European Factors to Watch-Shares set to fall after weak China manufacturing data
LONDON, Sept 1 (Reuters) - European stocks were seen falling at the open on Tuesday after weak manufacturing data from China raised fresh concerns over the health of its economy and hit Asian markets. Activity in China's manufacturing sector contracted at its fastest pace in three years in August, an official survey showed on Tuesday, reinforcing fears of a sharper slowdown in the world's second-largest economy despite a flurry of government support measures. Shares in Asia fell following the data. "At a time when the People's Bank of China is already making big efforts to shore up the economy, this is very concerning," Craig Erlam, senior market analyst at OANDA, said in a note. "It's no surprise that people expect the economy to slow well below 7 percent in the second half of the year, unless of course we see further monetary and fiscal stimulus measures, which is likely." Futures on the Euro STOXX 50, Germany's DAX, France's CAC and Britain's FTSE were 2.2-1.3 percent lower at 0601 GMT. Investor caution over Chinese growth contributed to a drop in European shares in August, with the pan-European FTSEurofirst 300 chalking up its biggest monthly loss in four years on Monday. Britain's stock market will re-open after being closed for a public holiday on Monday. COMPANY NEWS BAYER Bayer is pushing ahead with a listing of its Material Science division. "We are on track, I am not concerned about China," the division's chief, Patrick Thomas, told German daily Rheinische Post. An IPO is planned by mid 2016. MANZ Manz AG said it received an order for a production line for lithium-ion batteries with a sales volume of around 12 million euros. The agreement contains the option for additional production in the USA and China. The orders will impact revenues and earnings in the current fiscal year and in some cases in the coming year, Manz said. SYNGENTA The Swiss crop chemicals maker said it has won U.S. approval for its fungicide solatenol, adding global peak sales could reach $1 billion. NOVARTIS The drugmaker said it received EU approval for Tafinlar and Mekinist, the first combination approved for patients with an aggressive form of melanoma. UBS UBS said it has completed its SESTA procedure and will pay a supplementary dividend of 0.25 Swiss francs on Sept. 22. It's also starting a new marketing campaign with celebrity photographer Anne Leibowitz. KERING Italian private equity firm Investindustrial has been discussing for months with French luxury group Kering a possible purchase of its Sergio Rossi shoe brand but a deal is still far away, a source close to the matter said on Monday. NUMERICABLE-SFR European telecoms group Altice on Monday named sector expert Michel Combes as its chief operating officer and as chairman of its Numericable-SFR mobile phone business to help accelerate its expansion. JCDECAUX French outdoor advertising company JCDecaux buys a 70 percent stake in Peru's advertising company Eye Catcher Media, with founding shareholders Luiz Felipe Mauger and Miguel Claux, retaining a 30 percent stake in company. SACYR The construction group said after market close on Monday that it would pay its first dividend in four years this year and aimed to nearly double its core profit between 2016 and 2020, marking its recovery from Spain's deep economic crisis. ASTRAZENECA To partner with Valeant on brodalumab product. Under the terms of the agreement, Valeant will make an upfront payment to Astrazeneca of $100 million. PUNCH TAVERNS Punch Taverns ees full-year profits in line with management expectations. AGA - Receives approach regarding possible cash offer from Whirlpool Corporation. VIRGIN MONEY - CFO Lee Rochford steps down. ROYAL DUTCH SHELL - Says Puget Sound refinery units normal after power blip. MAJOR MACROECONOMIC DATA/EVENTS (GMT) : 0745 IT Markit/ADACI Mfg PMI 0750 FR Markit Mfg PMI 0755 DE Markit/BME Mfg PMI 0755 DE Unemployment 0800 EZ Markit Mfg Final PMI 0800 IT Unemployment rate 0830 GB BOE consumer credit 0830 GB Mortgage lending 0830 GB M4 Money supply 0830 GB Markit/CIPS Mfg PMI 0900 EZ Unemployment rate 0900 IT GDP Final 1230 CA GDP 1255 US Redbook 1330 CA RBC Mfg PMI 1345 US Markit Mfg PMI 1430 US ISM ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0516 GMT: LAST PCT CHG NET CHG S&P 500 1,972.18 -0.84 % -16.69 NIKKEI 18355.88 -2.83 % -534.6 MSCI ASIA EX-JP 400.33 -0.82 % -3.31 EUR/USD 1.1272 0.54 % 0.0061 USD/JPY 120.63 -0.49 % -0.5900 10-YR US TSY YLD 2.186 -- -0.01 10-YR BUND YLD 0.807 -- 0.01 SPOT GOLD $1,142.40 0.73 % $8.30 US CRUDE $47.69 -3.07 % -1.51 > GLOBAL MARKETS-Asian shares slip after downbeat China PMIs > US STOCKS-Wall Street's worst month in 3 years ends on a sour note > Nikkei falls as weak capex data sours mood > TREASURIES-Prices slip after oil rally triggers inflation fears > FOREX-Yen, euro buoyed by risk aversion as equities retreat > PRECIOUS-Gold gains as equities, dollar retreat > METALS-London copper flat amid China factory woes; nickel slides > Oil prices drop 3 pct as investors retreat from overnight gains (Reporting by Alistair Smout)
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