UPDATE 4-European Factors to Watch-Shares seen down on China data
(Adds company news) LONDON, Feb 9 (Reuters) - European shares headed for a lower open on Monday, tracking losses on Wall Street and in Asia, with disappointing Chinese trade data further raising concerns about the pace of economic growth in the world's second-biggest economy. At 0744 GMT, futures for Euro STOXX 50, Germany's DAX and France's CAC were down 0.8 to 1.2 percent. Data on Sunday showed that China's trade performance slumped in January, with exports falling 3.3 percent from year-ago levels and imports slipping 19.9 percent, far worse than analysts had expected. The slide in imports is the sharpest since May 2009, when Chinese factories were still slashing inventories in reaction to the global financial crisis. Exports have not produced a negative annual reading since March 2014. "Overnight data from China ... has continued to stoke the fears of a slowdown in the world's second largest economy," Jonathan Sudaria, analyst at Capital Spreads, said in a note. "The tension in Greece also continues to ratchet up." Leftist Prime Minister Alexis Tsipras laid out plans on Sunday to dismantle Greece's "cruel" austerity programme, ruling out any extension of its international bailout and setting himself on a collision course with his European partners. In his first major speech to parliament since storming to power last month, Tsipras rattled off a list of moves to reverse reforms imposed by European and International Monetary Fund lenders: from reinstating pension bonuses and cancelling a property tax to ending mass layoffs and raising the mininum wage back to pre-crisis levels. Greek Finance Minister Yanis Varoufakis said on Sunday that if Greece is forced out of the euro zone, other countries will inevitably follow and the currency bloc will collapse. Greece's new leftist government is trying to re-negotiate its debt repayments and has begun to roll back austerity policies agreed with its international creditors. Moody's said late on Friday it was placing Greece's government bond rating of Caa1 on review for downgrade as the agency warned that there was great uncertainty as to the result of talks between the country and its creditors, while Standard & Poor's also cut Greece's rating on Friday. On the data front, German exports posted their biggest increase since September in December while imports fell, data from the Federal Statistics Office showed on Monday. Seasonally-adjusted exports rose by 3.4 percent on the month, beating a consensus forecast for a 1.0 percent gain. COMPANY NEWS: HSBC The British bank admitted on Sunday failings by its Swiss subsidiary, in response to media reports it helped wealthy customers dodge taxes and conceal millions of dollars of assets. BARCLAYS, UBS The U.S. Department of Justice is examining currency-linked investments offered by Barclays and UBS, the Financial Times reported on Sunday. STANDARD CHARTERED Standard Chartered will shift its retail bank's focus from mass market to affluent customers and urge more customers online as part of a broader turnaround strategy for the lender, a senior executive told Reuters. AREVA French nuclear group Areva could post losses of more than three billion euros for 2014, French newspaper Le Journal du Dimanche (JDD) reported, citing a person close to the company. CREDIT SUISSE GROUP Credit Suisse is launching a specialty finance company to invest in the unrated debt of small or midsize U.S. companies, the Wall Street Journal reported on Sunday. INTERNATIONAL CONSOLIDATED AIRLINES GROUP The owner of British Airways is running out of time to secure Ireland's Aer Lingus as questions over its commitment to keep jobs and key Heathrow routes stoke opposition from politicians facing a tough election next year. RANDGOLD RESOURCES Gold mining group Randgold posted a drop in annual profits but raised its total dividend. ROCHE The drugmaker said the U.S. Food and Drug Administration approved lucentis (ranibizumab injection) for treatment of diabetic retinopathy in people with diabetic macular edema. SANTANDER Spain's Santander plans to sell up to 100 million euros of five-year structured debt to retail investors via its Emisora Santander Espana SAU unit, according to a filing with Spain's stock market commission. AIR FRANCE-KLM Air France-KLM saw passenger traffic slip 0.5 percent year-on-year last month, driven by weakness on its Africa and Middle East routes, data showed. LUFTHANSA, FRAPORT German trade union Verdi has called on security personnel to go on strike at three German regional airports - Hamburg, Stuttgart and Hanover - on Monday, leading airline Lufthansa to cancel 18 planned flights. Separately, German airport operator Fraport expects Greece's new government to honour a $1.4 billion deal for Fraport to run 14 regional airports, its finance chief said on Saturday, in contrast to other key privatisation projects halted by Athens. VOLKSWAGEN The German carmaker Volkswagen has no plans to close any factories as part of its cost-cutting plan, Chief Executive Martin Winterkorn said on Saturday. METRO Big stakeholder Haniel said it would make no sense to sell its stake in retail group Metro because the shares are undervalued and because there are few other, interesting investment opportunities, Haniel head Stephan Gemkow said in newspaper Welt am Sonntag. EDF The French government has asked state-owned utility EDF to be transparent about its overseas operations to ensure that none were set up to avoid taxes, the finance ministry said. EIFFAGE, VINCI French President Francois Hollande said on Saturday he hoped a deal to end a dispute over toll-road tariffs, that has hit shares of motorway operators like Eiffage and Vinci, would come within days. DASSAULT AVIATION French Defence Minister Jean-Yves le Drian said "advanced" talks with Egypt were being conducted over a potential sale of Dassault Aviation Rafale fighter jets. U.S. COMPANIES REPORTING : Q3 2015 Computer Sciences Corp Q4 2014 Dun & Bradstreet Corp Q4 2014 Diamond Offshore Drilling Q4 2014 Hasbro Inc Q4 2014 Masco Corp ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0637 GMT: LAST PCT CHG NET CHG S&P 500 2,055.47 -0.34 % -7.05 NIKKEI 17711.93 0.36 % 63.43 MSCI ASIA EX-JP 478.82 -0.67 % -3.25 EUR/USD 1.1325 0.11 % 0.0012 USD/JPY 118.83 -0.11 % -0.1300 10-YR US TSY YLD 1.919 -- -0.02 10-YR BUND YLD 0.366 -- -0.01 SPOT GOLD $1,238.80 0.45 % $5.58 US CRUDE $51.98 0.56 % 0.29 > ASIA SHARES STUMBLE AS WEAK CHINA TRADE STOKES GROWTH WORRIES > WALL ST ENDS DOWN ON INTEREST RATE, GREECE JITTERS > NIKKEI EDGES UP AFTER STRONG US JOBS BUT CHINA WORRIES LIMIT GAINS > YIELDS JUMP, CURVE FLATTENS AFTER STRONG JOBS REPORT > DOLLAR PULLS BACK AFTER JOBS-INSPIRED RALLY, GREECE BACK IN FOCUS > GOLD GAINS ON WEAKER ASIAN SHARES, STILL NEAR 3-WEEK LOW > LONDON COPPER SLIPS AFTER WEAK CHINA TRADE DATA > OIL STEADIES AFTER WEAK CHINESE TRADE DATA (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)
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