CORRECTED-Europe Factors to Watch-Shares set to dip ahead of manufacturing data

miércoles 1 de octubre de 2014 10:14 GYT
 

(Corrects incorrect market snapshot prices published earlier due to automation
error)
    PARIS, Oct 1 (Reuters) - European stocks were set to fall on Wednesday,
starting the fourth quarter in negative territory ahead of a batch of euro zone
data expected to show relatively weak manufacturing activity.
    Shares in UK retailers will be in the spotlight again after J Sainsbury cut
its full-year sales forecast as trading fell sharply in the second quarter, hurt
by competition in Britain's grocery market which is growing at its slowest pace
for more than 20 years. 
    UK market leader Tesco, meanwhile, said Britain's financial
watchdog had started a full investigation into the company in the wake of an
accounting scandal which wiped 3 billion pounds ($4.86 billion) from the
company's stock market value last month. 
    At 0620 GMT, futures for Euro STOXX 50, for UK's FTSE 100,
for Germany's DAX and for France's CAC were down 0.3-0.5
percent.
    Investors were also concerned about unrest in Hong Kong, where thousands of
pro-democracy protesters thronged the streets on Wednesday, some of them jeering
National Day celebrations, with demonstrations spreading to a new area of the
city.
    There was little sign of momentum flagging on the fifth day of the mass
campaign, whose aim has been to occupy sections of the city and express fury at
a Chinese decision to limit voters' choices in a 2017 leadership election.
 
    U.S. stocks slipped on Tuesday after U.S. consumer confidence fell in
September for the first time in five months and home prices in July rose less
than expected from a year earlier, underscoring the unsteady nature of U.S.
growth. 
    
    Europe bourses in 2014: (link.reuters.com/pad95v)
    Asset performance in 2014: (link.reuters.com/rav46v)
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  MARKET SNAPSHOT AT 0630 GMT: 
                                         LAST   PCT CHG  NET CHG
 S&P 500                             1,972.29   -0.28 %     5.51
 NIKKEI                              16082.25   -0.56 %   -91.27
 MSCI ASIA EX-JP                       471.66   -0.27 %    -1.26
 EUR/USD                               1.2620   -0.09 %  -0.0011
 USD/JPY                                109.8    0.15 %     0.16
 10-YR US TSY YLD                      2.5054        --  -0.0057
 10-YR BUND YLD                         0.945        --   -0.001
 SPOT GOLD                          $1,206.80   -0.16 %   -$1.94
 US CRUDE                              $91.54    0.42 %    $0.38
 
  > GLOBAL MARKETS-ASIAN SHARES SLIP, DOLLAR UP; HK UNREST EYED 
  > US STOCKS-WALL ST ENDS DOWN FOR DAY, MONTH; INDEXES GAIN IN QTR 
  > NIKKEI LITTLE CHANGED AFTER MIXED TANKAN DATA 
  > TREASURIES-U.S. TREASURIES PRICES FALL; JOBS REPORT IN FOCUS 
  > FOREX-DOLLAR SCALES 6-YR PEAK VS YEN, AUSSIE FALTERS ON WEAK DATA 
  > GOLD STRUGGLES NEAR 9-MONTH LOW; PLATINUM HITS 5-YEAR TROUGH 
  > COPPER SLIPS TO WEAKEST SINCE JUNE ON DOLLAR, CHINA HOUSING WORRIES 
  > BRENT RISES ABOVE $95 AFTER CHINA PMI, BUT GLUT CAPS GAINS 
    
    COMPANY NEWS:
    
    J SAINSBURY 
    Britain's J Sainsbury cut its full-year sales forecast on Wednesday after
trading fell sharply in the second quarter, dragged down by competition in a UK
grocery market growing at its slowest pace for more than 20 years. 
        
    TESCO 
    Tesco said Britain's financial watchdog had started a full investigation
into the company in the wake of an accounting scandal which wiped 3 billion
pounds ($4.86 billion) from the British grocer's stock market value last month.
        
    UBS 
    Swiss bank UBS must deposit a 1.1 billion-euro ($1.39 billion) guarantee on
Tuesday to cover potential fines should it be found guilty of helping rich
French customers avoid tax, a source familiar with the court procedure said.
    
