Europe Factors to Watch-Shares set to open higher; eyes on BNP
PARIS, June 30 (Reuters) - European stocks were seen rising on Monday, set to end the second quarter on a positive note as investors hope the raft of U.S. and European macro data due in the week will soothe recent worries over the pace of economic growth. Shares in French bank BNP Paribas will be in focus after sources said the U.S. Justice Department is expected to announce on Monday a settlement with BNP involving a record fine of nearly $9 billion over alleged U.S. sanctions violations. At 0616 GMT, futures for Euro STOXX 50, for UK's FTSE 100, for Germany's DAX and for France's CAC were up 0.1-0.2 percent. Investors are hoping to see evidence of an economic rebound in this week's macro data which includes U.S. monthly payrolls report on Thursday, a day early due to the July 4 holiday. Economists polled by Reuters on average expect jobs to rise 213,000 in June for the fifth straight month of gains above 200,000. "The bulls are hanging in there, hoping that a possible run of good economic data out of the U.S. this week can reignite sentiment and appetite for risky assets," Jonathan Sudaria, trader at Capital Spreads, wrote in a note. Investors will also focus on a batch of European macro indicators, including euro zone inflation data for June, due at 0900 GMT on Monday - which should show inflation stuck at a low 0.5 percent, the ninth consecutive month in the ECB's "danger zone" of below 1 percent. The FTSEurofirst 300 index of top European shares slipped 1.7 percent last week, hurt by downbeat U.S. growth data as well as worries over violence in Iraq, snapping a 10-week long run of weekly gains - its longest winning streak since mid-2012. The week was also marked by investment outflows, with European equity funds suffering redemptions of $1.6 billion, their biggest outflows in over a year, according to data from BofA Merrill Lynch Global Research. But despite the week's pull-back, investors remain positive on the longer-term. A Reuters poll released last week showed that investors are bullish over the outlook for European shares in the second half of the year, betting on them extending their rally, helped by the ECB's stimulus measures. Europe bourses in 2014: (link.reuters.com/pad95v) Asset performance in 2014: (link.reuters.com/rav46v) ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0618 GMT: LAST PCT CHG NET CHG S&P 500 1,960.96 0.19 % 3.74 NIKKEI 15162.1 0.44 % 67.1 MSCI ASIA EX-JP 493.4 0.19 % 0.94 EUR/USD 1.365 0.02 % 0.0003 USD/JPY 101.29 -0.07 % -0.0700 10-YR US TSY YLD 2.530 -- 0.00 10-YR BUND YLD 1.260 -- 0.00 SPOT GOLD $1,315.86 0.06 % $0.82 US CRUDE $105.22 -0.49 % -0.52 > GLOBAL MARKETS-ASIA STOCKS MAKE CAUTIOUS GAINS, YEN EDGES HIGHER > US STOCKS-WALL ST RISES WITH TECH SHARES; DUPONT DRAGS > NIKKEI STABILISES AFTER SELLOFF, CAPPED BY SALES TAX CONCERNS > FOREX-DOLLAR STRUGGLES AFTER SETBACK, PAYROLLS IN FOCUS THIS WEEK > GOLD STEADY NEAR TWO-MONTH HIGH, POISED FOR SECOND QUARTERLY GAIN > METALS-LONDON COPPER EYES SECOND MONTHLY RISE ON TIGHT SUPPLY > BRENT SLIPS TOWARDS $113 AS SUPPLY RISKS FROM IRAQ EASE COMPANY NEWS: BNP PARIBAS The U.S. Justice Department is expected to announce on Monday a settlement with the French bank involving a record fine of nearly $9 billion over alleged U.S. sanctions violations by France's biggest bank, sources familiar with the matter said. BANCA MONTE DEI PASCHI DI SIENA Italy's Banca Monte dei Paschi di Siena said on Friday it had raised 4.99 billion euros ($6.81 billion) through a sale of new shares, allowing it to repay much of its state aid and increasing chances it could pass an EU review of bank assets. GENMAB, GLAXOSMITHKLINE * GlaxoSmithKline and Denmark's biotech company Genmab said late on Friday their cancer drug Arzerra failed to treat a type of leukemia more effectively than other drugs in a late-stage trial. * GlaxoSmithKline on Sunday confirmed the existence of an intimate video recording of its former China head, Mark Reilly, which the Sunday Times reported kicked off a bribery investigation that has damaged the drugmaker's business in China. ITALCEMENTI Italy's Italcementi, the world's fifth-largest cement producer, said on Friday its 500 million euro ($682 million) capital increase was 99.4 percent subscribed. ACCOR French ministers on Sunday attacked proposals by lawmakers to increase taxes on hotel stays and called for them to be scrapped as they could undermine plans to boost the tourism sector. Sebastien Bazin, chief executive of Europe's largest hotel group Accor ACCP.PA, has said the new taxes would severely cut hotel margins and penalize tourism. ANGLO AMERICAN The miner has put some of its platinum mines in South Africa up for sale in a move by Chief Executive Mark Cutifani to dispose of underperforming assets, the Sunday Times reported. BARCLAYS Barclays has hired lawyers from the high-profile firm Wilmer Cutler Pickering Hale and Dorr LLP to help the bank defend itself against accusations that it deceived investors in its "dark pool" trading venue, according to people familiar with the matter. SHIRE The boss of U.S. drug-maker AbbVie Inc is flying into London this week to court Shire's shareholders and try to convince them of the merits of a potential takeover, the Telegraph reported. BG GROUP The partners in Israel's giant Leviathan natural gas field said they had signed a preliminary agreement with British oil and gas company BG Group BG.L to negotiate a deal to export gas to BG's liquefied natural gas plant in Idku, Egypt. MERCK KGAA The listing of Merck shares on the regulated market of the Frankfurt Stock Exchange will be changed on Monday in line with the approval of a 1:2 share split by the group's annual general meeting in May. SIEMENS The company's works council two weeks ago approved restructuring plans to scrap a layer of management by cutting the organization back to nine core divisions, Der Spiegel reported on Sunday, without citing the source of the information. THYSSENKRUPP The steelmaker said late on Sunday it had agreed to sell its submarine shipyard in the south of Sweden to Swedish defence firm Saab for 340 million Swedish crowns ($50.47 million). ACS Spain will pay 1.4 billion euros in compensation to Escal UGS, jointly owned by building and services group ACS and Canada's Dundee Energy DEN.TO, holder of offshore gas facility Castor, after the unit was shut down following seismic activity. (Reporting by Blaise Robinson; Editing by Anupama Dwivedi)
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