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