European Factors to Watch-Shares seen broadly higher on Greece optimism
(Updates futures prices, adds company news) LONDON, June 23 (Reuters) - European shares were likely to broadly extend the previous session's strong rally on growing expectations that Greece was getting closer to strike a deal with its international creditors and could avoid a debt default. Greece presented new budget proposals that euro zone leaders welcomed as a basis for a possible agreement to unlock frozen aid and avert a looming default. European Council President Donald Tusk called the Greek proposals "a positive step forward". He said the aim was to have the Eurogroup finance ministers approve a cash-for-reform package on Wednesday evening and put it to euro zone leaders for final endorsement on Thursday morning. At 0647 GMT, futures for the Euro STOXX 50, France's CAC and Germany's DAX were 0.8 to 0.9 percent higher. However, Britain's FTSE 100 futures were up 0.3 percent. "We are calling the major bourses firmer with the exception of the FTSE ... UK equities and the sterling had both benefited from the Greek crisis and it now seems we could see some underperformance as focus shifts back to Europe," IG Strategist Stan Shamu said in a note. "While significant progress has been made on Greece, with leaders deeming the latest developments as 'a step in the right direction', there are still a number of uncertainties at play. Some analysts have expressed concern that the focus will shift to the Greek domestic political scene." The pan-European FTSEurofirst 300 index closed 2.4 percent higher in the previous session, while the euro zone's Euro STOXX 50 gained 4.1 percent, its biggest one-day percentage rise since August 2012. Greek stocks climbed 9 percent, with local banking shares jumped nearly 21 percent. Greek optimism boosted global stocks, with the Nasdaq closing at a record high on Monday and Japan's Nikkei share average climbing to a fresh 15-year high on Tuesday. On the macroeconomic front, China's factory activity showed signs of stabilising in June, with two private surveys suggesting the economy may be regaining some momentum even as many analysts expect further policy support to ensure the recovery becomes more sure-footed. COMPANY NEWS ALTICE, BOUYGUES The bid by Altice for Bouygues Telecom risks creating an operator that would be "too big to fail" and could threaten jobs, France's economy minister said, hardening government opposition to the deal. SYNGENTA The company's chairman said any takeover offer needed to be at a fair price and provide a high degree of certainty that it will clear regulatory hurdles, as he reaffirmed the Swiss firm's opposition to Monsanto's current proposal. For more click on UNICREDIT Italy's UniCredit will fine-tune its 2013-18 business plan before the end of this year to take account of the new economic scenario and lower interest rates, the bank's CEO said on Monday. BUNZL The British business supplies distributor said organic growth slowed in the first half of its financial year, due to some lost business and price declines on plastic resin based products in North America. The company also said it has agreed to acquire four new businesses in U.S, Colombia, Canada and France. VALNEVA The biotech company predicted 20-25 million euros in full-year sales of its Ixiaro vaccine, short of a previous 30 million target, as it takes over marketing and distribution following termination of a deal with GSK. TELENOR, TELIASONERA EU antitrust regulators will this week warn Norwegian telecoms company Telenor and Sweden's TeliaSonera about the adverse impact of their plan to combine forces in Denmark, sources told Reuters on Monday., A.P MOLLER-MAERSK The Danish conglomerate's drilling unit, Maersk Drilling, plans to lay off 180 to 190 workers in Norway, a union for Maersk employees in Norway said in a statement dated June 22. KAPPAHL The Swedish fashion retailer posted operating profits at 42 million crowns ($5 million) in the third quarter versus expectations of 72 million in a Reuters poll. Net sales in comparable stores decreased by 5.9 percent during the quarter. For more on the company, click on VOLKSWAGEN German prosecutors have pressed further charges against two former top executives of Porsche SE, a holding company, over their role in the firm's botched attempt to take over Volkswagen in 2008. LLOYDS BANKING GROUP Britain has reduced its stake in Lloyds to below 17 percent, the finance ministry said in a stock market disclosure on Tuesday. The taxpayer's stake has fallen to 16.87 percent, the ministry added. PETROFAC Oilfield services company Petrofac Ltd said it expected its net profit for the year to be weighted towards the second half and that its order book at the end of May had grown to $20.5 billion. TULLOW OIL British oil and gas explorer Tullow Oil drilled a dry well in the Norwegian Sea, about 14 kilometres southeast of the Heidrun field, partner North Energy said on Tuesday. ANGLO AMERICAN World No. 1 platinum producer Anglo American Platinum, a unit of Anglo American, said on Tuesday it aimed to reconfigure a number of its South African mines to make them more profitable in the face of depressed prices. G4S Security services group G4S has drawn up plans with Greece's central bank to keep the country's cash machines stocked in the event of a full-blown economic crisis, the company told Reuters on Monday. LADBROKES British bookmaker Ladbrokes PLC said on Monday evening that it was in talks with the board of Gala Coral Group Limited to combine their businesses and list the entity on London's stock market. ASSA ABLOY The company acquired security door maker Prometal Group. MACROECONOMIC DATA/EVENTS (GMT) : 0645 FR Business Climate 0700 FR Markit Mfg Flash PMI 0730 DE Markit Mfg Flash PMI 0800 EZ Markit Mfg Flash PMI 1000 GB CBI Trends 1230 US Durable Goods 1255 US Redbook ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0605 GMT: LAST PCT CHG NET CHG S&P 500 2,122.85 0.61 % 12.86 NIKKEI 20809.42 1.87 % 381.23 MSCI ASIA EX-JP 489.45 0.66 % 3.2 EUR/USD 1.1268 -0.63 % -0.0072 USD/JPY 123.66 0.24 % 0.3000 10-YR US TSY YLD 2.383 -- 0.02 10-YR BUND YLD 0.893 -- 0.00 SPOT GOLD $1,186.20 0.13 % $1.50 US CRUDE $60.26 -0.2 % -0.12 > Asian shares bolstered by hopes for Greek deal > Wall St rises on Greece optimism, Nasdaq ends at record > Nikkei rises to fresh 15-year high as Greece debt deal looks more likely > Bond prices tumble on Greece optimism, strong U.S. data > Euro slips as market looks beyond initial progress in Greece talks > Greek optimism curbs demand for gold as equities gain > London copper jumps 3-mth low, but could drop again > Oil prices fall on oversupply concerns, weak economic data (Reporting by Atul Prakash)
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