Europe Factors to Watch-Shares set to halt sell-off; Adecco eyed

miércoles 11 de marzo de 2015 03:34 GYT
 

PARIS, March 11 (Reuters) - European stocks were set to inch up on
Wednesday, halting the previous session's sell-off, with Adecco in
focus after its fourth-quarter profit beat expectations.
    The world's largest staffing group said it expects a pick-up in economic
growth to increase demand for flexible labour this year, putting it on track to
hit its margin target in 2015. 
    E.ON will also be in the spotlight after Germany's largest
utility reported its biggest ever annual loss mainly due to the impact of power
plant writedowns following a steep decline in wholesale electricity prices
across Europe. 
    German reinsurer Munich Re will buy back up to 1 billion euros
($1.1 billion) of its own shares by late April 2016, bolstering efforts to
return capital to shareholders that it cannot put to work in an insurance market
where prices are under pressure.
    Credit Suisse shares were set to rise again, up 3.1 percent in
premarket indications. The stock surged nearly 8 percent on Tuesday after the
Swiss lender said it had hired Prudential head Tidjane Thiam as its new
CEO. 
    At 0733 GMT, futures for Euro STOXX 50, for Germany's DAX 
and for France's CAC were up 0.1-0.3 percent.
    U.S. stocks dropped on Tuesday, with the S&P 500 falling 1.7 percent,
 its biggest decline in two months, on increasing views the U.S. Federal Reserve
may raise interest rates as soon as June. 
       
------------------------------------------------------------------------------
  MARKET SNAPSHOT AT 0733 GMT: 
                                         LAST   PCT CHG  NET CHG
 S&P 500                             2,044.16    -1.7 %   -35.27
 NIKKEI                              18723.52    0.31 %    58.41
 MSCI ASIA EX-JP                       470.84   -0.57 %    -2.68
 EUR/USD                               1.0676    -0.2 %  -0.0021
 USD/JPY                               121.25     0.1 %   0.1200
 10-YR US TSY YLD                       2.107        --    -0.02
 10-YR BUND YLD                         0.204        --    -0.03
 SPOT GOLD                          $1,163.20    0.17 %    $2.02
 US CRUDE                              $48.78    1.01 %     0.49
  > GLOBAL MARKETS-ASIA STOCKS FALL ON FED NERVES 
  > US STOCKS-S&P 500 POSTS WORST DAY IN 2 MONTHS ON RATE WORRIES 
  > TOKYO'S NIKKEI SHARE AVERAGE CLOSES UP 0.31 PCT 
  > TREASURIES-EUROPEAN CENTRAL BANK BOND BUYING FUELS U.S. RALLY 
  > EURO LANGUISHES AT 12-YEAR LOWS VS DOLLAR AFTER ECB BEGINS QE 
  > PRECIOUS-GOLD STUCK NEAR 3-MONTH LOW AS DOLLAR STRENGTH WEIGHS 
  > METALS-COPPER STEADY NEAR TWO WEEK LOWS AS DOLLAR RALLY PAUSES 
  > BRENT REBOUNDS TOWARDS $57 AFTER U.S. CRUDE STOCKS FALL 
    
    COMPANY NEWS:
    
    E.ON 
    Germany's largest utility E.ON reported its biggest ever annual loss mainly
due to the impact of power plant writedowns following a steep decline in
wholesale electricity prices across Europe. 
    
    MUNICH RE 
    German reinsurer will buy back up to 1 billion euros ($1.1 billion) of its
own shares by late April 2016, bolstering efforts to return capital to
shareholders that it cannot put to work in an insurance market where prices are
under pressure. 
    
    DEUTSCHE POST 
    The postal and logistics company forecast profits of up to 3.2 billion euros
($3.42 billion) in 2015 thanks to growth in time-sensitive express deliveries
and its parcel business offsetting weak freight forwarding results. 
    
