Yahoo Finance What you need to know before the open
A higher open’s expected for European markets this morning, following the strong results from Apple and Facebook and despite yesterday’s negative finish.
Germany’s latest IFO business survey is expected to be slightly weaker for April, although the positive manufacturing data seen yesterday could also mean a stronger-than-expected surprise.
That said, ongoing weakness in China and the situation in Ukraine will likely still dampen sentiment.
Corporate news
Unilever’s said sales growth slowed at the beginning of 2014, with revenues dropping six per cent to €11.4bn. Slowing demand in emerging markets and unfavourable currency movements have affected the firm, though it said it’s sticking to its strategy.
Astrazeneca has reported profit before tax fell 50 per cent to £638m in the first quarter of 2014, from £1.3bn a year earlier, as it felt the impact of losses of exclusivity on products. It leaves its full-year guidance unchanged.
Heineken’s organic sales climbed 3.4 per cent in the first quarter, with group revenues taking 2.6 per cent hit to 4.0bn from currency movements and its Finnish divestment. Beer sales grew 1.3 per cent.
Miner Anglo American’s slashed its platinum forecast to 2.1m ounces (from 2.3m to 2.4m) after reporting a 39 per cent drop in the first quarter when it came to the amount it produced. Industrial action could mean more cuts, it said.
Novartis has reported first quarter net income of $3bn - up 22 per cent from a year earlier. The pharma firm is buying GlaxoSmithKline’s oncology business for as much as $16bn, it was announced on Tuesday.
And Lloyds Banking Group has announced the appointment of Nick Prettejohn, former chief executive of Lloyd’s of London, as chairman of Scottish Widows Group.
Data in focus
7.45am: France April business climate
9.00am: Germany April IFO business survey
11.00am: UK April CBI distributive trades survey
1.30pm: US March durable goods orders
1.30pm: US jobless claims
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