down from 2.48 billion euros
in the same period last year. [ID:nL26175076]
DSM (DSMN.AS)
The Dutch chemical company said second-quarter core profit fell 3 percent on
currency exchange rates. Earnings before interest and taxes (EBIT) from
continuing operations came in at 227 million euros ($313.5 million), compared
with an average of 201 million in a Reuters poll of 10 analysts.
The company raised its 2007 outlook for its EBIT from continuing operations,
excluding exceptional items, to about 790 million euros from an earlier 760
million euros. [ID:nWEB5239]
ROLLS-ROYCE (RR.L)
The British engine maker posted a 17-percent rise in underlying profit
before tax. Underlying profit rose to 380 million pounds ($782.7 million) for
the six months to June 30, Rolls said in a statement to the London Stock
Exchange. [ID:nWLB9467]
LUFTHANSA (LHAG.DE)
The German airline bumped up its 2007 outlook to see operating profit well
above 1 billion euros ($1.4 billion) this year after posting a 64 percent rise
in first-half profit. The airline's operating profit of 486 million euros in the
first six months of the year beat the average forecast of 468 million in a
Reuters poll of 15 analysts. [ID:nL25202331]
SYNGENTA (SYNN.VX)
The Swiss agrochemicals company raised its full-year forecast as strong crop
protection sales in Europe and Latin America boosted first-half net profit. It
was increasing its target for 2007 to mid-teens growth in earnings per share.
For more please double click on [ID:nZAT006701] or [E-SYNN.VX-RES]
LONZA (LONN.VX)
First-half net profit at the Swiss pharmaceutical industry supplier Lonza
rose 83 percent to 146 million Swiss francs ($121.3 million) due to strong sales
of biopharmaceuticals, beating forecasts.
Lonza said on Thursday its 2007 performance would exceed guidance and
confirmed its forecast of sales growth of 8 to 12 percent per year and operating
profit growth in the mid to high teens. [ID:nZAT006700] or [E-LONN.VX-RES]
PUBLICIS (PUBP.PA)
The French advertising group said that operating profit rose 4 percent in
the first-half of 2007 but slightly lowered its underlying sales growth forecast
for the year. [ID:nWEB5228].
GLAXOSMITHKLINE (GSK.L)
Moody's Investors Service downgraded GlaxoSmithKline (GSK)'s long term
senior unsecured ratings to A1 from Aa2 on Wednesday, affirmed the short term
rating at Prime-1 and changed the outlook to negative from stable. See
ID:[nWNA5239]
RENAULT (RENA.PA)
The carmaker beat expectations with a first-half operating margin of 3.5
percent on Wednesday but raised its estimate of the future impact of high raw
material costs. The margin result beat the consenus forecast of 3 percent and
echoed forecast-beating results from domestic rival PSA Peugeot Citroen
(PEUP.PA). [ID:nL25900711] for more.
J SAINSBURY (SBRY.L)
Delta Two is facing the likelihood of having to increase its price for the
retailer as it emerged that Robert Tchenguiz was not prepared to accept its
600p-a-share indicative offer, the Financial Times reported.
ROCHE (ROG.VX)
The Swiss drugmaker said that the European Commission had approved its drug
Mircera to treat anaemia associated with chronic kidney disease. [ID:nWEB5232]
