European Factors to Watch-Shares to pause after stimulus-fuelled rise

martes 10 de junio de 2014 02:41 GYT
 

(Adds further company news)
    By Francesco Canepa
    LONDON, June 10 (Reuters) - European stocks were seen opening flat to lower
on Tuesday, pausing after a three-day winning streak left a key regional index
overbought on technical charts.
    At 0637 GMT, futures for the Euro STOXX 50, Britain's FTSE 100
, Germany's DAX and France's CAC were between flat and
0.1 percent lower.
    The euro zone's blue-chip Euro STOXX 50 index ended at a high
not seen since September 2008 on Monday, rising for a third consecutive day
after the ECB on Thursday cut interest rates, launched a series of measures
aimed at easing lending and pledged to do more if needed.
    The rise left the index in "overbought" territory on its 14-day
wilder-smoothing Relative Strength Index, a momentum indicator, for the first
time since October, charts showed. 
    The longer-term trend, however, remained up, with the index supported by its
50-day simple moving average. 
    "It (the "overbought" RSI) means that on a short-term basis, the momentum
could slow down," Philippe Delabarre, an analyst at Trading Central in Paris
said. "But this is not going to prevent the continuation of the rise."
    Among investors taking profit on a two-year rally in euro zone shares was
U.S. billionaire Wilbur Ross, who said he would sell his stake in Bank of
Ireland (BoI) three years after his investment, making an estimated
profit of over 150 percent.
    "The sale of Wilbur Ross' remaining c.5.5 percent stake... reinforces our
view that there remains little in the way of incremental positive catalysts on
the horizon for BKIR," analysts at Nomura wrote in a note, cutting their target
price for the stock.

    
    Europe bourses in 2014: (link.reuters.com/pad95v)
    Asset performance in 2014: (link.reuters.com/rav46v)
------------------------------------------------------------------------------
  MARKET SNAPSHOT AT 0637 GMT:
    
                                            LAST      PCT CHG       NET CHG
 S&P 500                                1,951.27       0.09 %          1.83
 NIKKEI                                  14994.8      -0.85 %        -129.2
 MSCI ASIA EX-JP  <.MIAPJ0000PUS          494.25       0.59 %          2.91
                  >                                            
 EUR/USD                                  1.3598       0.04 %        0.0006
 USD/JPY                                  102.27      -0.24 %       -0.2500
 10-YR US TSY                              2.590           --         -0.02
 YLD                                                           
 10-YR BUND YLD                            1.370           --         -0.01
 SPOT GOLD                             $1,254.70       0.25 %         $3.12
 US CRUDE                                $104.70       0.28 %          0.29
 
  
  > ASIA STOCKS HIT 3-YR HIGH ON PROMISING ECONOMIC SIGNS         
  > US STOCKS-DOW, S&P 500 EXTEND STRING OF RECORD CLOSES; VIX UP        
  > NIKKEI EDGES DOWN ON PROFIT-TAKING; MUFG RISES ON BROKERAGE UPGRADE  
  > TREASURIES-PRICES DIP AHEAD OF U.S. SUPPLY THIS WEEK               
  > DOLLAR STEADY, DRAWS SUPPORT FROM RISE IN U.S. YIELDS              
  > PLATINUM EXTENDS GAINS TO 5TH DAY; PALLADIUM NEAR 3-YEAR TOP       
  > LME COPPER STEADY; ALUMINIUM, ZINC HOVER NEAR MULTI-MTH TOPS      
  > BRENT RISES ABOVE $110 AFTER BEST DAY IN TWO MONTHS ON DEMAND HOPES 
    
    COMPANY NEWS:    
    IMPERIAL TOBACCO 
    Britain's Imperial Tobacco Group said on Tuesday it intended to float its
European logistics division Logista on the Spanish stock market after a review
of options for the Madrid-based unit. 
    
    ORANGE / VIVENDI 
    The French telecoms group has ended talks with Vivendi's Canal+ over the
pay-television operator taking a stake in online video-sharing website
Dailymotion, newspaper Les Echos said on Monday. 
    
    DEUTSCHE TELEKOM 
    Shares in French telecoms company Orange rose to a 2-1/2 year high on
Monday, with traders citing talk of a possible bid from German rival Deutsche
Telekom. 
    
    RIO TINTO 
    Guinea's main opposition parties withdrew from parliament on Monday and
threatened to hold street protests over delays in organising local elections
promised in a political deal with the government last year.
    Guinea's iron ore mines are home to some of the world's biggest untapped
reserves and have attracted investments from the world's biggest mining firms,
including Rio Tinto. 
    
    BHP BILLITON 
    Tug boat engineers at Australia's top iron ore export port backed plans for
possible strike action in a fight for more leave and shorter work hours that
could halt a quarter of the world's iron ore exports. 
    
    CREDIT SUISSE 
    Credit Suisse is mulling a plan to spin off part of its fixed
income business in the United States in order to help trim costs, according to a
report in the Financial Times.
    
    BANCA MONTE DEI PASCHI DI SIENA 
    The chairman of Banca Monte dei Paschi di Siena said on Monday the Italian
lender's rights issue got off to a good start partly due to technical reasons.
 
    Shares in Italian lender Banca Monte dei Paschi di Siena closed up 20
percent on Monday at 1.848 euros after launching a 5 billion euro ($6.8 billion)
share sale, according to Reuters data. 
    
    BANCA CARIGE 
    The top investor in Banca Carige sold 10.86 percent of the Italian mid-sized
bank on Monday, days ahead of a planned 800 million euro share sale needed to
boost the lender's capital base. 
    
    TESCO, BANKS - Tesco Bank, the financial services arm of Britain's
biggest retailer, has launched its first personal current or checking account,
looking to challenge established lenders and bring shoppers back into its
parent's stores. 
    
    GENERALI, UNIPOL SAI 
    The Italian government is considering plans to allow insurers to grant
credit to companies, a source close to the matter said on Monday. 
    
    ALLIANZ, MUNICH RE 
    A storm raged over Germany's most populous state late on Monday, causing at
least one death, forcing Duesseldorf airport to shut down temporarily,
disrupting public transport and making some roads impassable due to fallen
trees. 
    
    PORSCHE 
    Plans for a small entry-level sports car are still on ice, although not
entirely buried, the CEO of the sportscar maker is quoted as saying in an
interview with Handelsblatt.    
    
    MICHELIN 
    The tyre maker agreed to buy Brazilian digital truck-fleet management
company Sascar Participações SA for 440 million euros to tap into robust growth
in the South American nation's truck industry. 
    
    ILIAD / BOUYGUES 
    French low-cost telecoms operator Iliad made an informal offer in recent
weeks to buy rival Bouygues Telecom that did not meet the asking price of
conglomerate parent Bouygues, Bloomberg reported, citing sources familiar with
the matter. 
    
    GEMALTO 
    The digital security company said on Tuesday it was selected by China
Telecom as one of the suppliers to support the commercial roll out of mobile
contactless services.    
    
    NESTLE 
    U.S. health officials on Monday finalized manufacturing guidelines for
infant formula makers, which include Nestle, that aim to ensure
products sold for babies meet certain quality controls to keep them safe.
 
    
    SYNGENTA 
    China has stopped issuing permits for imports of distillers dried grains
(DDGs) from top exporter the United States on concerns they might contain an
unapproved genetically-modified organism (GMO), traders said, sending U.S.
prices tumbling. 

 (Reporting By Francesco Canepa; Editing by Miral Fahmy, Shri Navaratnam
Alistair Smout and Sudip Kar-Gupta)