European Factors to Watch-Shares seen higher after Greece deal

lunes 23 de febrero de 2015 03:33 GYT
 

(Updates futures prices, adds  company news)
    LONDON, Feb 23 (Reuters) - European shares headed for a higher open on
Monday, with British and German share indexes seen hovering around their record
highs after euro zone negotiators agreed to extend Greece's bailout.
    At 0731 GMT, futures for the Euro STOXX 50, Germany's DAX 
and France's CAC were up 0.7-0.9percent.
    Athens clinched a deal on Friday to avoid a banking collapse by accepting a
conditional extension of its bailout programme. The accord requires Greece to
submit by Monday a letter to the Eurogroup listing all the policy measures it
plans to take during the remainder of the bailout period. 
    "Our base case scenario is that Greece will remain in the Eurozone and that
a compromise on future financial support will be found based on lower interest
rates and longer maturities on Greece's bailout loans, as well as greater fiscal
flexibility," UBS said in a note. 
    "However, we do not envisage concessions in the form of outright debt
haircuts and - importantly - a reversal in structural reforms. Against this
background, we cannot rule out a scenario where negotiations will stay tense."
    The Greek stock market is closed on Monday for a public holiday.
    On Friday, Germany's DAX closed 0.4 percent higher at 11,050.64
points - its highest ever closing level and near a record intra-day peak of
11,081.81 points set earlier in the day. Britain's FTSE 100 index ended
0.4 percent higher at 6,915.20 points, just below a 15-year high of 6,921.32 hit
on Wednesday and a record peak of 6,950.60 scaled in late 1999.
    
    COMPANY NEWS
    HOLCIM 
    Swiss cement maker Holcim reported a 1 percent increase in 2014 net profit
attributable to shareholders to 1.29 billion Swiss francs ($1.37 billion) per
share as it exceeded its cost-cutting target, beating expectations. For more,
click on 
    
    HSBC 
    Europe's biggest bank, HSBC, said its chief executive, Stuart Gulliver,
holds a bank account in Switzerland that was set up in 1998 to hold bonus
payments, responding to a report in the Guardian newspaper that said he had a
Swiss account that contained $7.6 million in 2007. 
    
    NESTLE 
    Nestle is looking into measures to boost productivity in Switzerland,
including increasing working hours, after the central bank removed its cap on
the Swiss franc, its Europe chief was quoted as saying in a Swiss paper on
Sunday. For more, click on 
     
    IAG 
    A trade union group representing Aer Lingus workers has reversed
its position and said it will now back a takeover approach by IAG after the
British Airways and Iberia owner laid out its growth plans for the Irish
airline. 
    
    ASSOCIATED BRITISH FOODS 
    The company maintained full year earnings expectations, with growth at its
Primark discount fashion chain and progress at its grocery, ingredients and
agriculture businesses offsetting continued weakness in its sugar operation.
 
    
    AREVA 
    French state-controlled nuclear group Areva said on Monday its unaudited
2014 accounts showed it would post a net loss of about 4.9 billion euros ($5.57
billion), stemming mostly from provisions and asset writedowns. 
    
    LLOYDS BANKING GROUP 
    State-backed Lloyds said on Monday that the British government had reduced
its stake in the bank to 23.9 percent from 24.9 percent previously.
 
    
    POSTNL 
    The Netherlands-based mail and package deliverer on Monday reported
better-than expected fourth quarter profit and forecast a rise in underlying
earnings for 2015. 
    
    DEUTSCHE BANK 
    Co-Chief Executive Anshu Jain is arguing against holding on to a stake in
Chinese bank Hua Xia as Deutsche reconsiders its near-universal
range of banking services, weekly WirtschaftsWoche reported. 
    Separately, the Wall Street Journal reported that European banks including
Deutsche Bank and Banco Santander are likely to fail the U.S. Federal
Reserve's stress test over shortcomings in how they measure and predict
potential losses and risks. 
    
