(Reuters) - European shares were expected to fall on Wednesday, tracking weak markets in Asia and in the United States, as investors book profits from a recent rally, with heavyweight miners set to feel the pinch from easing commodity prices. By 0625 GMT, futures for the Euro STOXX 50, for Germany's DAX and for France's CAC fell 0.3 to 0.5 percent. Heavyweight miners are likely to come under pressure as copper, gold and silver prices fell on the back of a rising dollar .DXY. Some concerns about demand from China were kept alive by comments from a Chinese official that Beijing may further tighten monetary policy to curb inflation by raising banks' required reserves. The bearish mood in Europe follows-on from a weak session overnight on Wall Street, where the S&P 500 .SPX fell for the second straight day after hitting three-year highs late last week, while Asian shares outside of Japan .MIAPJ0000PUS shed 1.5 percent. The peripheral euro zone debt crisis is likely to remain in the spotlight after Portugal agreed a three-year 78-billion-euro ($116 billion) bailout with the European Union and IMF on Tuesday, making it the third euro zone country in a year, after Ireland and Greece, to need financial help. The FTSEurofirst 300 .FTEU3 index of top European shares dropped 0.5 percent to 1.150.81 points on Tuesday to snap an eight-session rally during which it added almost 4 percent. "After a month or so of one-way traffic for risk assets, traders are questioning the short term direction of equities and given the price action and positioning in various asset classes one could say the path of least resistance looks to be down," said Chris Weston, institutional trader at IG Markets. A raft of corporate results from across Europe due on Wednesday are expected to provide further direction for equities. About 53 percent of companies on the STOXX Europe 600 index .STOXX that have so far released first quarter results have posted in-line or above-forecast earnings, with the rest coming in below expectations, data from Thomson Reuters StarMine showed. COMPANY NEWS: BNP PARIBAS (BNPP.PA) France's biggest listed bank, BNP Paribas, posted higher-than-forecast first-quarter revenue and earnings, driven by strong retail growth and resilient investment banking. STANDARD CHARTERED (STAN.L) Standard Chartered Plc said it had cut staff in the first quarter to keep costs under control, dampening an otherwise strong first-quarter that saw income rising by a double-digit percentage. GLENCORE INTERNATIONAL GLEN.UL Glencore International has set the price range for its London and Hong Kong IPO slightly lower than previous guidance, enabling it to raise up to $10 billion, three sources told Reuters. SIEMENS (SIEGn.DE) German industrial conglomerate Siemens raised its full year outlook as second-quarter profit rose more than expected on a one-off gain and emerging market demand. HOLCIM (HOLN.VX) The world's second largest cement maker missed forecasts with a small net profit in the first quarter and said construction in mature markets would recover. ANHEUSER-BUSCH INBEV (ABI.BR) The world's largest brewer increased revenue and profit in the first quarter by selling less beer at higher prices. WACKER CHEMIE (WCHG.DE) Strong demand from the solar and semiconductor industries buoyed first-quarter results of German specialty chemical group Wacker Chemie, leading the company to hike its profit outlook for the ongoing year. ALSTOM (ALSO.PA) French power and transport engineering group Alstom confirmed its financial targets for the year ending in March 2012 after it posted a slightly higher-than-expected annual operating margin. NEXT (NXT.L) Britain's No. 2 fashion retailer raised its guidance after first quarter sales beat expectations, boosted by exceptionally warm weather over Easter and spending ahead of the Royal Wedding Bank Holiday. SANTANDER (SAN.MC), RIO TINTO (RIO.AX), ALCOA (AA.N) Spain's Santander and JPMorgan Chase (JPM.N) are not involved in any rumored bid by Rio Tinto (RIO.AX) (RIO.L) for Alcoa Inc (AA.N), two sources familiar with the situation said on Tuesday, denying market talk that the banks were lending money to Rio for the purpose. HERMES (HRMS.PA) The French luxury group sealed its divorce from fashion designer Jean-Paul Gaultier by selling its 45 percent stake in his fashion company to Spanish perfume maker Puig. DEUTSCHE TELEKOM (DTEGn.DE) The U.S. Justice Department has decided to pursue an in-depth investigation of AT&T's (T.N) plan to buy of T-Mobile USA, according to a source familiar with the deal. VOLKSWAGEN (VOWG_p.DE), PORSCHE (PSHG_p.DE) Volkswagen's U.S. unit sales in April rose 23.4 percent year-on-year to 28,542 vehicles, while Porsche AG saw U.S. sales rise 81.6 percent to 3,172 cars. Volkswagen's Audi unit posted U.S. sales of 10,018 cars in April, up 7.5 percent from a year earlier. TELENOR (TEL.OL) Norwegian group Telenor met forecasts with a 4.7 percent rise in core first-quarter earnings and said it would keep its troubled investment in Russian operator Vimpelcom (VIP.N). HENKEL (HNKG_p.DE) German consumer goods company Henkel slightly increased its sales guidance for 2011 after beating expectations with first-quarter results thanks to growth in cosmetics and adhesives. FRESENIUS FREG_p.DE German healthcare conglomerate Fresenius raised its full-year earnings outlook on Wednesday as its generic infusion drug division continues to benefit from new product launches and rivals' supply shortages.

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