European Factors to Watch-Shares seen edging higher, focus on earnings

jueves 5 de noviembre de 2015 03:53 GYT
 

(Adds company news, updates futures prices)
    LONDON, Nov 5 (Reuters) - European shares headed for a slightly higher open
on Thursday, extending the previous session's gains, with strong earnings
reports from companies such as Adidas and Societe Generale 
seen supporting the market.
    German sportswear company Adidas raised its outlook for full-year sales and
profits after reporting better-than-expected results for the third quarter,
French bank Societe Generale saw its third-quarter income rise 2.4 percent and
Credit Agricole reported its highest quarterly net profit in more than four
years.   
    The third quarter earnings season has gathered pace in Europe. About 60
percent companies have reported their results so far, of which 50 percent have
met or beaten analysts' earnings forecasts. On the revenue front, 46 percent
companies have achieved or surpassed expectations.
    Futures for the Euro STOXX 50, Germany's DAX, France's CAC
 and Britain's FTSE were up 0.1 to 0.4 percent by 0752 GMT. 
    The FTSEurofirst 300 index of top European shares closed off its
intra-day highs in the previous session after Federal Reserve Chair Janet Yellen
said a rate hike in December was a live possibility. The index ended 0.5 percent
higher.
    "The Fed reaffirmed its rate hike intentions. However, traders aren't too
shaken as they pin their hopes on (ECB President) Mario Draghi keeping dovish
hopes," London Capital Group said in a note.
    Draghi said earlier this week that the European Central Bank's policymakers
will review the degree of monetary stimulus they have deployed when they meet in
December and remain willing and able to act if needed.
    
    COMPANY NEWS:
    EDF 
    France's EDF said sales over the first nine months of 2015 rose 2.8 percent
to 53.8 billion euros as positive weather effects offset an unfavourable market
environment. 
    
    ENGIE 
    The French energy company said it would book an asset writedown in the
fourth quarter but confirmed its 2015 guidance. 
    
    CREDIT AGRICOLE 
    Credit Agricole SA reported its highest quarterly net profit in more than
four years as France's biggest retail lender benefited from consumer demand
growth and strength in insurance. 
    The French bank said the board of directors had elected Dominique Lefebvre
as chairman of Crédit agricole S.A. replacing Jean-Marie Sander. Lefebre also
chairs the SAS Rue La Boetie, the majority shareholder of Crédit Agricole S.A.
 
    
    BRENNTAG 
    The world's largest chemicals distributor cut its 2015 core profit guidance
on weak demand from customers in the U.S. oil and gas industry, saying the $440
million acquisition of two U.S. lubricants distributors would make its business
less cyclical. 
    
    ADIDAS 
    German sportswear company Adidas raised its outlook for full-year sales and
profits on Thursday after it reported better-than-expected results for the third
quarter as its golf business recovered from a recent slump. 
    
    ADECCO 
    The world's biggest staffing group posted a surprise half-billion euro net
loss in the third quarter due to a 740 million euro ($804.53 million) impairment
of goodwill after regulatory changes in Germany and a weaker macroeconomic
outlook in certain markets, the group said. 
    
    SOCIETE GENERALE 
    The French bank saw its third-quarter income rise 2.4 percent as growth at
its retail network and lower risk provisions helped offset weakness in
investment banking. 
    
    AIRBUS GROUP 
    France on Wednesday said Airbus had won orders from two Korean airlines,
which at listed prices are worth some $6.8 billion. 
    
    ASTRAZENECA 
    Drugmaker AstraZeneca lifted its full-year forecast for revenue and earnings
on Thursday, after reporting third-quarter results broadly in line with analyst
expectations. 
    
    WM MORRISON 
    Morrisons, Britain's No. 4 supermarket group, reported another fall in
quarterly underlying sales, hurt by the deflating effect of its own price cuts.
 
    
    SCHRODERS 
    British fund manager Schroders said on Thursday that assets under management
had fallen 4.9 percent in the three months to the end of September, hit by weak
investment returns. 
    
    RSA 
    British insurer RSA's underlying premium income rose by 1 percent in
the first nine months of 2015, it said on Thursday, calling Zurich Insurance's
 abandoned bid for the company a "distraction" in the third quarter.
 
