European Factors to Watch-Shares set to rebound after drop

lunes 14 de septiembre de 2015 02:18 GYT
 

LONDON, Sept 14 (Reuters) - European stocks were seen rising on Monday,
remaining within recent tight ranges following the previous session's fall, with
shares set to be resilient to weak China data published over the weekend
following a rise on Wall Street at the end of last week.
    Futures on the Euro STOXX 50, Germany's DAX, France's CAC
 and Britain's FTSE 100 were 0.1 to 0.4 percent higher at 0609
GMT.
    European shares fell for a second straight day on Friday, with the
FTSEurofirst 300 index ending 1 percent lower at 1,401.07 points, but
the index still recorded its biggest weekly rise since July.
    The index has traded in a range of just 100 points since August 25.
    U.S. shares finished Friday higher after the European market close, although
Asian shares were mixed on Monday after Chinese markets were hit by soft
economic data. 
    Market focus was also on a Federal Reserve meeting later in the week. The
Fed holds its two-day meeting on Sept. 16 to Sept. 17 and markets are still
guessing whether the central bank will hike rates then, or opt for December or
early next year. 
    "European equities are set to start with modest gains this morning off the
back of mild gains in the US on Friday," Jonathan Sudaria, trader at London
Capital Group, said in a note. 
    "However, they're really just bobbing around in an ever tighter range ahead
of this week's decisive (Fed) meeting where we could see lift off on the rate
hike cycle in the US." 
    Banks could be in focus after twelve major banks reached a $1.865 billion
settlement to resolve investor claims that they conspired to fix prices and
limit competition in the market for credit default swaps, while Credit Suisse is
set to unveil a new strategy earlier than expected, according to a newspaper
report.
    
    COMPANY NEWS
    
    E.ON 
    Moody's changed its outlook on E.On's Baa1 rating to negative from stable
because of risks stemming from E.On's retention of German nuclear assets and
related decommissioning costs. 
    
    DEUTSCHE BANK, CREDIT SUISSE GROUP, UBS 
    Twelve major banks including Deutsche reached a $1.865 billion settlement to
resolve investor claims that they conspired to fix prices and limit competition
in the market for credit default swaps. 
    
    DAIMLER 
    After Mercedes managed to sell more cars than Audi  at
the end of August, CEO Dieter Zetsche expects Mercedes to defend its lead over
the German rival. "From today's perspective it is likely that we will be the
number two premium car producer at the end of the year," Zetsche told
Handelsblatt. BMW holds the leading position so far.
    
    MUNICH RE 
    The reinsurer said it expected price pressure "across the board" for
reinsurance products though the intensity of that pressure was slackening.
Claims from the explosion in Tianjin, China were within its budget for large
losses and so would not affect its forecast to earn at least 3 billion euros
($3.40 billion) in 2015, it said.  
    
    VOLKSWAGEN BMW DAIMLER 
    A group of major automakers including VW, BMW, and Mercedes agreed to make
automatic emergency braking standard on new U.S. vehicles. 
    Porsche wants to introduce electric and hybrid versions of all its cars, CEO
Matthias Mueller told car magazine Auto Motor und Sport.
    
    AIRBUS 
    Airbus Group said on Sunday that its first U.S. factory, due to formally
open on Monday, will be the most efficient in the world and capable of producing
up to eight jetliners a month by 2018. 
    
    MEDIASET, ATRESMEDIA, TELEFONICA 
    Spanish telecoms company Telefonia is aiming to capture 20 percent of total
television advertising revenue through its newly acquired platform Canal+,
Expansion reported on Monday. 
    
    SABADELL 
    Spain's Sabadell is studying making a bid for 18-billion-euro mortgage asset
portfolios from British nationalised bank Northern Rock and Bradford & Bingley,
financial newspaper Expansion said on Monday. 
    
    CREDIT SUISSE GROUP 
    The bank intends to sell its U.S. private bank and slash its prime brokerage
business under a strategy being developed by new Chief Executive Tidjane Thiam,
Swiss newspaper Schweiz am Sonntag reported on Sunday.
    Results of a strategic review announced in July will be presented to the
bank's board in early October, earlier than first envisaged to give markets time
to absorb news of a planned capital increase, the newspaper said, citing
anonymous sources.
    The bank declined comment. 
    
