Europe Factors to Watch-Shares set to bounce after 2-day slide

viernes 27 de marzo de 2015 03:15 GYT

PARIS, March 27 (Reuters) - European stocks were set to inch higher on
Friday, halting a sharp two-day retreat as a renewed fall in the euro currency
was set to help the shares of exporting companies.
    The euro dipped on Friday, trading at $1.0866, well below Thursday's
intraday high of $1.10525. European shares have strongly rallied in the past six
months as investors bet a sharp drop in the euro currency will boost the
region's economy and lift corporate results.
    At 0714 GMT, futures for Euro STOXX 50, for Germany's DAX 
and for France's CAC were up 0.1-0.2 percent.
    European stocks tumbled in the past two sessions, with the FTSEurofirst 300
 losing 1.9 percent, as a rebounding euro currency prompted investors to
cash in recent lofty gains on stocks.
    Mining shares will be in the spotlight on Friday after an industry official
said three-quarters of China's domestic iron ore capacity is incurring losses,
as a sustained slump in the price of the steelmaking commodity batters higher
cost producers. 
    Investors were also keeping a close eye on the violence in Yemen, where
President Abd-Rabbu Mansour Hadi left his refuge in Aden for Saudi Arabia as
Houthi rebels battled with his forces on the outskirts of the southern port
                                         LAST   PCT CHG  NET CHG
 S&P 500                             2,082.17    0.17 %     3.63
 NIKKEI                              17854.23    1.24 %   219.09
 MSCI ASIA EX-JP                       462.98    0.23 %     1.06
 EUR/USD                               1.2178    0.06 %   0.0007
 USD/JPY                               120.30   -0.31 %  -0.3700
 10-YR US TSY YLD                       2.245        --    -0.01
 10-YR BUND YLD                         0.593        --     0.00
 SPOT GOLD                          $1,178.91     0.3 %    $3.55
 US CRUDE                              $56.68   -0.77 %    -0.44
  > GLOBAL MARKETS-Asian stocks mixed as Mideast worries linger 
  > US STOCKS-Wall St ends down in choppy session, but off lows 
  > Tokyo's Nikkei share average closes down 0.95 pct 
  > TREASURIES-Weak seven-year auction sends yields higher 
  > Dollar off lows but poised for second weekly loss; Yellen in focus 
  > PRECIOUS-Gold dips after 7-day rally but set for second weekly gain 
  > London copper set for 3rd weekly gain as mine supply drops 
  > Oil prices fall more than $1 as supply threat eases 
    RICHEMONT is in talks to buy Richemont-owned retailer Net-a-porter
in what could be the biggest acquisition yet for the e-commerce giant, but the
negotiations are in early stages and could fall apart, Forbes reported, citing a
person familiar with the matter. 
    Anglo Australian miner Rio Tinto plans to cut jobs in mergers and
acquisitions and business development, three sources said, to cut costs as it
battles a slump in commodity prices. 
    Hedge fund Elliott Management on Thursday disclosed it had a 7.5 percent
stake in the Swedish network video surveillance firm. Citing sources, the Wall
Street Journal reported the move was intended to push Japan's Canon 7751.T to
raise its $2.8 billion bid for the firm. 
    The pharmaceutical company said late on Thursday it has decided to submit
interim analysis data from a clinical trial of its crucial new insulin drug
Tresiba to U.S. regulators within the next month. The decision is likely to be a
relief to investors, since a decision not to file on Tresiba and the related
drug Ryzodeg would have further delayed a launch in the United States.
    A search for a new chief of the Swedish truck maker has hit a snag as one of
the main candidates appears to be pulling out from the recruitment process,
meaning it will probably take some time to find a replacement for Olof Persson,
business daily Dagens Industri reported, citing unnamed sources. 
    French energy group EDF is considering whether to take a stake in struggling
nuclear power group Areva, business daily Les Echos reported. 
    PSA Peugeot Citroen said on Friday it had chosen a French factory over a
rival Spanish plant to expand engine production, prompting a visit by President
Francois Hollande to highlight a bright spot in France's gloomy labour market.
    French building materials group Saint-Gobain's sale of its glass bottles
business Verallia may raise up to 2.8 billion euros, Les Echos newspaper
    French businessman Vincent Bollore's holding company Bollore said on
Thursday it had raised its stake in the French media group Vivendi beyond 10
    French drugmaker Genfit said on Thursday it will begin a late stage trial
later this year of its lead treatment for a liver-destroying condition, saying
it failed a midstage trial in part due to its inclusion of many patients with a
mild form of the disease. 
    Italian tyre maker Pirelli is not talking to others about a possible
counterbid after receiving a takeover offer from China National Chemical Corp,
CEO Marco Tronchetti Provera told Reuters. 
    The lender is working with JP Morgan to review merger options for the
Milan-based cooperative lender, two sources familiar with the matter said on
    Italy's antitrust said on Thursday it had slapped fines worth an overall 29
million euros on the two insurers for restricted practices in regard to
participation in tenders for providing insurance for 15 publicly-owned local
transport companies. Both companies said they will appeal the decision.
    German aviation association BDL said all German airlines, including
Lufthansa and its unit Germanwings, had agreed to discuss possible new rules
requiring two crew members to be in the cockpit at all times following the
Germanwings crash. 

 (Reporting by Blaise Robinson)