European Factors to Watch-Shares set to edge up; France in focus after GDP beat

viernes 14 de noviembre de 2014 03:26 GYT
 

(Rewrites throughout; adds futures, further company news)
    LONDON, Nov 14 (Reuters) - European shares were indicated to edge higher at
the open on Friday, with French stocks in focus after a slightly
better-than-expected economic output reading for the euro zone's second-largest
economy and a guidance hike at conglomerate Bouygues.
    At 0721, futures for France's CAC equity index were 0.4 percent
higher, with contracts on the euro zone Euro STOXX 50, Germany's DAX
 and Britain's FTSE 100 up 0.1-0.3 percent.
    The French economy eked out 0.3 percent growth in the third quarter, lifted
by public spending and consumer shopping as well as stock variations, while
investment and real estate kept contracting and weighing on the euro zone's
second-largest economy. 
    Investors were set to focus on euro zone inflation figures for October, due
at 1000 GMT and expected to show a 0.4 percent increase year on year.
    French conglomerate Bouygues raised its full-year sales forecast on Friday
after it posted better-than-expected sales in the third quarter despite a weaker
construction market and a price war in telecoms in France. 
    Paris-listed Airbus Group reported a stronger-than-expected
nine-month underlying operating profit, led by its planemaking and helicopter
divisions, but warned of a possible accounting from production delays in its
A400M military airlifter. 
    
    COMPANY NEWS
    
    GLAXOSMITHKLINE 
    Apollo Global Management is planning to bid for all
GlaxoSmithKline's mature drugs, joining an auction expected to value the
business at more than $3 billion, according to four people familiar with the
process. 
    
    AIRBUS GROUP 
    Europe's largest aerospace group reported a 12 percent rise in nine-month
underlying operating profit led by its planemaking and helicopter divisions, and
reaffirmed its profit forecasts for the year. In the third quarter, Airbus Group
posted operating profit of 744 million euros, up 14 percent, and flat sales.
 
    
    GLENCORE PLC 
    The world's largest exporter of thermal coal plans to shut its Australian
mines for three weeks to help attack a crippling global supply glut that has
pushed prices to 5-1/2 year lows. 
    
    BOUYGUES  
    French conglomerate Bouygues raised its full-year sales forecast on Friday
after it posted better-than-expected sales in the third quarter despite a weaker
construction market and a price war in telecoms in France. 
    
    JULIUS BAER 
    Julius Baer said on Friday overall client assets rose 12 percent in the
first ten months of the year over last year, helped by fresh client money, a
strong US dollar, and the acquisition of Brazilian wealth manager GPS earlier
this year. 
    
    LLOYDS BANKING GROUP 
    The bank is shedding 1,250 jobs as it cuts costs and changes the way it
sells insurance products in its branches, the Guardian reported.
    
    ROYAL BANK OF SCOTLAND 
    Royal Bank of Scotland securities unit will now exit its U.S. mortgage
trading business after originally planning to shrink it by two-thirds.
 
    
    BRITISH AMERICAN TOBACCO 
    The company has been fined by HM Revenue & Customs for oversupplying
cigarettes into Belgium which can be smuggled back into the UK, the Times
reported.
    
    BT 
    The company is planning to scrap its Wholesale unit and fold the
multi-billion-pound business into Openreach, the monopoly division that controls
Britain's national telecoms infrastructure, the Telegraph reported.
    
    CLUB MED 
    Chinese conglomerate Fosun has until Dec. 1 to come up with a
fresh counterbid for Club Mediterranee after regulators extended the
deadline in the long-running battle for the French holiday group.
 
    
    LAGARDERE 
    Hachette Book Group, a unit of France's Lagardere, and Amazon.com Inc
 said they reached a multi-year agreement for e-book and print book
sales after months of fighting that pitted authors, agents and publishers
against the world's largest online retail store. Lagardere also confirmed its
full-year profit target. 
    
    BP 
    A U.S. judge weighing how much BP Plc should be punished for the 2010 Gulf
of Mexico oil spill on Thursday refused to overturn his own finding that the oil
company's conduct was "grossly negligent." 
    
    BAE SYSTEMS 
    The U.S. unit of Britain's BAE Systems on Thursday filed suit in a U.S.
federal court to block South Korea's demand that the company pay $43.26 million
to Seoul for costs incurred in a now-canceled program to upgrade F-16 fighter
jets. 
    
    RWE 
    The utility is mulling to cut its dividend by a fifth to 80 euro cents ($1)
a share in the medium term, German daily Rheinische Post reported, citing
supervisory board sources. 
    
    ENEL 
    The funds that Italian utility Enel will raise from selling shares of its
Spanish subsidiary, Endesa ELE.MC, will mostly go to paying off debt, with some
also earmarked for its Latin American operations, Enel's chief executive said on
Thursday. 
    
    SAP 
    Oracle Corp and SAP have settled long-running copyright litigation
for $356.7 million over improper downloads of Oracle files, ending a fierce
legal battle between the two enterprise software rivals. 
    
    SAAB 
    The Swedish defense firm last week submitted a bid to build new submarines
for Australia, business daily Dagens Industri quoted Gunilla Fransson, head of
Business Area Security and Defence Solutions at Saab, as saying. 
        
    MAJOR MACROECONOMIC DATA/EVENTS (GMT)  :
    0900 IT GDP Preliminary Q3
    0930 GB Construction Sep
    1000 EZ GDP Flash Estimate Q3
    1000 EZ Inflation Oct
    
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  MARKET SNAPSHOT AT 0624 GMT: 
    
                                                   LAST      PCT CHG  NET CHG
 S&P 500                                       2,039.33       0.05 %     1.08
 NIKKEI                                        17490.83       0.56 %    98.04
 MSCI ASIA EX-JP                                 479.15      -0.34 %    -1.62
 EUR/USD                                         1.2429      -0.37 %  -0.0046
 USD/JPY                                         116.25       0.45 %   0.5200
 10-YR US TSY YLD                                 2.352           --     0.01
 10-YR BUND YLD                                   0.797           --     0.00
 SPOT GOLD                                    $1,154.30      -0.63 %   -$7.28
 US CRUDE                                        $73.93      -0.38 %    -0.28
  > ASIA SLIPS IN WAKE OF SOFT DATA, OIL STUCK NEAR LOWS         
  > DOW AT RECORD BUT S&P FLAT AS ENERGY WEIGHS                         
  > NIKKEI PULLS BACK FROM 7-YEAR HIGH ON PROFIT-TAKING BEFORE GDP DATA 
  > BOND PRICES EDGE HIGHER AFTER NEW SUPPLY, RETAIL SALES EYED       
  > DOLLAR REFRESHES 7-YR HIGH VS YEN, JAPAN POLITICS IN SPOTLIGHT    
  > GOLD SET FOR THIRD WEEKLY DROP IN FOUR ON DOLLAR STRENGTH         
  > LME COPPER SET FOR BIGGEST WEEKLY DROP SINCE SEPTEMBER           
  > BRENT EDGES ABOVE $78, STILL NEAR FOUR-YEAR LOW ON GLUT            

 (Reporting By Francesco Canepa; Editing by Atul Prakash)