(Updates futures prices, adds details)
LONDON, Dec 1 (Reuters) - European shares headed for a stronger start on the first trading day of the month, tracking sharp gains in Asian equities, with mining shares seen getting support from a rally in metals prices following a weaker dollar.
Futures for the Euro STOXX 50, Germany’s DAX, France’s CAC and Britain’s FTSE rose 0.2 to 0.8 percent by 0742 GMT.
Focus will be on commodities stocks after prices of key industrial metals rose due to a weaker dollar, making raw materials cheaper for holders of other currencies.
Investors will keep a close eye on automobile stocks after data showed new car registrations in France rose 11.3 percent last month.
Analysts said that the market was likely to shrug off Tuesday’s data showing activity in China’s manufacturing sector contracted more than expected in November.
The official Purchasing Managers’ Index (PMI) stood at 49.6 last month in November, compared with the previous month’s reading of 49.8 and below the 50-point mark that separates growth from contraction on a monthly basis.
Europe’s largest hotel group, AccorHotels ACCP.PA, said on Tuesday that it bought three hotel asset portfolios from European investors for 284 million euros ($300.6 million).
French new car registrations rose 11.3 percent in November for a 6.2 percent increase over the first 11 months of the year, the CCFA automobile association said.
Japanese carmaker Nissan is not planning to issue new stock, a spokesman for the Japanese carmaker said, denying a report by Japan’s Nikkei. He added that Renault’s alliance partner had “nothing more to announce” regarding the outcome of a board meeting the previous day.
Japan urged Nissan and Renault to continue their alliance amid speculation that the Japanese automaker may raise its stake in Renault to fend off French government moves to increase its control over the partnership.
The brewer’s bid to buy its biggest rival, SABMiller, will be the subject of a U.S. Senate hearing next week, the Senate Judiciary Committee said.
Sweden’s Electrolux on Monday forecast growing demand for home appliances on both sides of the North Atlantic next year and said low raw material costs were expected to continue offering a tailwind in 2016.
The industrial gases company cut its 2017 profit target, citing slower industrial production growth weighing on its industrial gases unit.
Snam SRG.MI has agreed to buy a 20 percent stake in the Trans Adriatic Pipeline (TAP) that will carry gas from Azerbaijan to Europe from Norway’s Statoil STL.OL, the Italian gas infrastructure company said on Tuesday.
The carmaker and the U.S. Justice Department want a U.S. judicial panel to centralize in Detroit hundreds of civil lawsuits alleging the German automaker defrauded consumers and shareholders, according to court filings.
France sold a 2.64 percent stake, or 11 million shares, in the French aerospace group for 753.5 million euros, state holding company APE said.
Online sales at the sportswear maker are growing strong, Frankfurter Allgemeine Zeitung reported on Tuesday, citing company sources. Internet revenues rose by 40 percent in 2015 so far, the daily said.
The carmaker doesn’t see impact from the VW emissions scandal on client demand at this point, “Handelsblatt” reported, citing an interview with CEO Harald Krueger.
The Swiss insurer said its Chief Executive Officer Martin Senn was stepping down, with Chairman Tom de Swaan to take over on an interim basis as the company seeks a permanent replacement. The company reconfirmed its 2014-2016 targets. Shares were seen opening up 0.2 percent in premarket indicators. For more, click
The utility has settled out of court damage claims it faced from oil and gas companies Dana Gas and Crescent Petroleum in connection with operations in Iraqi Kurdistan, the utility and Dana Gas said on Monday.
Almirall says acquisition of Poli Group will significantly contribute to adjusted earnings per share (EPS) in the first year.
A Spanish regulator said on Monday it would fine a subsidiary of power company Iberdrola 25 million euros over the price it charged for electricity from several hydroelectric plants in late 2013.
The airline’s cargo unit plans to reduce its personnel and services costs by 40 million euros by 2018, Frankfurter Rundschau reported on Tuesday.
Germany’s Thyssenkrupp held out the prospect of thousands of new Australian jobs as it submitted a bid for a $36 billion submarine project on Monday.
Reporting by Atul Prakash