European Factors to Watch-Shares set to rise after Asia surges
LONDON, Sept 9 (Reuters) - European stocks were seen rising on Wednesday, buoyed by strong gains in Asia, with a top European stock index set to rise for a third straight day as investor concern over China's growth continued to abate. Asian shares rose, tracking Wall Street higher. Chinese shares were in positive territory and Japanese stocks were on course for their biggest one-day gain in 4 1/2 years, with both markets boosted by the prospect of further stimulus. Futures on the Euro STOXX 50, Germany's DAX and France's CAC were all up 2 percent, with futures on Britain's FTSE 100 up 1.4 percent. In company news, Ryanair was in focus after hiking its annual profit forecast by 25 percent on Wednesday. Its summer performance was boosted by bad weather in northern Europe and the strength of the British pound. The pan-European FTSEurofirst 300 index was up 1.2 percent at 1,415.58 points on Tuesday, closing in positive territory in back-to-back sessions, with Germany's DAX outperforming following strong trade data despite China's slowdown. Markets have rallied in recent days after Chinese authorities have increased support and regulation of stock trading, but while the moves have brought stability to prices, equities and futures are trading so thinly that they are in danger of flat lining. "This flip-flop of policies regarding support for the Chinese stock market surely has only served to further damage investor confidence in the markets," Angus Robertson, market analyst at IG, said in a note. "It is difficult to know how this will play out going forward, or how long the government expects to continue these policies." COMPANY NEWS RYANAIR Ryanair hiked its annual profit forecast by 25 percent on Wednesday after its summer performance was boosted by bad weather in northern Europe and the strength of the British pound. ALSTOM General Electric has won EU approval for its 12.4-billion-euro acquisition of Alstom's power business after agreeing to sell some of the French company's turbine assets to Italian rival Ansaldo Energia. EIFFAGE The French construction and concessions company said it was buying Pichenot-Bouille, a company specialised in the maintenance and renovation of railway networks. AREVA, EDF France's oldest nuclear plant at Fessenheim in the country's northeast will not be closed before the end of President Francois Hollande's mandate in 2017, Energy and Environment Minister Segolene Royal indicated. K+S Potash Corp is prepared to launch a hostile takeover offer for the German rival under certain conditions, Handelsblatt reported on Tuesday, without citing the source of the information. Germany's regional government of Hesse, the home state of K+S, subsequently denied the Handelsblatt report saying it was aware of Potash's hostile bid. LUFTHANSA A Frankfurt court ruled late on Tuesday that pilots can go ahead with a strike planned for Wednesday, rejecting an application for a temporary injunction brought by the airline. August traffic figures due at 1100 GMT. Separately, more than 120 families of passengers killed in the Germanwings crash will band together to push for higher compensation payouts, Handelsblatt reported on Tuesday, without citing the source of the information. METRO, ZALANDO The family owners of German shoe chain Reno are seeking to find a buyer for the company by the end of the year, Chief Executive and co-owner Matthias Haendle told Reuters on Tuesday. ABB The power grid components maker cut its mid-term growth target by one percentage point to 3-6 percent on the low oil price and weak Chinese market. ABB is trimming its structure to four divisions from five, and says the cost of a savings program will be $1.2 billion. For more click on IAG A British Airways plane caught fire at an airport in Las Vegas on Tuesday, but the flames were extinguished and just two people among the 159 passengers and 13 crew onboard suffered minor injuries, McCarran International Airport said on Twitter. British Airways is owned by IAG. GLAXOSMITHKLINE GlaxoSmithKline Plc and its partner Theravance Inc on Tuesday said their inhaled medicine Breo failed to prolong life of patients with chronic respiratory disease in a high-stakes clinical trial of 16,500 people. MAJOR MACROECONOMIC DATA/EVENTS (GMT) : 0830 GB Industrial, Manufacturing, Goods trade data 1100 US Mortgage data 1215 CA House Starts 1255 US Redbook 1400 CA BoC Rate Decision 1400 US JOLTS Job Openings 1500 US TR IPSOS PCSI 1500 CA TR IPSOS PCSI ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0508 GMT: LAST PCT CHG NET CHG S&P 500 1,969.41 2.51 % 48.19 NIKKEI 18404.54 5.61 % 977.46 MSCI ASIA EX-JP 402.68 2.66 % 10.45 EUR/USD 1.1167 -0.29 % -0.0032 USD/JPY 120.23 0.38 % 0.4500 10-YR US TSY YLD 2.195 -- 0.00 10-YR BUND YLD 0.680 -- 0.00 SPOT GOLD $1,123.00 0.14 % $1.60 US CRUDE $46.13 0.41 % 0.19 > GLOBAL MARKETS-Asian stocks catch a lift from US, Europe > US STOCKS-Wall St jumps 2 pct as China gains fuel global gains > Nikkei soars on fresh Abenomics hopes, pension buying > TREASURIES-Yields rise on supply, before Fed meeting > FOREX-Dollar gains as stocks soar, loonie and kiwi in focus > Gold firms above 3-wk low as traders await Fed's rate view > METALS-London copper hits six-week top as sentiment improves > Oil markets rise as Asian stock markets catch a tailwind (Reporting by Alistair Smout)
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