Europe Factors to Watch-Shares set to bounce, Inditex in focus

miércoles 18 de marzo de 2015 03:26 GYT
 

PARIS, March 18 (Reuters) - European stocks were set to inch higher on
Wednesday, halting the previous session's pull-back, with Inditex in
focus after the Spanish fashion giant posted in-line results.
    Investors also awaited the Federal Reserve's policy statement, due after the
European session, for clues about when U.S. interest rates will rise.
    At 0723 GMT, futures for Euro STOXX 50, for Germany's DAX 
and for France's CAC were up 0.3 percent.
    The Fed statement is due at 1800 GMT, followed 30 minutes later by a news
conference with Chair Janet Yellen. Financial markets are most interested in
whether the U.S. central bank will remove the word "patient" from its remarks on
raising rates. [I:nL2N0WI19U]
    Danish banking stocks will be in the spotlight after the country's central
bank said commercial banks' current accounts limits will be increased to 145
billion Danish crowns ($20.6 billion) from 37 billion crowns, effective from
Friday. 
    Greek shares will also be in focus after Greece frustrated its main
creditors on Tuesday by refusing to update euro zone peers on its reform
progress at a scheduled teleconference, insisting instead that the discussions
should be escalated to Thursday's European Union summit. 
    
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  MARKET SNAPSHOT AT 0723 GMT:
                                         LAST   PCT CHG  NET CHG
 S&P 500                             2,074.28   -0.33 %    -6.91
 NIKKEI                              19544.48    0.55 %   107.48
 MSCI ASIA EX-JP                       477.36    0.45 %     2.13
 EUR/USD                               1.0595   -0.02 %  -0.0002
 USD/JPY                               121.28   -0.06 %  -0.0700
 10-YR US TSY YLD                       2.042        --    -0.02
 10-YR BUND YLD                         0.273        --    -0.01
 SPOT GOLD                          $1,146.26    -0.2 %   -$2.29
 US CRUDE                              $42.59      -2 %    -0.87
   
  > GLOBAL MARKETS-Asia stocks up before Fed, dollar treads water  
  > US STOCKS-Dow, S&P 500 fall on Fed nervousness; Nasdaq inches up  
  > Nikkei flat as market awaits Fed clues; Nintendo set to surge  
  > TREASURIES-Yields fall as sliding oil prices hint at mild inflation  
  > FOREX-Dollar bulls bank on Fed losing its patience 
  > PRECIOUS-Gold comes off 4-month low; Fed outcome eyed  
  > METALS-London copper marks time ahead of Fed outcome  
  > Brent falls towards $53 after U.S. crude stocks rise 
    
    COMPANY NEWS:
    
    INDITEX 
    Spanish fashion giant posted a 5 percent rise in 2014 profit to 2.5 billion
euros ($2.65 billion) on Wednesday, as an economic recovery fed customer
appetite for fashion in its biggest European markets and negative exchange rate
pressure faded. 
    
    DANISH BANKS
    The Danish commercial banks' current accounts limits at the Danish central
bank will be increased to 145 billion Danish crowns ($20.6 billion) from 37
billion crowns effective from Friday, the central bank said on Wednesday.
 
        
    BARCLAYS 
    Citigroup Inc and Barclays are close to settling as early as this week
a lawsuit with private investors who say the banks manipulated foreign-exchange
rates, the Wall Street Journal said. 

    ADIDAS 
    China's Yue Yuen Industrial Holdings Ltd, a sports shoe maker that
supplies both Nike and Adidas, said on Wednesday thousands of workers at
a factory in the south of the country have gone on strike following changes to
production processes. 

    DEUTSCHE BANK 
    Subsidiary Sal. Oppenheim posted a 2014 loss due to restructuring and legacy
legal issues, the unit's Chief Executive Wolfgang Leoni told Boersen-Zeitung.
 
    
    LUFTHANSA 
    Pilots at Lufthansa called a fresh strike for Thursday, this time on
long-haul and cargo flights, just hours ahead of 24 hour strike on short and
medium-haul flights on Wednesday. 
    
    BRENNTAG 
    The world's largest chemicals distributor posted a 4 percent rise in
full-year core earnings, helped by growth in its main markets of Europe and
North America. 

    SACYR 
    The Panama Canal Authority said on Tuesday it had asked for an international
arbitration panel to review a decision to award $233 million to the consortium
expanding the canal, lead by Spain's Sacyr, in a dispute over cement quality.
 
    
    BALLAST NEDAM 
    Dutch builder on Wednesday scrapped its 2014 forecast and postponed the
announcement of its annual results after cost overruns deteriorated further at
two major road-building projects. 
    
    DEUTSCHE WOHNEN, CONWERT 
    The group launched its 11.50 euro per share bid for Austrian target Conwert
on Wednesday and ruled out sweetening the price despite criticism from some
Conwert shareholders. 
    
    EUROTUNNEL 
    The operator of the Channel Tunnel raised its dividend by 20 percent and
forecast a further rise in profit this year and next, driven by a recovery in
the British economy and signs of improvement in Europe. 
    
    LAFARGE 
    The cement maker's board and that of competitor Holcim met separately in an
attempt to salvage their troubled merger agreement. 
    
    SBM OFFSHORE 
    Brazil's comptroller general and Dutch oil platform leasing firm SBM
Offshore said they had agreed on a framework for what could be the first
leniency deal in a bribery scandal linked to Brazil's state-run oil firm
Petrobras. 
    
    HEURTEY PETROCHEM 
    The oilfield equipment manufacturer targeted full-year revenue of 400-420
million euros after earnings before interest, tax, depreciation and amortization
advanced to 24.7 million euros in 2014 from 21.3 million. 
           
    BOSKALIS, FUGRO 
    Dutch marine engineer Fugro does not have to give shareholders a vote on one
of its poison pill defences against takeovers, a Dutch court ruled, a decision
that will help to keep other Dutch companies safe from predators.
 
    
    
    
    

 (Reporting by Blaise Robinson)