NEXTīritain’s second-largest clothing retailer edged-up its annual sales and profit forecasts after beating its own guidance for first half sales growth. ITVīritish broadcaster ITV said it expected its net advertising revenue to improve slightly in the second-half, helped by the Rugby World Cup. Germany’s MAN lowered its full-year guidance for group profit and sales after posting a second-quarter loss on restructuring costs and plunging trucks demand in Brazil. MELROSE INDUSTRIESĮngineering turnaround specialist Melrose Industries said it would sell its Elster business to Honeywell International Inc for 3.3 billion pounds ($5.14 billion) in cash. specialty generic drugs business for about $2.65 billion in cash and stock to bolster its presence in the United States. The company said it would buy German drugmaker Boehringer Ingelheim’s U.S. authorities over the 2010 Gulf of Mexico spill. The oil major reported a second-quarter profit of $1.3 billion, missing analysts’ expectations, after taking a $9.8 billion pre-tax charge related to a settlement with U.S. Zurich Insurance said on Tuesday it is weighing up a bid for RSA Insurance Group, a British insurer with a market capitalization of 4.4 billion pounds ($6.85 billion). Federal Reserve meeting beginning later in the day, with some investors expecting that the central bank will make its case for hiking rates as early as September. Shanghai stocks fell further on Tuesday even as Beijing pledged to lend further support after stocks sank 8 percent in the previous session, raising concerns about stability in the world’s second-biggest economy. The FTSEurofirst 300 index ended 2.2 percent lower at 1,529.77 points. Norwegian oil major Statoil posted second-quarter adjusted operating profit better than forecasts and maintained its quarterly dividend, while French tyre maker Michelin announced solid gains in first-half sales and profit.Įuropean equities dropped to a two-week low on Monday, recording their fifth straight daily decline, as fears for China’s growth prospects overshadowed some forecast-beating results. Zurich Insurance said it was weighing up a bid for RSA Insurance Group, a British insurer with a market capitalization of 4.4 billion pounds ($6.85 billion). LONDON, July 28 (Reuters) - European equities headed for a higher open on Tuesday after falling in the previous five sessions, with some strong company results and mergers and acquisitions news seen supporting the market.įutures for the Euro STOXX 50, Germany’s DAX, France’s CAC and Britain’s FTSE were 0.4 to 0.7 percent higher at 0641 GMT. (Updates futures prices, adds company news)
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