European Factors to Watch - Shares set to pause, banks in focus

martes 5 de mayo de 2015 02:46 GYT
 

GLASGOW, May 5 (Reuters) - European shares were set to pause at the open on
Tuesday after strong gains in the previous session, with the UK's top share
index set to outperform after a public holiday.
    Financials were set to be in focus after UBS said it is in
advanced talks with the U.S. Department of Justice (DOJ) to settle allegations
of foreign exchange market rigging, as Switzerland's biggest bank by assets
posted forecast-beating first-quarter earnings. 
    Another Swiss bank Credit Suisse has quietly withdrawn a request
for a waiver to raise capital more easily, after U.S. Securities and Exchange
Commission staffers told the bank in recent weeks it would not win approval,
people familiar with the matter told Reuters.
    Futures on the Euro Stoxx 50, German DAX and French CAC
 were all 0.1 percent to 0.3 percent lower by 0614 GMT.
    European shares advanced in thin trade on Monday, boosted by
better-than-expected German manufacturing data and merger and acquisition
speculation about chemicals companies. Germany's DAX rose 1.4 percent
    Trading volume was lighter than usual on most indexes because of a public
holiday in Britain, Europe's largest stock market. Futures on the FTSE 100
 were up 0.7 percent on Tuesday, with traders saying Britain's FTSE 100
 was set to play catch up with Europe after missing out on Monday's
gains.
    Some traders cited continued uncertainty over Greece as capping market gains
in the euro zone.
    Wide differences over pension and labour reforms continued to dog intensive
negotiations between Greece's leftist government and its international creditors
despite progress in other areas as the country's cash position becomes
increasingly critical. 
    "An agreement on Greek debt load remains elusive so waiting on the
side-lines could prove an acceptable approach," Derek Baker, trader at London
Capital Group, said in a note.
    Cement makers Holcim Ltd and Lafarge S.A. on Monday won
U.S. antitrust approval to merge after they agreed to divest assets, the Federal
Trade Commission.
    
    
    
    COMPANY NEWS
    
    CREDIT SUISSE 
    Credit Suisse has quietly withdrawn a request for a waiver to
raise capital more easily, after U.S. Securities and Exchange Commission
staffers told the bank in recent weeks it would not win approval, people
familiar with the matter told Reuters.
    For more, click on 
    
    UBS 
    UBS said it is in advanced talks with the U.S. Department of
Justice to settle allegations of foreign exchange market rigging, as
Switzerland's biggest bank posted forecast-beating first-quarter earnings. 
    For more, click on 
    
    HOLCIM, LAFARGE 
    Holcim Ltd, a Swiss cement maker, and Lafarge S.A., which is based
in Paris, on Monday won U.S. antitrust approval to merge after they agreed to
divest assets, the Federal Trade Commission.
    For more, click on 
    
    GLENCORE 
    Miner and commodity trader Glencore posted on Tuesday a 9 percent fall in
its first quarter copper production reflecting lower copper grades at its
Alumbrera and Antamina mines in South America and maintenance at its Collahuasi
mine. 
    
    ABERDEEN ASSET MANAGEMENT 
    British asset manager Aberdeen Asset Management posted a 25 percent jump in
first-half profits, boosted by a recent acquisition, but also saw more money
leave its funds on the back of market uncertainty.
    
    ROYAL DUTCH SHELL - Shell's quest to return to Arctic drilling for
the first time in three years could face delays after Seattle ruled that the
city's port must apply for a permit for the company to use it as a hub for
drilling rigs. 
    
    SANOFI 
    Rebel investors made a mark at the drugmaker's annual shareholder meeting as
resolutions approving millions of euros paid to attract a new boss and pay off
the one it had sacked were passed with fewer than two out of three votes cast.
 
    
    VINCI 
    The construction and concessions group said it completed the acquisition of
Indonesian company PT Istana Karang Laut, which is active in the upstream and
downstream sectors of Asia's oil and gas industry, and has annual revenue of
around 30 million euros. 
    
    CREDIT AGRICOLE 
    Credit Agricole appointed the head of its Credit Agricole Assurances and
Predica insurance businesses as chief financial officer to replace Bernard
Delpit, who is leaving the French bank to take up the same role at aerospace
group Safran. 
    
    GDF SUEZ, AREVA 
    French gas and power group GDF Suez is interested in some of the activities
of nuclear firm Areva, a spokesman for the company said. 
    Areva said it won a contract from Exelon Nuclear to supply 30 additional
used fuel storage modules at the Nine Mile Point nuclear station in Scriba, New
York.  
    
    
    SAINT-GOBAIN 
    The Swiss financial regulator denied an appeal by investors including Bill
Gates over a proposed 2.75 billion Swiss franc ($3 billion) takeover of Swiss
firm Sika by French rival Saint-Gobain. 
    
    CARMAT 
    The company said its second artifical heart patient died on Saturday, nine
months after receiving the transplant operation. 
    
