European Factors to Watch-Shares set to fall after weak China manufacturing data

  • Reuters
  • Stock Market News
European Factors to Watch-Shares set to fall after weak China manufacturing data
Credit: © Reuters.

LONDON, Sept 1 (Reuters) - European stocks were seen falling at the open on Tuesday after weak manufacturing data from China raised fresh concerns over the health of its economy and hit Asian markets.

Activity in China's manufacturing sector contracted at its fastest pace in three years in August, an official survey showed on Tuesday, reinforcing fears of a sharper slowdown in the world's second-largest economy despite a flurry of government support measures. ID:nL4N1123W5

Shares in Asia fell following the data. ID:nL4N11701Q

"At a time when the People's Bank of China is already making big efforts to shore up the economy, this is very concerning," Craig Erlam, senior market analyst at OANDA, said in a note.

"It's no surprise that people expect the economy to slow well below 7 percent in the second half of the year, unless of course we see further monetary and fiscal stimulus measures, which is likely."

Futures on the Euro STOXX 50 STXEc1 , Germany's DAX .GDAXI , France's CAC FCEc1 and Britain's FTSE FFIc1 were 2.2-1.3 percent lower at 0601 GMT.

Investor caution over Chinese growth contributed to a drop in European shares in August, with the pan-European FTSEurofirst 300 .FTEU3 chalking up its biggest monthly loss in four years on Monday. ID:nL5N1162YJ

Britain's stock market will re-open after being closed for a public holiday on Monday.

COMPANY NEWS

BAYER BAYGn.DE

Bayer is pushing ahead with a listing of its Material Science division. "We are on track, I am not concerned about China," the division's chief, Patrick Thomas, told German daily Rheinische Post. An IPO is planned by mid 2016.

MANZ M5ZG.DE

Manz AG said it received an order for a production line for lithium-ion batteries with a sales volume of around 12 million euros. The agreement contains the option for additional production in the USA and China. The orders will impact revenues and earnings in the current fiscal year and in some cases in the coming year, Manz said.

SYNGENTA SYNN.VX

The Swiss crop chemicals maker said it has won U.S. approval for its fungicide solatenol, adding global peak sales could reach $1 billion. SYNN.VX

NOVARTIS NOVN.VX

The drugmaker said it received EU approval for Tafinlar and Mekinist, the first combination approved for patients with an aggressive form of melanoma. NOVN.VX

UBS UBSG.VX

UBS said it has completed its SESTA procedure and will pay a supplementary dividend of 0.25 Swiss francs on Sept. 22. It's also starting a new marketing campaign with celebrity photographer Anne Leibowitz.

KERING PRTP.PA

Italian private equity firm Investindustrial has been discussing for months with French luxury group Kering PRTP.PA a possible purchase of its Sergio Rossi shoe brand but a deal is still far away, a source close to the matter said on Monday. ID:nI6N10H012

NUMERICABLE-SFR NUME.PA

European telecoms group Altice ATCA.AS on Monday named sector expert Michel Combes as its chief operating officer and as chairman of its Numericable-SFR mobile phone business to help accelerate its expansion. ID:nL5N11643X

JCDECAUX JCDX.PA

French outdoor advertising company JCDecaux buys a 70 percent stake in Peru's advertising company Eye Catcher Media, with founding shareholders Luiz Felipe Mauger and Miguel Claux, retaining a 30 percent stake in company. ID:nFWN11608Z

SACYR SCYR.MC

The construction group said after market close on Monday that it would pay its first dividend in four years this year and aimed to nearly double its core profit between 2016 and 2020, marking its recovery from Spain's deep economic crisis. ID:nL5N1164BZ

ASTRAZENECA AZN.L

To partner with Valeant VRX.TO on brodalumab product. Under the terms of the agreement, Valeant will make an upfront payment to Astrazeneca of $100 million. ID:nWNAB085JM

PUNCH TAVERNS PUB.L

Punch Taverns ees full-year profits in line with management expectations. ID:nFWN1160AB

AGA AGA.L - Receives approach regarding possible cash offer from Whirlpool Corporation (NYSE: WHR ). ID:nASM000BZB

VIRGIN MONEY VM.L - CFO Lee Rochford steps down. ID:nFWN117002

ROYAL DUTCH SHELL RDSa.L - Says Puget Sound refinery units normal after power blip. ID:nWNAB085EG

MAJOR MACROECONOMIC DATA/EVENTS (GMT) ECON :

0745

IT

Markit/ADACI Mfg PMI

0750

FR

Markit Mfg PMI

0755

DE

Markit/BME Mfg PMI

0755

DE

Unemployment

0800

EZ

Markit Mfg Final PMI

0800

IT

Unemployment rate

0830

GB

BOE consumer credit

0830

GB

Mortgage lending

0830

GB

M4 Money supply

0830

GB

Markit/CIPS Mfg PMI

0900

EZ

Unemployment rate

0900

IT

GDP Final

1230

CA

GDP

1255

US

Redbook

1330

CA

RBC Mfg PMI

1345

US

Markit Mfg PMI

1430

US

ISM

------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0516 GMT:

LAST

PCT CHG NET CHG S&P 500

.SPX

1,972.18 -0.84 % -16.69 NIKKEI

.N225

18355.88 -2.83 % -534.6 MSCI ASIA EX-JP

.MIAPJ0000PUS 400.33

-0.82 % -3.31 EUR/USD

EUR=

1.1272

0.54 % 0.0061 USD/JPY

JPY=

120.63

-0.49 % -0.5900 10-YR US TSY YLD US10YT=RR

2.186

--

-0.01 10-YR BUND YLD

EU10YT=RR

0.807

--

0.01 SPOT GOLD

XAU=

$1,142.40 0.73 % $8.30 US CRUDE

CLc1

$47.69

-3.07 % -1.51

> GLOBAL MARKETS-Asian shares slip after downbeat China PMIs

MKTS/GLOB

> US STOCKS-Wall Street's worst month in 3 years ends on a sour note

.N

> Nikkei falls as weak capex data sours mood

.T

> TREASURIES-Prices slip after oil rally triggers inflation fears

US/N

> FOREX-Yen, euro buoyed by risk aversion as equities retreat

FRX/

> PRECIOUS-Gold gains as equities, dollar retreat

GOL/

> METALS-London copper flat amid China factory woes; nickel slides

MET/L

> Oil prices drop 3 pct as investors retreat from overnight gains

O/R

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