Europe Factors to Watch-Shares set to pause; ECB eyed

jueves 7 de agosto de 2014 02:33 GYT
 

PARIS, Aug 7 (Reuters) - European stocks were set to inch higher on
Thursday, taking a breather following their week-long slide as investors awaited
the European Central Bank policy meeting, but the rebound could be limited as
tensions between the West and Russia continued to rattle investors.
    In a sweeping response to Western sanctions imposed over its support for
rebels in Ukraine, Russia will ban all imports of food from the United States
and all fruit and vegetables from Europe, the state news agency reported on
Wednesday. Russia is by far the biggest buyer of European fruit and vegetables.
 
    The ECB is set to hold fire on rates on Thursday as it waits for earlier
stimulus measures to gain traction, while keeping an eye on emerging risks from
the conflict in Ukraine. 
    At 0630 GMT, futures for Euro STOXX 50, for UK's FTSE 100,
for Germany's DAX and for France's CAC were flat to up 0.1
percent.
    The FTSEurofirst 300 index of top European shares has lost 3.1
percent over the past five sessions, hurt in part by fears over the impact from
the Ukrainian crisis.
    The banking sector will be in focus after Commerzbank posted an
increase in second-quarter earnings due in part to a fall off in bad loans, as
Germany's second biggest lender accelerated the clean up of unwanted assets.
 
    Also on the earnings front, food giant Nestle stood by its
full-year outlook on Thursday and said it would launch an 8 billion Swiss franc
share buyback after sales growth in emerging markets picked up in the second
quarter. 
            
    Europe bourses in 2014: (link.reuters.com/pad95v)
    Asset performance in 2014: (link.reuters.com/rav46v)
------------------------------------------------------------------------------
  MARKET SNAPSHOT AT 0628 GMT: 
                                         LAST  PCT CHG  NET CHG
 S&P 500                             1,920.24      0 %     0.03
 NIKKEI                              15232.37   0.48 %    72.58
 MSCI ASIA EX-JP                       499.82  -0.59 %    -2.96
 EUR/USD                               1.3376  -0.04 %  -0.0005
 USD/JPY                               102.34   0.24 %   0.2500
 10-YR US TSY YLD                       2.462       --    -0.01
 10-YR BUND YLD                         1.090       --    -0.01
 SPOT GOLD                          $1,306.19   0.02 %    $0.20
 US CRUDE                              $96.94   0.02 %     0.02
 
  > GLOBAL MARKETS-ASIA STOCKS SLIP, BONDS FIRM ON UKRAINE TENSIONS 
  > US STOCKS-WALL STREET ENDS NEAR FLAT AS RUSSIA CONCERNS LINGER 
  > NIKKEI FALLS FOR 6TH DAY ON STRONG YEN, CONCERNS ON UKRAINE 
  > FOREX-EURO STEADY AHEAD OF ECB; AUSSIE SLIDES ON WEAK JOBS DATA 
  > GOLD WELL BID ABOVE $1,300 AS UKRAINE BOOSTS SAFE-HAVEN APPEAL 
  > METALS-LONDON COPPER EDGES UP AS DOLLAR TURNS LOWER 
  > BRENT SUPPORTED BY U.S. INVENTORY DATA, UKRAINE CONFLICT 
    
    COMPANY NEWS:
    
    NESTLE 
    Food group Nestle stood by its full-year outlook on Thursday and said it
would launch an 8 billion Swiss franc share buyback after sales growth in
emerging markets picked up in the second quarter. 
    
    DEUTSCHE TELEKOM 
    The group reported a bigger-than-expected quarterly core profit as a rise in
earnings in the United States offset heavy investments in its German networks.
 
    
    COMMERZBANK 
    Germany's second biggest lender accelerated the clean-up of unwanted assets
and posted an increase in second-quarter earnings due in part to a fall off in
bad loans. 
    
    ZURICH INSURANCE GROUP 
    Zurich Insurance Group posted a lower-than-expected rise in net income for
the second quarter on Thursday and said it had largely completed its
restructuring programme. 
    
    ADECCO 
    The world's largest staffing company said underlying revenue growth slowed
slightly to 5 percent in the second-quarter, underscoring the fragility of
Europe's touch-and-go economic recovery. 
    
    EURONEXT 
    The European stock market operator posted a 4.6 percent rise in
second-quarter operating profit before exceptional items, boosted by cost
cutting and a rise in stock market listings activity. 
    
    ANHEUSER-BUSCH INBEV 
    The world's largest brewer is creating a new business unit in the United
States devoted to premium beers as it tries to improve its presence in a
fast-growing segment of the beer market. 
    
    UK INSURER RSA 
    The group posted an interim pretax profit of 69 million pounds ($116.20
million) on Thursday and said it was making good progress in stabilising its
financial health after a year of upheaval following problems at its Irish unit.
 
    
    LUNDBECK 
    The Danish pharmaceutical group posted second-quarter operating profit below
forecasts on Thursday, but kept its operating profit and sales outlook for the
full year. 
    
    RHEINMETALL 
    The group slashed its 2014 operating profit aim after the German government
withdrew its approval for a contract with Russia and the group shifted some of
its automotive business to a joint venture. 
    
    STADA ARZNEIMITTEL AG 
    The German generic drugmaker said net income stagnated in the first half as
gains from the takeover of British consumer care company Thornton & Ross were
offset by lower sales in Russia and Germany. 
    
    ADIDAS 
    The world's second-biggest sportswear firm cut its margin targets for 2014
on Thursday, a week after it issued a profit warning, blaming poor performance
at its golf business and volatile emerging market currencies. 
    
    KBC 
    The Belgian financial group's profit fell by less than expected in the
second quarter as higher net interest income and increased loans and deposits
partly made up for a hit from a new law on retail loans in Hungary. 
    
    AVIVA 
    The British insurer posted a 4 percent rise in first-half operating profit
as its European and UK general insurance businesses built on a strong start to
the year, making up for weakness in Canada. 
    
    NOVO NORDISK 
    The world's top maker of insulin maintained its 2014 outlook on Thursday and
set a date for when it would submit to the U.S. Food and Drug Administration an
analysis to back a crucial future drug. 
    
    SYMRISE 
    The German fragrance and flavours maker said core earnings rose 7.5 percent
in the first half of the year, helped by strong growth in emerging markets,
particularly Latin America. 
    

 (Reporting by Blaise Robinson; Editing by Alistair Smout)