European Factors to Watch-Shares set for biggest weekly rise since July
LONDON, Sept 11 (Reuters) - European stocks were seen edging up on Friday, following Wall Street and Asian shares higher, with one index of top European shares set for its biggest weekly gain since July. Futures on the Euro STOXX 50, Germany's DAX, France's CAC and Britain's FTSE 100 were up 0.3-0.5 percent ahead of the cash market open. The pan-European FTSEurofirst 300 is up 1.6 percent so far this week, set for its biggest weekly rise in around 2 months despite falling 1.4 percent on Thursday to break a three-day winning run. U.S. stocks were helped higher by a rise in Apple and biotech firms, while shares in Asia also rose ahead of industrial and retail data from China due at the weekend. Global stock markets had been under pressure in recent weeks, with serious concerns about the strength of China's growth roiling markets in August. However, markets have stabilised after China's regulators intervened in its stock market, with some investors also betting that the recent uncertainty would dissuade the Federal Reserve from raising interest rates next week. "Risk appetite has certainly improved this week although we're still seeing investors hold back a little," said Craig Erlam, market analyst at OANDA, adding that he was cautious ahead of the weekend's data out of China. "So much of the recent market turmoil has come from China and this data could be the latest trigger." COMPANY NEWS ACTELION Actelion confirmed yesterday that it had initiated preliminary talks with U.S. biotech company ZS Pharma Inc, after tips that the Swiss drugmaker offered to buy the U.S. company for $2.5 billion were released. Neither of the companies had made any commitment, Actelion said. ZS Pharma also confirmed the discussions. For more click on NESTLE Nestle opened its third Nespresso production site in Romont, Switzerland yesterday. As the only producer of the large portion capsule line introduced in the United States and Canada last year, the factory is an investment into the key U.S. coffee capsule market, the company said. For more click on CONTINENTAL German auto parts supplier Continental has largely replaced its tyre sales management team in China on suspicion of corruption, a person familiar with the situation said on Thursday. Continental declined comment. DEUTSCHE BANK John Cryan, Deutsche Bank's new chief executive, will not present "big bang" reforms when the supervisory board gathers Thursday evening, rather an acceleration of existing plans to shed assets and exit countries. LUFTHANSA German pilots' union Vereinigung Cockpit has proposed fresh talks with Lufthansa management over early retirement benefits, a day after a court ruled a strike was unlawful because the union had overstepped its mandate. AIR FRANCE-KLM Air France's main pilot union SNPL said on Thursday its leadership had agreed to resume negotiations with the French airline's management, easing a stand-off over its "Perform 2020" restructuring plan. EURONEXT Pan-European exchange operator Euronext NV ENX.PA said it nominated Stéphane Boujnah as chief executive and chairman. EDENRED French voucher and prepaid card provider Edenred EDEN.PA has decided to appoint Bertrand Dumazy, head of decorative paints company Cromology, as chief executive, Le Figaro newspaper reported on Thursday. DIA Spain's supermarket chain DIA said late on Thursday that farmers' blockades at its logistic center in Santiago de Compostela, in north-western Spain, had cost the firm a total of 8 million euros so far. The group also said it was paying off shares held in Treasury worth 2.9 million euros. FIAT CHRYSLER AUTOMOBILES A government plan to recall and replace millions of potentially deadly Takata air bag inflators could compel other manufacturers to supply automakers with the safety devices, the top U.S auto safety regulator said on Thursday. FINMECCANICA The U.S. Navy has removed contracting suspensions imposed on two former senior executives with Italy's Finmeccanica in February 2014, after they were cleared of bribery charges by an Italian court, according to an attorney representing the two men. ENI U.S. energy envoy Amos Hochstein sees some long-term potential for natural gas development in the Middle East. ROYAL BANK OF SCOTLAND - The leading candidate to win control of Britain's opposition Labour Party, Jeremy Corbyn, said he would introduce a punitive windfall tax aimed at recouping money lost by privatising state assets too cheaply if he becomes prime minister in 2020, taking specific aim at RBS. GLENCORE Glencore held talks with Congolese officials in Kinshasa on Thursday over the company's plans to suspend some copper output at its Katanga Mining unit for 18 months, an adviser to the prime minister said. BHP BILLITON BHP Billiton Ltd plans to spend millions of dollars in a venture with a Canadian power company to promote carbon capture technology to help shore up coal demand. ANGLO AMERICAN Anglo American AAL.L is likely to be the next mining firm to follow Glencore's GLEN.L example in cutting its dividend to help contain debt levels and preserve cash amid a global commodity market slump, analysts and bankers said. OHL OHL Mexico sued Infraiber, a small highway technology company, on Thursday for disseminating leaked recordings that have embroiled the builder in a corruption scandal. REPSOL Jefferies has raised its stance in Repsol to 'hold' while cutting the target price to 11 euros MAJOR MACROECONOMIC DATA/EVENTS (GMT) : 0600 DE CPI 0745 FR Current account 0800 IT Industrial output 0830 GB Construction 1230 US PPI 1400 US University of Michigan Sentiment 1430 US ECRI Weekly ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0522 GMT: LAST PCT CHG NET CHG S&P 500 1,952.29 0.53 % 10.25 NIKKEI 18299.67 0 % 0.05 MSCI ASIA EX-JP 401.67 0.47 % 1.87 EUR/USD 1.129 0.12 % 0.0014 USD/JPY 120.78 0.16 % 0.1900 10-YR US TSY YLD 2.211 -- -0.01 10-YR BUND YLD 0.695 -- 0.00 SPOT GOLD $1,111.96 0.07 % $0.81 US CRUDE $45.73 -0.41 % -0.19 > GLOBAL MARKETS-Asian shares lifted by Wall St, dollar firms > US STOCKS-Wall St rises with Apple, biotechs > Nikkei on track to post 1st weekly gain in 5 weeks > TREASURIES-Yields rise, strong demand at 30-yr auction > FOREX-Dollar up vs yen on increased BOJ easing prospects > PRECIOUS-Gold firms, but poised for third weekly drop > METALS-LME copper rises, set for biggest weekly rise since May > Oil dips as Saudi rejects producer summit, set for weekly fall (Reporting by Alistair Smout)
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