European Factors to Watch-Shares to edge lower after German data miss

viernes 7 de agosto de 2015 02:31 GYT
 

LONDON, Aug 7 (Reuters) - European stock futures edged slightly slower on
Friday after a surprising fall in German industrial output, with investors also
focussed on closely watched U.S. jobs data due later in the session.
    Futures for the Euro STOXX 50, Germany's DAX and France's
CAC were all down 0.1 percent at 0630 GMT, turning lower after German
industrial output declined and exports fell by more than expected, raising
questions about the strength of the recovery in Europe's largest economy.
 
    Better data was expected from the United States, where the number of U.S.
jobs probably rose at a healthy pace in July and wages likely rebounded,
providing further signs of an improving economy that could allow the Federal
Reserve to raise interest rates in September. 
    "Most people focused their attention on last week's Fed statement where it
was stated that it wanted to see "some" further evidence of a healthy labour
market, and here there does seem to be grounds for optimism," Michael Hewson, 
analyst at CMC Markets, said in a note.
    "Expectations are for 225,000 new jobs to be added in July and the
unemployment rate to come in at 5.3 percent, but also keep an eye on the average
hourly earnings data after last month's surprise fall from 2.3 percent to 2
percent."
    The pan-European FTSEurofirst 300 is up 1.1 percent this week,
boosted by an improving earnings picture in Europe. On Friday, German insurer
Allianz and Italian bank Monte dei Paschi both reported that
profits were picking up.
    Of STOXX Europe 600 to have reported results, 57 percent have
beaten or met profit expectations, with 66 percent of companies achieving or
exceeding revenue estimates.
    
    

    COMPANY NEWS
    
    BANCA MONTE DEI PASCHI DI SIENA 
    The lender on Thursday reported a net profit of 121 million euros ($132.22
million) and an increase in its core capital in the second quarter in a sign its
long-running turnaround plan is bearing fruit. 
    
    ALLIANZ 
    The insurer said on Friday it expects an operating profit of 10.8 billion
euros ($11.8 billion) this year - the top of its target range - after low damage
claims helped boost earnings at its property and casualty business in the second
quarter. 
    Separately, the insurer on Thursday said it was cutting the size of its
management board to nine members as part of a broader executive reshuffle at the
group. 
    
    E.ON 
    The German utility on Thursday said it agreed a deal to sell its
hydroelectric plants in Italy to ERG Group for around 1 billion euros
($1.09 billion). 
            
    UBS 
    UBS has joined Bank of America in closing down some options for wealthy
clients to access billionaire investor John Paulson's Advantage fund, sources
said on Thursday, after the portfolio suffered double-digit losses in 2014.
    For more click on    
    
    SANOFI 
    The French drugmaker said it entered a strategic partnership with Evotec
 to develop diabetes treatments that could reduce or eliminate the need
for insulin injections. 
    
    THALES 
    France will have no difficulty in finding a buyer for its Mistral helicopter
carriers after their sale to Russia was cancelled, French President Francois
Hollande said. 
    
    BPOST 
    The Belgian postal operator said it expected its classic mail business to
decline by more than previously expected but forecast stronger growth for its
parcel business. 
    
    JCDECAUX 
    The outdoor ad company said it won a bus shelter advertising contract from
Transport for London worth 700 million euros over eight years. 
    
    WILLIAM HILL 
    Britain's largest bookmaker William Hill posted a 12 percent fall in
first-half operating profit, weighed down by increased machine games duty and a
new tax on bets made online by its UK-based customers.
    In a separate statement, the group said it had acquired 29.4 percent of
NeoGames, an online lottery software and services provider, for $25 million. 
    
    NEW WORLD RESOURCES 
    The coal mine producer said three people died in accident at one of its OKD
coal mines on Thursday. 
    
    GLAXOSMITHKLINE 
    GlaxoSmithKline received approval for Breo Ellipta for the treatment of
adults with asthma. 
    
    
    
    MAJOR MACROECONOMIC DATA/EVENTS (GMT)  :
    
    0545    CH    Unemployment
    0600    DE    Industrial output, trade data
    0645    FR    Industrial output, trade data
    0830    GB    Trade data
    1230    US    Non-farm payrolls
    1230    CA    Employment data
    1430    US    ECRI Weekly
    
------------------------------------------------------------------------------
  MARKET SNAPSHOT AT 0519 GMT:
        
                                           LAST  PCT CHG   NET CHG
 S&P 500                               2,083.56  -0.78 %    -16.28
 NIKKEI                                20708.06   0.21 %     43.62
 MSCI ASIA EX-JP                         443.79  -0.18 %     -0.82
 EUR/USD                                 1.0921  -0.02 %   -0.0002
 USD/JPY                                 124.78   0.04 %    0.0500
 10-YR US TSY YLD                         2.234       --      0.00
 10-YR BUND YLD                           0.709       --      0.00
 SPOT GOLD                            $1,088.80  -0.02 %    -$0.21
 US CRUDE                                $44.83   0.38 %      0.17
 
  
  > GLOBAL MARKETS-Asian shares set for third weekly drop        
  > US STOCKS-Media stock selloff leaves Wall Street bruised     
  > Nikkei falls on profit-taking ahead of US data            
  > TREASURIES-Prices gain ahead of U.S. jobs data             
  > FOREX-Dollar steadies after week of gains, U.S. jobs data eyed    
  > PRECIOUS-Gold faces longest weekly losing run since 1999     
  > METALS-Copper, aluminium near 6-year lows; set for weekly fall    
  > Crude oil futures up as investors await jobs data               
    

    

 (Reporting by Alistair Smout)