European Factors to Watch-Weak results set up Europe for weaker start

jueves 23 de octubre de 2014 02:39 GYT
 

(Adds further company news)
    LONDON, Oct 23 (Reuters) - European stocks were seen falling on Thursday as
weak results from French tyre-maker Michelin and consumer goods group
Unilever  added to a subdued tone for global equities
overnight.    
    Futures for the Euro STOXX 50 equity index, Germany's DAX,
France's CAC and Britain's FTSE 100 were down between 0.5
percent and 0.7 percent at 0619 GMT.
    Michelin was set to be in the spotlight as it cut its full-year sales goal
and said it would rein in investment after third-quarter sales fell 4.6 percent,
weighed down by an emerging-market slump and weaker European truck tyre demand.
 
    Unilever reported a weaker-than-expected 2.1 percent rise in third-quarter
sales on Thursday as a slowdown in emerging markets continued to crimp
performance. 
    European indexes were set to mirror a late selloff on Wall Street, where
Boeing and Biogen sold off after results and energy stocks fell along with oil
prices, and falls in Asian shares after mixed Chinese data.  
    Caution prevailed in Europe, too, ahead of French business climate data at
0645 GMT, followed by a raft of business activity surveys from the euro zone's
largest economies between 0700 GMT and 0800 GMT.    
    The Euro STOXX 50 index had risen 0.6 percent on Wednesday,
extending its bounce from a 13-month low hit last week.
    Merger & acquisition activity was once again in focus.
    Private equity firms are circling Bayer's 10 billion-euro ($12.7 billion)
plastics business, hoping to divert the German drugmaker from its plan to list
the division, two people familiar with the matter said on Wednesday.
 
    A consortium of buyout firms Advent International Corp and Avista Capital
Partners is in advanced talks to acquire UCB SA's U.S. generic drugs
unit Kremers Urban Pharmaceuticals Inc, according to people familiar with the
matter. 
    
    Europe bourses in 2014: (link.reuters.com/pad95v)
    Asset performance in 2014: (link.reuters.com/rav46v)
  
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  MARKET SNAPSHOT AT 0447 GMT:
    
                                                  LAST   PCT CHG    NET CHG
 S&P 500                                      1,927.11   -0.73 %     -14.17
 NIKKEI                                       15112.72   -0.55 %     -83.05
 MSCI ASIA EX-JP                                472.21   -0.38 %      -1.82
 EUR/USD                                        1.2637   -0.09 %    -0.0011
 USD/JPY                                        107.23    0.08 %     0.0900
 10-YR US TSY YLD                                2.211        --      -0.02
 10-YR BUND YLD                                  0.863        --       0.00
 SPOT GOLD                                   $1,242.44    0.15 %      $1.89
 US CRUDE                                       $80.43   -0.11 %      -0.09
 
  
  > ASIA STOCKS HOBBLED BY GROWTH WOES, CHINA PMI FAILS TO IMPRESS 
  > WALL ST ENDS LOWER AFTER SHOOTING AT CANADIAN PARLIAMENT       
  > NIKKEI SLIPS AFTER OIL PRICES DROP, WALL STREET SHARES FALL    
  > U.S. BOND PRICES FALL AS CONSUMER PRICES SHOW PULSE            
  > DOLLAR HOLDS STEADY, SUPPORTED BY TREASURY YIELDS,SAGGING EURO 
  > GOLD STEADIES ABOVE $1,240 AS ASIAN EQUITIES SLIDE             
  > LONDON COPPER EDGES UP AFTER CHINA FACTORY DATA                
  > BRENT SLIPS TOWARDS $84 ON SHARP RISE IN U.S. CRUDE STOCKS     
    
    COMPANY NEWS:     
    NOKIA 
    Nokia on Thursday beat market expectations as it reported strong
third-quarter profit growth and lifted the profitability outlook for its core
network unit on the back of network roll-outs in North America and China.
 
    
    UNILEVER  
    Unilever reported a weaker-than-expected 2.1 percent rise in third-quarter
sales on Thursday as a slowdown in emerging markets continued to crimp
performance. 
    
    REED ELSEVIER   
    Anglo Dutch Reed Elsevier said a 4 percent rise in underlying revenue in the
first nine months kept it on track to meet its goal of growing revenue and
profit this year. 
    
    TESCO 
    Britain's biggest grocer reported a larger than expected hole in its
accounts on Thursday, forcing it to scrap its full-year trading profit outlook.
 
    
    CREDIT SUISSE 
    The Swiss bank was cautiously optimistic for the year-end, as it posted
third-quarter profit that beat expectations on Thursday. 
    
