European Factors to Watch-Stocks to surge after Greece submits reform plan

viernes 10 de julio de 2015 02:23 GYT

LONDON, July 10 (Reuters) - European stocks were seen surging at the open on
Friday after Greece submitted  fresh reform proposals to its euro zone
creditors, making substantial concessions in a bid to win new funds and avert
    U.S. futures jumped 1 percent in early Asian trade after proposals were
announced. Greece has asked for 53.5 billion euros ($59 billion) to help cover
its debts until 2018, but has pledged new tax hikes in return. 
    Traders said that the latest reform plan had made investors cautiously
optimistic that a deal could be struck by Sunday's deadline.
    "The proposals appear to offer additional concessions from Greece on the key
issues that have stalled negotiations this year," said Craig Erlam, senior
market analyst at OANDA.
    "(The proposals) could offer a platform on which a deal could be agreed this
    Futures for the Euro STOXX 50, Germany's DAX and France's
CAC were up  1.8-2.3 percent by 0603 GMT, with futures for Britain's
FTSE lagging slightly, up 1.1 percent.
    The pan-European FTSEurofirst 300 closed 2.3 percent up at 1,511.64
points on Thursday, moving further away from a 5 month low hit earlier this
    However it remains down over 8 percent from a 14-year high hit in April,
pressured by uncertainty over the Greek debt crisis and volatility in Chinese
    In addition to optimism over a potential Greece deal, global markets also
took heart from a continued recovery in China's stock market, which rose
strongly for a second day on Friday, buoyed by a barrage of government support
    Brazil's government is preparing measures to increase vehicle exports, part
of a plan to bolster its faltering automobile industry, the country's most
important manufacturer, the head of the country's automakers association said on
    Separately, Volkswagen told employees on Thursday that new VW brand chief
Herbert Diess had been lured by Chief Executive Martin Winterkorn, a political
gesture designed to gloss over any signs of rivalry between the two executives
as VW seeks to move on from a damaging leadership crisis. 
    Also, Bloomberg reported that Volkswagen was offering its China car dealers
$161 million as demand slows. 
    T-Mobile US Inc said on Thursday that aggressive pricing helped
boost its net customer additions in the second quarter by 41 percent over a year
ago to 2.1 million, and also offered free calls to and from Mexico and Canada.
    The reinsurer is considering calling off its planned 90 million-euro
takeover of Greece's ATE Insurance if political developments in Greece
deteriorate, the company said on Thursday. 
    A U.S. appeals court on Thursday upheld the cancellation of a software
patent owned by Versata Inc that previously led to a $345 million jury verdict
against SAP. 
    The industrial company has not seen an easing in pricing pressures in the
gas-fired turbine market, the head of the company's energy business said on
    Monsanto President Brett Begemann told U.S. soybean growers that if it buys
Syngenta, the combined company would be run out of the United States and enough
Syngenta operations would be shed to ensure continued market competition for
seeds and chemicals.
    For more click on [SYNN.VX}
    The Swiss cement maker holds 87.5 percent of the capital of French merger
partner Lafarge after a tender offer that ended this week. The two
companies unveiled a "merger of equals" last April to create the world's biggest
cement maker, but terms were revised in March after shareholders in the Swiss
company complained they were getting a raw deal.
    For more news see 
     RBS France 
    The French branch of Royal Bank of Scotland should soon open a voluntary
redundancy plan, financial daily Les Echos said, adding that in a worst-case
scenario staffing at the bank could fall to 20 people. On its website, RBS says
the Paris office, opened our office in 1999, employs more than 170 French and
international bankers.
    Swiss cement maker Holcim will hold 87.46 percent of the share
capital of French merger partner Lafarge and at least 83.94 percent of its
voting rights under final results of an exchange offer, Holcim said on Thursday.
    Plastivaloire acquired through subsidiary BAP GmbH the Turkish plasturgiste
Otosima. The acquisition to be paid entirely in cash and financed through
banking credit. 
    HOUSEBUILDERS - Britain will announce on Friday an overhaul of rules on how
and where new houses can be built as it tries to address a chronic shortage of
homes and put its economy on a sounder footing. 
    BRITISH AMERICAN TOBACCO - The Chilean unit of British American
Tobacco said on Tuesday it will close various plants in the South American
nation after Congress stiffened an anti-tobacco law. 
    French household appliances group Seb reached an agreement with funds
advised by Triton to purchase OBH Nordica group, a company operating in the
small domestic appliance (SDA) industry in Scandinavia. 

    The company reported June traffic figures showing passenger numbers at
Frankfurt airport rose 2.8 percent, while freight volumes fell 2.5 percent.
    The solar company said on Thursday it has raised its 2015 sales and profit
    United Internet said it was acquiring Polish webhosting firm for 135
million euros in cash and considering an IPO in its applications segment.
    0600    DE    Wholesale Price Index
    0645    FR    Current account, Industrial output
    0800    IT    Industrial output
    0830    GB    Construction data, Trade balance
    1230    CA    Employment data
    1500    US    Wholesale Inventories, Sales
    1530    US    ECRI Weekly index
                                           LAST  PCT CHG   NET CHG
 S&P 500                               2,051.31   0.23 %      4.63
 NIKKEI                                19735.83   -0.6 %   -119.67
 MSCI ASIA EX-JP                         457.82    1.2 %      5.41
 EUR/USD                                 1.1098   0.56 %    0.0062
 USD/JPY                                 121.79   0.38 %    0.4600
 10-YR US TSY YLD                         2.345       --      0.04
 10-YR BUND YLD                           0.739       --      0.01
 SPOT GOLD                            $1,161.07   0.17 %     $1.92
 US CRUDE                                $53.34   1.06 %      0.56
  > Asian shares ride China bounce, euro up on Greek hopes        
  > US STOCKS-China relief fuels Wall St gains; Apple drops            
  > Nikkei rises and market stabilises, but Fast Retailing caps gains    
  > TREASURIES-Prices drop as China, U.S. stocks rally            
  > FOREX-Signs of Greek progress lift euro, yen sags             
  > PRECIOUS-Gold clings above 4-month low on euro                
  > METALS-London copper volatile amid Greece, China relief         
  > Oil prices rise on China stocks rebound, Greek deal hopes        

 (Reporting by Alistair Smout)