European Factors to Watch-Shares set for biggest weekly drop in 6 weeks

viernes 14 de agosto de 2015 02:22 GYT

LONDON, Aug 14 (Reuters) - European stocks were seen opening steady on
Friday, although a top share index was set for its biggest weekly loss in six
weeks following moves by China to let its currency weaken.
    After devaluing the yuan earlier in the week, China's central bank said on
Thursday there was no reason for the currency to fall further given the
country's strong economic fundamentals, helping to restore calm to jittery
global markets. 
    Those reassurances helped the pan-European FTSEurofirst 300 end up
0.9 percent on Thursday. However, it remains down 2.8 percent for the week, its
biggest weekly fall since the end of June, after the initial moves by China to
allow the yuan to weaken hit mining, auto and luxury stocks.
    Futures on the Euro STOXX 50, France's CAC and Germany's
DAX and Britain's FTSE were all flat to 0.1 percent higher.
    Oil and gas firms could be in focus after U.S. crude oil prices fell below
$42 a barrel to prices not seen since March 2009. 
    "The big falls in WTI... which saw it fall a further 2.5 percent to its
lowest level since 2009, have created strong headwinds for energy stocks today,"
Angus Nicholson, market analyst at IG, said in a note.
     In company news a U.S. judge found that oil major BP Plc manipulated
the natural gas market in 2008, as alleged by the U.S. energy regulator.
    Euro zone GDP and inflation releases highlight a busy day for economic data,
with euro zone stock index futures turning slightly higher after German economic
growth accelerated in the second quarter of 2015, albeit by less than expected.

    Switzerland's biggest listed life insurance company was able to eke out a
small gain in first-half net profit despite the strong Swiss franc thanks to
solid fee and commission income, it said.    
    HSBC HOLDINGS, BARCLAYS - Investors have recovered more
than $2 billion in settlements with nine banks over claims of price-rigging in
the foreign exchange market, and are continuing to pursue claims against seven
other banks, a lawyer for the plaintiffs said Thursday. [ID;nL1N10O37N]
    BP -  A U.S. judge on Thursday found that BP manipulated the natural
gas market in 2008, as alleged by the U.S. energy regulator, but did not address
a proposed $28 million fine or any other penalties. 
    RIO TINTO - China's Shenhua Group SHGRP.UL is among six parties
assessing bids for Rio Tinto's $4 billion thermal coal business, the Australian
Financial Review reported on Friday. 
    GLAXOSMITHKLINE - GlaxoSmithKline is banking on a major clinical
trial to revive its flagging respiratory medicine business, with billions of
dollars of sales riding on a positive result. 
    The Dutch engineering services company has been declared bankrupt and its
Marine and Nordic divisions are being sold to private investors, the company and
its administrators said on Thursday. 
    Belgium's Tihange 3 nuclear reactor will be restarted overnight between
Friday and Saturday, after it was halted early on Thursday because of a
technical issue, said its operator Electrabel, part of France's Engie.
    Prosecutors have dropped a market manipulation probe against members of the
supervisory board of sportscar maker Porsche AG, including Wolfgang Porsche and
Ferdinand Piech, Frankfurter Allgemeine Zeitung said citing people close to the
case. Porsche declined comment. Porsche AG is now owned by Volkswagen AG.  
    Still expects sales of between 201 million euros and 204 million euros, with
EBIT between 177 million euros and 180 million euros for FY 2015. Aims to pay
dividend of at least 1.35 euros per share for FY 2015. 
    The world's second-biggest maker of elevators said first-half net profit
rose 6.5 percent. It expected 2015 revenue to grow by 6 to 8 percent in local
currencies and that net profit will total 700 mln to 750 mln francs
    0530    FR    GDP Preliminary
    0600    DE    GDP Flash
    0645    FR    Non-Farm Payrolls
    0800    IT    GDP Preliminary
    0830    GB    Construction
    0900    EZ    GDP, Inflation
    1230    CA    Manufacturing Sales
    1230    US    PPI
    1315    US    Industrial, Manufacturing Output
    1400    US    University of Michigan Sentiment
    1430    US    ECRI Weekly
                                            LAST  PCT CHG   NET CHG
 S&P 500                                2,083.39  -0.13 %     -2.66
 NIKKEI                                 20545.42  -0.24 %    -50.13
 MSCI ASIA EX-JP                          431.29  -0.09 %     -0.39
 EUR/USD                                  1.1156   0.07 %    0.0008
 USD/JPY                                  124.40  -0.01 %   -0.0100
 10-YR US TSY YLD                          2.171       --     -0.02
 10-YR BUND YLD                            0.637       --      0.00
 SPOT GOLD                             $1,112.65  -0.18 %    -$2.00
 US CRUDE                                 $42.01  -0.52 %     -0.22
  > GLOBAL MARKETS-Asia shares to end week lower; crude oil slumps   
  > US STOCKS-Wall St ends flat as energy shares drop with oil    
  > Nikkei dips on profit taking, weak yuan fears ebb for now    
  > TREASURIES-U.S. bonds droop on yuan assurances, Fed prospects    
  > FOREX-Dollar ticks up as China stops guiding yuan lower        
  > PRECIOUS-Gold slips as yuan firms, to snap 7-wk losing run     
  > METALS-Copper falls amid China yuan worries            
  > U.S. crude oil dips on high U.S. stocks, Asia economy worries    

 (Reporting by Alistair Smout)