European Factors to Watch-Shares seen opening lower
(Adds company news items) LONDON, Sept 29 (Reuters) - European stocks were seen opening lower on Tuesday, with concerns over a Chinese economic slowdown and weakness in the commodities sector weighing on markets. Financial spreadbetters expected Britain's FTSE 100 to open down by 41-48 points, or 0.7-0.8 percent lower. Germany's DAX was seen down by 30-57 points, or 0.3-0.6 percent lower, while France's CACM 40 was seen down by 35-42 points, or 0.8-1.0 percent lower. Asian shares skidded to 3-1/2-year lows and the dollar sagged on Tuesday, pulled down by a sharp losses on Wall Street after weak Chinese data rekindled worries about its fragile economy. Shares in commodity trading firms were hit hard and a Japanese shipper filed for bankruptcy on Tuesday, in the latest signs that tumbling energy and raw material prices are triggering a sector-wide crisis. Commodities struggled after fears of weaker demand pushed them to multi-year lows overnight. Adding to the gloom, commodity trader Glencore's Hong Kong-listed shares were around 28-percent lower on Tuesday, after its London-listed stock plunged on debt worries a day earlier. The pan-European FTSEurofirst 300 index closed down 2.2 percent on Monday, with the euro zone's blue-chip Euro STOXX 50 index falling 2.4 percent. ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0513 GMT LAST PCT CHUG NET CHUG S&P 500 1,881.77 -2.57 % -49.57 NIKKEI 16,962.57 -3.87 % -682.54 EUR/USD 1.1263 0.18 % 0.0020 USD/JPY 119.42 -0.41 % -0.4900 10-YR US STY 2.068 -- -0.03 YTD 10-YR BUND YTD 0.589 -- -0.01 SPOT GOLD $1,129.36 -0.2 % -$2.29 US CRUDE $44.45 0.05 % 0.02 > GLOBAL MARKETS-Asia shares skid to 3-1/2-year lows on China anxiety > US STOCKS-Wall St drops as anxious investors eye China > Nikkei tumbles to 8-month low on fresh China worries, falling commodities > TREASURIES-Prices gain as global stocks, commodities fall > FOREX-Yen firms on heightened risk aversion, commodity currencies slip > PRECIOUS-Platinum hits fresh 6-1/2-yr low; gold pressured by US rate view > METALS-London copper near 6-yr lows; plunge in miner shares spooks market > Oil prices remain weak on Asia economy woes; shares in commodity firms tumble COMPANY NEWS: AIRBUS : Airbus sales chief John Leahy, on whose watch the European planemaker has sold planes worth a trillion dollars, is set to remain in his post, pushing aside earlier talk of retirement, two people with knowledge of the decision said. DIALOG SEMICONDUCTOR : Cypress Semiconductor Corp has withdrawn its offer for Atmel Corp , in the second failed attempt by the company to acquire a chipmaker this year. Atmel, which makes small processors called microcontrollers used in a wide array of electronics, agreed this month to be bought by Dialog Semiconductor Plc for about $4.6 billion. E.ON : E.ON Russia, a unit of Germany's biggest utility, expects no growth in power consumption and output in Russia next year as the country's economic downturn worsens, its chief executive said on Monday. GAMESA : Gamesa said it has signed a contract to supply 72.5 MW in capacity for windfarms in Turkey (52.5 MW), Cyprus (10 MW) and Kuwait (10MW). GLENCORE : Commodity trader Glencore's Hong Kong-listed shares were around 28-percent lower on Tuesday, after its London-listed stock plunged on debt worries a day earlier. RWE : The German government should help RWE financially as the country's largest utility grapples with Berlin's decision to phase out nuclear power and push into renewable energy, a senior member of Chancellor Angela Merkel's conservatives said. SANOFI : Sanofi and Eli Lilly said they agreed to end a lawsuit over Lilly's right to market a copy of the French drugmaker's injectable insulin product in the United States. Sanofi also added that its application for review for its new drug, lixisenatide, a diabetes treatment, had been accepted by the U.S. Food and Drug Administration. SOCIETE GENERALE : French bank Societe Generale is considering closing up to one in five branches by 2020, financial daily Les Echos said on Monday, quoting labour union sources. VOLKSWAGEN : The supervisory board of Volkswagen's Porsche business may name the sports-car maker's production chief Oliver Blume as the division's new chief executive this week, two people familiar with the matter told Reuters on Monday. (Reporting by Sudip Kar-Gupta)
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