European Stock-Index Futures Gain; BP, Total, BASF May Advance

By Michael Patterson

July 31 (Bloomberg) -- European stock-index futures rose, following gains in the U.S., after a rebound in oil prices boosted the profit outlook for energy companies and earnings at BASF SE and HBOS Plc beat analysts' estimates.

BP Plc, the region's second-largest oil company by market value, and Total SA may advance as crude futures traded above $126 a barrel. BASF, the world's biggest chemical producer, might climb as earnings surpassed projections on higher prices for cosmetics. HBOS, Britain's largest mortgage lender, may increase after profit fell less than analysts expected. Sanofi-Aventis SA might drop as lower sales dragged profit below projections.

Futures on the Dow Jones Euro Stoxx 50 Index, a benchmark for the euro region, added 8, or 0.2 percent, to 3,396 at 7:39 a.m. in London. The U.K.'s FTSE 100 Index may gain 13 to 5,433, according to BGC Partners, a betting firm.

There's ``a huge volume of earnings news,'' said Paul Webb, a trader at CMC Markets in London. ``Attention here may well be focused on the fortunes of the financial companies.''

Europe's Stoxx 600 has rebounded 6.6 percent from a three- year low on July 15 as results by companies from Credit Suisse Group AG to Siemens AG and ArcelorMittal exceeded expectations.

Analysts cut earnings projections this year as financial firms' credit losses topped $475 billion worldwide and rising commodity prices weighed on consumer spending. Profits at Stoxx 600 companies may fall 2.6 percent on average in 2008, according to estimates tracked by Bloomberg. That's down from a forecast for 11 percent growth at the start of the year.

The Stoxx 600 is poised for its third straight monthly loss. The gauge has fallen 1.9 percent in July, led by declines in energy and raw-materials shares as the Reuters/Jefferies CRB Commodity Index plunged the most in 28 years.

Crude Oil

Crude oil traded little changed above $126 a barrel in New York after rising yesterday the most since July 10 on data showing U.S. gasoline inventories declined for the first time in five weeks.

BP's American depositary receipts closed 2.3 percent higher than the finish in London. U.S.-traded securities of Total SA, Europe's third-largest oil company, ended 1.6 percent above the close in Paris.

Gasoline supplies dropped 3.53 million barrels to 213.6 million barrels last week, the U.S. Energy Department said, compared with a gain of 350,000 barrels estimated in a Bloomberg News survey.

Royal Dutch Shell Plc may be active. Europe's biggest oil company said second-quarter profit climbed 33 percent, boosted by record crude prices and higher natural gas.

Deutsche Bank

BASF will probably rise. Net income advanced to 1.3 billion euros ($2 billion) from 1.02 billion euros a year earlier, the company said. Analysts predicted 1.07 billion euros. BASF raised prices by as much as 20 percent in the quarter.

HBOS might climb. Britain's biggest mortgage lender said net income dropped to 931 million pounds ($1.84 billion) from 2.1 billion pounds a year earlier. That beat the 792 million-pound average estimate of seven analysts surveyed by Bloomberg.

Deutsche Bank AG may be active after second-quarter profit at Germany's largest bank was 649 million euros, topping the 491 million-euro median estimate of 19 analysts surveyed by Bloomberg.

Sanofi-Aventis might fall. France's biggest drugmaker reported second-quarter earnings that missed analysts' estimates as savings from job cuts failed to offset a decline in sales. Sanofi raised its earnings guidance for the year.

Unilever may be active. The world's second-largest consumer- products company posted second-quarter profit that trailed analysts' estimates as prices for edible oils increase job cuts boosted costs.

Continental AG might move after Europe's second-biggest tiremaker, facing an unsolicited 11.3 billion-euro bid, reported profit that topped analysts' estimates.

To contact the reporter on this story: Michael Patterson in London at mpatterson10@bloomberg.net.