LIVE MARKETS-Futures indicate hesitant recovery for European stocks

* European stocks to recover slightly

* Siemens (BSE: SIEMENS.BO - news) , ArcelorMittal (LSE: 0NSF.L - news) , banks report

* Infineon (Xetra: 623100 - news) slashes guidance as weak dollar weighs

* Asian stocks pulled back further as rising yields bite

Jan 31 (Reuters) - Welcome to the home for real time coverage of European equity markets

brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on

Messenger to share your thoughts on market moves: helen.reid.thomsonreuters.com@reuters.net

FUTURES INDICATE HESITANT RECOVERY FOR EUROPEAN STOCKS (0708 GMT)

Stock futures have opened up 0.1 percent across the major European benchmarks, suggesting a

rather hesitant recovery from yesterday's sharp falls.

While the STOXX, DAX and CAC40 are set to rise, ending January on a positive note, the FTSE

100 is on track to fall further with futures down 0.2 percent. A rising pound could be piling

extra pressure onto the British index.

(Helen Reid)

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WEAK DOLLAR WOES FOR INFINEON (0657 GMT)

In an early sign the weak dollar could be a strain on some European companies, particularly

those reliant on exports, chipmaker Infineon just cut its 2017/18 revenue guidance,

blaming the greenback's weakness.

The stock is indicated down 1.9 percent in pre-market trade.

(Helen Reid)

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RESULTS WATCH: SIEMENS STRUGGLES, ARCELORMITTAL RESUMES DIVIDENDS (0641 GMT)

Results are rolling in thick and fast today from industrials as well as several banks.

German engineering group Siemens reports a fall in quarterly industrial profit

due to continued weak demand from the power and gas sector. Profit was in line with analysts'

forecasts, but profit margin shrank.

Interestingly the group says it got a net 437 million euro benefit from U.S. tax reforms in

the first quarter.

The world's largest producer of steel, ArcelorMittal, was more upbeat, with profit

ahead of expectations and resuming dividend payments after skipping them for 2015 and 2016. The

$0.10 payout undershoots analysts' expectations of $0.30, though.

A slew of banks reporting today as well, with ING's Q4 profit missing expectations

while Sweden's SEB (LSE: 0MGS.L - news) raises its dividend after strong results. Meanwhile impairments in

its U.S. unit dented Santander's numbers.

The pressure's on for European banks, a leading sector in this year's rally, to deliver

convincing results, so it'll be interesting to see how banking shares react today.

Also in results to watch today, especially considering the tech rally after AMS (IOB: 0QWC.IL - news) results

earlier this week, will be chipmaker Infineon. More on that soon.

(Helen Reid)

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MORNING CALL: EUROPEAN STOCKS TO RECOVER (0619 GMT)

Good morning and welcome to Live Markets.

Looks like European stocks could recover slightly today after suffering their biggest daily

loss since November yesterday in a global risk-averse turn. Only the FTSE is seen edging

slightly further down, having sunk to five-week lows yesterday as miners and banks tumbled.

Overnight Asian stocks lost further ground, falling from their record highs as the global

rise in bond yields weighed on equities. The dollar found some support, however, ahead of the

Federal Reserve's policy decision.

Spreadbetters call the DAX 25 points higher at 13,222.1, the CAC 40 up 8 points at 5,481.7,

and the FTSE down 4 points at 7,584.3.

(Helen Reid)

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(Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus)