European Stock Futures Climb; ASML, Daimler Might Move

By Corinne Gretler

European stock futures advanced, after the benchmark Stoxx Europe 600 Index posted three days of losses, as investors awaited a U.K. unemployment report. U.S. index futures slipped, while Asian shares climbed.

ASML Holding NV might move after reporting first-quarter sales that topped analysts’ estimates and announcing a share buyback program. Daimler AG may be active as it plans to sell its remaining stake in Airbus SAS parent European Aeronautic, Defence & Space Co. BHP BillitonPlc may move after the world’s largest mining company said third-quarter iron ore production rose less than expected.

Futures on the Euro Stoxx 50 Index, a benchmark for the euro area, added 0.2 percent to 2,559 at 7:04 a.m. in London. Contracts on the U.K.’s FTSE 100 Index gained 0.3 percent. Contracts on the Standard & Poor’s 500 Index lost 0.2 percent after the measure advanced 1.4 percent yesterday, while the MSCI Asia Pacific Index rose 0.6 percent.

“European (SXXP) equity markets are set to open flat to marginally higher as traders regain some composure after recent falls,” Jonathan Sudaria, a trader at Capital Spreads in London, wrote in a note. “Overnight U.S. markets closed higher recouping a substantial portion of the recent declines on upbeat earnings and housing data. The positive lead from the U.S. has carried over into Asia where indices are showing a venerable attempt at recouping recent losses.”

The Stoxx 600 fell yesterday as German investor confidence declined more than forecast and the International Monetary Fund cut its global growth outlook. The benchmark measure has gained 3 percent this year as American lawmakers agreed on a compromise budget and data on housing and jobs fueled optimism the world’s biggest economy is recovering.

U.K. Economy

A report at 9:30 a.m. London time may show that unemployment was unchanged last month, according to the median forecast of 27 economists in a Bloomberg News survey. The Bank of England will publish minutes of its most recent policy meeting at the same time.

The Federal Reserve releases its Beige Book report at 8 p.m. New York time, which includes a summary and analysis of economic conditions in 12 U.S. districts. Fed Chairman Ben S. Bernanke said April 8 that the economy is “significantly stronger” than it was four years ago. Still, he also said conditions are “far from where we would all like them.”

ASML might move. Europe’s largest semiconductor-equipment supplier posted first-quarter sales of 892 million euros ($1.17 billion), topping the 874 million-euro analyst estimate. The company also announced a share buyback program of as much as 1 billion euros and said Chief Executive Officer Eric Meurice will step down as of July.

Daimler, BHP

Daimler may move as the world’s third-largest maker of luxury cars said it will sell 61.1 million shares in EADS, equal to 7.5 percent of the total. Daimler is selling the shares at 36.5 euros to 37 euros each, according to a term sheet obtained by Bloomberg News, which would value the sale at as much as 2.26 billion euros.

BHP Billiton (BLT) might be active. Output of iron ore, its biggest earner, was 40.2 million metric tons in the three months to March 31, compared with 37.9 million tons a year earlier. That missed the median estimate of 42.3 million tons from five analysts in a Bloomberg survey.

Burberry Group Plc, the U.K.’s biggest luxury-goods producer, might move after reporting fourth-quarter revenue of 503 million pounds ($772 million), exceeding the average 485.1 million-pound analyst projection.

Tesco Plc (TSCO) might be active as the U.K.’s largest grocer reported full-year trading profit of 3.45 billion pounds, in line with the 3.4 billion-pound analyst estimate. The company also said it will pay a final dividend of 10.13 pence.

Bayer AG may move after a U.S. appeals court ruled the company’s patent on the birth control pill Yaz is invalid, ensuring Actavis Inc. and Novartis AG’s Sandoz unit can sell copies of the contraceptive.

To contact the reporter on this story: Corinne Gretler in Zurich at cgretler1@bloomberg.net

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