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European Factors to Watch-European shares seen mixed at open
February 18, 2013 / 7:54 AM / 5 years ago

European Factors to Watch-European shares seen mixed at open

LONDON, Feb 18 (Reuters) - Futures contracts on Europe's major stock markets
pointed to a flat to slightly higher open on Monday and some traders were still
expecting equity markets to maintain an upwards trajectory in the near-term,
with any immediate decline to be short-lived and relatively shallow.
    The futures contracts for the Euro STOXX 50 was down by 0.1
percent by 0745 GMT. The futures contract for Germany's DAX rose 0.2
percent while it was flat on France's CAC-40.    
    The FTSEurofirst 300 closed down 0.2 percent at 1,161.39 on Friday,
around levels seen at the start of January. The euro zone's blue-chip Euro STOXX
50 index shed 0.8 percent to 2,615.26 points. 
    The Group of 20 nations declared on Saturday there would be no currency war
and deferred plans to set new debt-cutting targets, underlining broad concern
about the fragile state of the world economy. 
    However, equity traders saw little impact on stocks from the G20 meeting and
added that a market holiday in the United States on Monday might also leave some
investors to stay on the sidelines.
    "While we may be prone to a correction, it still looks as if the market
wants to move higher. The market will not have any substantial correction until
we reach new highs on the U.S., and in the meantime people are still looking to
buy the dips," said Central Markets trader Joe Neighbour.
    Capital Spreads dealer Jonathan Sudaria said European equity markets may get
a lift from gains in Asian markets overnight.
    "Markets closed flat on Friday as the G20 meeting got underway as traders
remained cautious of any moves that escalated the tension surrounding the
brewing currency war," Capital Spreads dealer Jonathan Sudaria wrote in a
research note.
    "However, expectations that Japan would receive a ticking off never
materialised and they looked to have avoided any serious backlash for their
ultra easy monetary policy. With the threat of a currency war appeased for now,
bulls may emulate Asian markets and go on the offensive," he added.   
 MARKET SNAPSHOT AT 0744 GMT                        
                                   LAST    PCT CHG  NET CHG
 S&P 500                       1,519.79     -0.1 %    -1.59
 NIKKEI                        11,407.8     2.09 %   234.04
 MSCI ASIA       <.MIASJ0000P    557.03    -0.18 %    -0.98
 EX-JP           US>                                
 EUR/USD                         1.3341    -0.13 %  -0.0017
 USD/JPY                          94.02     0.58 %   0.5400
 10-YR US TSY                     2.005         --     0.00
 10-YR BUND YLD                   1.634         --    -0.03
 SPOT GOLD                     $1,615.6     0.41 %    $6.55
 US CRUDE                        $95.58    -0.29 %    -0.28

  Japan stocks rally to near 4-yr highs after G20                    
  US STOCKS-Wall Street ends slightly down, S&P positive for 7th week 
  Nikkei jumps exporters after Japan avoids G20 criticism             
  US STOCKS-Wall Street ends slightly down, S&P positive for 7th week 
  Yen nears 33-mth low as Japan avoids direct G20 criticism           
  Gold bounces off 6-month low; jewellers buy                         
  Copper falls on signs of dimmer global growth                       
  Brent steadies below $118, supported by global growth hopes         
    CARLSBERG : Danish brewer Carlsberg on Monday reported operating
earnings slightly below forecasts as its key Russia market stalled and Western
Europe sales remained sluggish. 
    FRANCE TELECOM : The telecom group said it agreed on an option to
sell its 20 percent minority stake in Portugal-based telecom operator Sonaecom
 to majority owner Sonae for about 100 million euros.
    PHILIPS : A Dutch legal group said about 1,000 consumers registered
with it on Saturday to claim damages against Philips, one of several consumer
electronics firms fined late last year by the European Commission for
uncompetitive practices. 
    BMW : The German automaker is recalling 30,265 of its X5 utility
vehicles from model years 2007-2010 to correct a brake vacuum pump leak,
according to U.S. safety regulators. 
    DEUTSCHE TELEKOM : Paulson & Co, a top shareholder in MetroPCS
Communications Inc, became the second big investor in a week to
criticize the wireless service provider's plan to merge with T-Mobile USA,
potentially signalling trouble for the deal. 
    DAIMLER : The company will stick to its Formula One engagement, a
spokesman told Bild newspaper in reaction to shareholder criticism. Asset
management firms DWS and Union Investment, two of Daimler's shareholders, had
called on the carmaker to exit the Formula One, Frankfurter Allgemeine
Sonntagszeitung quoted the two groups as saying.
    METRO : The German retailer will keep costs under tight control to
improve the group's performance, its chief executive said in an interview.
    NOVARTIS : Chairman Daniel Vasella said he will receive up to 72
million Swiss francs ($77.94 million) over the next six years after leaving the
company this month, news that might play into the hands of supporters of a
referendum to limit "fat cat" pay.The news has unleashed a wave of indignation
among activist shareholders and politicians.
    U.S. regulators approved Novartis AG's Zortress as the first new drug in
more than a decade for preventing organ rejection in adult patients receiving a
liver transplant, the company said on Friday.
    Roche and biopharma company Chiasma announced a deal to develop and
commercialize Chiasma's Octreolin for acromegaly and neuroendocrine tumors,
giving Roche a worldwide exclusive license and entitling Chiasma to upfront and
milestone payments of up to $595 million.
    French bank Natixis said on Sunday it would simplify its finances by
shedding a 20 percent stake in BPCE, a network of cooperative lenders which
controls it, paving the way for higher dividends in the future.

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