European Factors to Watch-Shares seen edging higher
(Adds futures prices, company news) LONDON, Sept 22 (Reuters) - European equities headed for a slightly higher open on Tuesday, tracking gains on Wall Street and in Asia, with a pan-European share index seen staying within a tight trading band it has been stuck in for almost three weeks. At 0624 GMT, futures for the euro zone's blue-chip Euro STOXX 50, Germany's DAX and France's CAC were up 0.2 to 0.3 percent, while Britain's FTSE futures were flat. The FTSEurofirst 300 index of top European shares closed 1 percent higher in the previous session, but hovered within a 75-point range it has been in this month. It broadly traded in a 170-point range in July and August. Analysts said the market was looking for some fresh catalysts to come out of that trading range. A better-than-expected reading of China's manufacturing data, due on Wednesday, could provide such a trigger, they added. Mining and energy stocks will be in focus after prices of major industrial metals and crude oil fell. COMPANY NEWS: VOLKSWAGEN The scandal engulfing Volkswagen, which has admitted cheating diesel vehicle emissions tests in the United States, spread east on Tuesday as South Korea said it would investigate three of the maker's diesel models. Separately, lawmakers on a panel in the U.S. House of Representatives plan to hold a hearing on Volkswagen's emissions from diesel vehicles in coming weeks. AREVA, EDF French nuclear group Areva and power utility EDF have asked Japan's Mitsubishi Heavy Industries to invest in Areva's reactor subsidiary, the Nikkei business daily reported. TOTAL The oil major is expected to announce a new exploration strategy, more cost savings, asset sales and growth targets that will signal to the market on Wednesday it is adapting to the current low oil price environment. BANKIA Chilean bank BCI said on Monday it had been cleared by the U.S. Federal Reserve to acquire a unit of Spain's Bankia in Florida, City National Bank of Florida, valued at $883 million. ROYAL BANK OF SCOTLAND GE and RBS are said in talks to sell $4.5 billion of Italian non-performing loans, Bloomberg reported. TESCO Tesco's CEO is to hold talks with advisers this week about abandoning the sale of the Dunnhumby business, Sky News reported. INGENICO The French payments processing firm said it had abandoned discussions to take over British rival Worldpay, just days after the target said it would go ahead with a listing of its shares instead. STMICROELECTRONICS A labour union at the chipmaker said the Franco-Italian company was considering a restructuring plan that could involve laying off around 1,000 of its 1,100 French-based staff or a sale of the DPG division they work in. ROCHE The drugmaker said the U.S. Food and Drug Administration had granted a Clinical Laboratory Improvement Amendments waiver for the cobas influenza A/B test for use on the cobas Liat System. BOUYGUES The French construction company and Swiss group Movenpick will team up with Ivorian firm Saprim to invest 55 million euros on a luxury hotel in Ivory Coast's commercial capital, the firms said. BAYER Bayer CropScience LP, a subsidiary of German drugs and chemicals group Bayer, has reached a $5.6 million settlement over an explosion at a West Virginia pesticide facility that killed two people in 2008, U.S. authorities said on Monday. DEUTSCHE BOERSE The European Commission is working on a proposal, which frees up stock listing valued at as much as 10 million euros of issuing a prospectus, German newspaper Handelsblatt reported. At the moment initial public offerings of less than 5 million euros don't have to issue a prospectus. ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0517 GMT: LAST PCT CHG NET CHG S&P 500 1,966.97 0.46 % 8.94 MSCI ASIA EX-JP 405.97 0.32 % 1.29 EUR/USD 1.1193 0.06 % 0.0007 USD/JPY 120.47 -0.05 % -0.0600 10-YR US TSY YLD 2.199 -- -0.02 10-YR BUND YLD 0.684 -- 0.01 SPOT GOLD $1,133.00 -0.01 % -$0.10 US CRUDE $46.01 -1.44 % -0.67 > Asia shares rise, dollar firm on Fed, ECB views > Wall St rebounds with financials; biotechs drop > U.S. bond prices sag on supply, Fed officials' remarks > Dollar near 2-week high, supported by 2015 Fed hike view > Gold retains losses as firmer dollar, stocks dent safe-haven demand > Copper slips toward 2-week low as surplus drags > Oil prices drop as market torn between bulls and bears (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)
© Thomson Reuters 2016 All rights reserved.