European Factors to Watch- Shares to halt fall, eyes on German Ifo
(Rewrites throughout, adds futures, more company news) By Francesco Canepa LONDON, Sept 24 (Reuters) - Euro zone indexes were seen halting their recent slide on Wednesday, helped by some supportive comment by the European Central Bank President Mario Draghi and mirroring gains in Asian shares, although the mood remained cautious ahead of a key German sentiment report. At 0638 GMT, futures for the Euro STOXX 50, Germany's DAX and France's CAC were between 0.1 percent and 0.3 percent higher, while contracts on Britain's FTSE 100 were 0.1 percent lower. Speaking in a French radio interview, Draghi said euro zone monetary policy would remain accommodative for a long period and that the goal was to push ultra-low inflation back up closer to the two percent level. European investors were taking their cue from a recovery in the Asian markets, where the MSCI broadest index of Asia-Pacific shares outside Japan recovered from a four-month overnight thanks to a rally in Chinese shares. Following a raft of worse-than-expected economic data from euro zone countries, including German and French business surveys on the previous day, investors braced for more disappointment when Germany's Ifo business morale index is published at 0800 GMT. The Ifo business climate index was expected to have fallen to 105.7 points in September from 106.3 points in the previous month. "I think everybody will be careful as there is a real risk of disappointment," Mike Reuter, a broker at Tradition, said. "Some risk-off is likely to continue with more shift into safer assets out of equities but not a dramatic move. China is actually helping a bit with Shanghai and Hong Kong ticking better for the second session so we might get some help from there." The United States and its Arab allies bombed militant groups in Syria for the first time on Tuesday, opening a new front amid shifting Middle East alliances and sapping demand for risk. COMPANY NEWS ROYAL BANK OF SCOTLAND RBS said the initial public offering of Citizens Financial Group Inc was priced at $21.50 per share, valuing its U.S. unit at about $12 billion. ADECCO Adecco, the world' largest temporary staffing company by sales, said on Wednesday sales rose in the first two months of the third quarter. For more click on UNICREDIT, SANTANDER UniCredit and Spain's Santander SA are in talks to merge their fund management businesses and create a European powerhouse overseeing some 350 billion euros ($450 billion) of assets. TELEFONICA Spain's Telefonica is considering a range of tie-up options in Mexico with broadcaster Grupo Televisa, including creating a new telecommunications company together, a person with knowledge of the matter said. For more click on FCC Billionaire George Soros will not raise his stake in Spanish building and services company FCC when the company implements a planned share sale, Bloomberg reported on Tuesday, citing two people familiar with the matter. PHARMA Pfizer Inc, which in May abandoned its attempt to buy British drugmaker AstraZeneca Plc, has approached Dublin-based generic drugmaker Actavis Plc to express its interest in an acquisition, Bloomberg reported, citing people with knowledge of the matter. TELECOMS The elimination of roaming fees for using mobile phones in other EU countries could be delayed in what would be a win for big European telecoms operators at the expense of consumers, according to a draft EU proposal. VESTAS WIND SYSTEMS The Danish wind turbine maker announced late on Tuesday it had received an order in Texas for 55 of its V110-2.0 MW turbines, corresponding to a total order size of 110 MW. For more on the company, click ASSA ABLOY The Architecture Billings Index, considered a leading indicator of U.S. non-residential construction, fell in August from a seven-year high in July, the American Institute of Architects said. The ABI fell to 53.0 in August from 55.8 in July, still reflecting an increase in design activity, while the Institutional sector index, the most relevant sub-index to Assa Abloy, the world's biggest lock maker, posted its largest gain since 2007. For more on the company, double click AIRBUS GROUP French industrial group Airbus is in talks with GMR Group to buy a stake in the Indian group's aircraft maintenance Unit, Indian newspaper Business Standard reported on Wednesday. The Financial Times reported Airbus Group is packing more seats into its A380 superjumbo aircraft, hoping to revive interest in the world's largest passenger jet. ARM HOLDINGS PLC British technology company Arm Holdings is releasing a chip designed for connected home appliances and wearable products, hoping to open up new avenues for future growth. KINNEVIK The Swedish investment group said the planned floatation of Germany's Rocket Internet would value its stake in the company 5.3-6.7 billion crowns ($741-937 million) higher than reported at the end of June, equivalent to an increase in net asset value of 19-24 crowns per share. Rocket on Tuesday set the price in a range of 35.50 to 42.50 euros per share and said it expected gross proceeds of about 1.48 billion euros ($1.90 billion), assuming it places the maximum number of shares at the mid-point of the price range, corresponding to a market capitalisation of 6.2 billion euros. For a full story double click on CODERE Spanish gambling company Codere said on Tuesday it had struck a debt refinancing deal with the majority of its bondholders. For more, please click on MAJOR MACROECONOMIC DATA/EVENTS (GMT) : 0800 IT Consumer Confid Sep 0800 DE Ifo Current Con Sep 1400 US New Home Sales Aug No major European company is due to report results on Wednesday. MAJOR U.S. COMPANIES REPORTING : Q4 2014 Accenture ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0640 GMT: LAST PCT CHG NET CHG S&P 500 1,982.77 -0.58 % -11.52 NIKKEI 16167.45 -0.24 % -38.45 MSCI ASIA EX-JP 486.29 0.16 % 0.76 EUR/USD 1.2842 -0.02 % -0.0003 USD/JPY 108.66 -0.2 % -0.2200 10-YR US TSY YLD 2.549 -- 0.02 10-YR BUND YLD 1.024 -- 0.01 SPOT GOLD $1,224.05 0.11 % $1.36 US CRUDE $91.78 0.24 % 0.22 > ASIA STOCKS HIT BY SYRIA AIR STRIKES, LOWER YIELDS CHECK DOLLAR > WALL ST ENDS LOWER, S&P 500 FALLS FOR THIRD STRAIGHT DAY > NIKKEI SLIPS AS U.S. AIR STRIKES STOKE GEOPOLITICAL CONCERNS > BOND YIELDS FALL ON WEAK EUROPEAN DATA, U.S. STRIKES > DOLLAR INDEX UNDERPINNED BY SAFETY-BID AFTER U.S. STRIKES > GOLD HOLDS GAINS AS EQUITIES DIP, BUT INVESTORS CAUTIOUS > LONDON COPPER MIRED NEAR 3-MONTH LOWS WITH SUPPLY SET TO GROW > BRENT SLIPS FURTHER AWAY FROM $97 AS AMPLE SUPPLY WEIGHS (Reporting By Francesco Canepa, editing by Tricia Wright)
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