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LIVE MARKETS-Results watch: Siemens struggles, ArcelorMittal resumes dividends
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
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 (BSE: SIEMENS.BO - news) 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 (LSE: 0NSF.L - news) , 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 (Xetra: 623100 - news) . More on that soon.
(Helen Reid)
*****
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)
