European Factors to Watch- Shares to fall for 4th day

miércoles 10 de septiembre de 2014 02:38 GYT
 

(New throughout; adds futures, company news)
    LONDON, Sept 10 (Reuters) - European shares were set to fall for a fourth
straight day on Wednesday, taking their cue from falls in U.S. and Asian shares
overnight, as the prospect of a tightening in U.S. monetary conditions unnerved
investors at a time of heightened geopolitical uncertainty.
    At 0629 GMT, futures for the Euro STOXX 50, Britain's FTSE 100
, Germany's DAX and France's CAC were down between 0.1
percent and 0.4 percent.
    Asian and U.S. shares fell overnight as markets wagered the Federal Reserve
would raise interest rates earlier than expected, sending U.S. bond yields
higher and keeping the dollar well bid near 14-month highs against a basket of
major currencies.
    EU countries will discuss on Wednesday whether to implement new sanctions
against Russia over its role in the Ukrainian crisis. The sanctions would
include restrictions on financing for Russian state-owned oil companies and
banks, an expanded list of people whose assets in the EU will be frozen, and new
restrictions on the sale of goods that can be used for both military and
civilian purposes. 
    Apple suppliers such as ARM Holding will be in focus after the U.S.
firm unveiled a watch, two larger iPhones and a mobile payments service on
Tuesday. After an early surge, Apple shares closed lower.
    Shares in Apple's Japanese suppliers initially fell in Tokyo before turning
higher, along with the rest of the market, after the yen plumbed its weakest
levels for six years against the dollar. 
    The Euro STOXX 50 has been pulling back since hitting a two-month high on
Thursday, when the European Central Bank cut its interest rates and president
Mario Draghi unveiled new stimulus measures.
    "The U.S. and Asia are not contributing to a positive momentum and the
initial Draghi reaction is wearing off," Mike Reuter, a broker at Tradition,
said. "I think we'll be weakish at the open and with more EU sanctions looming
later today we might as well remain there." 
    
    COMPANY NEWS
    * TECH SECTOR: Apple Inc unveiled a watch, two larger iPhones and a
mobile payments service on Tuesday as Chief Executive Officer Tim Cook seeks to
revive the technology company's reputation as a wellspring of innovation.
 
    * BARRATT DEVELOPMENTS - The British housebuilder said it predicted
a return to more normal seasonal trends in Britain's housing market as it posted
a full-year pretax profit up over 100 percent. 
    * KINGFISHER - Europe's largest home improvements retailer said
longstanding chief executive Ian Cheshire would step down before the end of its
financial year and be succeeded by Veronique Laury, the boss of French unit
Castorama. It made an underlying pretax profit of 364 million pounds ($586.8
million) in the 26 weeks to Aug. 2. 
    * RIO TINTO - World no.2 iron ore miner Rio Tinto expects other
miners worldwide to cut 125 million tonnes of iron ore capacity in 2014, roughly
equal to the amount of new supply expected to come on stream from Australia and
Brazil. 
    * SPORTS DIRECT INTERNATIONAL - Britain's biggest sporting goods
retailer posted a 12 percent rise in first quarter sales as some stronger weeks
of trade were tempered by the absence of a World Cup boost following England's
poor showing. 
    * LONDON STOCK EXCHANGE GROUP - LSE said on Wednesday it sees an
encouraging pipeline of companies seeking to raise capital on its markets.
 
    * BRITISH SKY BROADCASTING GROUP - The company announced said that
it has successfully priced 3.25 billion pounds (5.24 billion US dollar) of Euro
and US dollar denominated bonds for Sky Europe transaction. 
    * ALSTOM - The British subsidiary of French train and turbine
maker Alstom paid around $8.5 million in bribes over a six-year period to win
transport contracts in India, Poland and Tunisia, Britain's leading fraud
prosecutor alleged on Tuesday. 
    * AREVA - Credit ratings agency Standard & Poor's has put French
nuclear power engineering group Areva on "creditwatch negative" and will decide
within 30 days whether to downgrade its credit ratings by one notch into
non-investment grade territory. 
    * FINMECCANICA - The Italian aerospace and defence group said on
Tuesday it was evaluating non-binding offers received from "several players"
interested in the railway units of the group. 
    * AIR FRANCE-KLM - Franco-Dutch airline Air France-KLM plans to
invest 1 billion euros ($1.3 billion) in growing its Transavia low-cost unit in
Europe, the company said. 
    * AMADEUS IT - Air France is selling a 1 percent stake in travel
technology company Amadeus IT for around 128 million euros ($165.3 million),
according to terms of the accelerated placement seen by Reuters. Societe
Generale is acting as sole bookrunner to the deal, which will see Air France
sell about 4.475 million Amadeus shares for a price of around 28 euros per
share. 
    * LUFTHANSA - Lufthansa said it would offer pilots more definite
details of an early-retirement package as it seeks to avert further costly
strikes after Germany's flagship airline saw three walkouts announced in the
space of two weeks.
    * FRAPORT Indicated 0.3 percent higher. The company said passenger
traffic at Frankfurt airport rose 5.4 percent in August. 
    * BAE Systems - Nearly two years after the merger of BAE Systems
with rival EADS fell apart, BAE's U.S. unit on Tuesday said it is focused more
on winning orders in key product lines than through mergers and acquisitions.
 
    * BARCLAYS - Index provider Standard & Poor's and financial
information services provider Markit Ltd MRKT.O have emerged as final bidders
for Barclays index business, which could fetch more than $1 billion, according
to people familiar with the matter. 
    * BMW - An electric version of the Mini that will move the classic
British car further away from its original design will have to wait at least six
months for a possible green light, a BMW board member said on Tuesday.
 
    
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  MARKET SNAPSHOT AT 0637 GMT:   
                                              LAST    PCT CHG         NET CHG
 S&P 500                                  1,988.44    -0.65 %           -13.1
 NIKKEI                                   15788.78     0.25 %           39.63
 MSCI ASIA EX-JP                            505.52    -1.19 %           -6.11
 EUR/USD                                    1.2929    -0.05 %         -0.0006
 USD/JPY                                    106.44     0.24 %          0.2600
 10-YR US TSY YLD                            2.507         --            0.01
 10-YR BUND YLD                              1.001         --            0.00
 SPOT GOLD                               $1,257.15      0.1 %           $1.21
 US CRUDE                                   $92.79     0.04 %            0.04
  > ASIA STOCKS TAKE FRIGHT ON FED ANXIETY, DOLLAR SHINES    
  > WALL ST ENDS LOWER AS APPLE FALLS, BOND YIELDS RISE      
  > NIKKEI FALLS ON WALL ST WEAKNESS; APPLE SUPPLIERS SLIP   
  > SHORT-TERM YIELDS RISE ON EXPECTATIONS FOR HAWKISH FED   
  > AUSSIE DOLLAR SLUMPS TO 5-MONTH LOW AS USD FLEXES MUSCLE 
  > GOLD STRUGGLES NEAR 3-MONTH LOW ON FED RATE HIKE FEARS   
  > BATTERED LME METALS STEADY AS DOLLAR RALLY COOLS         
  > BRENT EDGES UP ABOVE $99, BUT DEMAND WORRIES LINGER      
    

 (Reporting By Francesco Canepa; Editing by Atul Prakash)