European Factors to Watch-Shares to inch up; eyes on Greece, inflation
(Adds further company news) LONDON, June 2 (Reuters) - European shares were indicated to inch higher on Tuesday, keeping within their recent range as investors awaited euro zone inflation data due later in the day and developments out of Greece's negotiations with it creditors. At 0633 GMT, futures for the Euro STOXX 50, Germany's DAX, France's CAC and Britain's FTSE indexes were up between 0.1 percent and 0.3 percent. The leaders of Germany, France and Greece's international creditor institutions agreed late on Monday to work with "real intensity" in the coming days as they try to clinch a deal in debt negotiations with Athens. "It (the market) is inside ranges every day although the ranges are quite wide," Justin Haque, a trader at brokerage Hobart, said. "The real money is still sitting on the sidelines because God knows what's going to happen to Greece." Investors will be looking out for German unemployment data at 0755 GMT and a euro zone inflation reading due just over an hour later. Inflation expectations for the currency bloc have picked up recently, partly due to rebounding oil prices. The European Central Bank, which launched an asset purchase programme to stimulate inflation earlier this year, holds a policy meeting on Wednesday. COMPANY NEWS SIKA Sika said the Cantonal Court of Zug had served it with a challenge and voting right action of Schenker Winkler-Holding (SWH) against certain resolutions of the ordinary general meeting of Sika on April 14, 2015. SWH challenges in particular the re-election to the board of directors of Ribar and Haelg, Sauter, Suter and Tobler as well as the non-election of Roesle to the board, Sika said, adding it will respond to the action of SWH in the context of the court proceedings. BP The United Arab Emirates' Dana Gas has signed an agreement for BP to pay for part of its exploration costs in the El Matriya onshore concession area in Egypt, the UAE firm said on Tuesday. HSBC HSBC Holdings Plc could announce thousands of job cuts at a strategy day next week, Sky News reported on Monday, part of chief executive Stuart Gulliver's overhaul plan that could also see him sell operations in Brazil and Turkey and take a knife to his investment bank. HSBC Holdings Plc was on Monday ordered to face three U.S. lawsuits accusing it of breaching its duties as a trustee overseeing residential mortgage-backed securities that suffered more than $34 billion of losses in the global financial crisis. ROYAL BANK SCOTLAND British Finance Minister George Osborne is set to announce plans next week at Mansion House speech regarding the privatisation of Royal Bank of Scotland, the Financial Times reported. GLENCORE Colombia's Constitutional Court has extended a restriction on the overnight use of the country's main coal railway, Fenoco, and has partially suspended construction work on an adjacent track for three months, media reported late on Monday. The railway is jointly owned by Glencore unit Prodeco. BRITISH AMERICAN TOBACCO Three tobacco companies, including a subsidiary of BAT, said on Monday they would appeal a Canadian court ruling that awarded more than C$15 billion ($11.98 billion) in damages to Quebec smokers in two related class action cases. NOVARTIS Novartis said CTL019 data showed its potential in the treatment of specific types of hard-to-treat non-hodgkin lymphoma and highlight preliminary safety and efficacy data for the medicine in other indications. Novartis said new one-year data for secukinumab, the first IL-17A inhibitor to show significant improvement in ankylosing spondylitis (AS) signs and symptoms, was to be presented at European League Against Rheumatism meeting (EULAR). ROCHE Roche said it would collaborate with Amgen on a phase 1b study to evaluate the safety and efficacy of talimogene laherparepvec, Amgen's investigational oncolytic immunotherapy, in combination with Roche's investigational anti-PDL1 therapy atezolizumab, in patients with triple-negative breast cancer and colorectal cancer with liver metastases. MERCK KGaA's The head of Merck KGaA's healthcare division said she expected its cancer drug avelumab, jointly developed with Pfizer, to be among the first two or three to market in a field of immunotherapy pharmaceuticals that harness the power of the immune system in a range of cancer types. AIR FRANCE Air France faces its second safety investigation in as many weeks after pilots were forced to recover in mid-takeoff after entering the wrong data into the computer of a cargo jet, airline and safety officials said. BNP Hong Kong's securities regulator has fined French bank BNP Paribas SA's Asian securities unit for failure to report more than HK$6 billion ($773.53 million) of cross trades to the city's stock exchange in the 10 years to 2013. FIAT CHRYSLER AUTOMOBILES Fiat Chrysler Automobiles in the past year has delayed the redesign or release of at least a dozen current or new vehicles in North America, according to suppliers familiar with the company's plans. The unusual number of delays could let the automaker defer billions of dollars in investment while searching for a partner. New car sales in Italy, Europe's fourth-largest car market, rose 10.78 percent in May from the same month a year ago to 146,582 vehicles, Italy's transport ministry said on Monday. The CEO of Tesla said on Monday Chrysler had not asked the company about a merger. CNH INDUSTRIAL The truck company said on Monday it had completed an offer to exchange up to $500 mln of 3.375 percent notes due 2019 registered under Securities Act for outstanding unregistered 3.375 pct notes due 2019. OHL Fitch said on Monday it was putting Spanish builder OHL's rating on negative watch, after shares in its Mexican unit fell sharply in the midst of a corruption scandal. ENI A manager in Libya's Mellitah oil and natural gas consortium, owned by state oil firm NOC and Italy's Eni has been kidnapped, employees said on Monday. EXOR, PARTNERRE, AXIS PartnerRe and Axis said on Monday in a letter on the PartnerRe website they had both called special shareholder meetings on the merger of the two companies on July 24, confirming what sources told Reuters. The two reinsurers reiterated they would recommend their shareholders vote for the merger. Exor has made a bid for PartnerRe. DEUTSCHE BANK Deutsche Bank's outgoing retail bank head Rainer Neske is leaving without a payout, Handelsblatt newspaper reports. BANCA MONTE DEI PASCHI DI SIENA Italian businessman Alessandro Falciai bought 163,000 Monte Paschi shares over the two days May 26 and May 28 for a total of 951,954 euros, according to filings on Monday. Falciai, already a shareholder, has previously said he will buy into the lender's 3 billion euro rights issue. MEYER BURGER Meyer Burger said it had been selected by Lerri Solar Technology to supply MB PERC upgrade cell solution and PV measurement technology. The order volume is around 16.5 million Swiss francs, the firm said. MAJOR EUROPEAN COMPANIES REPORTING: RIC Event Name Q3 2015 Aryzta AG Trading Update Q3 2015 Wolseley PLC Interim Management Statement Release Amec Foster Wheeler PLC Trading Statement Release MAJOR MACROECONOMIC DATA/EVENTS (GMT) : 0755 DE Unemployment May 0830 GB BoE consumer credit, mortgage lending Apr 0900 EZ Inflation May 1400 US Factory orders Apr > Dollar stands tall, Asian shares slip > Wall St edges up after recent losses, mixed data > Nikkei rises for 13th day helped by better shareholder returns > TREASURIES-Yields climb to one-week peaks on upbeat U.S. data > Dollar rises above 125 yen for first time since late 2002 > Gold dips further below $1,200 on robust U.S. data, dollar > Copper holds near $6,000 as global factories sputter > Oil prices stabilize, firm demand counters oversupply (Reporting By Francesco Canepa)
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