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European Factors to Watch-Shares seen opening slightly higher
March 9, 2016 / 6:27 AM / a year ago

European Factors to Watch-Shares seen opening slightly higher

(Adds company news items)

LONDON, March 9 (Reuters) - European stocks were seen opening slightly higher on Wednesday, steadying after a pullback in the previous session caused by another batch of weak Chinese data that reinforced concerns about a possible global economic slowdown.

Financial spreadbetters expected Britain's FTSE 100 to open flat to up by 0.1 percent, with some seeing the FTSE up by 3 points at the open.

Germany's DAX and France's CAC were both seen up by 0.1 percent, with the DAX expected to rise by 9-10 points while the CAC was seen up by 4-6 points.

The pan-European FTSEurofirst 300 index, which reached one-month highs on Friday after three straight weeks of gains, ended down 0.9 percent on Tuesday, having touched its lowest level in a week.

COMPANY NEWS:

ADECCO :

Swiss staffing group Adecco said on Wednesday growth in its biggest market, France, continued to improve in January and February, helping it post results broadly in line with expectations in the fourth quarter.

BOKSALIS :

Marine construction company Boskalis on Wednesday reported a better-than-expected core profit for 2015, but warned profit will fall this year as depressed commodity prices have hit demand for oil-linked marine infrastructure.

DEUTSCHE POST :

Deutsche Post said it expected to increase earnings by at least 1 billion euros ($1.10 billion) this year, despite not being able to rely on a strong tailwind from the global economy.

INDITEX :

The world's biggest clothing retailer Inditex reported on Wednesday year net profit of 2.88 billion euros ($3.16 billion), up 15 percent on the year ago period and in line with a Reuters polled forecast of 2.9 billion euros.

LONDON STOCK EXCHANGE /DEUTSCHE BOERSE :

Deutsche Boerse and the London Stock Exchange are targeting cost savings of more than 300 million euros ($331 million), once a merger of the two exchanges is completed, three people familiar with the matter said on Tuesday.

TESCO :

Britain's biggest supermarket group Tesco is looking to buy O2 out of a joint venture by acquiring the part of Tesco Mobile it does not already own, the Telegraph reported. (bit.ly/1Xbb3SK)

VOLKSWAGEN :

The U.S. Justice Department sent German automaker Volkswagen AG a subpoena under a bank fraud law in its diesel emissions probe, a person briefed on the matter said Tuesday. ------------------------------------------------------------------------------ > GLOBAL MARKETS-Asia shares retreat from 2-mth high on China, oil concerns > US STOCKS-Oil drop, China data drag Wall Street lower > Nikkei slides to one-week low on profit-taking, yen strength > TREASURIES-U.S. bond yields fall on weak Chinese data > FOREX-Yen back in favour as China data hurts appetite for risk > PRECIOUS-Gold falls with euro ahead of likely ECB easing > METALS--Metals steady after biggest one-day drop since Nov on China woes > Oil prices stable as falling U.S. output offset by demand worries (Reporting by Sudip Kar-Gupta)

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