Wednesday December 10, 06:55 AM
Glance-European Factors -- Shares set to open marginally higher
FRANKFURT, Dec 10 (Reuters) - European shares were set to open marginally
higher on Wednesday, after Asian stocks rallied to a one-month high on optimism
that governments worldwide will bail out ailing industries and launch fiscal
stimulus packages.
Financial bookmakers see Britain's FTSE 100 opening 7-10 points
higher, France's CAC 40 (Paris: news) up 3.5-5 points and Germany's DAX
4-13.2 points higher.
Asian stocks rallied 3 percent amid hopes governments will come to the
rescue of troubled industries, despite U.S. stocks falling overnight on a series
of profit warnings.
The White House and U.S. Congressional Democrats reached a tentative
agreement on a bailout for beleaguered U.S. auto makers, which could buoy
European auto stocks, while in Asia, hopes are rising for government-led help
for key sectors such as technology.
Energy stocks could extend their gains from the previous session, as oil
rebounded by more than $1 a barrel in light bargain hunting on Wednesday.
With only one major European company reporting -- Carillion (LSE: CLLN.L - news) with a
trading update -- the focus will be on economic data. The German wholesale price
index for November is due at 0700 GMT, while French and Italian output data for
October is due respectively at 0745 and 0900 GMT.
----------------------MARKET SNAPSHOT AT 0626 GMT----------------------
LAST PCT CHG NET CHG
S&P 500 888.67 -2.31 % -21.03
NIKKEI (news) 8,660.24 3.15 % 264.37
MSCI ASIA EX-JP 285.02 4.34 % 11.85
EUR/USD 1.2933 0.06 % 0.0008
USD/JPY 92.62 0.47 % 0.4300
10-YR US TSY YLD 2.674 -- 0.02
10-YR BUND YLD 3.224 -- 0.00
SPOT GOLD $777.45 0.25 % $1.95
US CRUDE $43.01 2.23 % 0.94
-----------------------------------------------------------------------
* US Stocks - Wall St stung by risk-aversion, bleak outlooks
* GLOBAL - Asian shares rally on hopes for govt actions
* Oil rebounds to under $44 after 4 pct overnight fall
* TREASURIES - Slip in Asia as regional shares rise
* PRECIOUS-Gold edges up on euro and oil, firm equities aid
RENAULT
Renault Chief Executive Carlos Ghosn said the group is not in any
discussions about industry consolidation.
EADS (Paris: NL0000235190 - news)
The head of European aerospace group EADS said its planemaker Airbus would
be unable to avoid the impact of global financial turmoil, although there was
'no reason to panic'.
ERAMET
French mining group Eramet SA (Paris: FR0000131757 - news) cut its full-year earnings target as a
worldwide drop in steel production has led it to lower output.
ENI SPA (Milan: ENI.MI - news)
Libya should face no political obstacles to its purchase of an interest in
Italian oil major Eni, though buying a stake of 10 percent or more would be
cause for concern, Italy's foreign minister said.
GAS NATURAL (Madrid: GAS.MC - news)
Four new banks have joined the syndicate lending 18.5 billion euros to Gas
Nat to buy electricity producer Union Fenosa (Madrid: UNF.MC - news) .
HYPO REAL ESTATE (Xetra: 802770 - news)
The stricken German investment bank has received an extra 10 billion euros
in state liquidity guarantees, the bank said.
SAFRAN
Safran (Paris: FR0000073272 - news) wants to carry out acquisitions in the security business, the head of
its Sagem Securite unit, Jean-Paul Jainsky, said, according to Les Echos.
TISCALI SPA (TIS.MDD - news)
Pay-TV group British Sky Broadcasting Group Plc said it could make
sense to buy the British unit of Italian broadband operator Tiscali to increase
greatly the number of households it can reach.
GABETTI PROPERTY SOLUTIONS (Milan: GAB.MI - news)
Gabetti has agreed with financial institutions that they will not revoke
outstanding credit lines before Jan. 31.
ANIMA SGR (Milan: ANM.MI - news)
Banca Popolare di Milano (Milan: PMI.MI - news) 's buyout offer for all of asset
management company Anima will run from Dec. 15 to Jan. 23, the bank said.
SIA
Sia Abrasives Holding says full-year sales and profit will be below
expectations and that it will cut working hours in its Frauenfeld site from
January 2009 due to market decline in recent weeks.
BALOISE
Baloise CEO Rolf Schaeuble says in an interview with Tagesanzeiger daily
that the group is looking at several acquisition possibilities -- says now is
time to buy given low prices in the crisis.
TELECOMS
European Union guidelines to cut the fees mobile phone operators charge each
other for routing calls by 70 percent have been delayed, a draft European
Commission document showed on Tuesday.
(Reporting by Sarah Marsh; Editing by Erica Billingham)
Keywords: MARKETS EUROPE FACTORS
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
