European Factors to Watch-Shares seen down on poor China data
LONDON, Sept 15 (Reuters) - European shares were expected to fall on Monday, with disappointing data from China raising fresh concerns about the pace of economic growth in the world's second-biggest economy. Weekend data showed China's factory output grew at the weakest pace in nearly six years in August while growth in other key sectors also cooled, increasing fears the world's second-largest economy may be at risk of a sharp slowdown unless Beijing takes fresh stimulus measures. Chinese data came just ahead of this week's independence referendum in Scotland on Sept. 18 and the U.S. Federal Reserve's policy review on Sept 16-17, making investors more nervous. At 0629 GMT, futures for the Euro STOXX 50, Britain's FTSE 100 , Germany's DAX and France's CAC were 0.3 to 0.5 percent lower. "China has flapped their hands in the air to remind everyone that they are facing an abrupt slowdown. With positive cues evaporating and uncertainty stacking up, it's only natural that risk aversion is setting in early this week," Jonathan Sudaria, dealer at Capital Spreads, said in a note. Brent crude slumped to a more than two-year low under $97 per barrel following the data from China, the world's top energy and metals consumer, while copper prices fell towards a three-month low. Investors' focus this week will be on the U.S. Federal Reserve, which may give clearer hints on when it will hike the cost of borrowing in the United States. As the U.S. economy picks up pace, the Fed is inching closer to raising rates, a move that will send ripples across the globe. The Fed meeting will conclude just a day before a tight vote in Scotland on September 18 on whether to leave the United Kingdom. Until September, all polls but one in 2013 had shown the unionists with a comfortable lead but several surveys this month show the nationalists have won over hundreds of thousands of Scotland's 4 million voters. On the mergers and acquisitions front, Dutch brewer Heineken said on Sunday it was approached by larger rival SABMiller about a potential takeover but that its controlling shareholder intended to keep the company independent. U.S. healthcare conglomerate Danaher Corp said it will buy Nobel Biocare Holding AG in an all-cash deal valued at about $2.2 billion, including debt, to widen its market presence in the global dental industry. Danish telecom operator TDC has agreed to acquire Norwegian cable company Get AS for around 12.5 billion Danish crowns ($2.2 billion) on a cash and debt free basis, the company said on Monday. ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0630 GMT: LAST PCT CHG NET CHG S&P 500 1,985.54 -0.6 % -11.91 NIKKEI 15948.29 0.25 % 39.09 MSCI ASIA EX-JP 496 -0.9 % -4.51 EUR/USD 1.2952 -0.09 % -0.0012 USD/JPY 107.19 -0.12 % -0.1300 10-YR US TSY YLD 2.603 -- -0.01 10-YR BUND YLD 1.084 -- 0.00 SPOT GOLD $1,233.20 0.41 % $5.07 US CRUDE $91.21 -1.15 % -1.06 MAJOR MACROECONOMIC DATA/EVENTS (GMT) : 0900 EZ Eurostat Trade 1230 US NY Fed Manufacturing 1315 US Industrial Output > ASIAN STOCKS TUMBLE AS CHINA ANXIETY SAPS CONFIDENCE > WALL ST DECLINES WITH ENERGY, ENDS 5-WEEK STRING OF GAINS > NIKKEI ENDS AT 8-MONTH HIGH AS WEAK YEN LIFTS EXPORTERS > BOND YIELDS RISE AFTER SOLID DATA HINTS AT HAWKISH FED > USSIE DLR BEARS EMBOLDENED BY CHINA DATA, OTHERS CALMER > GOLD NEAR 8-MONTH LOW ON FEARS OF HAWKISH FED, WEAK PHYSICAL BUYING > METALS-LME COPPER NEAR 3 MONTH LOW ON CHINA GROWTH JITTERS > BRENT HITS 26-MONTH LOW UNDER $97 ON WEAK CHINA DATA COMPANY NEWS HEINEKEN, SABMILLER Dutch brewer Heineken said on Sunday it was approached by larger rival SABMiller about a potential takeover but that its controlling shareholder intended to keep the company independent. NOBEL BIOCARE HOLDING U.S. healthcare conglomerate Danaher Corp said it will buy Nobel Biocare Holding in an all-cash deal valued at about $2.2 billion, including debt, to widen its market presence in the global dental industry. TDC Danish telecom operator TDC has agreed to acquire Norwegian cable company Get AS for around 12.5 billion Danish crowns ($2.2 billion) on a cash and debt free basis, the company said on Monday. HENNES & MAURITZ Swedish budget fashion retailer Hennes & Mauritz said on Monday its sales rose 19 percent in August, beating a forecast of 13 percent in a Reuters poll of analysts. AIR FRANCE Europe's second-largest traditional carrier by revenue will operate only 40 percent of its flights from Monday as pilots