    OLYMPIQUE LYONNAIS 
    The soccer club plans to launch a 52 million euro capital increase in the
coming weeks, which will be used to refinance convertible bonds and pay for
construction work. The group said nine-month sales fell 20 percent to 76.2
million euros. 
    
    UNILEVER 
    Consumer goods maker Unilever says its brands that most fully embrace its
CEO's passion for sustainability perform the best, adding fuel to its
oft-repeated argument that social responsibility is good for business.
 
    
    UK ELECTION 
    Ahead of Britain's parliamentary election on Thursday, Prime Minister David
Cameron's Conservatives and the opposition Labour Party are tied at 33 percent,
according to a YouGov opinion poll for the Sun newspaper published on Monday.
 
    
    INFINEON 
    Indicated 2.8 percent higher
    The auto and industrial chipmaker again raised its revenues and profit
predictions for the year, partly thanks to the weak euro, an increase in demand
for its security chips and the consolidation of recently acquired International
Rectifier. 
    
    ADIDAS 
    Indicated 1.3 percent higher
    The sportswear company posted better-than-expected first quarter sales
growth on Tuesday, helped by a strong rise in its running and fashion units as
well as a recovery of its struggling North America business. 
    
    ALLIANZ 
    Indicated 0.2 percent lower
    The Pimco Total Return Fund, launched by Bill Gross, has lost its title as
the world's biggest bond mutual fund, following two years of
withdrawals. 
    
    AUTOS   
    BMW indicated 0.2 percent higher
    Daimler indicated 0.1 percent higher
    Volkswagen indicated 0.5 percent higher
    Russia's government is planning to introduce measures to reduce the risk of
rouble volatility for foreign auto makers which have localised their production
in the country, Kommersant newspaper reported on Tuesday, citing industry
sources. 
    Separately, Volkswagen said it was creating a commercial vehicles group to
align its truck divisions MAN and Scania, pushing its long-standing ambition to
become Europe's largest truck manufacturer. 
    
    LUFTHANSA 
    Indicated 1.8 percent higher
    Lufthansa posted a smaller operating loss in the first quarter, but said
further action was needed to lower costs, especially in light of a rising
pension burden and staff-related expenses. 
      
    METRO 
    Indicated 1.3 percent higher
    The retailer reported an acceleration in group sales growth in its fiscal
second quarter as a recovery in Europe helped its core cash-and-carry and
consumer-electronics businesses. 
    
    SIKA
    The Swiss financial regulator on Monday denied an appeal by investors
including Bill Gates over a proposed 2.75 billion Swiss franc ($3 billion)
takeover of Swiss firm Sika by French rival Saint-Gobain.
    For more, click on 
      
    DUFRY 
    Dufry said it swung to a first-quarter net loss of 9 million francs after
amortization from the acquisition of Nuance. The duty-free retailer said the
integration is expected to be completed by year-end and confirmed the 70 million
francs in synergies it expects to reap in 2016, but said small contributions
could already by seen in 2015. 
    
    SWISSLOG 
    Swisslog said first-quarter earnings before interest and tax rose sharply to
3.3 million francs as the company worked down a large order backlog from
year-end, publishing quarterly figures for the first time in order to align its
reporting practices with those of KUKA AG, its main shareholder. 
    
    BASILEA 
    Basilea said a clinical phase 1 study with the orally administered
investigational drug BAL3833/CCT3833 in patients with advanced solid tumors
began. BAL3833/CCT3833 is the lead compound of a series of small molecule panRAF
inhibitors recently in-licensed by Basilea. 
    
    HELVETIA 
    Helvetia said the takeover of Nationale Suisse successfully completed and
the two firms' insurance units have been merged. At the same time, an integrated
organisation model has been introduced for office and field staff. 
    
    

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  MARKET SNAPSHOT AT 0552 GMT:
    
                                           LAST  PCT CHG     NET CHG
 S&P 500                               2,114.49   0.29 %         6.2
 NIKKEI                                19531.63   0.06 %       11.62
 MSCI ASIA EX-JP                         512.14   -0.5 %       -2.55
 EUR/USD                                 1.1132  -0.11 %     -0.0012
 USD/JPY                                 120.03  -0.06 %     -0.0700
 10-YR US TSY                             2.146       --        0.01
 YLD                                                      
 10-YR BUND YLD                           0.456       --        0.00
 SPOT GOLD                            $1,188.04   0.03 %       $0.34
 US CRUDE                                $58.90  -0.05 %       -0.03
 
  
  > Asian shares falter, Aussie dollar volatile after rate cut    
  > Wall Street ends on upbeat earnings from Berkshire, Cognizant     
  > TREASURIES-Long bond drops more than a point in thin trading    
  > FOREX-Aussie rebounds after short-lived dip on RBA rate cut    
  > PRECIOUS-Gold clings to gains; US jobs data, rate outlook eyed    
  > METALS-London nickel hits five week high                
  > Brent crude slips on Saudi plan to halt Yemen bombing        
    

 (Reporting by Alistair Smout)