European Factors to Watch-Shares seen lower; eyes on Syngenta

  • Reuters
  • Stock Market News
European Factors to Watch-Shares seen lower; eyes on Syngenta
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MILAN, Nov 13 (Reuters) - European shares were seen opening lower on Friday after a commodities sell off dragged Asia lower overnight and as investors fret over the likelihood of a rate hike in the United States next month.

Syngenta is expected to rally at the open after Bloomberg reported that China National Chemical Corp is in talks to buy the world's largest agrichemical company but its initial offer of nearly $42 billion was rejected.

At 0745 GMT, futures for the Euro STOXX 50 .STXEc1 , France's CAC FCEc1 Germany's DAX FDXc1 , and Britain's FTSE 100 were down 0.4 to 0.6 percent.

Asian shares slumped on Friday after commodity prices plunged to multi-year lows on worries that slower global growth may worsen a supply glut, while U.S. Federal Reserve officials kept beating the drum for a rate hike next month.

Investors will focus on Friday also on third-quarter GDP data for the euro zone as well as on October retail sales and PPI data in the United States.

"If today's U.S. retail sales and PPI data follow the same trajectory as the latest Non Farms did, we could see market race to the bottom," London Capital Group dealer Jonathan Sudaria said.

On Thursday, the pan-European FTSEurofirst 300 index .FTEU3 ended down 1.6 percent, posting its biggest daily decline since Sept. 28.



The French conglomerate reported a higher quarterly operating profit, helped by a robust construction business abroad and improving trends at its telecoms arm. The family-controlled group confirmed its full-year 2015 targets on Friday and said its priority remained a return to growth from 2016.


China National Chemical Corp is in talks to buy Syngenta but its initial offer of nearly $42 billion for the world's largest agrichemical company was rejected, Bloomberg reported, citing unidentified sources.


The Swiss drugmaker will take a 1.6 billion Swiss franc charge to end manufacturing at four sites in Europe and the United States in a move that will result in up to 1,200 job losses as it addresses "current underutilisation" stemming from a changing portfolio of medications.


Australia-listed shares in BHP Billiton struck a seven-year low on Friday, their weakest since the global financial crisis, on mounting concerns it may ditch a policy of paying ever higher dividends.


Italy's biggest utility Enel confirmed full-year targets on Friday after reporting a 4.9 percent rise in core earnings in the first nine months lifted by its green business, operations in Latin America and Spain and one-offs.


Enel Green Power swung to a net loss of 97 million euros ($105 million) in the third quarter from a 102 million euro profit a year before, hurt by impairment charges on Romanian assets to the tune of 155 million euros.


The airline will cancel another 941 flights on Friday due to a strike, affecting 111,000 passengers. The cabin crew union (UFO) signalled on Thursday a willingness to compromise, saying it will make a new proposal on Friday to end the dispute with Lufthansa.


Garuda Indonesia GIAA.JK will decide whether to buy 30 wide-body jets worth potentially $9 billion from either Airbus or arch-rival Boeing (N: BA ) BA.N by end-2015, the airline's chief executive said in an interview on Friday.


The operator of the French capital's Orly and Roissy-Charles de Gaulle airports said October traffic rose 4 percent to 8.5 million passengers.


Italy's Salvatore Ferragamo SFER.MI will strive to meet "challenging" market expectations on 2015 earnings after reporting soft third-quarter results as unsuccessful currency hedging compounded weakness in China and the United States.


The real estate group slightly cut its earnings forecasts for 2015 and 2016 late on Thursday due to the impact of lower inflation rates on rent contracts.


The media group is less optimistic about the German television ads market than its peer RTL Group RRTL.DE as the fourth quarter is marked by too many uncertainties, its chief executive said on Thursday.


Sky Plc (L: SKYB ) hopes to achieve higher prices for TV packages in its core British market following years of investments to offer customers more customised bundles and premium content, its chief executive said on Thursday.


The carmaker's COO Alfredo Altavilla said on Thursday the launch of Maserati SUV Levante was confirmed for Q1 2016. He added that the European car market should reach sales of 15 million vehicles in 2017 or 2018.


The Italian car designer said on Thursday it expects to reach a deal to be acquired by Indian automaker Mahindra and Mahindra MAHM.NS in the next few weeks.


> Asian shares skid as commodities revisit six-year lows MKTS/GLOB

> Wall St suffers biggest drop since September .N

> Nikkei tumbles, snaps 7-day winning streak as commodity stocks weigh .T

> U.S. bond prices dip on 30-year, corporate supplies US/N

> Dollar stalls as risk appetite wanes on tumbling equities FRX/

> Gold, platinum at multi-year lows on fund outflows GOL/

> London copper near 6-yr lows, eyes fourth weekly drop MET/L

> U.S. oil falls to lowest in over two months on swelling inventories O/R

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