LONDON, Nov 27 (Reuters) - European stocks were set to edge lower on Friday and fall away from three month highs hit in the previous session after data showed fresh signs of weakness in China.
Futures on the Euro STOXX 50, Germany’s DAX, France’s CAC and Britain’s FTSE fell 0.3-0.6 percent ahead of the market open.
The pan-European FTSEurofirst 300 index closed up 0.9 percent at 1,516.25 points on Thursday, its highest closing level since August.
Asian shares fell on Friday, with Chinese shares slumping after a fresh regulatory crackdown and data which showed a fifth straight month of falling industrial profit.
“The big drop in Chinese industrial profits... (appears) to have set off a wave of selling in equity markets across Asia,” Angus Nicholson, market analyst at IG, said in a note.
U.S. markets were shut on Thursday, and were set to be closed for most of Friday afternoon.
The retail sector might be in focus as European retailers, especially in Britain, offer “Black Friday” deals, with the a spending frenzy expected to top last year’s record level.
Italy’s antitrust authority has opened an investigtation into four cement makers, including Holcim Italia, for alleged price fixing and, with the tax police, has searched the offices of the companies, it said in a statement on Thursday.
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Telecoms group Altice has won exclusive French broadcasting rights for English soccer’s Premier League for the next three seasons, dealing a blow to current broadcaster Canal Plus, owned by rival media group Vivendi.
Iliad placed a 650 million euro bond.
Dassault Aviation may manufacture Rafale fighter aircraft in India, the Economic Times reported.
German drugs and chemicals maker Merck KGaA is planning to sell its allergy business, Allergopharma, Bloomberg reported, citing sources.
The Paris terror attacks and geopolitical tensions were adding uncertainty to the investment environment but private consumption, on which the EU’s economy depends, has remained robust so far, Siemens CEO Joe Kaeser told Handelsblatt newspaper in an interview.
German Transport Minister Alexander Dobrindt renewed a call for a quick resolution of Volkswagen’s emissions scandal, saying no stone may remain unturned, according to newspaper Passauer Neue Presse.
ABENGOA Abengoa is due to be removed from the Ibex index of companies on Friday after it said it was starting insolvency proceedings.
Ratings agency Moody’s downgraded Abengoa from B3 to CAA2 on Thursday, while Standard & Poor’s cut its rating for the company from B+ to CCC-.
Spain’s government will not consider stepping in to rescue Abengoa until there is more clarity over the company’s accounts and its viability, El Mundo newspaper reported on Friday, citing sources.
Abengoa’s bank lenders are considering whether or not to write off some of its debt to try and save the company, El Economista reported on Friday, without citing sources.
SACYR The expansion of the Panama canal could face a new delay due to cracks that emerged a few months ago in one of the locks, a spokesman for the waterway’s authority said on Thursday.
UNILEVER - Consumer goods maker Unilever said it would switch to using only renewable energy by 2030 and would stop using energy from coal by 2020, as businesses jostle to highlight their green credentials ahead of a global climate summit.
* ROYAL DUTCH SHELL - Brazilian energy and transportation group Cosan SA Industria e Comercio has no plans to part ways with Royal Dutch Shell on their Raízen joint venture, the world’s largest cane processor, Cosan Chairman Rubens Ometto said on Thursday.
Rio Tinto gave the go-ahead on Friday to expand its bauxite output in northern Australia with a $1.9 billion project, approving a major mine at a time when most miners worldwide are slashing spending.
Illegal levels of arsenic and mercury polluted the Rio Doce river in the days after a dam burst at an iron ore mine in early November in Brazil’s worst-ever environmental disaster, according to tests by a state water agency.
Royal Bank of Scotland Group plc said it will book a loss of around 265 million pounds ($400 million) after completing a tender for certain U.S. dollar, Sterling and Euro senior debt securities as it seeks to trim its long-term interest expenses.
0700 DE Import prices
0700 GB Nationwide house prices
0745 FR Consumer spending
0900 IT Business, Consumer confidence
0930 GB GDP 2nd release, business investment
1000 EZ Business climate, economic sentiment
1200 DE Gfk Consumer Sentiment
------------------------------------------------------------------------------ > GLOBAL MARKETS-Asia shares fall, ECB stimulus bets subdue euro > Nikkei edges down, flat for the week; charts signal vulnerability > FOREX-Dollar subdued in post-holiday trade, euro under pressure > PRECIOUS-Gold poised for 6th straight weekly drop > METALS-Aluminium and nickel eye big weekly gains > Oil prices drop on China data, firmer dollar (Reporting by Alistair Smout)