Europe Factors to Watch-Shares set to dip ahead of Germany's Ifo
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. ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0720 GMT: 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 COMPANY NEWS: RAIFFEISEN BANK INTERNATIONAL 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 Europe. HERMES 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. LUFTHANSA, AIRBUS 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. TELEFONICA 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 GROUP DASSAULT AVIATION 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. BANCO SANTANDER 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. SABADELL, TSB 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. VONTOBEL 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. DEUTSCHE WOHNEN, CONWERT 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 potential. ACCOR Colony Capital and Eurazeo announced plans to sell a 9.65 percent stake in the French hotel group. VIVENDI 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. MEDIASET 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. AREVA 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. UNICREDIT 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. ITALIAN COOPERATIVE BANKS 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. TRANSGENE The French drugmaker said its full-year net loss widened to 48.6 million euros from 42.9 million. (Reporting by Blaise Robinson)
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