European Factors to Watch-Shares set to rise after Asia surges
LONDON, Sept 9 (Reuters) - European stocks were seen rising on Wednesday, buoyed by strong gains in Asia, with a top European stock index set to rise for a third straight day as investor concern over China's growth continued to abate.
Asian shares rose, tracking Wall Street higher. Chinese shares were in positive territory and Japanese stocks were on course for their biggest one-day gain in 4 1/2 years, with both markets boosted by the prospect of further stimulus. ID:nL4N11F01S
Futures on the Euro STOXX 50 .STXEc1 , Germany's DAX FDXc1 and France's CAC FCEc1 were all up 2 percent, with futures on Britain's FTSE 100 FFIc1 up 1.4 percent.
In company news, Ryanair RYA.I was in focus after hiking its annual profit forecast by 25 percent on Wednesday. Its summer performance was boosted by bad weather in northern Europe and the strength of the British pound. ID:nL5N11F0LU
The pan-European FTSEurofirst 300 index .FTEU3 was up 1.2 percent at 1,415.58 points on Tuesday, closing in positive territory in back-to-back sessions, with Germany's DAX .GDAXI outperforming following strong trade data despite China's slowdown. ID:nL5N11E3N8
Markets have rallied in recent days after Chinese authorities have increased support and regulation of stock trading, but while the moves have brought stability to prices, equities and futures are trading so thinly that they are in danger of flat lining. ID:nL4N11F174
"This flip-flop of policies regarding support for the Chinese stock market surely has only served to further damage investor confidence in the markets," Angus Robertson, market analyst at IG, said in a note.
"It is difficult to know how this will play out going forward, or how long the government expects to continue these policies."
COMPANY NEWS
RYANAIR RYA.I
Ryanair hiked its annual profit forecast by 25 percent on Wednesday after its summer performance was boosted by bad weather in northern Europe and the strength of the British pound. ID:nL5N11F0LU
ALSTOM ALSO.PA
General Electric (NYSE: GE ) GE.N has won EU approval for its 12.4-billion-euro acquisition of Alstom's power business after agreeing to sell some of the French company's turbine assets to Italian rival Ansaldo Energia. ID:nL5N11E39I
EIFFAGE FOUG.PA
The French construction and concessions company said it was buying Pichenot-Bouille, a company specialised in the maintenance and renovation of railway networks. ID:nFWN11E028
France's oldest nuclear plant at Fessenheim in the country's northeast will not be closed before the end of President Francois Hollande's mandate in 2017, Energy and Environment Minister Segolene Royal indicated. ID:nL5N11E3QY
K+S SDFGn.DE
Potash Corp is prepared to launch a hostile takeover offer for the German rival under certain conditions, Handelsblatt reported on Tuesday, without citing the source of the information. ID:nL5N11E3OJ
Germany's regional government of Hesse, the home state of K+S, subsequently denied the Handelsblatt report saying it was aware of Potash's hostile bid. ID:nL5N11E43B
LUFTHANSA LHAG.DE
A Frankfurt court ruled late on Tuesday that pilots can go ahead with a strike planned for Wednesday, rejecting an application for a temporary injunction brought by the airline. ID:nL5N11E3XO
August traffic figures due at 1100 GMT.
Separately, more than 120 families of passengers killed in the Germanwings crash will band together to push for higher compensation payouts, Handelsblatt reported on Tuesday, without citing the source of the information.
METRO MEOG.DE , ZALANDO ZALG.DE
The family owners of German shoe chain Reno are seeking to find a buyer for the company by the end of the year, Chief Executive and co-owner Matthias Haendle told Reuters on Tuesday. ID:nL5N11E4FG
ABB ABBN.VX
The power grid components maker cut its mid-term growth target by one percentage point to 3-6 percent on the low oil price and weak Chinese market. ABB is trimming its structure to four divisions from five, and says the cost of a savings program will be $1.2 billion. ID:nFWN11E02J
For more click on ABBN.VX
IAG ICAG.L
A British Airways plane caught fire at an airport in Las Vegas on Tuesday, but the flames were extinguished and just two people among the 159 passengers and 13 crew onboard suffered minor injuries, McCarran International Airport said on Twitter (NYSE: TWTR ). British Airways is owned by IAG. ID:nL1N11F007
GLAXOSMITHKLINE GSK.L
GlaxoSmithKline Plc and its partner Theravance Inc THRX.O on Tuesday said their inhaled medicine Breo failed to prolong life of patients with chronic respiratory disease in a high-stakes clinical trial of 16,500 people. ID:nL1N11E1Y3
MAJOR MACROECONOMIC DATA/EVENTS (GMT) ECON :
0830
GB
Industrial, Manufacturing, Goods trade data
1100
US
Mortgage data
1215
CA
House Starts
1255
US
Redbook
1400
CA
BoC Rate Decision
1400
US
JOLTS Job Openings
1500
US
TR IPSOS PCSI
1500
CA
TR IPSOS PCSI
------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0508 GMT:
LAST PCT CHG
NET CHG S&P 500
1,969.41 2.51 %
48.19 NIKKEI
18404.54 5.61 %
977.46 MSCI ASIA EX-JP
402.68 2.66 %
10.45 EUR/USD
EUR=
1.1167 -0.29 %
-0.0032 USD/JPY
JPY=
120.23 0.38 %
0.4500 10-YR US TSY YLD US10YT=RR
2.195
--
0.00 10-YR BUND YLD
EU10YT=RR
0.680
--
0.00 SPOT GOLD
$1,123.00 0.14 %
$1.60 US CRUDE
$46.13 0.41 %
0.19
> GLOBAL MARKETS-Asian stocks catch a lift from US, Europe
MKTS/GLOB
> US STOCKS-Wall St jumps 2 pct as China gains fuel global gains
.N
> Nikkei soars on fresh Abenomics hopes, pension buying
.T
> TREASURIES-Yields rise on supply, before Fed meeting
US/N
> FOREX-Dollar gains as stocks soar, loonie and kiwi in focus
FRX/
> Gold firms above 3-wk low as traders await Fed's rate view
GOL/
> METALS-London copper hits six-week top as sentiment improves
MET/L
> Oil markets rise as Asian stock markets catch a tailwind
O/R
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