European Factors--Shares set to rise; earnings, data in focus

(Adds analyst quote, futures, updates company news, snapshot table)

FRANKFURT, July 31 (Reuters) - European stock index futures edged up on
Thursday, pointing to another day of gains after Wall Street's overnight
advance, with the focus on corporate earnings and key economic indicators.

At 0640 GMT, futures for the Eurostoxx 50 STXEc1, Germany's DAX FDXc1
and the French CAC 40 FCEc1 were up around 0.2 percent -- roughly echoing
pre-market indications from financial bookmakers in London.

More than 50 top European companies are scheduled to report, among those
banks HBOS HBOS.L and Deutsche Bank (DBKGn.DE), oil majors Royal Dutch Shell
(RDSa.L) and Repsol (REP.MC), telecom operators BT Group (BT.L), Telefonica
(TEF.MC) and France Telecom (FTE.PA), consumer goods group Unilever (UNc.AS),
drug maker Sanofi-Aventis (SASY.PA) and property group Metrovacesa (MVC.MC).

Heinz-Gerd Sonnenschein, equity strategist at Postbank, singled out HBOS and
Deutsche Bank as well as Royal Dutch Shell and Repsol as touchstone corporate
results to watch.

"They will be the most important on the company side," he said, adding that
euro zone July inflation numbers, due at 0900 GMT, could also affect investor
sentiment.

U.S. second-quarter GDP is due at 1230 GMT. Economists polled by Reuters
expects 2.0 percent annualised growth in the world's largest economy.

----------------------MARKET SNAPSHOT AT 0640 GMT----------------------

LAST PCT CHG NET CHG

S&P 500 .SPX 1,284.26 1.67 % 21.06

NIKKEI .N225 13,376.81 0.07 % 9.02

MSCI ASIA EX-JP .MIASJ0000PUS 477.86 0.42 % 2.00

EUR/USD EUR= 1.5611 0.22 % 0.0032

USD/JPY JPY= 107.79 -0.28 % -0.3100

10-YR US TSY YLD US10YT=RR 4.048 -- 0.00

10-YR BUND YLD EU10YT=RR 4.396 -- 0.00

SPOT GOLD XAU= $913.15 0.85 % $7.65

US CRUDE CLc1 $126.70 -0.06 % -$0.07

-----------------------------------------------------------------------
* Wall Street rises on ADP jobs data, Fed's move [ID:nN30308571]
* GLOBAL MARKETS-Asia stocks edge up but growth fears linger [ID:nL1050419]

* Nikkei ends up 0.1 pct as drugmaker stocks gain [ID:nTKZ002969]

* Oil steady after gain from U.S. gasoline stock fall [ID:nT175416]

* Dollar holds near 1-month highs before U.S. GDP [ID:nT156278]

* TREASURIES-Rise in Asia, investors await key data [ID:nT178063]

* Gold off 5-week low ahead of U.S. data, platinum up [ID:nSP291985]

COMPANY NEWS

DEUTSCHE BANK (DBKGn.DE)

Deutsche booked $3.6 billion of writedowns in the second quarter, taking its
bill from the global financial crisis beyond $11 billion. The bank said capital
markets would remain volatile and challenging in the second half and that a weak
economy should have a negative impact on businesses important for banks.

Related news [DBKGn.DE-E]

HBOS HBOS.L

Britain's biggest home lender said first-half profits fell 51 percent as it
took a $2.2 billion hit from negative adjustments on securities impacted by the
credit crunch. HBOS said it would consider "selective asset disposals to improve
out deposit to loan ratio," but did not provide further details.

Related news [HBOS.L-E]

ROYAL DUTCH SHELL (RDSa.L)

Royal Dutch Shell reported a 5 percent rise in second-quarter current cost
of supply (CCS) net income to $7.9 billion on the back of high oil prices.
Excluding one-off items, the "clean" CCS or underlying result was $7.8 billion,
compared to an average forecast of $8.3 million in a Reuters poll of analysts.

Related news [RDSa.L-E]

UNILEVER (UNc.AS) (ULVR.L)

The Anglo-Dutch food and consumer goods group reported a 6.8 percent rise in
second-quarter underlying sales and confirmed its outlook to see growth ahead of
its 3-5 percent target range.

Related news [UNc.AS-E]

SANOFI-AVENTIS (SASY.PA)

The pharmaceuticals group posted lower than expected earnings per share and
revenues for the second quarter but raised its earnings per share forecast for
2008. Related news [SASY.PA-E]

TELEFONICA (TEF.MC)

Telefonica posted a 6.2 percent decline in first-half net profit to 3.593
billion euros, exceeding forecasts, and reiterated its growth guidance for 2008.

Related news [TEF.MC-E]

FRANCE TELECOM (FTE.PA)

France Telecom posted first-half underlying profits slightly above
expectations and proposed an interim dividend for the first time ever.

Related news [FTE.PA-E]

CAPGEMINI (CAPP.PA)

Europe's largest IT services group raised its 2008 revenue growth goal after
it posted a forecast-beating 23.4 percent jump in first-half operating profit.

Related news [CAPP.PA-E]

BASF BASF.DE

BASF, the world's largest chemical company by sales, posted a
consensus-beating 19 percent rise in second-quarter operating profit thanks to
rising oil prices and strong demand for its agrochemicals products.

Related news [BASF.DE-E]

BRITISH ENERGY BGY.L

French electricity group EDF (EDF.PA) will offer between 760 and 770 pence
per share for British nuclear operator British Energy, French daily Le Figaro
reported, citing unnamed sources. An EDF spokesman declined to comment.

Related news [BGY.L-E]

GLAXOSMITHKLINE (GSK.L)

The new chief executive of GlaxoSmithKline said on Wednesday therapeutic
vaccines used to treat cancer and other diseases could become a major product
line for the world's second-largest drugmaker.

Related news [GSK.L-E]

METRO (MEOG.DE)

Retailer Metro (MEOG.DE), a bellwether of German economic health, said
second-quarter operating profit before special items rose 8.6 percent to 329
million euros, in line with expectations. Sales grew 6.9 percent, despite weak
consumer demand in Europe's biggest economy.

Related news [MEOG.DE-E]

(Reporting by Peter Starck)