begin a one-week strike over company plans to cut costs to recapture market share from budget airlines. CLUB MED Shares in the holiday group are due to resume trading on Monday after they were suspended on Friday ahead of a counteroffer by Chinese conglomerate Fosun that outbid Italian tycoon Andrea Bonomi. Fosun's 22 euro-a-share bid is 1 euro-per-share higher than Bonomi's and values Club Med at 839 million euros ($1.09 billion). AXA Axa Global Direct will continue to look for takeover possibilities in Poland as it wants to boost its presence in the country, the company's Chief Executive Officer Stephane Guinet said on Friday. TOTAL, ENI Fresh U.S. and EU sanctions imposed on Moscow will bring an abrupt halt to exploration of Russia's huge Arctic and shale oil reserves and complicate financing of existing Russian projects from the Caspian Sea to Iraq and Ghana. Lukoil, one of the companies targeted, was planning to drill for tight oil in Siberia with French oil major Total. GDF SUEZ Gas and power group GDF Suez said on Friday it will appeal the French competition authority's order forcing it to give competitors access to its client databases. LAGARDERE Writers published by Hachette Book Group and their allies are planning to appeal directly to the board of Amazon.com Inc to find a way out of the impasse over e-book prices, the New York Times reported. The writers have been at the receiving end of a dispute which has seen Amazon delay deliveries and cut discounts on some books published by Hachette, the fourth-largest U.S. book publisher owned by France's Lagardere. LVMH The French luxury group's watch brand TAG Heuer has plans to launch its own smartwatch, the head of its watch business told a Swiss newspaper. SANTANDER Spanish bank Santander holds its first shareholder's meeting with Ana Botin as chair, after the death of her father and former chairman Emilio Botin last week, and will be closely watched for signs of any change in strategy. MUNICH RE Munich Re expects competitors to put up a tough fight in the coming months as reinsurers jostle over market share in renewing annual contracts with insurance company clients, it said on Sunday. ALLIANZ The insurer is planning to sell the personal insurance business of its U.S. subsidiary Fireman's Fund as the unit continues to miss its targets, Sueddeutsche Zeitung reported on Saturday. DRAEGERWERK The medical safety technology company, dogged by sluggish demand for its products in some parts of the world, is expecting a rebound in China and the U.S. and will not cut its outlook again, CFO Gert-Hartwig Lescow told Boersen-Zeitung's Saturday edition. Related news AXEL SPRINGER The publisher has terminated talks with Ringier about the acquisition of political magazine Cicero and art magazine Monopol from the Swiss peer over a disagreement on terms, Der Spiegel reported on Sunday. SYNGENTA Cargill Inc, the top U.S. grain exporter, sued a unit of Syngenta AG in a Louisiana state court on Friday for damages stemming from China's rejection of genetically modified U.S. corn, which Cargill said cost the company more than $90 million. For more, click on ROCHE Swiss drugmaker Roche said on Friday that compromised vials of its top-selling blood cancer drug MabThera had been found in Germany, the second time this year that one of its medicines has been targeted by counterfeiters. UNICREDIT The Italian bank will likely choose a partner for exclusive talks to buy a stake of up to 50 percent in its asset management division Pioneer between Monday and Wednesday, Il Sole 24 Ore said on Saturday in an unsourced report. BANCA MONTE DEI PASCHI DI SIENA A group of small shareholders in the bank, which own around 1 percent of the lender's capital, plans to create a consortium that would seek to aggregate a 2.5 percent stake in the bank in order to enter the shareholder pact that includes the Monte Paschi foundation, BTG Pactual and Fintech, MF said in an unsourced report on Saturday. RENAULT Nissan boss Carlos Ghosn is preparing to cut battery manufacturing, people familiar with the matter said, in a new reversal on electric cars that has reopened deep divisions with alliance partner Renault. TUI AG Europe's biggest tour operator, TUI Travel, and majority owner TUI AG said they had reached agreement on the terms of a recommended all-share nil-premium merger, creating a 6.5 billion euro holiday company. (Reporting by Atul Prakash, editing by Tricia Wright)
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