European Factors to Watch -Shares set to ease off post-election highs

martes 27 de mayo de 2014 02:40 GYT
 

EDINBURGH, May 27 (Reuters) - European stocks are expected to dip on
Tuesday, pulling back from multi-year highs hit in the previous session after
solid election showings for governing parties in Germany and Italy.
    But UK stocks were poised to gain following a public holiday on Monday when
they missed out on the strong rise in European equities.
    On Monday, Germany's DAX hit a record high and the euro zone Euro
STOXX 50 hit a new 5-1/2 year peak as showings by pro-European
forces in Germany and Italy provided an antidote to Eurosceptic gains in France,
the UK and Greece.
    Italy's FTSE MIB was set to pull back 0.4 percent, according to
spreadbetter IG, after climbing 3.6 percent in the previous session.
    "The MIB rallied quite significantly led by the banks and it is likely to be
the weakest performer at the open as it gives back some of these gains," Stan
Shamu, market strategist at IG, said in a note.
    At 0624 GMT, futures for the Euro STOXX 50, Germany's DAX 
and France's CAC were 0.1 to 0.2 percent lower, but futures for
Britain's FTSE 100 were up 0.5 percent.
    Market focus may shift to mergers and acquisitions (M&A) news, as sources at
Siemens told Reuters it is readying a formal offer for Alstom
 just hours after U.S. pharmaceutical Pfizer formally ended its
pursuit of the UK's AstraZeneca.  
    Accor, Europe's largest hotel group, could also be in focus after
it said on Tuesday it had agreed to buy the assets of 97 hotels in Europe it had
been operating under variable-leases for about 900 million euros, in a move the
company said would boost earnings. 
    
    
    Europe bourses in 2014: (link.reuters.com/pad95v)
    Asset performance in 2014: (link.reuters.com/rav46v)
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  MARKET SNAPSHOT AT 0626 GMT: 
    
                                                 LAST    PCT CHG   NET CHG
 S&P 500                                     1,900.53     0.42 %      8.04
 NIKKEI                                      14636.52     0.23 %        34
 MSCI ASIA EX-JP                               487.15    -0.21 %     -1.01
 EUR/USD                                       1.3651     0.04 %    0.0006
 USD/JPY                                       101.89    -0.05 %   -0.0500
 10-YR US TSY YLD                               2.543         --      0.01
 10-YR BUND YLD                                 1.422         --      0.01
 SPOT GOLD                                  $1,286.81    -0.46 %    -$5.93
 US CRUDE                                     $104.43     0.08 %      0.08
 
  > GLOBAL MARKETS-Asian shares waver, ECB talk weighs on euro    
  > Nikkei hits 7-week high, strong global data supports        
  > FOREX-Euro drifts off low but U.S. holiday saps momentum    
  > PRECIOUS-Gold steady as U.S. data eyed; platinum rises        
  > METALS-London copper hits near 3-mth high on China buying    
  > Brent rises toward $111 on worries over Ukraine, Libya        
    
    ALSTOM, SIEMENS 
    Siemens is readying a formal offer for Alstom under which it would transfer
its rail activities and less than 7 billion euros in cash to its French rival in
exchange for its power assets, sources familiar with the German firm's thinking
say. 
    Top executives from Siemens and from rival bidder General Electric are due
to be interviwed by a parliamentary committee later on Tuesday.
    
    ACCOR 
    Europe's largest hotel group said on Tuesday it had agreed to buy the assets
of 97 hotels in Europe it was operating under variable-leases for about 900
million euros. 
    
    GEMALTO 
    Moldova selected Gemalto for its new electronic passport programme
 
    
    UBS 
    UBS named Gary Head as its new global chief of cash equities, promoting the
Australia-based banker and triggering a reshuffle of the Swiss bank's management
in that country, according to a series of internal memos obtained by Reuters on
Tuesday.
    For more, click on 
    
    FCC 
    The Spanish construction and services group has presented a non-binding
offer for the state waste management company in Portugal Empresa Geral do
Fomento (EGF), valued at 250 million euros, reported financial daily Expansion
on Tuesday, citing sources close to the company.
    
    BANCO POPULAR 
    The Spanish bank could team up with shareholder Credit Mutuel to help it
make offers to buy the Spanish business of Citibank and CatalunyaCaixa,
financial daily El Economista reported on Tuesday, citing sources with knowledge
of the processes. 

    CLUB MED 
    Funds led by Italian businessman Andrea Bonomi could make a counterbid for
Club Mediterranee, saying on Monday they would first need access to the French
holiday group's books before making a decision.  
    

 (Reporting by Alistair Smout; Editing by Tricia Wright)