European Factors to Watch-Shares seen falling at open; focus on PMIs
LONDON, Dec 1(Reuters) - Financial spreadbetters expected Britain's FTSE 100 to open 23 to 33 points lower, or as much as 0.5 percent, Germany's DAX to open 50 to 56 points lower, or as much as 0.6 percent, and France's CAC 40 to open 20 to 25 points lower, or as much as 0.6 percent. * ECB Executive Board member Sabine Lautenschlaeger said on Saturday she saw little room for further easing of monetary policy despite a further fall in euro zone inflation. * The National Retail Federation estimated on Sunday that retail sales over the full Thanksgiving weekend will show a decline of 11.3 percent from a year earlier, to $50.9 billion. * Growth in China's manufacturing sector slowed in November, suggesting the world's second-largest economy is still losing momentum and adding pressure on authorities to ramp up stimulus measures after unexpectedly cutting interest rates last month. * Swiss voters overwhelmingly rejected proposals on Sunday to boost gold reserves and impose strict new curbs on immigration, averting a potential nightmare for policymakers struggling with a popular backlash against the country's open borders. COMPANY NEWS ALTICE Telecoms group Altice SA has agreed to buy the Portuguese operations of Brazil's Grupo Oi for about 7.4 billion euro ($9.2 billion), it said in a statement on Sunday. E.ON Germany's biggest utility announced plans on Sunday to split in two and spin off most of its power generation, energy trading and upstream businesses, responding to a crisis that has crippled the European energy sector. TELEFONICA Spanish telecoms company Telefonica is readying 2.7 bln euros for a possible purchase of KPN's 20 pct stake in Telefonica Deutschland, El Economista reported on Saturday, without citing sources. REE Power grid operator REE plans to invest 4.5 billion euros between 2015 to 2019 and concentrate on international diversification, the company's chairman Jose Folgado said in an interview in Expansion. ENEL Italy suggested on Sunday it was unlikely to sell a stake in state utility firm Enel by the end of the year as planned, citing poor market conditions, but instead hinted it could step in to buy troubled steel maker Ilva. Edison is readying to open negotiations for the purchase of all of E.ON's assets in Italy, La Repubblica daily said on Saturday. CLUB MEDITERRANEE Chinese conglomerate Fosun, controlled by billionaire Guo Guangchang, is set to raise its bid for holiday company Club Mediterranee on Monday to trump Italian tycoon Andrea Bonomi, a source familiar with the process said. DEUTSCHE ANNINGTON, GAGFAH German real estate firm Deutsche Annington announced plans on Monday to take over rival Gagfah for shares and cash, in a deal valuing the group at 3.9 billion euros ($4.9 billion). HSBC Two directors of HSBC's HSBA.L British business have expressed concerns about new rules that can result in jail sentences for senior bankers, but only one has resigned, and that was mainly due to extra demands on his time, the bank said. GERMAN BANKS German market watchdog Bafin has found isolated cases of possible criminal activity in an ongoing investigation into banks' practices in foreign exchange trading, the head of banking supervision was quoted as saying by a German magazine. Separately, the chief executive of Commerzbank is predicting a wave of mergers among Germany's cooperative and savings banks, he said at a conference in Berlin on the weekend. LUFTHANSA Lufthansa has cancelled nearly half of flights scheduled for Monday and Tuesday due to a strike by pilots. Separately, German rail operator Deutsche Bahn is set to launch another suit against airlines for operating a price-fixing cartel affecting its freight business from 1999-2006, the Wirtschafts Woche weekly reported on Sunday. AIR BERLIN German Chancellor Angela Merkel is backing loss-making Air Berlin AB1.DE in a dispute over whether its Abu Dhabi-based partner Etihad is exercising too much control, Focus magazine reported on Saturday. ATLANTIA Sintonia, the holding that controls the motorway group and is itself majority-owned by the Benetton family, could be broken up, Sole 24 Ore daily said on Sunday. FRESENIUS The healthcare group is considering pulling out of the bidding for French food group Danone's medical nutrition unit because of frustration with the slow progress of the process, two sources familiar with the situation said. NESTLE Singapore's High Court has ruled in favour of a local food- maker that Nestle SA said infringed its intellectual property rights over a chocolate wafer product, a Singapore newspaper reported on Saturday, citing the judgment. VOLKSWAGEN Volkswagen's sports car maker Porsche expects to increase staff from more than 22,000 at the end of 2014 to 25,000 by 2020 and hopes to improve productivity in 2015 by another 6 percent, deputy boss Thomas Edig tells the Automobilwoche trade weekly. GLAXOSMITHKLINE GlaxoSmithKline will this week inform U.S. staff of hundreds of job cuts in its biggest market as the drugmaker starts implementing a major cost-saving programme, sources familiar with the matter said on Sunday. DAIMLER The auto maker plans to spend 12-14 billion euros ($15-17.5 billion) on developing electric vehicles in the next three to four years, Dieter Zetsche tells the Welt am Sonntag newspaper in an interview. INSURERS Some European insurers could have trouble meeting financial obligations to policy holders in the coming years if rock bottom interest rates persist, the EU's insurance watchdog EIOPA warned on Sunday. MAJOR EUROPEAN COMPANIES REPORTING : Aberdeen Asset Management PLC Full Year 2014 MAJOR MACROECONOMIC DATA/EVENTS (GMT) : 0830 CH Manufacturing PMI Nov 0845 IT Manufacturing PMI Nov 0850 FR Manufacturing PMI Nov 0855 DE Manufacturing PMI Nov 0900 EZ Manufacturing PMI Nov 0900 IT GDP Q3 0930 GB BoE Consumer Credit Oct 1500 US ISM Manufacturing PMI > GOLD TUMBLES AFTER SWISS REFERENDUM, OIL HITS 5-YR LOW > WALL ST UP FOR 6TH STRAIGHT WEEK DESPITE OIL ROUT > NIKKEI RISES TO FRESH 7-YEAR HIGH ON STRONG CAPEX DATA > U.S. YIELDS DIP ON DISINFLATION SIGNS > DOLLAR HITS PEAK VS YEN, SWISS FRANC DIPS AS VOTERS REJECT GOLD PLAN > GOLD TUMBLES AFTER SWISS REFERENDUM > LONDON COPPER SLIDES TO WEAKEST SINCE JUNE 2010, RAGGED DOWN BY OIL > OIL HITS 5-YEAR LOWS IN LONGEST LOSING STREAK SINCE 2008 CRISIS (Reporting By Francesco Canepa)
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