European Factors to Watch-Equity selloff eyed as copper, oil slide
(Adds further company news, updates futures) LONDON, Jan 14 (Reuters) - European shares were expected to fall sharply at the open on Wednesday, mirroring a slump in copper and oil prices after the World Bank cut its global growth forecast for this year. Futures for the Euro STOXX 50 equity index, Germany's DAX and France's CAC were between 1.3 percent and 1.5 percent lower at 0730 GMT. The World Bank on Tuesday lowered its global growth forecast for 2015 and next year due to disappointing economic prospects in the euro zone, Japan and some major emerging economies that offset the benefit of lower oil prices. A wave of stop-loss selling pushed London copper to 5-1/2 year lows on Wednesday, while Shanghai prices hit their 'limit down' after an oil rout slammed investment in commodities. COMPANY NEWS: BURBERRY British luxury brand Burberry warned on Wednesday that a fall in sales in the key market of Hong Kong in the last quarter of 2014 could impact its full-year margin. SUPERGROUP SuperGroup, the owner of clothing brand Superdry, said it was confident of meeting its full-year profit target after a healthy jump in sales over the Christmas period. OCADO Online supermarket retailer Ocado reported a 14.8 percent year-on-year rise in December sales. PREMIER OIL Oil and gas explorer Premier Oil said it expected to book a $300 million impairment charge on some of its assets for 2014 due to weak oil prices. ROYAL DUTCH SHELL Royal Dutch Shell Plc said on Tuesday it received U.S. approval to export a very light form of crude oil that has undergone minimal processing. AIRBUS Boeing Co said on Tuesday that it sees no business case for offering an extended-range version of its largest 737 jet, the forthcoming 737 MAX 9, to compete with a long-range plane that rival Airbus launched on Tuesday. AIR FRANCE-KLM Air France-KLM said on Tuesday it was too early to detail further belt-tightening actions to cope with a tough economic climate as it denied a Le Figaro newspaper report that it planned around 5,000 job cuts. ASTRAZENECA Britain's AstraZeneca Plc on Tuesday lost an appeal in Germany's Federal Court against generic drugmakers selling cheap copies of its anti-psychotic drug Seroquel XR. ROCHE The Swiss drugmaker said it had entered into an agreement with QIAGEN that includes a provision of non-exclusive licenses to recently granted Roche patents, pertaining to the detection of mutations in the EGFR pathway. JUPITER FUND MANAGEMENT Jupiter Fund Management's assets under management (AUM) rose to 31.9 billion pounds ($48.33 billion) in the three months to December from 31.7 billion pounds at the end of September, the money manager said on Wednesday. ROYAL BANK OF SCOTLAND Royal Bank of Scotland has abandoned annual bonuses for its top executives, Sky News reported. The Financial Times also reported that the U.S. Federal Reserve had given RBS a waiver concerning foreign bank rules. GERMAN BANKS Low interest rates may lead some banks to take on unwarranted risks and lenders must sharpen their focus on business models and costs in a tough environment, German financial regulator Bafin said on Tuesday. BANCA CARIGE Non binding offers for Carige's private banking unit Banca Cesare Ponti are expected in February and an offer for Banca Finnat could be included, sources said on Tuesday. BARRATT DEVELOPMENTS Housebuilder Barratt Developments said demand for its properties across all of its regions remained robust, with total forward sales rising by 17.1 percent to 1.68 billion pounds ($2.55 billion). GDF-SUEZ The French utility aims to double its power generation capacity from renewable energy in Europe between 2015 and 2025 and will focus in particular on marine energies, the company said on Tuesday. MAJOR U.S. COMPANIES REPORTING : 1200 Q4 2014 JPMorgan Chase & Co 1300 Q4 2014 Wells Fargo & Co MAJOR MACROECONOMIC DATA/EVENTS (GMT) : 0745 FR CPI Final Dec 0900 IT CPI Final Dec 0900 EZ Industrial Production Nov 1330 US Import Prices Dec 1330 US Retail Sales Dec 1500 US Business Inventories Nov ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0730 GMT: LAST PCT CHG NET CHG S&P 500 2,023.03 -0.26 % -5.23 NIKKEI 16795.96 -1.71 % -291.75 MSCI ASIA EX-JP 467.66 -0.61 % -2.89 EUR/USD 1.1797 0.21 % 0.0025 USD/JPY 117.08 -0.71 % -0.8400 10-YR US TSY YLD 1.867 -- -0.02 10-YR BUND YLD 0.458 -- -0.02 SPOT GOLD $1,231.22 0.05 % $0.62 US CRUDE $45.44 -0.98 % -0.45 > COPPER SUFFERS MELTDOWN ON GROWTH ANXIETY, EURO ON DEFENSIVE > WALL ST ENDS DOWN IN VOLATILE DAY; MATERIALS A DRAG > NIKKEI SLIDES AS PROLONGED OIL SLUMP UNDERMINES RISK APPETITE > U.S. BOND YIELDS HOLD STEADY AS STOCK RALLY FADES > YEN BENEFITS FROM VOLATILITY, EURO AT 9-YR LOWS VS DLR > GOLD SLIPS FROM 12-WEEK HIGH AS OIL, COPPER TUMBLE > LONDON COPPER at 5-1/2 YEAR LOW; SHANGHAI DROPS 5 PCT > OIL PRICES EXTEND SLIDE IN COMMODITIES SELL-OFF (Reporting by Francesco Canepa; Editing by Sudip Kar-Gupta)
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