May 31, 2016 / 5:21 AM / 2 years ago

European Factors to Watch-Shares seen steady at open

(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, May 31 (Reuters) - European stocks were expected to be steady at the open on Tuesday, propped up by a rise in the U.S. dollar on currency markets which weakened the euro, since a weaker euro typically helps European companies to export their goods overseas.

Financial spreadbetters at IG expected Britain’s FTSE 100 to open down by 17 points, or 0.3 percent lower. Germany’s DAX was seen up by 5 points, or 0.1 percent higher, while France’s CAC was seen down by 5 points, or 0.1 percent lower.

The dollar hovered near its highest level in two months against a basket of currencies on Tuesday on growing expectations of an imminent U.S. interest rate hike, while the euro lost ground.


Airbus is sticking to 2016 delivery targets despite a slow start caused by supplier problems, but is having to fall back on an older version of its best-selling jet to make up for delays in the A320neo, executives said.


Air France-KLM is entering exclusive negotiations with China’s HNA Group to sell a stake in its catering business Servair, the Franco-Dutch airline group said on Monday.


Italy’s bank bailout fund is set to backstop another cash call at a troubled regional lender, running the risk of using the bulk of its war chest to rescue two weak banks.


French luxury goods group LVMH has appointed Fabio d’Angelantonio as the next chief executive of high-end textile and clothing company Loro Piana, it said on Monday.


Nestle, the world’s biggest food company, is stepping up its push into medicine with a global deal worth up to 100 million euros ($111 million) to develop and market an experimental milk allergy test for infants.

The Swiss group will pay DBV Technologies 10 million euros upfront for rights to its skin patch test for cow’s milk protein allergy, with the balance depending on successful development, the two companies said on Tuesday.


Standard Chartered is to launch its mobile and online banking platform in eight African countries, its consumer banking chief for the region told Reuters, as the lender seeks to grow in Africa at a time when some European banks are retreating. ——————————————————————————————————————— > GLOBAL MARKETS-Asia shares firm but set for monthly loss > Nikkei rises in choppy trade, event risks temper mood > FOREX-Dollar supported by U.S. rate view, Aussie jumps > PRECIOUS-Gold inches up but heading for biggest monthly decline in six > METALS-London copper set for biggest monthly drop since November on dollar gains > U.S. oil prices rise on start of summer driving season

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.

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Mike Dolan, Markets Editor EMEA. (Reporting by Sudip Kar-Gupta)

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