European Factors to Watch-European shares to resume sell-off
LONDON, Dec 12 (Reuters) - European stock markets were expected to resume their losing streak on Friday, with renewed declines in the price of oil seen hitting energy stocks while political concerns over Greece also peg back equities. Financial spreadbetters saw Britain's FTSE 100 opening down by 65-72 points, or 1.0-1.1 percent lower. Germany's DAX was expected to open down by 90-101 points, or 0.9-1.0 percent lower, while France's CAC 40 was seen falling by 43-47 points, or down by 1.0-1.1 percent. "Despite overnight gains in the U.S. and Asia, we are expecting over 1 percent drops for the major indices on the open," said Capital Spreads dealer Jonathan Sudaria in a note. Brent crude continued its march downwards on Friday and dropped to a 5-1/2-year low of $63 a barrel, bringing this week's losses to more than 8 percent amid persistent concerns over a global supply glut and a bearish demand outlook. China's economy also showed further signs of fatigue in November, with factory growth slowing more than expected and investment expansion hovering near a 13-year low, putting pressure on policymakers to unveil stronger stimulus measures. In Greece, Prime Minister Antonis Samaras on Thursday warned the country risked a "catastrophic" return to the depths of its debt crisis if his government fell, raising the stakes before a presidential vote this month. On the corporate takeovers front, newspaper Expansion reported that Spanish oil group Repsol was finalising a bid of around 4 billion euros ($5 billion) for Canada's Talisman Energy Inc. ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0633 GMT LAST PCT CHG NET CHG S&P 500 2,035.33 0.45 % 9.19 NIKKEI 17,371.58 0.66 % 114.18 EUR/USD 1.2396 -0.1 % -0.0013 USD/JPY 118.84 0.16 % 0.1900 10-YR US TSY YLD 2.153 -- -0.03 10-YR BUND YLD 0.679 -- 0.00 SPOT GOLD $1,221.56 -0.49 % -$5.99 US CRUDE $59.39 -0.93 % -0.56 > GLOBAL MARKETS-ASIAN SHARES LIFTED BY U.S. DATA, OIL SLIDES > WALL ST BOUNCES AFTER 3-DAY SLUMP; OFF DAY'S HIGHS AS OIL FALLS > NIKKEI SNAPS 3-DAY LOSING STREAK ON US DATA, WEAK YEN; ELECTION EYED > TREASURIES-LONG BONDS GAIN AS AUCTION SEES STRONG INVESTOR DEMAND > DOLLAR BULLS EMERGE AFTER UPBEAT US RETAIL SALES, OIL CURRENCIES SOFT > PRECIOUS-GOLD EASES AS DOLLAR FIRMS, BUT SET FOR BEST WEEK SINCE JUNE > METALS-LONDON ZINC STEADIES AFTER OIL SLAP > BRENT HITS 5-1/2 YEAR LOW OF $63 ON SUPPLY GLUT, DEMAND WOES COMPANY NEWS: REPSOL /TALISMAN : Spanish oil group Repsol is finalising a bid of around 4 billion euros for Canada's Talisman, newspaper Expansion reported. BMW : BMW India has announced a price hike of up to 5 percent across BMW and Mini products. COMMERZBANK : Commerzbank's expected settlement with authorities over alleged violations of U.S. sanctions and anti-money laundering laws is likely to exceed $1 billion in penalties, according to a person familiar with the probes. HUGO BOSS : Private equity firm Permira is cutting its stake in fashion retailer Hugo Boss to about 32 percent from 39 percent by selling more shares on the open market, Hugo Boss said late on Thursday. AURUBIS : Aurubis, Europe's biggest copper smelter, said it expects a "significant" rise in operating earnings this fiscal year after posting a 21 percent increase in operating pretax profit for last year. ($1 = 0.8067 euros) (Reporting by Sudip Kar-Gupta; Editing by Atul Prakash)
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