    BANCA MONTE DEI PASCHI DI SIENA 
    A shareholder in Italy's No. 3 lender said there was uncertainty over
whether an ongoing health check of European banks would result in further
capital requirements for the Siena-based bank. Monte dei Paschi carried out a 5
billion euro (6.3 billion US dollar) capital increase earlier this year to boost
its chances of passing a Europe-wide stress test of lenders, but has not ruled
out needing further capital once the results of the tests are made
public. 
    
    UNICREDIT 
    The ECB's health check of European banks could force some lenders to rethink
their strategy in central and eastern Europe and even withdraw from parts of the
region, according to the European Bank for Reconstruction and Development's new
regional banking expert. 
    Austrian property group S Immo will submit a binding offer for
UniCredit Bank Austria's 16.4 percent stake in compatriot CA Immobilien
, it said on Tuesday as bidding for the stake heated up.
 
    
    GREEK BANKS 
    Greece has won an important concession from the European Central Bank (ECB)
that could help its top four lenders pass a landmark review of the euro zone's
banking sector, three sources familiar with the process told Reuters.
 
    
    NOVARTIS 
    A federal judge said Novartis AG must face a U.S. government lawsuit
accusing the Swiss drugmaker of paying multimillion-dollar kickbacks, including
a $9,750 dinner for three at a Japanese restaurant, to induce doctors to
prescribe its drugs.
    
    ALLIANZ 
    The insurance group's Pimco subsidiary intends to expand its equities
business and there will be no difference in the firm's portfolio management
since the departure of former chief investment officer Bill Gross, two top Pimco
executives said on Tuesday. 
    Separately, influential pension consultant Mercer Investment Management has
downgraded its ratings on five Pimco funds, possibly triggering another wave of
institutional investor outflows from the bond fund manager. 
        
    AIR FRANCE-KLM 
    Air France-KLM has been weakened by concessions made during this month's
pilots strike on expansion plans at its low-cost arm but hopes to revisit the
same ideas in the future, Chief Executive Alexandre de Juniac said.
  
    
    AIRBUS 
    Chief Executive Fabrice Bregier told French daily Le Figaro the European
planemaker was sticking to a target for its A380 superjumbo to break even next
year. He added that he saw the potential for 10,000 orders for its re-engined
A320neo family of single-aisle aircraft. 
    
    EDF 
    A decision on whether to extend Henri Proglio's mandate as head of the power
company will be taken roughly within the next two weeks, a government source
said. Another source familiar with the procedure said the nominations committee
was due to meet on Oct. 16. 
    
    ORANGE 
    French state-owned fund Bpifrance said it was trimming its stake in the
telecom group by 1.9 percent of the total capital. The 50 million shares will be
priced between 11.60 euros and 11.90 euros each, a source familiar with the
matter said. 
        
    AMADEUS 
A vehicle owned by a pension fund of German airline Lufthansa is placing a 3
percent stake in Spanish travel technology company Amadeus. The shares would be
sold at between 28.8 euros a share and 29.62 euros a share, a source said late
on Tuesday. 
    
    JULIUS BAER 
    Swiss private bank Julius Baer is cooperating in a French investigation into
suspected money laundering and tax fraud by a former client involved in the
European carbon allowances market, a spokeswoman said, following French media
reports. 
    
    LLOYDS   
    Investors are joining forces to sue Britain's biggest retail bank Lloyds and
five former executives, alleging they were misled over an ill-fated deal in 2008
they say wiped about 6 billion pounds ($10 billion) off the total value of
shares.
        
    BANCO DE SABADELL, BANCO POPULAR 
    Portugal has begun sounding out Spanish banks on their interest in buying
Novo Banco, the successor to the state-rescued Banco Espirito Santo (BES),
several sources familiar with the talks said on Tuesday. Spain's mid-sized
Sabadell and Popular, which already have offices and interests in neighbouring
Portugal, were among those approached by the Bank of Portugal, the sources said.
 
    
    ANGLO AMERICAN 
    The miner said on Tuesday that it obtained a Brazilian license to start
operating its long-delayed, $14 billion Minas-Rio iron ore mining project, which
is expected to enable its first shipment of ore by year-end. 
    
    LUFTHANSA 
    Five separate labour strikes by pilots have cost the airline a total
double-digit million euro sum, on top of 60 million euros from a three-day
strike last spring, Lufthansa's personnel chief Bettina Volkens told German
daily Bild.
    
    

 (Reporting by Blaise Robinson; Editing by Francescp Canepa)