17 de septiembre de 2014 / 5:38 / hace 3 años

Europe Factors to Watch-Shares set to track U.S. rally ahead of Fed

PARIS, Sept 17 (Reuters) - European stocks were set to rise on Wednesday, bouncing back from two-week lows and tracking a rally on Wall Street spurred by a report which shifted investor expectations for the Federal Reserve’s policy statement due on Wednesday.

At 0620 GMT, futures for Euro STOXX 50, for UK’s FTSE 100, for Germany’s DAX and for France’s CAC were up 0.2-0.3 percent.

After early losses in New York on Tuesday, major indexes turned positive, with traders citing a report in the Wall Street Journal as indicating the Fed could be less hawkish than markets have been expecting.

The Fed began its two-day policy meeting on Tuesday, and while it has said it doesn’t expect to raise rates until 2015, recent strong economic data has led Fed officials to acknowledge they may need to move sooner than they previously anticipated.

French stocks will be in the spotlight after Prime Minister Manuel Valls headed off a backbench revolt against his government late on Tuesday, winning a confidence vote after promising to preserve France’s social model while pushing pro-business reforms intended to boost economic growth.

“It was a close call but it’s enough to stabilise the political situation in the short term. This is essential as the government needs to go ahead with various reforms,” said Alexandre Baradez, chief market analyst at IG France.

“However, there are still plenty of question marks over France, particularly on the pace of the reforms, while Moody’s is set to review its rating on the country by the end of the week.”

UK equities will also be in focus after three different opinion polls showed Scottish supporters of staying in the United Kingdom are 4 percentage points ahead of secessionists with just a day to go before Scots vote in an independence referendum.

Resource-related shares will be eyed after media reports said China’s central bank is injecting a combined 500 billion yuan ($81.35 billion) of liquidity into the country’s top banks, a sign that authorities are stepping up efforts to shore up a faltering economy.

However, iron ore prices dropped again, reflecting continued pressure from a well-supplied market and as Chinese steel prices slipped for the second session to trade near a record low on Wednesday.

Europe bourses in 2014: (link.reuters.com/pad95v)

Asset performance in 2014: (link.reuters.com/rav46v) ------------------------------------------------------------------------------ > GLOBAL MARKETS-ASIA SHARES RISE ON FED, CHINA POLICY SPECULATION > US STOCKS-WALL ST CLIMBS AS EXPECTATIONS SHIFT ON FED POLICY > NIKKEI RISES ON FIRM WALL STREET; MARKET AWAITS FED OUTCOME > FOREX-DOLLAR ON EDGE AS FED LANGUAGE EYED, AUSSIE SURGES > PRECIOUS-GOLD INCHES UP FOR 3RD DAY; FED EYED FOR RATE OUTLOOK > METALS-LONDON COPPER UP AS FED RATE HIKE EXPECTATIONS UNWOUND > BRENT KEEPS GAINS, STAYS NEAR $99 ON OPEC OUTPUT CUT TALK

COMPANY NEWS:

INDITEX

Zara owner Inditex posted a shallower-than-expected 2.4 percent year-on-year fall in first-half net profit on Wednesday as negative currency effects eased and said sales for the start of the third quarter rose 10 percent.

DEUTSCHE BANK

The state of Virginia said on Tuesday that it sued Deutsche Bank and 11 other banks, accusing them of defrauding the state’s retirement fund by selling it shoddy mortgage bonds in the run-up to the recent financial crisis.

CREDIT SUISSE

The U.S. Federal Reserve has asked Credit Suisse Group AG to immediately address problems relating to the bank’s underwriting and sale of leveraged loans, or high-interest-rate loans used by private-equity firms to finance deals, the Wall Street Journal reported, citing a source familiar with the matter.

RICHEMONT

Cartier owner Richemont said the pace of sales growth slowed to 4 percent in the five months to August on a constant currencies basis compared with 9 percent in the year-ago period, due to weakness in Asia Pacific.

POP EMILIA Banca Popolare dell‘Emilia Romagna will ask for two billion euros of funds the European Central Bank (ECB) is due to offer as part of a new long-term loan programme, a source close to the regional lender said on Tuesday.

TELEFONICA TELECOM ITALIA

Brazilian telecommunications company Grupo Oi SA’s shares soared on Tuesday after a media report that Telecom Italia is considering taking over the company to counter Spanish rival Telefonica TEF.MC in Latin America’s largest phone market.

BNP PARIBAS

France’s biggest listed bank aims to boost return on equity in Poland to a double-digit percentage by 2017 after acquiring Bank BGZ, said Jean-Paul Sabet, deputy head of international retail banking.

BARCLAYS

The New York attorney general on Tuesday rebutted Barclays’ motion to dismiss the state’s lawsuit alleging fraud in how it ran a private trading platform, calling the arguments in the petition “misguided” and “disingenuous.”

VODAFONE GROUP PLC

Mobile operators EE and Vodafone Group which withdrew their business with Phones 4u last few weeks are in talks individually with the administrator to acquire parts of Phones 4u’s business, including some of its stores, employees and shares across Britain, the Financial Times wrote on Wednesday.

BP

A U.S. judge has reprimanded BP for using tactics that would “not be appropriate for a college term paper” after the oil giant tried to sneak six extra pages into a court filing by manipulating line spacings, The Telegraph wrote on Wednesday.

SANOFI

The French drugmaker unveiled a partnership with U.S.-based MyoKardia to develop therapies for patients with genetic heart diseases.

INGENICO

The French payments company said it has signed a deal with LVMH-owned Spanish luxury retailer Loewe to provide iPhone-based payment services to its network of 160 stores around the world.

JAZZTEL, ORANGE

A sharp rise in the price of Jazztel shares on Monday, shortly before the announcement of an offer by French telecom operator Orange, will be investigated by the Spanish stock market regulator, the CNMV, an Orange executive said on Tuesday.

IG GROUP

A provider of online trading in shares, foreign exchange and contracts for difference, said on Wednesday that first-quarter revenue fell 9 percent as quiet financial markets dampened client trading activity.

INTESA SANPAOLO, UNICREDIT

A plan by Italy’s top two banks, Intesa Sanpaolo and Unicredit, to pool some of their restructured loans with the help of U.S. private equity fund KKR is not likely to be completed this year, two sources with direct knowledge of the matter said.

AIRBUS

Qatar Airways has taken delivery of its first A380 superjumbo following a three-month standoff with planemaker Airbus over the quality of cabin fittings.

ZODIAC AEROSPACE

Full-year sales rose 7.2 percent in full-year 2013/14, or 7.6 percent on an organic basis, but the operating margin will be dampened by just under 1 percentage point due to the cost of reducing delays in deliveries of galleys and seats for aircraft, the aerospace supplier said. It also announced a new cabin layout option for the Airbus A320.

Reporting by Blaise Robinson; Editing by James Regan

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