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."
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
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
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
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
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
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
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 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 :
Industrial, Manufacturing, Goods trade data
BoC Rate Decision
JOLTS Job Openings
TR IPSOS PCSI
TR IPSOS PCSI
------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0508 GMT:
LAST PCT CHG
NET CHG S&P 500
1,969.41 2.51 %
18404.54 5.61 %
977.46 MSCI ASIA EX-JP
402.68 2.66 %
1.1167 -0.29 %
120.23 0.38 %
0.4500 10-YR US TSY YLD US10YT=RR
0.00 10-YR BUND YLD
0.00 SPOT GOLD
$1,123.00 0.14 %
$1.60 US CRUDE
$46.13 0.41 %
> GLOBAL MARKETS-Asian stocks catch a lift from US, Europe
> US STOCKS-Wall St jumps 2 pct as China gains fuel global gains
> Nikkei soars on fresh Abenomics hopes, pension buying
> TREASURIES-Yields rise on supply, before Fed meeting
> FOREX-Dollar gains as stocks soar, loonie and kiwi in focus
> Gold firms above 3-wk low as traders await Fed's rate view
> METALS-London copper hits six-week top as sentiment improves
> Oil markets rise as Asian stock markets catch a tailwind
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