    EDF  
    The French state-controlled utility should consider a capital increase or
partnerships with foreign utilities to finance the upgrade of its ageing nuclear
fleet, a long-awaited parliament report on power tariffs said on Tuesday.
 
    
    MICHAEL PAGE 
    The staff recruitment firm posted a 17 percent rise in full-year pretax
profit on Wednesday, boosted by strong demand for permanent jobs in UK, Germany,
the U.S. and Greater China. 
    
    AREVA 
    The lossmaking French nuclear group is set to make 1,000 new job cuts at its
German operation, Les Echos newspaper reported citing an announcement made there
by Chief Executive Philippe Knoche to worker representatives.
    
    HEINEKEN 
    The Dutch brewer said it would invest 7.5 billion Mexican pesos ($480
million) to build a brewery in Mexico to supply U.S. and Mexican markets.
 
    
    MAN SE 
    Man is targeting flat operating profit and sales this year as weak demand
for trucks in core markets is weighing on results, after posting higher earnings
last year. The Volkswagen-owned truck manufacturer said on Wednesday operating
profit at its core truck division. 
    
    BAYER 
    Germany's largest drugmaker Bayer aims to increase sales of its main
HealthCare division by 6 percent per year on average through 2017 to more than
25 billion euros ($26.7 billion), hoping to capitalise on new drugs such as
stroke prevention pill Xarelto. 
    
    BWIN.PARTY 
    The online gambling company in talks with suitors over potential offers for
the firm, said the decline of regulated poker markets in Europe had hit its
earnings in 2014. 
    
    SIEMENS 
    European Union antitrust regulators have extended their investigation into
Siemens' $7.6-billion proposed takeover of U.S. oilfield equipment maker
Dresser-Rand Group Inc, the European Commission said. 
    
    FIAT CHRYSLER AUTOMOBILES 
    CEO Sergio Marchionne sold 1.4 million shares in the carmaker to fund tax
liabilities, the company said in a statement. The shares were sold on the open
market at an average price of 14.12 euros per share, leaving Marchionne with 13
million FCA common shares. 
            
    JC DECAUX  
    JCDecaux Holding, the holding company of the Decaux family, is to sell 12
million shares in JCDecaux in an accelerated bookbuild, the firm said on
Tuesday. 
    
    DEUTSCHE TELEKOM 
    Poland's largest media group Cyfrowy Polsat's mobile arm Polkomtel
 said on Tuesday it has stopped active bidding in a local auction for
fast mobile broadband frequencies, in which Deutsche Telekom is also bidding.
 
    
    EURONEXT 
    Euronext plans to drop its established wheat futures before the 2018 harvest
in favour of a just-launched premium wheat contract, the exchange said on
Tuesday, shrugging off an awkward start for the new product.  
    
    AGFA-GEVAERT 
    Belgian graphics group on Wednesday said its margins contracted in the final
quarter of 2014, as profits fell in its printing business due to declining
income from analogue products and tough competition.
    
    LAGARDERE 
    French media to distribution group Lagardere is targeting 5
percent operating profit growth for 2015 and organic revenue growth of 3 percent
a year for the next five years, Chairman and Chief Executive Arnaud Lagardere
told Les Echos newspaper in an interview. 
    
    BASF 
    The chemical firm said late on Tuesday that it has acquired nanowire
technology from San Diego-based Seashell Technology LLC. 
    
    FUGRO 
    Dutch marine engineer said on Wednesday it has been summoned to court by
shareholder and larger business rival Boskalis BOSN.AS to permit a vote on
removing a poison pill at its annual general meeting in April. 
    
    BIOMERIEUX 
    French medical diagnostics specialist said 2015 would "probably be marked by
a persistently tight economic environment." and set itself an organic revenue
growth objective of between 4.5 percent and 6.5 percent for the year, at
constant exchange rates and scope of consolidation. It said its 2014 results
were in line with its predictions. 
    
    

 (Reporting by Blaise Robinson)