European Factors to Watch-Shares seen opening higher, eyes on Greece

jueves 9 de julio de 2015 02:33 GYT
 

(Updates futures prices, adds company news)

LONDON, July 9 (Reuters) - European shares headed for a higher open on Thursday, with some investors betting that Greece's international creditors will positively consider Greece's reform proposals and ultimately agree on a debt deal.

In a speech to the European Parliament, Greek Prime Minister Alexis Tsipras called for a fair deal after EU leaders gave him five days to come up with convincing reforms.

The Greek government submitted a request to the European Stability Mechanism bailout fund to lend an unspecified amount "to meet Greece's debt obligations and to ensure stability of the financial system" and promised to begin implementing tax and pension measures.

"European equities are set to start with gains this morning as traders continue to be bucked by the reassurances that Alex Tsipras will submit a credible set of reforms to secure much needed cash," London Capital Group said in a note.

Futures for the Euro STOXX 50 index, Germany's DAX, France's CAC and Britain's FTSE 100 were 0.4 to 0.7 percent higher by 0633 GMT.

The euro zone's Euro STOXX 50 index, Germany's DAX and Italy's FTSE MIB rose 0.8 to 2.1 percent in the previous session.

Commodity-related stocks will be in focus as stocks in China, the world's largest metals consumer, rallied on Thursday after the securities regulator banned shareholders with large stakes in listed firms from selling, in Beijing's most drastic step yet to stem a sell-off that has roiled global financial markets.

On the macroeconomic front, German exports rose at their fastest pace this year in May, boosting expectations that Europe's largest economy will pull off stronger growth in the second quarter after expanding modestly in the first.   Continuación...