    
    ABB 
    ABB will likely decide next year what to do with its new Power Grids
division, Chief Executive Ulrich Spiesshofer told  Swiss newspaper Finanz und
Wirtschaft, reiterating that all options were open for the business.
 
    The paper quoted an anonymous source as saying ABB Chairman Peter Voser
would meet activist investor Cevian for the first time nexst month.
    Voser told the SonntagsZeitung paper he opposed the idea of breaking up the
engineering group's two main businesses and was not facing pressure from its big
shareholders for change. 
    
    
    SWISS RE 
    The world's second-biggest reinsurer expects prices to stabilise across many
lines of business, it said ahead of the sector's annual meeting in Monte Carlo.
[IDS:nZ8N10M00F]
    
    
    SWATCH 
    The watchmaker is not worried by economic and market turbulence in China,
Chief Executive Nick Hayek told a Sunday newspaper, noting its sales to Chinese
customers will rise when stripping out exchange rate swings. 
    
    
    SYNGENTA 
    The company has won U.S. approval for irs Orindis fungicide, which has peak
sales potential of more than $150 million.
    
    
    NOVARTIS 
    A new Novartis drug to treat heart failure should cost 17 percent less than
its list price of $4,560 per year to keep health costs in line with growth in
the overall U.S. economy, according to the nonprofit ICER. 
    
    SANOFI 
    The drugmaker said a second late-stage Phase III study of its LixiLan
diabetes drug had met its main target, readying it for regulatory submissions by
the fourth quarter in the United States and the first quarter of next year in
the European Union. 
    
    RENAULT 
    The French carmaker is unconcerned with a slowdown in the Chinese economy
hitting sales there, Chief Executive Carlos Ghosn said in an interview with Le
Journal du Dimanche. 
    
    TF1, M6, NEXTRADIOTV 
    French Culture Minister Fleur Pellerin has ruled out allowing prime time
advertising on public TV broadcasters, saying an increase in their funding
should come from a slight increase in the TV tax. 
    
    ORANGE, ILIAD, NUMERICABLE, BOUYGUES 
    French Culture Minister Fleur Pellerin said that a tax on internet providers
would be raised to 1.2 percent of their revenue from 0.9 percent currently to
help fund public broadcasters. 
    
    BOUYGUES 
    French company Bouygues has sold its 19 percent stake in West African
utility group Eranove to French insurer Axa AXAF.PA, a Bouygues spokesman said
on Friday, confirming a report in Jeune Afrique.  
    
    MAJOR MACROECONOMIC DATA/EVENTS (GMT)  :
    
    0715    CH    Producer/Import Price
    0800    IT    Consumer Prices/CPI Final
    0900    EZ    Industrial Production
    
    
------------------------------------------------------------------------------
  MARKET SNAPSHOT AT 0520 GMT: 
    
                                          LAST  PCT CHG   NET CHG
 S&P 500                              1,961.05   0.45 %      8.76
 NIKKEI                               18018.32  -1.35 %    -245.9
 MSCI ASIA EX-JP                        399.19   0.07 %      0.28
 EUR/USD                                1.1342   0.03 %    0.0003
 USD/JPY                                120.38  -0.14 %   -0.1700
 10-YR US TSY YLD                        2.187       --      0.00
 10-YR BUND YLD                          0.659       --      0.00
 SPOT GOLD                           $1,107.75   0.02 %     $0.25
 US CRUDE                               $44.58  -0.11 %     -0.05
 
  
  > GLOBAL MARKETS-Asia markets on edge ahead of Fed meeting     
  > US STOCKS-Wall St climbs, S&P 500 posts best week since July    
  > Nikkei extends morning losses as China skids            
  > TREASURIES-Prices gain before next week's Fed meeting        
  > FOREX-Dollar inches lower as Fed countdown begins            
  > PRECIOUS-Gold hovers near one-month low, traders eye Fed    
  > METALS-LME copper firm near two-month top ahead of Fed        
  > Oil prices dip as demand stalls                    
    

 (Reporting by Alistair Smout)