(Adds futures prices)
MILAN, Feb 15 (Reuters) - European shares were set to open sharply higher on Monday, following gains in Asia where a firmer Chinese currency helped ease devaluation concerns.
By 0711 GMT, futures prices for Europe's Eurostoxx 50, Germany's DAX, France's CAC and Britain's FTSE indexes were all up by between 1.7 percent and 2.5 percent.
Asian shares bounced to snap a five-session losing streak on Monday as a strong fix for China's yuan eased devaluation concerns and Shanghai stocks returned from the Lunar New Year holidays with only modest losses.
"There seems to be a calming of nerves and a slight change in the atmosphere surrounding those active in financial markets," said IG chief market strategist Chris Weston in a note.
On Friday, European shares rebounded as Deutsche Bank and Commerzbank rallied, helping stock markets stage a partial recovery from stinging losses earlier in the week.
Germany wants to carry out unannounced emissions tests on all carmakers, Transport Minister Alexander Dobrindt said on Sunday, aiming to reinstate confidence in the industry that was shattered by the Volkswagen cheating scandal.
A high-ranking employee warned senior Volkswagen managers in May 2014 that U.S. regulators might examine car engine software as part of an investigation into pollution levels, two sources familiar with the matter said on Sunday.
Kapsch has challenged the decision of the German government to award the Daimler/D.Telekom Toll Collect consortium a contract for collecting fees on federal highways, Handelsblatt reported on Monday.
Moodys has placed E.ON's Baa1 and RWE's Baa2/P-2 ratings under review for downgrade. It confirmed EnBW's A3/P-2 rating, with a negative outlook.
German utilitis will be responsible for the full cost of dismantling Germany's nuclear power plants, the chairman of a commission looking at how to safeguard funds to pay for the country's nuclear withdrawal told Rheinische Post.
The publisher scrapped plans to change its legal status to KGaA, which would have allowed it to take on new investors with little influence while keeping majority owner Friede Springer and her family in full control.
The French utility has not put the investment decision for its plan to build two nuclear reactors in Hinkley Point, Britain, on the agenda for its board meeting on Monday, a source familiar with the situation told Reuters.
Le Figaro newspaper said EDF would report that net income fell below 2 billion euros last year from 3.7 billion in 2014. This compares with the Thomson Reuters I/B/E/S poll average of 3.98 billion. The paper said the state might accept to receive its dividend in shares instead of cash, as EDF looks for ways to boost its balance sheet without a capital increase.
The French retailer has had its offices searched as part of an investigation into its commercial practices, the company said on Sunday, two days after the government warned companies against squeezing further price cuts from farmers.
A deal for French telecoms group Orange to take over its rival Bouygues is imminent and a preliminary agreement could be presented on Tuesday when Orange publishes its 2015 earnings, French weekly le Journal du Dimanche (JDD) reported.
Moody's has placed on review for downgrade the A1 issuer and senior unsecured ratings, (P)A2 subordinated rating and the A3 junior subordinated debt ratings of Engie, reflecting limited financial flexibility and exposure to a weakening commodity and power price environment. bit.ly/1PyAD1H
Vice-Chairman Richard Thornburgh will not stand for re-election to the bank's board, Swiss newspaper Sonntagszeitung reported.
Some of Credit Suisse's biggest shareholders, Qatar Investment Authority and Olayan Financing Company, are investing heavily in contingent convertible bonds (CoCos) issued by the bank, a former trader wrote in a column published by Swiss newspaper Sonntagszeitung.
For more click on
Chairman Tom de Swaan expects consolidation in the insurance industry to pick up over the next few years, Swiss newspaper Schweiz am Sonntag reported.
For more click on
Global banking giant HSBC Holdings has decided to keep its headquarters in Britain, rejecting the option of shifting its center of gravity back to its main profit-generating hub Hong Kong after a thorough 10-month review.
British luxury fashion brand Burberry is to face a class action lawsuit in the United States, claiming it used misleading price tags at its outlet stores to fool shoppers into believing the goods were being sold at a hefty discount.
British green energy suppliers Ecotricity and Good Energy said they will reduce retail gas bills by around 7 percent from April 1, making steeper cuts than their larger rivals.
UK's four biggest banks, Lloyds Banking Group Plc, Royal Bank of Scotland Group Plc, Barclays Plc and HSBC Holdings Plc will payout almost 5 billion pounds ($7.3 billion)worth of bonus in the next few weeks, Sky News reported. (bit.ly/1V9p2I3)
American and British regulators are likely to charge several banks with rigging interest rates, including Citigroup, the third-largest U.S. bank, and London-based HSBC Holdings, the Wall Street Journal reported.
Australia's Broadspectrum Ltd, which runs the country's offshore immigration detention camps, said first half net profit tripled, upgraded its earnings guidance and announced a share buyback as it fends off a takeover bid from Spain's Ferrovial.
Ence said on Friday Q4 adjusted EBITDA was 58.5 million euros versus 18.2 million euros year ago.
The Italian eyewear group could be interested in German group Carl Zeiss, Il Sole 24 Ore wrote on Sunday citing rumours.
The president of the Italian Banking Association, Antonio Patuelli, told la Repubblica newspaper on Sunday that new EU rules on the so-called bail-in of bank creditors are "unjust" and should be suspended immediately.
Italian government faces criticism over plans to reform non-profit banking cooperatives (BCCs), several newspapers reported at the weekend. The reform calls for the creation of a single joint-stock parent company, but the bigger BCCs can maintain their independence paying a 20 percent tax on assets. Some BCCs say the move is unconstitutional. Political left bemoan unravelling of decades-old co-ops.
------------------------------------------------------------------------------ > Asia shares mostly firm, China sets yuan higher > Wall St rallies;, S&P 500 snaps 5-day losing streak > Tokyo's Nikkei share average closes up 7.16 pct > Bond yields rise on upbeat U.S. retail sales data > Dollar lifted by Japan PM, improved sentiment > Gold drops 1 pct on China return, rebound in stocks > London copper, nickel rally as China reopens > Oil inches down, weak China trade data drags (Reporting by Danilo Masoni)