    
    RIO TINTO 
    Rio Tinto said on Thursday it expects to see strong growth in iron ore
demand in countries outside of China as the global seaborne market expands.
 
    
    ALSTOM 
    The French engineering group said on Wednesday it would launch a share
buy-back program worth 3.2 billion euros on Dec. 23, two days after completing
the sale of its energy business to U.S. General Electric.
 
    ROCHE 
    The drugmaker is planning launches or pivotal data for up to eight new
medicines in the next three years as it seeks to fend off competition from
copycat versions of its older drugs. 
    
    GENERALI 
    Italian insurer Generali said its third-quarter net profit fell 18.2 percent
as market volatility prompted it to forego the sale of some securities, but it
still expected 2015 earnings to be well above last year's. 
    
    NATIXIS 
    The French investment bank Natixis announced plans to acquire Spanish
financial advisory firm 360 Corporate Finance on Wednesday as part of a plan to
grow by focusing on businesses with low capital consumption.
    The group also reported a 1 percent decline in quarterly net profit, weighed
down by weakness in fixed-income trading due to low client activity in the third
quarter. 
   
    ZURICH INSURANCE GROUP 
    The company said it expected to meet its financial targets after posting a
79 percent year-on-year drop in third-quarter net profit. 
    
    UBISOFT 
    The French video games maker confirmed its annual profit and sales targets
after reporting softer quarterly results hurt by fewer new game launches with
key titles coming out later this year. 
    
    DEUTSCHE BANK 
    The lender will pay a $258 million penalty to settle charges that it did
business on behalf of entities in U.S.-sanctioned countries like Iran and Syria,
the New York Department of Financial Services (NYDFS) and Federal Reserve said
on Wednesday. 
    
    DEUTSCHE TELEKOM 
    Deutsche Telekom's German mobile service revenue slid 0.4 percent in the
third quarter, continuing a slowdown that took hold in the second quarter, when
they were flat. 
        
    HEIDELBERGCEMENT 
    The cement maker lowered its sales outlook for the current year, pointing to
weakening cement demand in Eastern Europe, Central Asia and Russia, where
investments fell. 
    
    VOLKSWAGEN 
    Moody's downgraded the carmaker's ratings and said admissions of false CO2
output levels may impact future earnings. 
    Germany is to retest all Volkswagen car models to gauge their genuine
emissions levels after new revelations from the carmaker six weeks into its
biggest-ever corporate scandal pushed the government to act. 
    
    SWISSCOM 
    The company kept its outlook for the full year despite third-quarter profit
that missed market expectations amid price reductions for roaming fees, fallout
from the strong Swiss franc and more intense competition. 
    
    BRENNTAG 
    The world's largest chemicals distributor cut its full-year core profit
guidance on Thursday, citing difficult macroeconomic conditions. 
    Separately, the company said it was buying two leading U.S. distributors,
J.A.M. Distributing Company and G.H. Berlin-Windward. 
   
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 MARKET SNAPSHOT AT 0633 GMT: 
                                              LAST   PCT CHG     NET CHG
 S&P 500                                  2,102.31   -0.35 %       -7.48
 NIKKEI                                   19116.41       1 %       189.5
 MSCI ASIA EX-JP                            428.06   -0.46 %       -1.98
 EUR/USD                                    1.0863    0.01 %      0.0001
 USD/JPY                                    121.49   -0.03 %     -0.0400
 10-YR US TSY YLD                            2.223        --       -0.01
 10-YR BUND YLD                              0.599        --        0.00
 SPOT GOLD                               $1,109.16    0.19 %       $2.10
 US CRUDE                                   $46.38    0.13 %        0.06
  > Asian stocks falter as Fed signals a December rate rise 
  > Wall St ends down after energy slide, Yellen comments 
  > Nikkei closes near 10-week high on weak yen, corporate earnings 
  > Two-year yields spike after Fed's Yellen hints at Dec rate hike 
  > Dollar off highs amid caution ahead of U.S. payrolls report 
  > Gold near 1-month low as Yellen signals December rate hike 
  > London copper steady as U.S. economic prospects brighten 
  > Crude futures edge up, but U.S. inventory build drags 

 (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)