By Sarah Jones
Nov. 12 (Bloomberg) -- European stock-index futures advanced, indicating the Dow Jones Stoxx 600 Index may rebound from a 4 percent loss. U.S. index futures also gained, while shares in Asia declined.
Financial shares may be active after UniCredit SpA, Italy's largest bank, beat earnings estimates. Electricite de France SA, the world's biggest operator of nuclear reactors, reported nine- month sales rose 6.9 percent. J Sainsbury Plc may gain after the U.K. retailer posted pre-tax profit that topped analysts' projections and raised its dividend.
Futures on the Euro Stoxx 50, a benchmark for the euro region, gained 56, or 2.3 percent, to 2,547 at 7:40 a.m. in London. The U.K.'s FTSE 100 Index may open up 78 points, according to CMC Markets.
Dresdner Kleinwort raised its recommendation for European and U.K. equities to ``neutral'' saying the financial crisis may have peaked last month.
Futures on the Standard & Poor's 500 Index gained 1.5 percent. The MSCI Asia Pacific Index dropped 1.3 percent.
``European equity markets may well be on course to start the session a little higher,'' said Matt Buckland, a London- based dealer at CMC Markets. ``But just how sustainable this will be remains to be seen in light of a general leak of investor confidence.''
U.S. stocks dropped yesterday for a second day amid concerns the economic slump may deepen. Asian shares fell to a two-week low today as commodity prices slumped.
More than $28 trillion has been erased from the value of global equity markets as credit losses and writedowns totaled $918 billion in the worst financial crisis since the Great Depression. Europe's Stoxx 600 has declined 42 percent in 2008, headed for its worst year on record.
UniCredit, EDF
UniCredit might move. The bank reported a 54 percent drop in third-quarter profit to 551 million euros ($694 million) that still beat analysts' estimates of 428 million-euros.
EDF might be active after saying nine-month sales rose 6.9 percent to 45.6 billion euros on higher prices. That was more than the median estimate of 45.3 billion euros of analysts surveyed by Bloomberg News.
Sainsbury may gain after the third-largest U.K. supermarket chain said first-half pretax profit of 272 million pounds before one-time items beat the 267.9 million-pound estimate of 12 analysts. Net income rose 5.6 percent in the first six months to 170 million pounds, after price cuts drew shoppers seeking to spend less as the economy heads for its first recession since 1991. That missed the 182.7 million-pound median estimate of 10 analysts surveyed by Bloomberg News.
Sainsbury raised its first-half dividend by 20 percent to 3.6 pence a share.
Swiss Life
Swiss Life Holding may be active after Switzerland's biggest life insurer said full-year profit won't meet the 1.8 billion to 1.9 billion Swiss franc ($1.6 billion) target announced in August.
The company plans to halt a share buyback after market turmoil eroded the value of investments. Excluding a one-off gain of 1.5 billion francs from the sale of units, the insurer said it will report a full-year loss from continuing operations.
Hypo Real Estate Holding AG may decline after the German lender that received a 50 billion-euro bailout last month said it expects a third-quarter provisional pretax loss of 3.1 billion euros. The company said it expects further ``negative impacts'' on its earnings in the fourth quarter and 2009.
ING Groep NV, the financial-services company that got a 10 billion-euro lifeline from the Netherlands last month, posted a third-quarter loss of 478 million euros. That was less than the 500 million euros ING forecast last month and compared with net income of 2.31 billion euros in the year-earlier period.
Deutsche Postbank AG might move after Germany's biggest consumer bank by clients said it will offer investors one new share for every three they already own as part of the lender's 1 billion-euro capital increase.
To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net.
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