European Factors to Watch-Shares seen opening lower ahead of ECB

jueves 6 de noviembre de 2014 02:33 GYT
 

LONDON, Nov 6 (Reuters) - European stocks were expected to open lower on
Thursday, with many traders focusing on the European Central Bank's (ECB) policy
meeting later in the day.
    Financial spreadbetters expected Britain's FTSE 100 to open down by
17-18 points, or 0.3 percent lower. They also saw Germany's DAX opening
down by 15-28 points, or 0.2-0.3 percent lower, and for France's CAC 40 
to open down by 3-9 points, which would mark a fall of as much as 0.2 percent. 
    The ECB is set to stick to the policy path laid out over the summer when it
meets on Thursday, waiting for its stimulus to unfold before considering further
steps, and keeping interest rates at record lows. 
    More drastic measures in the form of outright purchases of sovereign bonds -
as deployed by other major central banks to boost their economies - still remain
distant in the euro zone, mainly due to political hurdles, especially in
Germany.
    The November policy meeting also takes place against a backdrop of meager
growth prospects for the euro zone and mounting discomfort among Governing
Council members over ECB President Mario Draghi's leadership style.
    "It's been a commendable effort from the European bulls given the
disappointing economic data of late but it's clear that to replicate the kind of
optimism seen in the U.S, the ECB is going to have to lend a hand," said Capital
Spreads dealer Jonathan Sudaria.
    
    Europe bourses in 2014: (link.reuters.com/pad95v)
    Asset performance in 2014: (link.reuters.com/rav46v)
        
    COMPANY NEWS:
    ADECCO :
    Adecco, the world's biggest staffing firm by sales, said revenue growth
slowed in the third quarter, hurt by weaker-than-expected growth in France and
Germany. 
    
    COMMERZBANK :
    Commerzbank's third-quarter net profit tripled to 225 million euros as
earnings in its corporate and retail banking units rose and due to a steep fall
off in bad loans. 
    
    CREDIT AGRICOLE :
    French lender Credit Agricole posted a 4 percent increase in quarterly
earnings on Thursday as a strong insurance and asset management performance
outweighed weakness in its home retail market. 
    
    DEUTSCHE TELEKOM :
    Deutsche Telekom DTEGn.DE reported a 1.8 percent drop in quarterly core
profit as investments in Germany and the United States weighed amid slightly
higher sales. 
    
    HEIDELBERGCEMENT :
    German cement maker HeidelbergCement posted a better than expected 10
percent rise in core profit as it pushed through price increases in North
America, Britain and Indonesia. 
    
    HERMES :
    French luxury goods company Hermes on Thursday posted an 11 percent rise in
like-for-like third-quarter sales, driven by robust demand for its leather goods
and ready-to-wear. 
    
    SIEMENS :
    German engineering group Siemens missed expectations for fourth-quarter core
profit, hurt by charges for faulty wind turbines that pushed its wind power
division to a loss. 
    
    SOCIETE GENERALE :
    Societe Generale, France's second-biggest listed bank, posted a 57 percent
rise in the third-quarter net profit as a drop in loan-loss provisions helped
offset revenue weakness in French retail banking and equities trading.
 
    
    ZURICH INSURANCE :
    Zurich Insurance Group posted a bigger-than-expected 16 percent fall in
third-quarter net profit on Thursday, as the company released less money set
aside to pay off claims.   
    
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 MARKET SNAPSHOT AT 0628 GMT                        
                                   LAST    PCT CHG          NET CHG
 S&P 500                       2,023.57     0.57 %            11.47
 NIKKEI                        16,792.4    -0.86 %          -144.84
                                      8             
                                                                   
 EUR/USD                         1.2526     0.33 %           0.0041
 USD/JPY                         114.42    -0.18 %          -0.2100
 10-YR US TSY                     2.332         --            -0.02
 YLD                                                
 10-YR BUND YLD                   0.820         --            -0.01
 SPOT GOLD                     $1,145.4      0.4 %            $4.53
                                      9             
 US CRUDE                        $78.79     0.14 %             0.11
 
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 (Reporting by Sudip Kar-Gupta; Editing by Alistair Smout)