European Factors to Watch-Shares seen down, focus on commodities

martes 9 de septiembre de 2014 02:25 GYT
 

LONDON, Sept 9 (Reuters) - European equities were expected to edge lower in
early trading on Tuesday, with weaker commodity prices impacted by a stronger
U.S. dollar expected to hurt mining and energy stocks.
    Prices of major industrial metals including copper and nickel
 fell 0.4 to 1.1 percent, spot gold hovered near a three-month low
and Brent crude traded around $100 a barrel after dropping below the level a day
earlier for the first time in 16 months.  
    At 0625 GMT, futures for the Euro STOXX 50, Britain's FTSE 100
, Germany's DAX and France's CAC were 0.2 to 0.5 percent
lower.
    In the United States, the Dow and the S&P 500 fell 0.2 percent
and 0.3 percent respectively on Monday, with energy shares featuring among the
worst decliners, while the pan-European FTSEurofirst 300 index fell 0.4
percent on uncertainty over a Ukraine ceasefire and concerns about Scotland's
independence vote later this month. 
    "Sentiment isn't overly bullish and certainly not conducive to pushing the
indices through their recent highs. The economic outlook from the continent
still remains weak and the potential fallout from the Scottish Independence vote
still drapes uncertainty over the UK," Jonathan Sudaria, dealer at Capital
Spreads, said in a morning note.
    The rival campaigns in Scotland's fight over independence are running
neck-and-neck nine days before the referendum, with a surge in support for those
who wish to break away from the United Kingdom, a TNS poll showed on Tuesday.
 
    On the macroeconomic front, focus will be on U.S. chain stores data and UK
industrial output numbers after figures from the British Retail Consortium
showed on Tuesday that surging clothing and footwear sales helped UK retail
sales accelerate sharply in August. 
-----------------------------------------------------------------------------
  MARKET SNAPSHOT AT 0546 GMT: 
                                               LAST    PCT CHG     NET CHG
 S&P 500                                   2,001.54    -0.31 %       -6.17
 NIKKEI                                     15773.3     0.43 %       68.19
 MSCI ASIA EX-JP                             511.97    -0.13 %       -0.69
 EUR/USD                                     1.2882    -0.11 %     -0.0014
 USD/JPY                                     106.24     0.21 %      0.2200
 10-YR US TSY YLD                             2.491         --        0.02
 10-YR BUND YLD                               0.966         --        0.02
 SPOT GOLD                                $1,255.00    -0.04 %      -$0.44
 US CRUDE                                    $92.79     0.14 %        0.13
  
  > DOLLAR GAINS GROUND ON YEN, JAPAN SHARES TEST HIGHS            
  > DOW, S&P 500 END LOWER FOLLOWING DROP IN ENERGY SHARES                
  > NIKKEI RISES AS WEAK YEN LIFTS EXPORTERS; OIL SHARES UNDERPERFORM     
  > BOND YIELDS STABILIZE ON FED STUDY, UKRAINE CEASEFIRE               
  > FOREX-DOLLAR SETS FRESH 14-MTH HIGH ON FED STUDY, STERLING WOES     
  > GOLD HOVERS NEAR 3-MTH LOW, DOLLAR STRENGTH WEIGHS                  
  > LONDON NICKEL SLIPS FROM TWO-MONTH HIGHS ON STRONGER DOLLAR        
  > BRENT SLIPS BUT HOLDS ABOVE $100 ON OPEC OUTPUT CUT HOPES            
    
    MACROECONOMIC DATA/EVENTS (GMT) :
    0645 FR Trade
    0830 GB Industrial Output
    1145 US ICSC Chain Store
    1255 US Redbook 
    
    COMPANY NEWS:    
    ABB 
    Swiss engineering group ABB said on Tuesday it would buy back $4
billion shares, offering a sweetener to investors as it set out lower mid-term
sales and profit targets in the face of modest economic growth.
    
    TELEFONICA DEUTSCHLAND, TELEFONICA 
    The telecoms operator said it planned to raise 3.62 billion euros ($4.66
billion) via a capital increase to partially finance its acquisition of E-Plus,
the German business of Dutch peer KPN. 
    Separately, AT&T on Monday said Spain's Telefonica will license its
home security technology for limited trials in Europe as the U.S. carrier hopes
it has found a new way to profit from its nascent connected-home business.
 
        
    UBS 
    A French appeals court will rule on Sept. 22 whether Swiss bank UBS
 must post bail of 1.1 billion euros (1.42 billion US dollar) in an
investigation of charges that it helped wealthy French customers avoid tax, the
bank's lawyer said on Monday. For more, click on 
    
    GLAXOSMITHKLINE 
    A U.S. anti-bribery probe into GlaxoSmithKline touched on the firm's Chinese
consumer healthcare business in 2012, internal documents show, suggesting the
drugmaker's compliance problems in China could go wider than previously
revealed. 
    
    ROYAL BANK OF SCOTLAND 
    The state-backed bank aims to raise up to $4 billion from the share
flotation of its U.S. bank Citizens Financial Group this month, it was announced
on Monday, putting it on track to be the biggest U.S. bank share offering this
year. 
    
    BARCLAYS 
    Barclays has cut 2,700 jobs in its investment bank this year as part of a
plan unveiled in May to axe 7,000 positions over three years, the head of the
business said on Monday. 
    
    PARTNERS GROUP 
    The asset manager said on Tuesday first-half net profit jumped 23 percent
after a sharp rise in fund management fees, and backed its full-year targets for
new client money. For more, click on 
    
    EURAZEO 
    French industrial laundry company Elis, 83 percent owned by investment
company Eurazeo, said it planned a 1.35 billion euro ($1.74 billion) debt
refinancing to go with its initial public offering, details of which it plans to
outline later on Tuesday. 

    ITV, BSKYB 
    British free-to-air commercial broadcaster ITV wants to charge pay-TV rivals
such as BSkyB and Virgin Media to carry its channels, saying
such a move would give it more money to make programmes.
    
    ELECTROLUX 
    The Swedish firm's deal to buy General Electric's appliances unit is
likely to clear antitrust hurdles in the United States, with some asset sales
possible, according to experts. 
    
    GAMESA, IBERDROLA 
    Spanish wind turbine manufacturer Gamesa said on Monday it had agreed to
issue some 25.4 million new shares to raise funds for expansion within the
onshore market, especially in emerging markets, and offshore. 
    
    L'OREAL 
    Chief Executive Jean-Paul Agon cut his forecast for full-year growth in the
global cosmetics market to between 3 percent and 3.5 percent from between 3.5
percent and 4 percent in an interview with Le Figaro newspaper. 
    
    SANOFI 
    Vaccines division Sanofi Pasteur said the U.S. Food and Drug Administration
approved the use of Menactra for booster vaccination against meningococcal
disease in people aged 15 to 55 years. 
    
    PUBLICIS 
    The ad group announced the acquisition of design and branding agency Turner
Duckworth, whose clients include consumer brands such as Coca-Cola, Visa,
Miller, Oreo, Jacobs, Google, The Glenlivet, Samsung, Waitrose and Metallica,
and which employs 70 staff in London and San Francisco. 

 (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)