By Adria Cimino
June 30 (Bloomberg) -- European stock-index futures were little changed. U.S.-traded securities of Deutsche Lufthansa AG, Europe's second-biggest airline, Daimler AG and Royal Philips Electronics NV fell after oil climbed to a record.
StatoilHydro ASA and Eni SpA may lead gains by energy producers. France Telecom SA will probably be active after Europe's third-biggest telephone company ended its bid for Sweden's TeliaSonera AB.
Futures on the Dow Jones Euro Stoxx 50 Index, a benchmark for the euro region, slipped 3, or less than 0.1 percent, to 3,366 at 7:38 a.m. in London. The U.K.'s FTSE 100 Index may decrease 15, according to Cantor Index, a betting firm.
The Stoxx 600 last week completed its fourth weekly decline on mounting concern that record oil prices, higher borrowing costs and slowing economic growth will erode earnings. The index is down 21 percent so far this year.
``If oil prices keep going up, the market will keep coming off, it's as simple as that,'' said Alan Beaney, head of investments at Principal Investment Management Ltd. in London, which oversees about $2 billion. ``The read-through is we have less economic growth.''
U.S. stocks slumped last week, pushing the Dow Jones Industrial Average to the brink of a bear market. Asian stocks advanced today, trimming the regional index's steepest first- half loss in 16 years.
American depositary receipts of Deutsche Lufthansa lost 0.8 percent from the stock's close in Germany. ADRs of Daimler, the world's second-biggest maker of luxury vehicles, slipped 0.7 percent below the finish in Germany. ADRs of Philips, Europe's largest consumer-electronics maker, slid 0.6 percent from the share's close in the Netherlands.
Oil, Metals
Crude oil rose for a third day, trading near a record $142.99 a barrel in New York, as the slumping dollar and concern that supply may be disrupted spurred demand for commodities. The contract reached its all-time high on June 27.
Oil has climbed 48 percent so far this year, compared with the 57 percent gain in all of 2007.
ADRs of Statoil, Norway's largest oil company, added 1 percent from the stock's close. ADRs of Eni, Italy's biggest, gained 0.8 percent from the share's close.
``Bullish commodity prices and ongoing concerns as to the overall economic outlook seem set to continue weighing on market sentiment,'' Maninka Miller, a trader at CMC Markets in London, wrote in a note to clients. ``It's been a grueling first half. There's little to suggest that the month-end will bring any wholesale change of opinion.''
Copper in Shanghai rose, while gold traded near a one-month high in Asia.
Consumer Confidence
U.K. consumer confidence dropped in June to the lowest level since the London riots that preceded Margaret Thatcher's downfall in 1990, as house prices fell across the nation, a GfK NOP Ltd. survey showed today.
Business confidence among U.K. banks and insurers recorded its steepest decline in the second quarter since 1990, according to the Confederation of British Industry.
BNP Paribas SA, France's largest bank by assets, may slip. HSBC cut its recommendation on the stock to ``neutral'' from ``overweight.''
France Telecom, Europe's third-biggest telephone company, ended its unsolicited bid to buy TeliaSonera for 244 billion kronor ($40.8 billion) after the Swedish company rejected the offer as too low.
``The dialogue opened with the board of directors of TeliaSonera was unable to reach agreement on its financial conditions,'' the Paris-based company said in a statement today.
Taylor Wimpey
Taylor Wimpey Plc, the U.K.'s largest homebuilder, is in talks with investors to raise money as it writes down the value of its land and renegotiates banking covenants in response to a ``sustained weak'' housing market.
Siemens AG, Europe's second-largest engineering company, may cut as many as 17,200 jobs, or about 4 percent of its workforce, by 2010 as part of an effort to save 1.2 billion euros ($1.9 billion), according to reports in Sueddeutsche Zeitung and the Financial Times.
J Sainsbury Plc, the U.K.'s third-largest supermarket chain, is considering the sale of its 2 billion-pound ($4 billion) pension fund, raising the possibility of a renewed takeover bid, the Sunday Express reported, citing unidentified people.
To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net.
Last Updated: June 30, 2008 02:47 EDT
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