European futures mixed, earnings kick into gear
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EUROPEAN FUTURES MIXED, EARNINGS KICK INTO GEAR
Major European equity index futures are mixed on Tuesday as earnings season kicks into gear, with markets switching focus from politics to corporate results.
Joe Biden's withdrawal from the U.S. presidential race was the main talking point on Monday, but markets mostly shrugged off the news. Vice President Kamala Harris is closing in on the Democratic nomination after enough delegates pledged to endorse her.
Euro STOXX 50 futures STXEc1 are up 0.2%. DAX futures FDXc1 are inching higher, while futures on the FTSE 100 FFIc1 and CAC 40 FCEc1 are both softer.
In corporate earnings, British caterer Compass Group CPG.L raised its annual forecasts for a second time this year.
German car manufacturer Porsche P911_p.DE lowered its sales forecast for the year and warned of impairments on a supply shortage of aluminium alloys.
It's been a better quarter for German software maker SAP SAPG.DE, which reported a 25% jump in cloud business and beat analysts' estimates for total revenue in the second quarter.
(Samuel Indyk)
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