23 de septiembre de 2014 / 5:38 / en 3 años

Europe Factors to Watch-Shares set to halt pullback after Chinese data

PARIS, Sept 23 (Reuters) - European stocks were set to open mixed on
Tuesday, halting the previous session's pull-back after data showed China's
manufacturing sector unexpectedly picked up some momentum, beating the market's
bleak expectations.
    At 0610 GMT, futures for Euro STOXX 50, for UK's FTSE 100,
for Germany's DAX and for France's CAC were down 0.1 percent to
up 0.1 percent.
    China's HSBC flash reading on manufacturing (PMI) for September rose to
50.5, from 50.2 in August and confounding forecasts for a dip to 50.0.
. 
    "There was some nervous trading going into this reading after a string of
disappointing data out of China recently," IG market strategist Stan Shamu wrote
in a note.
    "With rumours that China is conceding defeat and will officially lower its
growth target, along with speculation there won't be further China stimulus, it
was crucial for today's reading to show some positive signs."
    However, Tuesday's Chinese PMI showed a measure of employment shed more than
a point to drop to 46.9, its lowest since February 2009 during the global
financial crisis, when a collapse in exports threw tens of millions of Chinese
out of work
    European shares sank on Monday, led lower by mining heavyweights such as Rio
Tinto and BHP Billiton, as concern over the pace of growth in
China knocked down commodity prices.
    Tuesday's focus will also be on manufacturing data for Germany, France and
the euro zone.
    The banking sector will be in the spotlight after Raiffeisen Bank
International warned that hits from Ukraine and Hungary will likely
push the Austrian lender to its first-ever annual loss in 2014. 
        
    Europe bourses in 2014: (link.reuters.com/pad95v)
    Asset performance in 2014: (link.reuters.com/rav46v)
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  MARKET SNAPSHOT AT 0620 GMT:    
    
                                         LAST   PCT CHG  NET CHG
 S&P 500                             1,994.29    -0.8 %   -16.11
 MSCI ASIA EX-JP                       487.69    0.16 %     0.77
 EUR/USD                               1.2848   -0.01 %  -0.0001
 USD/JPY                               108.71   -0.12 %  -0.1300
 10-YR US TSY YLD                       2.566        --     0.00
 10-YR BUND YLD                         1.013        --    -0.01
 SPOT GOLD                          $1,216.80    0.17 %    $2.11
 US CRUDE                              $91.24    0.41 %     0.37
                                                                
 
  > GLOBAL MARKETS-ASIA RELIEVED AS CHINA PMI BEATS LOW EXPECTATIONS 
  > US STOCKS-HOUSING DATA HITS WALL ST; S&P HAS WORST DAY SINCE AUG 5 
  > TREASURIES-BOND YIELDS DIP ON EXPECTATION OF DOVISH FED, WEAK DATA 
  > FOREX-DOLLAR RALLY PAUSES; AUSSIE EDGES UP AFTER FLASH CHINA PMI 
  > PRECIOUS-GOLD STRUGGLES NEAR 8-1/2-MONTH LOWS ON FUND OUTFLOWS 
  > METALS-COPPER BOUNCES FROM 3-MTH LOW AFTER CHINA FLASH PMI DATA 
  > BRENT CLIMBS ABOVE $97 AFTER UPBEAT CHINA PMI 
    
    COMPANY NEWS:
    
    RAIFFEISEN BANK INTERNATIONAL 
    Hits from Ukraine and Hungary will likely push Austrian lender to its
first-ever annual loss in 2014, it said late on Monday. 
    
    SACYR, REPSOL 
    Spanish builder Sacyr is looking at selling part of its Repsol stake before
the end of the year to pay down more than 10 percent of its 2.3 billion euro
debt pile, Expansion reported citing financial sources.
    
    MICHELIN 
    French tyre maker Michelin may miss its goal for an improvement in
sales volume of 3 percent this year amid weak European and emerging markets,
Finance Chief Marc Henry told Les Echos daily. 
    
    SANTANDER, UNICREDIT 
    Spanish bank Santander has emerged as the frontrunner to buy a stake of up
to 50 percent in Italian bank Unicredit's asset management division Pioneer,
sources close to the matter told Reuters on Monday. 
    
    AIR FRANCE 
    A bitter Air France labour dispute deepened on Monday as management pledged
to press ahead with its low-cost airline ambitions and pilots said that an eight
day-old strike over the proposals would continue indefinitely as a result.
 
        
    BNP PARIBAS 
    BNP Paribas SA's board will decide on the departure and the successor of its
chairman Baudouin Prot this week, French daily newspaper Le Figaro reported on
Monday. 
    
    TELEFONICA 
    Mexico has received its first bid from a consortium to build a $10 billion
state-owned mobile network. If successful, the state-owned network would help
No. 2 mobile carrier Telefonica and third-ranked Iusacell to compete with Carlos
Slim's America Movil by giving them better coverage without having to bear the
cost of building the network. 
        
    REXEL 
    Rexel's top shareholder, Ray Investment, said on Tuesday it had
sold its remaining 7.13 percent stake in the electrical equipment supplier at
15.35 euros per share. 
    
    POPULAR 
    Spanish lender Banco Popular said on Monday it had signed a definitive
agreement to buy Citi's retail banking and credit card business in Spain
for 238.5 million euros. 
        
    EDF 
    European Union state aid regulators will clear Britain's proposal to build a
16 billion pound nuclear plant with French utility EDF, a European Commission
official said on Monday.
 
        
    TOTAL 
    French oil major Total has been made a formal offer by mid-sized French
refiner Rubis to buy its stake in the SARA refinery in the French
Caribbean island of Martinique. 
    
    CREDIT AGRICOLE 
    French bank Credit Agricole said on Monday it had acquired 1.5 percent of
Italian banking group Cassa di Risparmio di Parma e Piacenza SpA (Cariparma),
bringing its total ownership stake in the group to 76.5 percent. 
    
    STANDARD CHARTERED 
    Standard Chartered is in advanced talks to sell its Hong Kong consumer
finance business to finance firm Pepper Australia Pty Ltd in a deal that could
fetch between $500 million to $700 million, people familiar with the deal said.
 
    
    BARCLAYS PLC 
    Britain's financial watchdog will fine Barclays 38 million pounds ($62.16
million) for failing to ensure that customer money was properly safeguarded and
adequate records kept, said a source familiar with the situation.
 
    
    ROYAL BANK OF SCOTLAND GROUP PLC 
    A U.S. appeals court on Monday revived lawsuits against RBS's National
Westminster Bank by about 200 victims of attacks in Israel attributed to Hamas
who are seeking to hold the bank liable for handling transactions linked to the
group. 
    
    BHP BILLITON 
    BHP Billiton and Mitsubishi will cut about 700 jobs at coal mines
they operate jointly in Australia, with the two companies citing over-staffing
in tough market conditions threatening the viability of the business.
 
    
    DIXONS CARPHONE PLC 
    Dixons Carphone plans to make a statement on Tuesday that it is still
interested in acquiring between 50 and 100 shops from Phones 4u's, according to
sources close to the matter.

 (Reporting by Blaise Robinson; Editing by Francesco Canepa)

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