European Factors to Watch-Rebound eyed; focus on U.S. jobs data

viernes 3 de octubre de 2014 02:32 GYT
 

(Rewrites throughout, adds futures)
    LONDON, Oct 3 (Reuters) - European equity indexes were set to bounce from
"oversold" territory on Friday after their steepest falls in several months,
with investors set to look at U.S. jobs data for indications about the strength
of the world's largest economy and the likely path of the Federal Reserve's
monetary policy.
    Futures for the Euro STOXX 50, France's CAC 40 and
Britain's FTSE 100 were up between 0.6 percent and 0.7 percent at 0628
GMT. The German stock market was shut due to a national holiday.
    Britain's FTSE 100 closed at its lowest level for the year on
Thursday and was at its most "oversold" since 2011 based on its 7-day Relative
Strength Index, a momentum indicator which compares the magnitude of recent
gains to recent losses. 
    The CAC and Euro STOXX 50 were also "oversold" based on
that metric.
    The strength of any rebound was likely to depend on U.S. nonfarm payrolls
data due at 1230 GMT.
    Investors were weighing the prospect of stronger corporate profits if the
U.S. economy picks up the pace against the threat of any early rise in U.S.
interest rates at a time when many European and emerging market economies show
signs of fragility.
    Analysts polled by Reuters expect U.S. employers to have hired 215,000
workers in September, up from a disappointing 142,000 in August.
    Among single stocks, British low-cost airline easyJet was set to be
in focus after it lifted its annual profit forecast, saying it had benefited
from lower than expected fuel costs, favourable exchange rate moves and a
two-week strike at rival airline Air France-KLM. 
    
    COMPANY NEWS
    
    ROCHE 
    Another new cancer drug from Roche, this time for treating
leukaemia, has been rejected by Britain's healthcare cost-effectiveness agency
NICE on the grounds that data about its value is uncertain. 
    
    VOLKSBANKEN AG 
    Austria's part-nationalised lender Volksbanken AG (VBAG) is to be wound down
to avoid a looming capital crunch it was struggling to plug, it said on
Thursday. 
    
    BMW  
    BMW's board will meet in a fortnight to assess its forecasts for next year,
Chief Executive Norbert Reithofer said on Thursday, adding that the carmaker was
sticking to its outlook for an increase in global sales this year.
 
    
    ILIAD SA 
    French low-cost telecom operator Iliad is gearing up to bid for a
"significantly larger" stake in T-Mobile US Inc than it previously sought for in
July, a Bloomberg report said, citing people familiar with the matter.
 
    
    BILFINGER 
    Activist investor Cevian named Eckhard Cordes, a former executive at
carmaker Daimler and retailer Metro, as its second representative on the
supervisory board of German construction group Bilfinger, in which it
is the top shareholder. 
    
    SPORTS DIRECT, DEBENHAMS 
    Britain's biggest sporting goods chain Sports Direct said it had acquired a
further 4.6 percent stake in Debenhams, the country's second-biggest department
store company, in a deal which strengthens ties between the retailers.
 
    
    DAIMLER AG 
    The United Auto Workers and two German labor groups on Friday will announce
plans to work together to organize Daimler AG's Mercedes-Benz plant workers in
Alabama, sources close to one of the German labor groups said on Thursday.
 
    
     FIAT 
    The carmaker has no need for a capital increase to fund its ambitious
five-year growth plan, Chief Executive Sergio Marchionne said on Thursday.
 
     The next-generation Jeep Wrangler may be built from aluminium rather than
steel in a move that would shift its production away from the Toledo plant in
the U.S. state of Ohio, the head of parent Fiat Chrysler Automobiles (FCA) said
on Thursday. 
    
    BP PLC 
    BP Plc on Thursday asked a U.S. court to reconsider a September ruling that
found the company "grossly negligent" for the 2010 oil spill in the Gulf of
Mexico, a finding that boosted its potential liabilities by about $18 billion.
 
    
    AIRBUS GROUP 
    A long-awaited French corporate trial involving allegations of insider
trading in the shares of Airbus Group gets under way on Friday, marking the
climax of an eight-year investigation. 
    
    UNICREDIT 
    UniCredit Bank Austria has sold its 16-percent stake in Austrian property
firm CA Immobilien to a private holding company based in Cyprus, in a 295
million-euro deal, CA Immobilien said on Thursday. 
    
    GENERALI 
    Paolo Scaroni, the former CEO of Italian oil major Eni, has resigned as
independent board member of Italy's biggest insurance group Assicurazioni
Generali, the insurer said on Thursday. 
    Allianz appointed long time Generali executive Sergio Balbinot to the board
for a four year term starting on Jan 1, 2015. Balbinot will be in charge of
Allianz's insurance business in France, Benelux, Italy, Greece and Turkey.
 
    
    ENEL 
    Chinese companies are interested in buying the Romanian and Slovakian power
assets that Enel is looking to sell to cut its debt, the utility's CEO said on
Thursday. 
    
    ROYAL BANK OF SCOTLAND 
    RBS has hired Goldman Sachs to seek buyers for Coutts International and is
expected to tell potential suitors that they will not be allowed to use the
Coutts brand, the Financial Times reported. 
    
    MAJOR EUROPEAN COMPANIES REPORTING :
    EASYJET PLC                          TRADING       
    INTERNATIONAL CONSOLIDATED AIRLINES  TRAFFIC       
    
    MAJOR MACROECONOMIC DATA/EVENTS (GMT)  :
    0745 IT Markit/ADACI Sv Sep
    0750 FR Markit Serv PMI Sep
    0755 DE Markit Services Sep
    0800 EZ Markit Services Sep
    0830 GB Markit/CIPS Ser Sep
    0900 EZ Retail Sales MM Aug
    1230 US Non-Farm Payrol Sep
    1230 US Unemployment Ra Sep
    1400 US ISM N-Mfg PMI   Sep
    
------------------------------------------------------------------------------
  MARKET SNAPSHOT AT 0539 GMT: 
    
                                                 LAST      PCT CHG      NET CHG
 S&P 500                                     1,946.17          0 %         0.01
 NIKKEI                                      15655.34      -0.04 %        -6.65
 MSCI ASIA EX-JP                               471.96       0.34 %         1.58
 EUR/USD                                       1.2651      -0.13 %      -0.0017
 USD/JPY                                       108.88       0.43 %       0.4700
 10-YR US TSY YLD                               2.438           --         0.00
 10-YR BUND YLD                                 0.909           --        -0.01
 SPOT GOLD                                  $1,211.20      -0.17 %       -$2.10
 US CRUDE                                      $91.53       0.57 %         0.52
 

  
  > ASIAN STOCKS KEPT IN CHECK BY HK UNREST, US JOBS NEXT TEST     
  > WALL ST ENDS FLAT, SMALL CAPS REBOUND IN VOLATILE DAY                [ .N]
  > NIKKEI FALLS AFTER EUROPEAN SHARES TUMBLE, CHINA PMI HURTS SENTIMENT  
  > TREASURIES-YIELDS RISE AHEAD OF FRIDAY U.S. JOBS DATA               
  > DOLLAR REBOUNDS VS YEN, U.S. NONFARM PAYROLLS AWAITED               
  > GOLD HEADS FOR 4TH WEEKLY LOSS IN FIVE; PLATINUM HITS 5-YEAR LOW    
  > COPPER EASES AWAY FROM 5-MTH LOW, BUT OUTLOOK DARKENS              
  > BRENT BOUNCES OFF 27-MTH LOW TOWARDS $94, BUT STILL EYES WEEKLY LOSS 
    

 (Reporting By Francesco Canepa, editing by Tricia Wright)