European Factors to Watch-Shares seen opening lower ahead of ECB
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. ------------------------------------------------------------------------------ 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 > ASIAN SHARES SLIP AS CHINA CONCERNS TRUMP U.S. OPTIMISM > U.S. STOCKS-DOW, S&P 500 CLOSE AT RECORDS AFTER MIDTERM VOTE > NIKKEI SKIDS AS INVESTORS BOOK GAINS; SUNTORY SHINES > TREASURIES-U.S. YIELDS EDGE UP ON ADP JOBS DATA, STOCK GAINS > DOLLAR STUMBLES AFTER KICKING HIGHER, EURO COWERS AS ECB LOOMS > GOLD, SILVER NEAR 4-1/2 YEAR LOWS AS DOLLAR STRENGTH BITES > GOLD, SILVER NEAR 4-1/2 YEAR LOWS AS DOLLAR STRENGTH BITES > BRENT GAINS AFTER US CRUDE STOCKS DATA, TRADES ABOVE $83 (Reporting by Sudip Kar-Gupta; Editing by Alistair Smout)
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