European Factors-Shares seen tracking losses in Asia

(Recasts with futures; adds details, company news; updates snapshot)

PARIS, Aug 19 (Reuters) - European equities were set to fall on Wednesday,
trimming the previous session's gains and tracking losses in Asian stocks, with
China' stock market falling more than 3 percent in late trade.

By 0620 GMT, futures for the DJ Euro Stoxx STXEc1, for Germany's DAX
FDXc1 and for France's CAC FCEc1 were down between 0.4 percent and 0.6
percent.

The Shanghai Composite Index .SSEC sharply retreated on Wednesday as
investors were disappointed that authorities did not take steps to support the
market after the key index had fallen as much as 19 percent over the past two
weeks.

Tech shares will be in the spotlight after Hewlett-Packard (HPQ.N) reported
slightly better-than-expected quarterly results on Tuesday, helped by strong
server sales, but the firm expressed caution about business demand, sending its
shares down 2 percent in extended trading on Wall Street.

The FTSEurofirst 300 .FTEU3 index of top European shares gained 1.4
percent on Tuesday, but volumes remained low because of Europe's summer lull.
The total volume on the FTSEurofirst 300 represented only 69 percent of the
index's 90-day average daily volume.

The benchmark index, which has soared 45 percent since reaching a floor in
early March, is up 12.3 percent year-to-date, propelled in part by
better-than-feared corporate results.

According to Thomson Reuters data, out of the STOXX 600's .STOXX 219
companies that have already reported quarterly results, 112 beat estimates, 2
matched and 105 missed the estimates.

----------------------MARKET SNAPSHOT AT 0616 GMT----------------------

LAST PCT CHG NET CHG

S&P 500 .SPX 989.67 1.01 % 9.94

NIKKEI .N225 10,204.00 -0.79 % -80.96

MSCI ASIA EX-JP .MIASJ0000PUS 417.56 -0.23 % -0.98

EUR/USD EUR= 1.4106 -0.18 % -0.0025

USD/JPY JPY= 94.32 -0.40 % -0.3800

10-YR US TSY YLD US10YT=RR 3.483 -- -0.03

10-YR BUND YLD EU10YT=RR 3.285 -- -0.02

SPOT GOLD XAU= $936.30 -0.11 % -$1.00

US CRUDE CLc1 $69.08 -0.16 % -0.11

-----------------------------------------------------------------------

* Wall Street rebounds; retails, tech in the lead [ID:nLJ483773]

* Asia stocks edge up but wary of China [ID:nLJ503125]

* Nikkei dips 0.2 pct in cautious trade; Sanyo surges [ID:nT217622]

* Yen rebounds on caution over Chinese share falls [ID:nT275105]

* Oil rises towards $70 after surge on US stock draw [ID:nSIN403718]

* TREASURIES-Edge up in Asia on choppy shares [ID:nT66780]

* Gold rises to trade around $940, eyes on dollar [ID:nT88438]

* METALS-Copper little changed; hostage to equities [ID:nSP474996]

COMPANY NEWS:

UBS (UBSN.VX)

* Details of a landmark settlement of a U.S. tax case against the Swiss bank
could be announced as soon as Wednesday after the first regular meeting of the
Swiss cabinet following the summer recess. It should help the bank restore its
image and open the way for the Swiss state to sell its stake in UBS.

* The United States is building criminal cases against more than 150
American clients of Swiss bank UBS as part of a crackdown on tax evasion now
made easier by a deal over access to secret account information.

For details, see: [UBSN.VX-LEN-RTRS]

DEUTSCHE BANK (DBKGn.DE)

Stockbridge Real Estate Funds is considering a takeover bid for the
management of the $2.6 billion RREEF America REIT III real-estate fund run by
Deutsche Bank's real-estate-investment unit, reported the Wall Street Journal
citing DeWitt Bowman, the fund's lead independent director. For details, see:
[ID:nBNG120629]

ANGLO AMERICAN (AAL.L)/XSTRATA (XTA.L)

Two major Anglo American (AAL.L) shareholders have backed new chairman John
Parker's bid to buy time and stave off rival Xstrata's (XTA.L) nil-premium
merger proposal, which one said on Tuesday was effectively dead. For details,
see:[ID:nLI258952]

VOLKSWAGEN (VOWG.DE)

Workers at Volkswagen's Mexican plant went on strike on Tuesday after wage
negotiations between the company and the plant's union broke down, complicating
Mexico's already battered auto sector. For details, see: [ID:nN18229898]

DAIMLER (DAIGn.DE), FIAT (FIA.MI)

Creditors of Chrysler LLC are suing Daimler, accusing it of fraudulently
stripping the U.S. automaker of "billions of dollars in assets" prior to its
2007 sale of the U.S. carmaker to private equity firm Cerberus Capital
Management LP [CBS.UL]. For details, see:[ID:nN18424124]

CONTINENTAL (CONG.DE)

Fitch Ratings downgraded Continental AG's Long-term Issuer Default Rating
(IDR) and senior unsecured ratings to 'B+' from 'BB', respectively on Monday.
Fitch simultaneously maintained the IDR and senior unsecured ratings on Rating
Watch Negative (RWN). For details, see:[ID:nWNA1625]

SANOFI-AVENTIS (SASY.PA)

U.S. patent officials have agreed to review the patent governing Plavix, the
blood-clot treatment sold by Bristol-Myers Squibb (BMY.N) and French drugmaker
Sanofi-Aventis, a Bristol spokeswoman confirmed. For details, see:
[ID:nN18436320]

KPN (KPN.AS)

Wholesale telephone call carrier iBasis Inc IBAS.O filed a U.S. federal
lawsuit against the Dutch telecoms company seeking to halt a buyout offer that
it believes "grossly" undervalues the company. KPN last month offered to buy the
44 percent of iBasis it did not already own for $48.2 million, or $1.55 per
share. For details, see:[ID:nN18438343]

ANHEUSER-BUSCH INBEV (ABI.BR)

The financing package backing CVC's bid for Anheuser-Busch InBev's central
and eastern European (CEE) assets is complete but hangs in the balance as
ABInBev, the world's largest brewer, weighs its options, banking sources said on
Tuesday. For details, see:[ID:nLI311220]

HEIDELBERGCEMENT (HEIG.DE)

The family of late German billionaire Adolf Merckle is preparing the sale of
generic drugmaker Mepha, two sources close to the matter told Reuters on
Tuesday. Merckle's oldest son Ludwig inherited the Merckle family's main
holdings, which include a majority stake in cement maker HeidelbergCement. For
details, see: [ID:nLI352549]

(Reporting by Blaise Robinson; Editing by Hans Peters)