European Factors to Watch-Shares seen up for 4th straight day

miércoles 7 de octubre de 2015 02:49 GYT
 

(Adds futures prices, company news)
    LONDON, Oct 7 (Reuters) - European shares were expected to rise for a fourth
straight session on Wednesday, with investors seen focusing on merger and
acquisition activities and commodities stocks.
    Brewer Anheuser-Busch InBev raised its offer to buy the world's No.
2 brewer SABMiller to 42.15 pounds per share in cash. AB InBev said the
revised proposal should be highly attractive to SABMiller shareholders and
provided an extremely compelling opportunity for them. 
    Mining and energy shares are likely to get some support from commodity
prices. Crude oil rose after breaking out of a month-long trading range
on a forecast suggesting a global glut in supply may be easing, while copper
 gained after an industry group revised its expectations from a surplus
next year to a small deficit.
    Futures for the Euro STOXX 50, Gemany's DAX, France's CAC
 and Britain's FTSE were up 0.2 to 0.4 percent by 0633 GMT.
    The FTSEurofirst 300 index of top European shares advanced for a
third straight session to a two-week high on Tuesday, with the index closing 0.7
percent higher at 1,422.12 points.
    U.S. stocks fell on Tuesday, ending a five-day winning streak, as investors
focused on upcoming quarterly reports that are expected to reflect a dip in
corporate earnings.
    A Reuters poll of around 30 traders, fund managers and strategists,
published on Tuesday, showed that European stock markets will rise from now
until the end of 2015, although will remain below peak levels reached earlier in
the year. 
    
    COMPANY NEWS
    SABMILLER, ANHEUSER-BUSCH INBEV 
    Brewer Anheuser-Busch InBev raised its offer to buy the world's No. 2 brewer
SABMiller to 42.15 pounds per share in cash. AB InBev said the revised proposal
should be highly attractive to SABMiller shareholders and provided an extremely
compelling opportunity for them. 
    
    VOLKSWAGEN 
    Chief Executive Matthias Mueller said in an interview with a German
newspaper that the company would launch a recall for cars affected by its diesel
emissions crisis in January and complete the fix by the end of next year.
 
    Separately, Wednesday is the deadline for Volkswagen to tell German
authorities what its plan for refitting diesel cars is.
    Also, sources have said Volkswagen's supervisory board will meet on
Wednesday to appoint CFO Hans Dieter Poetsch as Chairman of the 20-member panel
and discuss the latest findings of VW's internal investigation. 
    
    TESCO 
    Britain's biggest supermarket Tesco on Wednesday posted a 55 percent slump
in first-half profit, showing the scale of the financial damage wrought by
discount groups and raising questions over boss Dave Lewis' turnaround plan.
 
    Tesco has held talks with the Serious Fraud Office (SFO) over a deal to
settle a criminal investigation into its accounting errors, Sky News reported on
Tuesday. 
    
    KLOECKNER & CO 
    German steel distributor Kloeckner & Co said on Tuesday it would not meet
its third-quarter target, citing poor market conditions due to prices falling
further and weak demand for steel and metal products. 
    
    ROLLS-ROYCE 
    Rolls-Royce plans to introduce more competition into the engine overhaul
network for its Trent engines that power wide-body airliners, a senior executive
said.
    
    ANTOFAGASTA 
    Chilean copper mining company Antofagasta Minerals, the operational division
of Antofagasta, said on Tuesday it was reducing its workforce by around 7
percent in order to cut costs, the latest victim of the recent rout in the
copper market. 
   
    AIR FRANCE 
    Air France will cut a further 5,000 jobs if a second phase of its
cost-cutting plan goes ahead, on top of an already announced plan to cut 2,900
jobs, two union sources told Reuters on Tuesday, although the French company
denied these figures. 
    
    ALCATEL-LUCENT 
    Alcatel-Lucent said on Tuesday it will not sell its undersea cables unit,
meaning the strategic business which underpins the global Internet will be taken
by Nokia once it completes its acquisition of the Franco-American group.
 
    
    E.ON 
    Russian billionaire Mikhail Fridman's LetterOne fund has emerged as the
frontrunner for the acquisition of E.ON's Norwegian North Sea assets, three
industry and banking sources said on Tuesday. 
    
    AIRBUS 
    Airbus on Tuesday called off talks with Bombardier over
propping up the troubled CSeries jet, leaving the Canadian plane maker facing
dwindling options to keep alive its dream of competing in the aerospace big
league. 
    
    KLOECKNER & CO 
    The German steel distributor said on Tuesday it would not meet its
third-quarter target, citing poor market conditions due to prices falling
further and weak demand for steel and metal products. 
  
    AREVA, EDF 
    The French government wants utility EDF and nuclear group Areva, both
state-owned, to keep a combined 66 percent stake in Areva's former reactor
building arm Areva NP, a government source told Reuters on Tuesday.
 
    
    STATOIL 
    The Norwegian oil major plans to increase its dividend over time despite
weak crude prices, Chief Executive Eldar Saetre told financial daily Dagens
Naeringsliv.  
    
    SWISSCOM 
    A Swiss court has upheld a 2009 ruling against Swisscom by Switzerland's
competition commission for anti-competitive behaviour in its broadband internet
business, but has reduced the size of the fine. 
    
    PSA PEUGEOT-CITROEN, RENAULT 
    Several amendments to France's 2016 budget aiming to raise taxes on diesel
have been introduced by MPs, French daily Les Echos said in its Wednesday
edition. These amendments may not be adopted by lawmakers.
    
    BANCO POPOLARE, UBI, POPOLARE DI MILANO,
POPOLARE DELL'EMILIA ROMAGNA, CREDITO VALTELLINESE, POPOLARE
DI SONDRIO  
    Regional administrative court may rule on possible de-facto suspension of
government reform forcing the country's 10 biggest mutual banks to convert into
joint stock companies.
    
    GAMESA 
    Gamesa said it has won a contract to supply 98 wind turbines with a total
generating capacity of 196 megawatts in Brazil. 
    
    BBVA, SANTANDER  
    Standard & Poor's raised the long-term issue ratings for Santander and BBVA
on Tuesday to A- and BBB+ respectively, with a stable outlook on both. 
    
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  MARKET SNAPSHOT AT 0525 GMT: 
                                           LAST      PCT CHG      NET CHG
 S&P 500                               1,979.92      -0.36 %        -7.13
 NIKKEI                                18299.19       0.62 %       113.09
 MSCI ASIA EX-JP                         414.71       1.39 %          5.7
 EUR/USD                                 1.1263      -0.04 %      -0.0005
 USD/JPY                                 120.05      -0.15 %      -0.1800
 10-YR US TSY YLD                         2.056           --         0.02
 10-YR BUND YLD                           0.592           --        -0.01
 SPOT GOLD                            $1,148.42       0.15 %        $1.72
 US CRUDE                                $49.34       1.67 %         0.81
  > Asian shares firm on resurgent oil, Nikkei falls on BOJ 
  > Wall St dips as third-quarter earnings season kicks off 
  > Nikkei extends losses after BOJ stands pat on policy 
  > U.S. bond prices rise on growth worries 
  > Yen rebounds modestly after BOJ stands pat on monetary policy 
  > Gold inches higher on expectations of U.S. rate hike delay 
  > London copper flat as end to China holiday approaches 
  > Crude oil futures push higher after range breakout 
    

 (Reporting by Atul Prakash)