LONDON, Dec 5 (Reuters) - European shares were expected to rebound on Friday, recouping some of the sharp losses suffered in the previous session, as investors positioned for strong U.S. jobs data, which would underpin expectations about growth in the world’s largest economy.
Futures for the Euro STOXX 50 equity index, Germany’s DAX and France’s CAC were up between 0.8 percent and 1.1 percent at 0725 GMT.
U.S. employment growth likely accelerated a bit in November. Nonfarm payrolls probably increased by 230,000 jobs last month after rising by 214,000 in October, according to a Reuters survey of economists.
Analysts warned that a number too far above consensus would trigger speculation about an early rate hike by the Federal Reserve.
“Anything above 200k without being too close to 300k and risking a sooner rate hike from the Fed should be supportive of stock markets,” Jasper Lawler, a market analyst at CMC Markets, said.
The Euro STOXX 50 index of euro zone blue chips fell 1.7 percent on Friday, after the European Central Bank stuck to its line that it would decide early next year on further measures, sparking a bout of profit-taking.
The index was down 1.8 percent from its close the previous Friday, setting it on course for its first weekly loss since mid-November.
GlaxoSmithKline said on Thursday it had decided not to sell a portfolio of older drugs marketed in North America and Europe after considering offers from potential buyers.
French oil services group Technip has not yet submitted a formal offer for CGG, three sources familiar with the matter told Reuters after rumours of a fresh bid boosted shares in the seismic specialist.
A Chinese-led consortium was chosen by French officials to acquire a stake in Toulouse-Blagnac airport, beating a group of French bidders including Aeroports de Paris, Vinci and EDF as the privatization nears a conclusion.
E.ON’s move to spin off its power plants, aimed at ridding it of billions of euros in losses, could turn Germany’s top utility into a takeover target for deep-pocketed infrastructure investors keen on the steady returns of its power and gas grids.
Tesco could find salvation in Thailand. The embattled British supermarket is eyeing ways to raise cash through asset sales. Its business in Asia is healthy and has potential to grow. If Tesco wants to offer investors a growth story as well as a turnaround tale it needs to retain control of its international operations. Listing a minority stake in its Thai unit could shore up the group’s balance sheet.
British infrastructure group Balfour Beatty said it had rejected a 1 billion pound ($1.6 billion) offer from John Laing Infrastructure Fund for its public-private partnership assets.
Zurich Insurance Group said it was on track to reach the key financial targets it has set itself for 2016, according to slides in a presentation to investors.
Spain’s Bankia presented a series of error-strewn accounts for 2011, the year it listed shares, according to a report released on Thursday as part of a long-running court investigation into its flotation and state bailout.
Italian oil services group Saipem has been notified of the suspension of “marine spread activities”, which include pipe-laying operations, as part of the South Stream project.
Italian insurer Generali has sold 11.6 million shares in roads and airports group Atlantia in a deal valued at 223.4 million euros ($276.17 million), two sources familiar with the matter said on Thursday.
Fiat Chrysler Automobiles said on Thursday it had launched an expected share sale and a $2.5 billion mandatory convertible bond as it seeks to reduce its mounting debt pile and fund an ambitious five-year investment plan.
Automobile production and sales in Brazil slipped in November, suggesting the usual acceleration in year-end demand was not enough to save the market from its biggest drop in 15 years.
UBS said on Thursday it will set up a separate group asset and liability unit to help it manage risk in the bank’s new structure, which ensures it can be broken up more easily in case of a renewed crisis.
The airline said it expected a rapid return to its nomal flight schedule on Friday following a strike by pilots.
The company keeps investing in steel operations even as it expands into higher-margin businesses such as elevator technology, broadcaster WDR reported on Thursday, citing Chief Executive Heinrich Hiesinger.
France’s high tax burden makes it hard to recruit top executives, Chairman Serge Weinberg said, as the drugmaker continues to hunt for a new boss.
0700 DE Industrial orders, Oct
1330 US Non-farm payrolls Nov
1330 US Unemployment rate Nov
1500 US Durable goods Oct
> ASIAN SHARES, DOLLAR AWAITS U.S. JOBS REPORT > WALL ST ENDS WITH SLIGHT LOSSES, ENERGY WEIGHS AGAIN > NIKKEI STAYS NEAR MULTI-YEAR HIGHS DUE TO OPTIMISM OVER U.S. DEMAND > PRICES RISE AS EURO BONDS SAG ON ECB OUTLOOK > FOREX-EURO UP ON SHORT-COVERING RALLY POST-ECB, U.S. PAYROLLS NEXT > GOLD SET FOR BEST WEEK IN 9 MTHS; TRADERS CAUTIOUS AHEAD OF DATA > LONDON NICKEL EYES 6 PCT WEEKLY GAIN AS CHINA ORE PRICES RISE > BRENT EXTENDS LOSSES BELOW $70 AFTER SAUDI PRICE CUT
Reporting By Francesco Canepa; Editing by Atul Prakash