    LLOYDS BANKING GROUP 
    Lloyds Banking Group will next week announce plans to cut 9,000 jobs over
the next three years, sources familiar with the matter told Reuters on
Wednesday. 
    
    MICHELIN 
    French tyremaker Michelin cut its full-year sales goal and said it would
rein in investment after third-quarter sales fell 4.6 percent, weighed down by
an emerging-market slump and weaker European truck tyre demand. 
    
    DAIMLER  
    Daimler's third quarter operating profit rose 67 percent, in part helped by
launches of new models like the best-selling C-Class, which helped the maker of
Mercedes-Benz cars buck a trend of slowing demand for passenger cars.
 
    
    PERNOD RICARD 
    French spirits group Pernod Ricard posted a 2 percent rise in first-quarter
underlying sales on Thursday, beating market expectations, as demand slightly
improved in Asia. 
    
    NESTE OIL  
    Finland's Neste Oil raised on Thursday it's full year comparable operating
profit to above 400 million euros from below after reporting better than
expected third quarter results.
    
    ASSA ABLOY 
    The world's biggest lock maker posted on Thursday a third-quarter operating
profit marginally above expectations and like-for-like sales growth in line with
forecasts. 
    
    SAFRAN 
    The aerospace and defence contractor reported third-quarter revenue up 6.8
percent and reaffirmed its profitability target for the year, while expressing
concerns over "significant uncertainty" in the pace of revenue payments from
governments. 
    
    GEMALTO 
    Franco-Dutch technology firm Gemalto said its third-quarter revenue rose 6
percent on a constant currency basis, helped by strong sales of chip-enabled
credit cards. 
    
    E.ON 
    German utility E.ON and gas firm VNG AG have sold their jointly
owned regional gas grid EVG Thueringen to First State Investments, the asset
management arm of Commonwealth Bank of Australia (CBA), E.ON said.
 
    
    BAYER 
    Private equity firms are circling Bayer's 10 billion-euro ($12.7 billion)
plastics business, hoping to divert the German drugmaker from its plan to list
the division, two people familiar with the matter said on Wednesday.
 
    
    ORANGE SA 
    France's largest telecom operator, posted quarterly results largely in line
with expectations but relied on steeper cost-cutting to stabilise profit
margins, even as it reported rising subscriptions to its faster 4G mobile
services. 
    
    DEUTSCHE TELEKOM 
    France's Orange said the best option for its EE joint venture with Deutsche
Telekom was to keep the current capital structure at this stage. 
    
    TELE2 
    Swedish telecom operator Tele2 said it was confident it would reach the
upper end of its 2014 forecasts after posting third-quarter core earnings and
sales well above expectations, boosted by higher use of mobile data services.
 
    
    DNB 
    Norway's largest bank reported third-quarter earnings well ahead of
expectations on Thursday and said its loan losses would be below last year's
level. 
    
    UCB SA 
    A consortium of buyout firms Advent International Corp and Avista Capital
Partners is in advanced talks to acquire UCB SA's U.S. generic drugs unit
Kremers Urban Pharmaceuticals Inc, according to people familiar with the matter.
 
    
    FRESENIUS MEDICAL CARE 
    Fresenius Medical Care has agreed to buy National Cardiovascular Partners
(NCP) to expand the range of services it offers linked to its core business of
kidney dialysis. 
    
    LUXOTTICA 
    The world's largest eyewear group named a senior Procter & Gamble 
manager as its new co-chief executive on Wednesday seeking to solve a governance
crisis after losing two chief executives in the span of six weeks.
 
    
    REE 
    Spanish electricity grid operator Red Electrica said late on Wednesday that
it would receive a compensation payment of around $35 million from the Bolivian
government for the expropriation of its local unit in 2012. 
    
    INDITEX 
    Spanish clothing company and owner of the Zara brand, Inditex, has named
Maria Fanjul, 31, as head of its fast growing online business, Expansion said.
    
    ACS 
    ACS is postponing the listing of its renewables assets until at least the
beginning of next year, El Confidencial says, citing financial sources.
    
    TELEKOM AUSTRIA 
    America Movil unit Telekom Austria boosted third-quarter
underlying operating profit by nearly 16 percent on slightly higher sales, it
said on Thursday, keeping its full-year outlook. 
    
    NESTLE 
    Nestle has no plans to close any of its eight factories or curb output in
cocoa and coffee-rich West and Central Africa because of Ebola, but is ready to
adapt if it spreads, the Chief Executive of the world's largest food company
said on Wednesday. 

 (Reporting by Francesco Canepa; Editing by Sudip Kar-Gupta)