European Factors to Watch-Shares seen higher after Greece deal
(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)
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