Europe Factors to Watch-Shares seen mixed; Nordic telecoms eyed
PARIS, Dec 3 (Reuters) - European stocks were seen mixed on Wednesday, pausing after the previous session's rally, with Nordic telecom operators Telenor and TeliaSonera in focus after agreeing to merge their Danish operations. At 0727 GMT, futures for Euro STOXX 50, for Germany's DAX and for France's CAC were down 0.1 percent to up 0.2 percent. Investors awaited UK and euro zone services PMI data, UK chancellor George Osborne's Autumn statement, as well as U.S. ADP jobs data. Figures released earlier showed that China's services sector grew slightly faster in November, although the data failed to soothe worries about the softening Chinese economy. Shares in oil and gas firms will be in focus again as Brent climbed above $71 a barrel, helped in part by data showing a bigger-than-expected fall in crude stocks supported U.S. oil prices. Miners will be eyed as Chinese steel and iron ore futures dropped on Wednesday amid worries steel demand in the world's top consumer may remain weak as construction activity slows during winter. Europe bourses in 2014: (link.reuters.com/pad95v) Asset performance in 2014: (link.reuters.com/rav46v) ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0730 GMT: LAST PCT CHG NET CHG S&P 500 2,066.55 0.64 % 13.11 NIKKEI 17720.43 0.32 % 57.21 MSCI ASIA EX-JP 470.89 -0.21 % -0.97 EUR/USD 1.2369 -0.1 % -0.0012 USD/JPY 119.29 0.08 % 0.1000 10-YR US TSY YLD 2.303 -- 0.02 10-YR BUND YLD 0.753 -- 0.01 SPOT GOLD $1,200.40 0.15 % $1.84 US CRUDE $67.11 0.34 % 0.23 > GLOBAL MARKETS-ASIAN SHARES DIP, OIL UP AS INVENTORIES DECLINE > ENERGY SHARES LEAD WALL ST HIGHER; TELECOMS SLIP > TOKYO'S NIKKEI SHARE AVERAGE CLOSES UP 0.32 PCT > TREASURIES-PRICES SAG AS WALL ST RALLIES, CORPORATE DEBT DEALS DRAG > DOLLAR HITS 7-YEAR HIGH VS YEN; AUSSIE SLIDES AFTER WEAK GDP > GOLD STEADIES NEAR $1,200 AS OIL FIRMS; SENTIMENT REMAINS BEARISH > LONDON COPPER SLIPS; CREDIT PINS BACK CONSUMER BUYS > OIL REBOUNDS 1 PERCENT AFTER SHARP LOSSES; US DATA SUPPORTS COMPANY NEWS: SAIPEM, ENI The potential termination of the South Stream gas pipeline project could result in Saipem losing 1.25 billion euros ($1.55 billion) in revenues in 2015, CEO Umberto Vergine told financial daily Il Sole 24 Ore in an interview. TELENOR, TELIASONERA The Nordic telecom operators agreed on Wednesday to merge their Danish operations, with the companies each holding half of a joint venture, they said in separate statements. LLOYDS BANKING GROUP The bank has sold a 1.6-billion-pound ($2.50 billion) portfolio of Irish mortgages to Goldman Sachs GS.N and CarVal, a private equity group, the Financial Times newspaper reported. BREWIN DOLPHIN The British wealth manager on Wednesday posted a fall in full-year pretax profit of 70 percent to 8.6 million pounds($13.5 million), hit by one-off costs including that from a failed roll-out of new software. ISS The main shareholders in the Danish business services firm sold 13.5 percent of the company's existing stock for 4.1 billion Danish crowns ($682 million), the company said on Wednesday. SANOFI The drugmaker said it had entered exclusive talks to transfer its Toulouse research and development site to German rival Evotec. NOVARTIS The Swiss drugmaker said a regional court in Italy had upheld a decision by Italian antitrust authorities which found Novartis and Roche ROG.VX colluded in anti-competitive practices. ALLIANZ The Pimco Total Return Fund posted its 19th straight month of outflows in November, totaling $9.5 billion, but withdrawals are down dramatically since former Chief Investment Officer Bill Gross' exit. E.ON China's Shanghai Electric Power 600021.SS said on Wednesday it was in preliminary contact with top German utility E.ON over the possible purchase of its Italian assets. LUFTHANSA The airline's supervisory board is expected to discuss plans to expand low-cost operations, including a foray into low-cost long-haul. Separately, pilots at Lufthansa said they would strike again on Thursday on long-haul and cargo flights, after a two-day stoppage on Monday and Tuesday stranded thousands of travellers. IBM IBM is enjoying a wave of major technology outsourcing deals from European customers in the fourth quarter and the new contract signings are not over yet, an executive for the computer services giant said in an interview. A2A The two main public shareholders of A2A have started to sell part of their stakes in Italy's biggest regional utility to raise cash for stretched local coffers, a spokesman for one of the investors said on Tuesday. SAFRAN, AIRBUS European nations approved funding for a new Ariane 6 space rocket on Tuesday, pooling their resources in a single, simplified version to tackle growing international competition. BARRY CALLEBAUT Cocoa global supply will exceed demand in the current 2014/15 market year, the chief executive of Barry Callebaut , the world's biggest maker of industrial chocolate, said on Tuesday. SAFRAN The board of Safran, which faces a change in leadership when Chairman and Chief Executive Jean-Paul Hertemann reaches the end of his mandate next year, will meet on Friday, Les Echos daily reports. The board will review recommendations to split the role into two, with Philippe Petitcolin, head of the Morpho division, and Oliver Andries, CEO of Turbomeca, slated as possible candidates for the CEO role. NEXITY BPCE, France's second-biggest retail bank, said it is selling a 4 percent stake in the French real estate group via a share placement on the market. MAUREL & PROM The oil exploration and services firm announced two positive results for its Ezanga permit in Gabon. YOOX The five days from the Thursday of Thanksgiving Day to the following Monday were the five best days of sales ever, the group said in a statement on Tuesday. SIEMENS The engineering firm has signed a contract worth 1.3 billion zlotys ($387 million) before tax to build an electricity and heating unit at a power plant for Poland's largest refiner PKN Orlen PKN.WA, PKN said in a statement on Tuesday. SALZGITTER The steelmaker said it assumed that credit insurance would cover most of any loss it accrued from Russia's decision to drop the South Stream gas pipeline project. (Reporting by Blaise Robinson; Editing by Atul Prakash)
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