Europe Factors to Watch-Shares set to inch higher as euro dips

lunes 13 de abril de 2015 02:27 GYT

PARIS, April 13 (Reuters) - European stocks were set to inch higher on
Monday, adding to last week's sharp gains as weakness in the euro fuelled
expectation of a bounce in the region's corporate profits.
    The euro traded at $1.0592, down 0.1 percent on the day after having
touched a 3 1/2-week low of $1.0567 to record its fifth straight day of losses
on Friday.
    Investors have been dumping the single currency as the European Central
Bank's asset-buying programme launched last month has been driving down euro
zone bond yields to negative levels in many countries.
    Data from U.S. financial watchdog showed late on Friday speculators' net
short position against the euro remained near record high. 
    Greece will be eyed again on Monday after euro zone sources told the
Frankfurter Allgemeine Sonntagszeitung that they were shocked at Greece's
failure to outline plans for structural reforms at last week's talks in
    A meeting of deputy finance ministers on Thursday gave Athens a six working
day deadline to present revised economic reform plans before euro zone finance
ministers meet on April 24 to consider unlocking emergency funding to keep
Greece afloat. 
    At 0725 GMT, futures for Euro STOXX 50, for Germany's DAX 
and for France's CAC were up 0.05-0.10 percent. Futures for FTSE 100
 were down 0.3 percent, with heavyweight miners set to feel the pinch
from poor Chinese macro figures.
    Data showed China's export sales contracted 15 percent in March while import
shipments fell at their sharpest rate since the 2009 global financial crisis, a
shock outcome that deepens concern about sputtering Chinese economic growth.
    Citigroup analysts wrote in a note on Monday iron ore will fall to $36 a
tonne in the third quarter and stay below $40 for the rest of the year as big
miners boost supply even further and China's demand declines.
    Iron ore prices for future delivery have slid 30 percent in the space of a
month, and the outlook for the commodity is now more bearish than oil and more
dire than ever for miners struggling to just stay in business. 
                                         LAST   PCT CHG  NET CHG
 S&P 500                             2,102.06    0.52 %    10.88
 NIKKEI                              19905.46   -0.01 %    -2.17
 MSCI ASIA EX-JP                       512.51    0.38 %     1.94
 EUR/USD                               1.0596   -0.06 %  -0.0006
 USD/JPY                               120.35    0.12 %   0.1400
 10-YR US TSY YLD                       1.937        --    -0.02
 10-YR BUND YLD                         0.149        --    -0.01
 SPOT GOLD                          $1,204.70   -0.24 %   -$2.95
 US CRUDE                              $51.71    0.14 %     0.07
  > GLOBAL MARKETS-Asian shares have a lacklustre start to the week 
  > GE sparks broad Wall St rally; indexes post weekly gains 
  > Nikkei steady as investors pause after rally; automakers, insurers down 
  > TREASURIES-Prices edge up as investors look to slew of data next week 
  > FOREX-Euro on defensive on yield pressure, Greece concerns 
  > Gold holds above $1,200, but U.S. rate hike worries weigh 
  > London copper steady as import jump offsets weak China data 
  > Oil edges up as financial traders bet on higher prices 
    The carmaker has plunged into a full-blown leadership crisis after Chief
Executive Martin Winterkorn let it be known on Saturday he will fight for his
job even though the chairman has reportedly withdrawn confidence in the CEO.
    Norwegian energy firm Statoil may cut more than 10 percent of its
workforce to reduce costs and could announce the layoffs in May, business daily
Dagens Naeringsliv said on Monday. 
    Seismic explorer TGS cut its full-year revenue guidance on Monday and said
it would lay off 10 percent of its workforce in April as the market for seismic
oil and gas data has deteriorated. 
    The industrial group has seen sales in Russia plunge by about half due to
the country's economic demise, Bild am Sonntag reported, citing Chief Executive
Joe Kaeser. 
    Spanish infrastructure company Abertis is eying potential acquisitions after
the public offering of its unit Cellnex, including Spain's Itinere and the
Italian highway Serenissima, Expansion said on Monday citing sources close to
the company. 
    Danish telecom company is conducting a strategic review of its TDC Hosting
business, it said on Monday. 
    Julius Baer has not held talks with larger rival Credit Suisse about
merging, the Swiss private bank's chief executive said in comments made in the
weekly Schweiz am Sonntag. 
    French media group Vivendi, with cash to spend after selling a chunk of its
business, has no plans to bid for smaller rival Lagardere, a spokesman said.
    Property group Thanlyin Estate Development has chosen a consortium,
including Dragages Singapore, a subsidiary of Bouygues Construction, for the
design and construction of a new phase of Star City. Contract is worth total of
$125 million  (about 110 million euros), of which Bouygues Construction's share
is valued at about 65 million euros. 
    The Italian lender said on Friday it had overstepped regulatory limits with
regards to its financial exposure to Japanese bank Nomura 8604.T, in a surprise
disclosure that could raise questions about whether its plans to raise capital
and seek a buyer are on track. 
    Italy's biggest cooperative banks are bracing for a wave of mergers
following a government reform that forces them to convert into joint stock
companies within 18 months. 
    The firm will not abandon its A380 jumbo jet programme despite slow sales,
its chief executive told Les Echos newspaper, and needs more time to decide
whether to redesign its engines as major customer Emirates Airline has
    Indian Prime Minister Narendra Modi has ordered 36 "ready-to-fly" Rafale
fighter jets made by Dassault Aviation to modernise his country's ageing
warplane fleet as neighbouring states upgraded their military hardware.
    The shares of Alcatel-Lucent jumped on Friday after it emerged that rival
Nokia is considering selling its maps business known as 'HERE'. Some investors
believe Nokia could use the proceeds to bid for Alcatel-Lucent or its wireless
    Argentina will appeal an order by international arbitrators that it pay Suez
Environnement $405 million in damages relating to the termination of a water
management contract, its economy minister said on Friday. 

 (Reporting by Blaise Robinson; Editing by Sudip Kar-Gupta)