European Factors to Watch-Shares set for biggest weekly drop in 6 weeks
LONDON, Aug 14 (Reuters) - European stocks were seen opening steady on Friday, although a top share index was set for its biggest weekly loss in six weeks following moves by China to let its currency weaken.
After devaluing the yuan earlier in the week, China's central bank said on Thursday there was no reason for the currency to fall further given the country's strong economic fundamentals, helping to restore calm to jittery global markets.
Those reassurances helped the pan-European FTSEurofirst 300 .FTEU3 end up 0.9 percent on Thursday. However, it remains down 2.8 percent for the week, its biggest weekly fall since the end of June, after the initial moves by China to allow the yuan to weaken hit mining, auto and luxury stocks.
Financial spreadbetters expected Britain's FTSE 100 .FTSE to open flat to 1 point lower, Germany's DAX .GDAXI to open 7 to 14 points lower, or down 0.1 percent, and France's CAC 40 .FCHI to open down 5 to 7 points, or 0.1 percent lower.
COMPANY NEWS
ROYAL IMTECH IMUN.AS
The Dutch engineering services company has been declared bankrupt and its Marine and Nordic divisions are being sold to private investors, the company and its administrators said on Thursday.
ENGIE ENGIE.PA
Belgium's Tihange 3 nuclear reactor will be restarted overnight between Friday and Saturday, after it was halted early on Thursday because of a technical issue, said its operator Electrabel, part of France's Engie.
VOLKSWAGEN VOWG_p.DE PORSCHE PSHG_p.DE
Prosecutors have dropped a market manipulation probe against members of the supervisory board of sportscar maker Porsche AG, including Wolfgang Porsche and Ferdinand Piech, Frankfurter Allgemeine Zeitung said citing people close to the case. Porsche declined comment. Porsche AG is now owned by Volkswagen (XETRA: VOWG ) AG.
DEUTSCHE EUROSHOP DEQGn.DE
Still expects sales of between 201 million euros and 204 million euros, with EBIT between 177 million euros and 180 million euros for FY 2015. Aims to pay dividend of at least 1.35 euros per share for FY 2015.
SCHINDLER HOLDING AG SCHP.S
The world's second-biggest maker of elevators said first-half net profit rose 6.5 percent. It expected 2015 revenue to grow by 6 to 8 percent in local currencies and that net profit will total 700 mln to 750 mln francs
SCHP.S
MAJOR MACROECONOMIC DATA/EVENTS (GMT) ECON :
0530
FR
GDP Preliminary
0600
DE
GDP Flash
0645
FR
Non-Farm Payrolls
0800
IT
GDP Preliminary
0830
GB
Construction
0900
EZ
GDP, Inflation
1230
CA
Manufacturing Sales
1230
US
PPI
1315
US
Industrial, Manufacturing Output
1400
US
University of Michigan Sentiment
1430
US
ECRI Weekly
------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0513 GMT:
LAST PCT CHG NET CHG S&P 500
2,083.39 -0.13 %
-2.66 NIKKEI
20545.42 -0.24 %
-50.13 MSCI ASIA EX-JP
431.29 -0.09 %
-0.39 EUR/USD
EUR=
1.1156 0.07 %
0.0008 USD/JPY
JPY=
124.40 -0.01 % -0.0100 10-YR US TSY YLD
2.171
--
-0.02 10-YR BUND YLD
EU10YT=RR
0.637
--
0.00 SPOT GOLD
$1,112.65 -0.18 %
-$2.00 US CRUDE
CLc1
$42.01 -0.52 %
-0.22
> GLOBAL MARKETS-Asia shares to end week lower; crude oil slumps
MKTS/GLOB
> US STOCKS-Wall St ends flat as energy shares drop with oil
.N
> Nikkei dips on profit taking, weak yuan fears ebb for now
.T
> TREASURIES-U.S. bonds droop on yuan assurances, Fed prospects
US/N
> FOREX-Dollar ticks up as China stops guiding yuan lower
FRX/
> PRECIOUS-Gold slips as yuan firms, to snap 7-wk losing run
GOL/
> METALS-Copper falls amid China yuan worries
MET/L
> U.S. crude oil dips on high U.S. stocks, Asia economy worries
O/R
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