Europe Factors to Watch-Shares set to rise; eyes on earnings
PARIS, Oct 28 (Reuters) - European stocks were set to rise on Tuesday, reversing the previous session's dip as better-than-expected results from a number of blue-chips including Novartis and UBS helped lift sentiment. Financial spreadbetters expected Britain's FTSE 100 to open 19 points higher, or up 0.3 percent, Germany's DAX to open 27 points higher, or up 0.3 percent, and France's CAC 40 to open 15 points higher, or up 0.4 percent. Swiss lender UBS said it booked 1.8 billion Swiss francs ($1.9 billion) in third-quarter charges as it discusses a settlement to an investigation that it and other banks rigged foreign exchange rates. Even including the charge, UBS posted a 32 percent rise in quarterly profit, beating forecasts. Swiss drugmaker Novartis reported better-than-expected results on Tuesday, as a pre-tax gain from the sale of its Idenix shareholding offset full copycat competition to its former best-selling blood pressure pill Diovan. Europe bourses in 2014: (link.reuters.com/pad95v) Asset performance in 2014: (link.reuters.com/rav46v) ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0639 GMT: LAST PCT CHG NET CHG S&P 500 1,961.63 -0.15 % -2.95 NIKKEI 15329.91 -0.38 % -58.81 MSCI ASIA EX-JP 475.57 0.46 % 2.17 EUR/USD 1.27 0.02 % 0.0003 USD/JPY 107.85 0.04 % 0.0400 10-YR US TSY YLD 2.252 -- -0.01 10-YR BUND YLD 0.873 -- 0.00 SPOT GOLD $1,228.57 0.28 % $3.43 US CRUDE $80.73 -0.33 % -0.27 > GLOBAL MARKETS-ASIAN SHARES, DOLLAR TREAD CAUTIOUSLY AHEAD OF FED > WALL ST FLAT AFTER LAST WEEK'S BIG GAIN; ENERGY WEIGHS > TOKYO'S NIKKEI SHARE AVERAGE CLOSES DOWN 0.38 PCT > TREASURIES-U.S. BOND PRICES EDGE UP ON WEAK DATA, BRAZILIAN ELECTION > DOLLAR STRUGGLES AS SOFT DATA PUSH YIELDS LOWER, FED AWAITED > PRECIOUS-GOLD RECOVERS FROM 2-WEEK LOW, ALL EYES ON FED MEET > METALS-LME COPPER HOVERS NEAR 2-WEEK HIGH, SUPPLY CONCERNS SUPPORT > BRENT FALLS TOWARDS $85 AMID SUPPLY GLUT, LOWER PRICE FORECASTS COMPANY NEWS: UBS UBS said it booked 1.8 billion Swiss francs ($1.9 billion) in third-quarter charges as it discusses a settlement to a investigation that it and other banks rigged foreign exchange rates. Even including the charge, UBS posted a 32 percent rise in quarterly profit, beating forecasts. NOVARTIS The Swiss drugmaker reported better-than-expected results on Tuesday, as a pre-tax gain from the sale of its Idenix shareholding offset full copycat competition to its former best-selling blood pressure pill Diovan. HOLCIM, LAFARGE The two building materials groups said on Tuesday they had formally notified the European Commission of their merger plan. STANDARD CHARTERED PLC The lender said operating profit for the third quarter fell 16 percent, hurt by rising costs from the restructuring of its South Korean business and a doubling of impaired loans. MONTE PASCHI DI SIENA Italy's Monte dei Paschi di Siena is likely to have to sell assets to fill a capital hole uncovered by European regulators, with shareholders reluctant to stump up cash after a recent fundraising and would-be buyers of the bank holding back. UNICREDIT UniCredit, Italy's biggest bank by assets, does not plan to distribute excess capital, Chief Executive Federico Ghizzoni said on Monday. MEDIOBANCA Italy's top investment bank said on Tuesday its net profit fell 6.4 percent in the first three months of its financial year as one-off capital gains boosted the previous year's figure. CELESIO German drug distributor lowered its 2014 operating profit forecast on Tuesday, saying the unfavourable situation in Germany, France and Brazil was affecting earnings more than previously expected. TECHNIP The oil services company said that in a joint venture with Fluor Corporation, it won an engineering, procurement, and construction management contract from Sasol for its world scale ethane cracker and derivatives complex near Lake Charles, Louisiana. Financial terms were not disclosed. KVAERNER The Norwegian oil services firm which builds large structures like platforms, posted third-quarter earnings above expectations on Tuesday and raised its full-year revenue guidance. (Reporting by Blaise Robinson)
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