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(AFX UK Focus)
2008-11-28 08:05
Glance-European Factors -- Futures tick up; oil, inflation eyed |
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LONDON, Nov 28 (Reuters) - European shares were set for a slightly higher open on Friday, adding to strong gains this week, amid volatile markets. Futures for the DJ Euro Stoxx and Germany's DAX were up 0.5 amd 0.4 percent respectively; those for France's CAC-40 were up 0.2 percent. Asian shares gained with investors looking to snap up bargains but the undertone remained wary. Japan's Nikkei closed up 1.7 percent. On Thursday, the FTSEurofirst 300 index of top European shares rose 2.6 percent to close at 852.38 points, taking its gain for the week to 12 percent. But the index is down more than 43 percent this year, hurt by a credit crisis and economic slowdown. Trading was subdued due to the Thanksgiving holiday in the United States, where there will only be half a day's trading on Friday. With the corporate and macro diaries thin, investors are training their sights on eurozone inflation data due at 1000 GMT. The forecast is for a rate of 2.3 percent. Oil prices will also be in focus. OPEC has not ruled out making its third supply cut in three months at a weekend meeting of the producer cartel that is hoping to put a floor under the collapse in world oil prices. ----------------------MARKET SNAPSHOT AT 0724 GMT---------------------------
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THYSSENKRUPP Thyssenkrupp said 2007/08 adjusted pretax profit was 3.5 billion euros, compared with Reuters poll average of 3.413 billion. It said 2007/08 new orders rise to 55.2 billion euros. It added that it expects economic conditions to have impact but cannot yet give concrete forecast for 2008/09. For more please double click on
STMICROELECTRONICS STMicroelectronics said the fourth quarter will be below company's forecasts. It now sees revenue between $2.2 billion and $2.35 billion and gross operating margin 38 percent plus or minus one percentage point.
ASTRAZENECA AstraZeneca Plc faces a delay in getting a new drug from its recently acquired MedImmune biotech unit to market in the United States. The Anglo-Swedish drugmaker said it had received a so-called "complete response letter" from the U.S. Food and Drug Administration (FDA) asking for additional information on motavizumab.
ROYAL BANK OF SCOTLAND British lender Royal Bank of Scotland said the government will take a 57.9 percent stake in the group after investors took up just 0.24 percent of the shares offered in its state-backed capital raising.
DEUTSCHE TELEKOM Germany's telecoms regulator plans to keep charges for connecting calls between networks stable for 2009 and scrap additional fees rivals charge state incumbent Deutsche Telekom for using their networks, Frankfurter Allgemeine Zeitung reported. COMMERZBANK. ALLIANZ Commerzbank said late on Thursday it moved to seal its takeover of Dresdner Bank ahead of schedule, paying just over 5 billion euros. Related news
SHELL The Anglo-Dutch oil company is delaying another Canadian oil sands project, saying it has withdrawn a regulatory application for its 100,000 barrel per day Carmon Creek thermal project as it looks to shave costs by revamping the project. For more double click on
BELGACOM The dominant Belgian telecoms operator says it has reached an agreement on the terms and conditions of its chief executive's contract and will now request the Belgian government to renew his mandate for another six years. The group also says it will pay a dividend in 2008. For more double click on
EADS EADS Chief Executive Louis Gallois is studying a reorganization of the group, cutting the number of divisions to 3 from 5 at present, Les Echos reported, citing unnamed sources. The paper said Airbus and the MTA military aircraft operations would be placed within one division, space and defence activities in another, while the Eurocopter helicopter business would make up the third. It also said the company is considering changing its name to Airbus and adopting a single HQ, in Toulouse, France, but that the German government has opposed the plan. An Air New Zealand Airbus A320 aircraft on a test flight crashed into the sea off France's southwest coast on Thursday, killing at least two people with five still missing. For story click on
VALEO One of Europe's leading car parts makers, Valeo, said on Thursday it planned to temporarily shut some French plants during the year-end holidays due to declining car production. For story click on
ERAMET French nickel and manganese group Eramet, which bought a 56 percent stake in Tinfos AS of Norway in July, said on Thursday it was cancelling the last step of the deal, citing the financial crisis. For story click on
FAURECIA French car parts manufacturer Faurecia said on Thursday it had finalised 1.42 billion euros ($1.83 billion) of financing "in difficult market conditions". For story click on
THALES Plane maker Dassault Aviation will not have to launch a bid for Thales if it buys Alcatel-Lucent's 20.78 percent stake in Europe's top radar maker, stock market watchdog AMF said on Thursday. For story click on (Reporting by Brian Gorman) Keywords: MARKETS EUROPE FACTORS (brian.gorman@thomsonreuters.com; +44 20 7542 9128; Reuters Messaging: brian.gorman.thomsonreuters.com@reuters.net)
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