Europe Factors to Watch-Shares set to dip on Greece worries, China data

martes 10 de marzo de 2015 03:27 GYT
 

PARIS, March 10 (Reuters) - European stocks were set to dip on Tuesday,
extending the previous session's retreat, as poor data from China and renewed
worries over Greece weighed on sentiment.
    Shares in Credit Suisse will be in focus after the lender said
long-standing chief executive Brady Dougan will be replaced by Prudential
 head Tidjane Thiam. 
    Tech shares will also be in the spotlight after Apple Inc launched
its long-awaited watch on Monday, sending its shares slightly higher.
 
    At 0726 GMT, futures for Euro STOXX 50, for Germany's DAX 
and for France's CAC were down 0.1-0.3 percent.
    Euro zone ministers agreed technical talks between finance experts from
Athens and its international creditors would start on Wednesday, but warned
Greece it had "no time to lose". 
    On the macro front, data showed the pace of Chinese inflation unexpectedly
picked up in February, but producer prices continued to slide, underscoring the
intense pressure on profit margins at Chinese companies and adding urgency to
policymakers' efforts to find new ways to support growth. 
    
------------------------------------------------------------------------------
  MARKET SNAPSHOT AT 0726 GMT: 
                                         LAST   PCT CHG  NET CHG
 S&P 500                             2,079.43    0.39 %     8.17
 NIKKEI                              18665.11   -0.67 %  -125.44
 MSCI ASIA EX-JP                       474.86   -0.74 %    -3.53
 EUR/USD                               1.0805   -0.41 %  -0.0045
 USD/JPY                               121.73    0.48 %   0.5800
 10-YR US TSY YLD                       2.186        --    -0.01
 10-YR BUND YLD                         0.299        --    -0.01
 SPOT GOLD                          $1,161.40   -0.44 %   -$5.15
 US CRUDE                              $49.91   -0.18 %    -0.09
 
  > GLOBAL MARKETS-DOLLAR AT 12-YR PEAK, EMERGING MARKETS SPOOKED 
  > US STOCKS-WALL ST REBOUNDS ON DEAL ACTIVITY; APPLE UP AFTER WATCH NEWS 
  > TOKYO'S NIKKEI SHARE AVERAGE CLOSES DOWN 0.67 PCT 
  > TREASURIES-EURO BOND PURCHASES WEIGH ON U.S. YIELDS 
  > FOREX-DOLLAR HITS MULTI-YEAR HIGHS VS EURO AND YEN 
  > GOLD HOLDS NEAR 3-MONTH LOW ON U.S. RATE EXPECTATIONS 
  > METALS-LONDON COPPER TURNS LOWER AS DOLLAR FIRMS 
  > BRENT STEADIES ABOVE $58.50 AFTER CHINA DATA; STRONG DOLLAR HURTS 
    
    COMPANY NEWS:
    CREDIT SUISSE 
    Credit Suisse said it will appoint Tidjane Thiam as chief executive, to
replace Brady Dougan, who will step down at the end of June 2015. 
    
    TECH STOCKS
    Apple Inc launched its long-awaited watch on Monday, including
yellow or rose gold models with sapphire faces costing up to $17,000, but some
investors questioned whether Chief Executive Tim Cook's first product would be a
breakaway hit. 
    
    HANNOVER RE 
    German resinsurer raised its dividend to 4.25 euros per share for 2014,
including a special dividend, from 3 euros previously, after a better than
expected 10 percent gain in net income for the year. 
        
    SYMRISE 
    The fragrance and flavours maker posted a better-than-expected 24 percent
gain in 2014 underlying core earnings on Tuesday, helped by the recent takeover
of pet food flavouring company Diana group. 
    
    RWE 
    Debt-laden utility RWE expects profit to fall for a third consecutive year,
blaming a mix of low wholesale power prices and a boom in renewable energy
capacity after Germany's shift away from nuclear. 
    
    RIO TINTO 
    The global miner said it expects about 85 million tonnes of excess iron ore
supply to exit the global market in 2015. 
    
    HSBC 
    Argentina wants HSBC Holdings Plc to repatriate $3.5 billion that it says
the bank's Argentine branch moved offshore to help clients evade taxes and move
capital abroad, the country's tax chief said on Monday. 
    
    COMMERZBANK 
    The Financial Times reports that U.S. regulators are insisting several
Commerzbank executives resign as part of a $1.45 billion settlement for
anti-money laundering breaches and sanctions laws. 
    
    BANKS
    The Nikkei business daily said the proposal to boost banks' capital has been
shepherded through the Basel Committee on Banking Supervision by the U.K. and
Germany, which are concerned about a rise in rates, but Japan and the U.S. have
raised strong opposition. 
    
    ITALIAN BANKS
    Italy is in technical discussions with the European Commission over its
plans to form a vehicle, known as a "bad bank," to help its banks offload soured
loans, Economy Minister Pier Carlo Padoan said on Monday. 
    Standard & Poor's expects Italy's weak economy to continue to hurt its
banks' asset quality and profitability this year, but ratings assigned by the
agency to the country's lenders already incorporate the likely impact.
 
    
    AREVA, EDF 
    The French government has no plans to merge utility EDF with nuclear group
Areva but the two state firms could forge an industrial alliance and EDF may
consider a capital investment in Areva's reactor business, Economy Minister
Emmanuel Macron told Reuters. 
    
    AIRBUS 
    The aerospace group is confident it can stick to a reduced production target
of six aircraft a month for its A330 wide-body jet, its sales chief said.
    Separately, Bloomberg reported that Airbus is planning the sale of its
satellite communications company Vizada and its majority stake in structural
components maker PFW Aerospace. 
    
    CREDIT AGRICOLE 
    The bank's retail banking arm LCL plans to cut over 1,600 jobs at its
branches and among back office roles, amounting to about 10 percent of its
workforce, les Echos newspaper reported on its web site. 
    
    AIR FRANCE-KLM 
    Air France-KLM  airline group "must reform or decline", the group's chairman
and chief executive Alexandre de Juniac said in an interview with Les Echos
newspaper as he launched a new push to secure trade union agreements for his
latest cost-cutting plan. 
    Separately, aviaton experts said European airlines face further
restructuring and consolidation to close a gap in profitability with industry
kingpins in North America. 
    
    TF1 
    Eight French nationals including celebrity yachtswoman Florence Arthaud,
Olympic swimmer Camille Muffat and boxer Alexis Vastine were among 10 killed
when two helicopters collided in Argentina on Monday while filming a French
reality TV show. Broadcaster TF1, which had backed the show, expressed sadness
and solidarity for the victims' families. 
    
    VINCI, EIFFAGE 
    Users can expect price increases of 0.27 to 1.41 percent if the government
goes ahead with a plan to rewrite rules on highway concessions, said a Socialist
lawmaker who resigned in protest from a commission on the issue. Those would be
on top of a 1.5 percent rise to compensate for higher property taxes, he said in
an interview with le Parisien newspaper.
    Seperately, Economy Minister Emmanuel Macron told the AFP that the
government wanted to "completely revisit" the highway concession contracts held
by groups including Vinci and Eiffage.
    
    
    
    
    
    

 (Reporting by Blaise Robinson)