Europe Factors to Watch-Shares set to dip ahead of Germany's Ifo

miércoles 25 de marzo de 2015 03:22 GYT

PARIS, March 25 (Reuters) - European stocks were set to dip on Wednesday,
hovering below 7-1/2 year highs, as investors awaited a survey on German
business climate for insight on the outlook for Europe's biggest economy.
    Shares in Raiffeisen Bank International will be in focus after the
Austrian lender warned on Wednesday it may post a 2015 loss as it books
restructuring costs for a major retrenchment after decades of expansion in
central and eastern Europe. 
    French luxury goods maker Hermes will also be in the spotlight
after posting a 7 percent rise in full-year operating income but said foreign
exchange rates dragged its margin lower. 
    At 0721 GMT, futures for Euro STOXX 50, for Germany's DAX 
and for France's CAC were down 0.3 percent.
    European shares ended higher on Tuesday, with forecast-beating business
surveys from Germany and France offsetting poor Chinese factory data.
                                         LAST   PCT CHG  NET CHG
 S&P 500                             2,091.50   -0.61 %   -12.92
 NIKKEI                               19746.2    0.17 %    32.75
 MSCI ASIA EX-JP                       488.56   -0.05 %    -0.23
 EUR/USD                                1.093    0.05 %   0.0006
 USD/JPY                               119.71   -0.01 %  -0.0100
 10-YR US TSY YLD                       1.873        --    -0.01
 10-YR BUND YLD                         0.219        --    -0.02
 SPOT GOLD                          $1,189.40   -0.28 %   -$3.33
 US CRUDE                              $47.10   -0.86 %    -0.41
  > GLOBAL MARKETS-Stocks stall as Wall St dips, dollar holds gains 
  > US STOCKS-Wall Street down for 2nd straight day; energy weak 
  > Nikkei edges up as investors seek dividends 
  > TREASURIES-Yields fall as concern over low inflation persists 
  > FOREX-Dollar finds steadier footing, takes breather from selloff 
  > PRECIOUS-Gold near 2-1/2 week high on U.S. rate expectations 
  > METALS-London copper off 2-1/2 mth peak on slightly firmer dollar 
  > Oil prices dip as U.S. inventory build drags 
    The lender warned it may post a 2015 loss as it books restructuring costs
for a major retrenchment after decades of expansion in central and eastern
    French luxury goods maker Hermes posted a 7 percent rise in full-year
operating income but said foreign exchange rates dragged its margin lower.
Hermes said it would propose a dividend of 2.95 euros a share, as well as an
exceptional dividend of 5 euros a share. 
    One of the black boxes from the Germanwings plane that crashed in the Alps
on Tuesday, killing 150 people, has been found and would be examined
immediately, France's Interior Minister Bernard Cazeneuve said. 
    Spain's Telefonica said late on Tuesday it had finalised a deal to sell its
British mobile business O2 to Li Ka-shing's Hutchison Whampoa 0013.HK for 10.25
billion pounds. 
    Airbus said it is selling a further 15 percent stake in business and fighter
jet maker Dassault Aviation as it continues to unwind its 16-year-old link to
its defence market rival. 
    Seven institutions, including the euro zone's largest listed bank, Santander
SAN.MC, have presented non-binding bids for Portugal's Novo Banco, the successor
to Banco Espirito Santo (BES) after a state rescue last year. 
    Spain's Banco Sabadell sees little chance of a rival bidder for TSB emerging
as it closes in on a takeover of the British bank, Chairman Josep Oliu said in
an interview with Reuters on Tuesday, adding he did not expect major regulatory
obstacles for the purchase. 
    The Swiss bank said it would acquire a 60 percent stake in London-based
TwentyFour Asset Management, which has around 4.4 billion pounds ($6.54 billion)
in assets under management. 
    Austrian property company Conwert rejected Deutsche Wohnen's 1.2 billion
euro ($1.31 billion) bid for the company, saying the offer did not adequately
reflect its business outlook for 2015 and 2016 or Conwert's refinancing
    Colony Capital and Eurazeo announced plans to sell a 9.65 percent stake in
the French hotel group. 
    The French media group urged shareholders to reject demands by a U.S. hedge
fund P. Schoenfeld Asset Management for a larger payout from the proceeds of
recent asset sales. 
    The Italian broadcaster will resume paying dividends after a two-year
hiatus, encouraged by a recovery in Spain and expectations of growth in its
domestic business. 
    The French state-controlled nuclear group may draw on credit lines worth
over 2 billion euros to bridge a cash shortage, Chief Executive Philippe Knoche
told parliament. 
    Abu Dhabi's Aabar Investments said an exchange price of 8.8642
euros had been set for shares in Italy's UniCredit. Aabar Investments said
earlier on Tuesday it had successfully placed 2 billion euros of unsecured
exchangeable bonds over shares of the Italian bank. 
    Italy's upper house of parliament on Tuesday approved a reform that aims to
convert the country's 10 largest cooperative banks into joint stock companies, a
measure that is expected to spur mergers in the sector. 
    The French drugmaker said its full-year net loss widened to 48.6 million
euros from 42.9 million. 

 (Reporting by Blaise Robinson)