European Factors to Watch-Shares seen steadying after Wall Street gains
LONDON, Oct 6 (Reuters) - European stocks were seen steadying on Tuesday, set to edge slightly higher after gains in Asian and U.S. shares as investors bet that the U.S. Federal Reserve would delay an interest rate rise into next year. Asian stocks hit a two week high, while on Wall Street, the S&P 500 rose for a fifth straight day. Investors bet that the Fed would not raise rates this year, a view supported by weak jobs data out last week. Futures on the Euro STOXX 50, Gemany's DAX, France's CAC and Britain's FTSE were up 0.1-0.2 percent ahead of the cash market open. European shares closed higher on Monday, with the pan-European FTSEurofirst 300 up 3 percent to 1,412.97. Weak data in Europe reinforced the view that monetary policy would remain loose in Europe. On Tuesday, data showed that German industrial orders dropped unexpectedly in August, due mainly to weaker demand from non-euro zone countries plus the effect of holidays, the economy ministry said on Tuesday. While the FTSEurofirst 300 initially fell after a disappointing U.S. non-farm payrolls report last Friday, it has recovered since. It is set to gain for its third straight session on Tuesday, supported by an environment of low interest rates. "The weak US payrolls report reinforced our view of more ECB easing to come before year-end," strategists at BNP Paribas said in a note, adding that a speech by European Central Bank President Mario Draghi later in the session my provide clues as to the ECB's next move. "Mario Draghi's speech on Tuesday will be scrutinised for any potential signals." MARKET SNAPSHOT AT 0542 GMT LAST PCT CHG NET CHG S&P 500 1,987.05 1.83 % 35.69 NIKKEI 18,173.62 0.93 % 168.13 EUR/USD 1.1184 -0.01 % -0.0001 USD/JPY 120.43 -0.02 % -0.0200 10-YR US TSY 2.042 -- -0.01 YLD 10-YR BUND YLD 0.566 -- 0.00 SPOT GOLD $1,135.91 0.03 % $0.31 US CRUDE $46.33 0.15 % 0.07 COMPANY NEWS: DEUTSCHE BANK, BARCLAYS, CREDIT SUISSE New York's banking regulator has questioned dozens of traders and executives at Credit Suisse, Barclays, Deutsche Bank and other banks about whether their electronic foreign exchange trading platforms were rigged, according to a person familiar with the matter. VOLKSWAGEN New CEO Matthias Mueller to address workers at a staff briefing at VW headquarters in Wolfsburg. Separately, a source told Reuters the carmaker has not found any evidence against three top engineers suspended as part of its internal investigation into the rigging of U.S. emissions tests. Also, Volkswagen has admitted that 8 million vehicles were fitted with software capable of cheating diesel emissions tests in the European Union, a German newspaper said on Monday, citing a letter the carmaker sent to members of parliament. AIRBUS The group faces a double test of confidence in the A380 superjumbo in the coming months as Singapore Airlines ponders whether to renew its first lease while the planemaker seeks to bolster new sales, a leading industry banker said. AIR FRANCE-KLM The group's Air France unit said it would seek to cancel five Boeing plane orders as part of a new cost-cutting drive. VIVENDI The French media group said it had bought additional shares in Telecom Italia on the market, taking its stake to 19.9 percent. BOUYGUES Bouygues Telecom, France's third-largest mobile operator, said it aimed to return to sustainable growth in sales and profit in the coming years by cutting costs and growing its fixed and mobile subscriber base. RENAULT A Renault board meeting on Tuesday will discuss the French carmaker's alliance with Japan's Nissan amid tensions with the French government over its increased stake in Renault, Le Figaro newspaper reported. ROCHE The drugmaker said final survival data from a Phase III clinical trial showed the Cotellic drug used in combination with Zelboraf helped people with previously untreated BRAF V600 mutation-positive advanced melanoma live significantly longer compared to Zelboraf alone. SAB MILLER : SABMiller, the brewing giant which is in talks about a potential takeover by rival Anheuser-Busch InBev, said growth accelerated in its second quarter with volumes up 2 percent. EASYJET : EasyJet reported higher passenger figures for September. UBS The U.S. state of Connecticut's highest court made it easier for private sector workers to bring whistleblower claims against their employers without fear of retaliation, ruling in a case brought by a former UBS real estate executive. FIAT CHRYSLER AUTOMOBILES The United Auto Workers and Fiat Chrysler Automobiles NV negotiators were back at the table on Monday days after U.S. union members soundly rejected a proposed four-year contract the two sides agreed on three weeks ago. The carmaker said on Monday it had announced leadership changes in support of changes at the Fiat Chrysler Automobiles N.V. Executive Council level. BILFINGER Property investor and developer Kiler has commissioned Bilfinger Real Estate to manage two shopping malls in Turkey. REPSOL Standard & Poor's revised the outlook for Repsol to "negative" and affirmed its corporate credit rating at "BBB-/A-3". MAJOR MACROECONOMIC DATA/EVENTS (GMT) : 0600 DE Industrial Orders 0700 GB Halifax house prices 0715 CH CPI 1230 CA Trade data 1230 US International trade 1255 US Redbook 1400 CA Ivey PMI ------------------------------------------------------------------------------ > GLOBAL MARKETS-Asian shares rise on fading Fed rate views > US STOCKS-Wall St rises as investors eye rate hike delay, oil up > Nikkei rises to 2-1/2-week high as fading US rate views buoy appetite > TREASURIES-U.S. bond prices fall as investors jump back to stocks > Dollar stands tall vs yen, Aussie gains after RBA holds rates steady > Gold near 1-week high as investors see Fed delaying rate hike > METALS-London copper flat; traders shrug off Glencore supply cut view > Crude prices steady in Asian trade, Russia mulls oil talks (Reporting by Alistair Smout)
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