Europe Factors to Watch-Shares set to pause after brisk rally
PARIS, Aug 27 (Reuters) - European shares were set to dip on Wednesday, pausing after their brisk 2-1/2 week rally, with data showing German consumer morale falling for the first time in more than 1-1/2 years denting investors' appetite for stocks. Market research group GfK said on Wednesday its forward-looking consumer sentiment indicator, based on a survey of around 2,000 Germans, fell to 8.6 going into September from a downwardly revised 8.9 in August. It was the biggest drop in more than three years and below the consensus forecast in a Reuters poll of 30 economists for 9.0, undershooting even the most pessimistic estimate of 8.7. GfK said it was the first decline since January 2013. At 0612 GMT, futures for Euro STOXX 50, for UK's FTSE 100, for Germany's DAX and for France's CAC were down 0.2-0.3 percent. French equities will be in the spotlight on Wednesday after President Francois Hollande replaced his maverick leftist economy minister Arnaud Montebourg with Emmanuel Macron, a former Rothschild partner, in a reshuffle intended to reconcile his efforts to revive the stagnant French economy with deficit-cutting orthodoxy. European stocks have strongly rallied since a low hit on Aug 8, with the FTSEurofirst 300 index surging 6 percent, as fears of an escalation in the Ukrainian crisis eased and comments from European Central Bank President Mario Draghi fuelled speculation the ECB could embark on a large-scale asset-buying scheme to revive inflation. Late on Tuesday, Ukrainian President Petro Poroshenko promised after negotiations with Russia's Vladimir Putin to work on an urgent ceasefire plan to defuse the separatist conflict in the east of his former Soviet republic. The impact from the Ukrainian crisis and tensions between the West and Moscow were visible again in European company results on Wednesday, with Marine Harvest, the world's largest salmon farmer, saying it expected Russian sanctions, which are hurting salmon exporters, to pose short-term challenges. Europe bourses in 2014: (link.reuters.com/pad95v) Asset performance in 2014: (link.reuters.com/rav46v) ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0612 GMT: LAST PCT CHG NET CHG S&P 500 2,000.02 0.11 % 2.1 NIKKEI 15534.82 0.09 % 13.6 MSCI ASIA EX-JP 514.61 0.44 % 2.26 EUR/USD 1.317 0.02 % 0.0003 USD/JPY 103.96 -0.07 % -0.0700 10-YR US TSY YLD 2.386 -- -0.01 10-YR BUND YLD 0.933 -- -0.01 SPOT GOLD $1,283.80 0.25 % $3.16 US CRUDE $93.91 0.05 % 0.05 > GLOBAL MARKETS-ASIA STOCKS UP, ECB TALK PRESSURES EURO > US STOCKS-S&P 500 SCORES FIRST CLOSE ABOVE 2,000; DATA HELPS > NIKKEI EDGES UP ON WALL ST GAINS, KAWASAKI KISEN RISES ON ROE HOPE > DOLLAR SETS 13-MTH HIGH AS EURO STRUGGLES ON ECB EASING EXPECTATIONS > PRECIOUS-GOLD DRIFTS HIGHER; FIRM DOLLAR AND EQUITIES LIMIT UPSIDE > LONDON COPPER STEADY, SUPPORTED BY BRIGHTER U.S. SIGNALS > BRENT NUDGES UP NEAR $103, RECOVERS FROM 14-MONTH LOW COMPANY NEWS: MARINE HARVEST The world's largest salmon farmer said it expected Russian sanctions, which are hurting salmon exporters, to pose short-term challenges. ROYAL BANK OF SCOTLAND The lender will be fined by Britain's financial regulator on Wednesday over mortgage advice given to customers, sources familiar with the matter told Reuters on Tuesday. GLENCORE The commodity trader and miner and Chinese nickel producer Jinchuan Group are the front runners to buy BHP Billiton's Australian Nickel West division, a source close to the situation said. UBS UBS published its Pillar 3 report for the first half which includes disclosures on capital, risk and securitization as of June 30, complementing the Swiss bank's first- and second-quarter reporting. TELECOM ITALIA, VIVENDI Telecom Italia will make a bid valued at roughly 7 billion euros ($9.2 billion) for Vivendi's Brazilian broadband unit GVT, which would leave Vivendi with a 15 to 20 percent stake in the Italian group, said four people familiar with the matter. LUFTHANSA The German airline and pilots' union Vereinigung Cockpit (VC) will return to the negotiating table on Thursday as they seek to reach agreement in a dispute over an early retirement scheme, both sides said on Tuesday. AREVA Areva signed $100 million worth of contracts to provide nuclear fuel fabrication, outage services and used fuel management solutions to a U.S. nuclear utility, it said in a statement on Tuesday, without disclosing the name of its customer. AGFA-GEVAERT The Belgian graphics group on Wednesday said it grew its profit margins in the second quarter, helped by lower raw materials prices and a programme to improve efficiency. TOM TAILOR The fashion retailer said late Tuesday that Hong Kong listed conglomerate Fosun International could acquire more shares in the coming months, depending on the share price, after buying a 23 percent stake. TOTAL Norway is confident the Snorre oilfield's production life will be extended as planned, the country's oil and energy minister said on Tuesday, despite doubts expressed by some of the partners about the project's viability. Total is a partner in the field. TF1 The broadcaster wrote a letter to the government a month ago warning of a dark outlook for TV media groups and asking for a lighter regulatory touch in future. INGENICO The payment systems group said it had been awarded the first certification in France for a mobile acceptance solution by Cartes Bancaires CB Group. Mobile acceptance combines a payment solution with mainstream mobile equipment such as a smartphone or tablet. GOLDEN OCEAN The Dry bulk shipper said it expected to post a small net loss in the third quarter as it posted second-quarter earnings slightly above expectations on Wednesday. (Reporting by Blaise Robinson; Editing by Francesco Canepa)
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