April 6, 2016 / 5:21 AM / 2 years ago

European Factors to Watch-Shares seen opening higher, focus on energy

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report)

LONDON, April 6 (Reuters) - European equities were expected to gain in early trading on Wednesday after steep declines in the previous session, with a bounce back in crude oil prices seen supporting energy stocks.

Crude oil futures jumped as hopes for an agreement among exporters to freeze output underpinned the market, although a persistent global oversupply and Iran’s plans to boost production pressured physical oil prices.

Futures for the Euro STOXX 50, Germany’s DAX , France’s CAC and Britain’s FTSE were 0.1 to 0.4 percent higher.

European shares fell on Tuesday to touch their lowest level in almost six weeks, with mining, autos and banking stocks leading the decline after industrial orders in Germany unexpectedly dropped. The pan-European FTSEurofirst 300 index fell 1.9 percent to its lowest level since Feb. 25.

Mining shares will also be in focus after activity in the service sector of China, the world’s biggest metals consumer, strengthened in March, but employment fell for the first time in over 2.5 years, sending mixed signals.

In signs of improvement on the macroeconomic front, German industrial output fell less than expected in February after jumping in January, in a sign that the sector is likely to give Europe’s largest economy a modest push in the first quarter of 2016.


The company said it expected its business to improve later in the year, after the introduction of its new E-Class model, strong demand for compact and locally made cars in China and weak truck markets weighed on earnings in the first quarter.


Swedish fashion retailer Hennes & Mauritz posted a fiscal first-quarter pretax profit which was down almost as much as the market expected, while preliminary March sales grew 2 percent in local currencies.


Miner and commodity trader Glencore is in advanced talks to sell a stake in its agricultural business to Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal reported, citing people familiar with the matter.


Sueddeutsche Zeitung reported that environmental lobby group DUH has filed for an injunction against Daimler with a court in Stuttgart, claiming the carmaker provided customers with misleading information on emissions.


The cement firm announces a plan to integrate Italcementi which it said would affect around 400 of the company’s 2,500 jobs in Italy by 2020.


Recent glitches in the production of engine gearboxes for the A400M military transport aircraft will take several weeks or several months to resolve, the head of one of the engine consortium companies said on Tuesday.


The chief executive of Air France-KLM, Alexandre de Juniac, is stepping down to run the airline industry’s main trade group, the International Air Transport Association, it was announced on Tuesday.


Renault will apply measures to reduce the nitrogen oxide (NOx) emissions of its diesel-engined vehicles from July, the French carmaker said in a statement on Tuesday.


French state-controlled utility EDF will not delay its project to build nuclear reactors in Britain and its Chinese partner China General Nuclear (CGN) will share any risks related to it, EDF’s Chief Executive Officer told French parliament on Tuesday.


China’s Anbang Insurance Group said it was buying Allianz Life Insurance Korea and Allianz Global Investors Korea, confirming an earlier report that said Anbang had agreed to buy Allianz’s South Korean life insurance unit for about 250 billion won ($216.6 million).


Siemens does not rule out acquisitions in its Building Technologies business, the unit’s chief Matthias Rebellius told Handelsblatt in an interview. “But the question is how you can use size to generate added value for customers,” he said.


A court has dismissed a lawsuit that sought to blame Porsche AG for the crash that killed actor Paul Walker, Sky News reported.


Recent glitches in the production of engine gearboxes for the A400M military transport aircraft will take several weeks or several months to resolve, the head of one of the engine consortium companies said on Tuesday.


The British government opened talks on Tuesday with potential buyers for Tata Steel’s UK operations, including Sanjeev Gupta’s commodities company Liberty Group, as it stepped up its battle to find a buyer for the loss-making business.


Barclays has become the first big British bank to form a partnership with a digital currency firm, social payments app Circle, which runs partly on bitcoin’s blockchain network and launched in the UK on Wednesday.


The Swiss watchmaker said executives are retiring, including Stephen Urquhart as president of Omega, and Hanspeter Rentsch, who is exiting his post on the executive management board after 40 years with the company. Additionally, Daniela Aeschlimann-Schneider has been proposed for the watchmaker’s board of directors. For more click


The Swiss chocolate maker said net profit fell 18.5 percent to 107.9 million Swiss francs ($112.72 million), roughly in line with a Reuters poll that had forecast an 18.2 percent decline. The company confirmed its midterm targets.

ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.

If you have any thoughts, suggestions or feedback on this, please email mike.dolan@thomsonreuters.com.

Mike Dolan, Markets Editor EMEA. (Reporting by Atul Prakash)

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