    RSA 
    RSA Insurance Group Chief Executive Stephen Hester is set to unveil a deeper
cost-cutting plan at the London-based general insurance provider as it works to
turn around its business, the Financial Times reported. 
    
    THOMAS COOK 
    British holiday company Thomas Cook Group is seeking to sell its airline
business as part of a cost-saving plan, the Sunday Times newspaper reported,
without citing its sources. 
    
    DIA 
    Spanish discounter DIA posted a 68 percent rise in full-year net profit to
329.2 million euros ($374.53 million) as its purchase of supermarket peer El
Arbol gave it a tax lift offseting falling prices in core markets Spain and
Portugal. 
  
    VOLKSWAGEN 
    The carmaker won approval from Thai authorities to build a manufacturing
plant for fuel efficient cars near Bangkok after months of delays but has yet to
decide whether to build the factory. 
    
    AAREAL BANK 
    The bank agreed to buy commercial property lender Westdeutsche
Immobilienbank (WestImmo) for 350 million euros ($398 million) from
Erste Abwicklungsanstalt. 
    
    SANOFI 
    The drugmaker's new boss, Olivier Brandicourt, could earn up to 4.2 million
euros a year at the drugs group and pocket an extra 4 million euros within 12
months as a one-off golden handshake. 
    
    UNIBAIL, KLEPIERRE, ALTAREA 
    U.S. real estate investment management firm CBRE Global Investors aims to
raise 1.2 billion euros by selling 10 shopping malls in France and Belgium,
according to French newspaper Le Figaro. 
    
    SOCIETE GENERALE 
    Exchange operator CME Group Inc said it fined derivatives broker
Newedge USA, a unit of the French bank, $1.75 million for violating rules in
metals markets over two years. 
    
    AIRBUS 
    South Korea's top air carrier Korean Air Line Co. has signed a memorandum of
understanding (MOU) with Europe's Airbus to jointly bid for Seoul's indigenous
fighter development project, Korean Air officials said Sunday, Yonhap News
Agency reported.
 
        
    U.S. COMPANIES REPORTING :
    Q4 2014 Express Scripts Holding Co        
    Q4 2014 ONEOK Inc.                        
    Q4 2014 Tenet Healthcare Corp             
    
    MACROECONOMIC DATA/EVENTS (GMT)  :
    0900 DE Ifo Business Climate
    1330 US National Activity Index 
    1500 US Existing Home Sales 
------------------------------------------------------------------------------
  MARKET SNAPSHOT AT 0610 GMT: 
                                            LAST   PCT CHG      NET CHG
 S&P 500                                2,110.30    0.61 %        12.85
 NIKKEI                                 18466.92    0.73 %       134.62
 MSCI ASIA EX-JP                          484.67    0.01 %         0.04
 EUR/USD                                  1.1375   -0.03 %      -0.0003
 USD/JPY                                  118.98   -0.03 %      -0.0300
 10-YR US TSY YLD                          2.110        --        -0.02
 10-YR BUND YLD                            0.393        --         0.02
 SPOT GOLD                             $1,202.76    0.07 %        $0.85
 US CRUDE                                 $50.68   -0.26 %        -0.13
  > ASIAN SHARES FLAT AS INVESTORS DIGEST GREEK DEAL 
  > DOW, S&P 500 CLOSE AT RECORD HIGHS ON GREECE DEBT DEAL 
  > NIKKEI RISES TO NEW 15-YEAR HIGH ON GREEK DEAL 
  > TREASURIES-PRICES FALL AFTER GREEK BAILOUT AGREEMENT 
  > EURO OUT OF STEAM AFTER RISING ON GREEK DEBT DEAL 
  > GOLD NEAR 7-WEEK LOW ON GREEK DEBT DEAL, CHINA HOLIDAY 
  > LONDON COPPER MARKS TIME WITH CHINA ON HOLIDAY 
  > OIL EDGES UP ON GREEK DEBT OPTIMISM 

 (Reporting by Atul Prakash)