European Factors -- Shares set for lower open

(updates with futures, snapshot table, quote, companies)

LONDON, Sept 9 (Reuters) - European shares were set to open lower on
Wednesday, snapping three days of gains, tracking falls in the Asian markets as
investors pause for breath.

Futures for the Eurostoxx 50 STXEc1 were down 0.3 percent, German DAX
futures FDXc1 were down 0.3 percent and French CAC futures FCEc1 were down
0.2 percent.

Asian stocks drifted lower on Wednesday after initially hitting a one-year
high, while the dollar hovered near a one-year low. [ID:nL9625070]

However, U.S. stocks advanced on Tuesday on an uptick in corporate deal
activity while the weak dollar led to gains in commodities, lifting shares of
oil and mining companies. [ID:nN08298273]

"In the U.S. the beige book is set for release much later in the session but
before that mortgage approval numbers will be closely watched as U.S. investors
look for more signs of a recovering housing market," said Jimmy Yates, head of
equities at CMC Markets.

"With little headlines on the corporate calendar in the UK today its likely
to be commodities that take centre stage. Oil prices surged above $70 a barrel
yesterday ahead of today's OPEC meeting. However members of the cartel are
likely to leave output levels unchanged citing the still fragile state of the
global economy as the reason," he said.

Investors will eye UK trade balance data for July, due for release at 0830
GMT, to guage the impact the emerging recovery is having on the British economy.

European shares closed higher on Tuesday for the third consecutive session,
with commodity stocks rising on the back of firmer crude and metal prices, while
M&A activity boosted telecoms.

The FTSEurofirst 300 .FTEU3 index of top European shares has rallied 51
percent since hitting a low in early March but it is still down 16 percent from
its level in mid-Sept 2008 before the collapse of Lehman Brothers.

----------------------MARKET SNAPSHOT AT 0639 GMT----------------------

LAST PCT CHG NET CHG

S&P 500 .SPX 1,025.39 0.88 % 8.99

NIKKEI .N225 10,312.14 -0.78 % -81.09

MSCI ASIA EX-JP .MIASJ0000PUS 441.51 -0.51 % -2.27

EUR/USD EUR= 1.4495 0.06 % 0.0008

USD/JPY JPY= 92.47 0.14 % 0.1300

10-YR US TSY YLD US10YT=RR 3.466 -- -0.02

10-YR BUND YLD EU10YT=RR 3.294 -- 0.01

SPOT GOLD XAU= $1,001.50 0.63 % $6.30

US CRUDE CLc1 $71.35 0.35 % 0.25

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

* Wall St ends up on M&A hopes, strong commodities [ID:nL9617596]

* Asia stocks dip from 1-yr high, dollar battered [ID:nHKG180495]

* Nikkei slides over 1 pct as banks, exporters fall [ID:nL9621455]

* Oil steady after dollar-led gains; OPEC eyed [ID:nSP475875]

* Shanghai copper hits 1-week top, sentiment upbeat [ID:nMAN501701]

* TREASURIES-Prices fall with higher stocks, auction set up [ID:nL9618003]

* Dollar, yen defensive; Aussie briefly at 1-yr high [ID:nT89167]

* Gold up, investors sell dollar to buy other assets [ID:nT182753]

COMPANIES

CADBURY CBRY.

Kraft (KFT.N) played down speculation on Tuesday that it would be prepared
to raise its offer for Cadbury after the chocolate company rejected its 10.2
billion pound offer. [ID:nN08295762]

BRITISH AIRWAYS BAY.L, EASYJET (EZJ.L)

The world must reach an agreement to cap aviation emissions at U.N. climate
talks in December if countries are to meet targets to combat global warming,
Britain's chief climate adviser said on Wednesday. [ID:nL8200905]

NORDEA (NDA.ST), HANDELSBANKEN (SHBa.ST), SWEDBANK (SWEDa.ST)

Ratings agency Moody's Investor Service said late on Tuesday it had
downgraded the credit ratings of Nordea, Handelsbanken and Swedbank after a
review of their financial strength.

Moody's downgraded the long-term senior debt and deposit ratings for all
three banks by one notch, as well as their bank financial strength rating, it
said in a statement.

The rating agency downgraded Nordea Bank AB's bank financial strength rating
to C+ from B, with a negative outlook. It also downgraded the financial strength
rating for Handelsbanken to C+ from B, with a negative outlook, as well as that
of Swedbank, to D+ from C- with a negative outlook.

IG GROUP (IGG.L)

British financial spread betting firm IG Group reported a 28 percent
increase in first quarter group revenue on Wednesday and said new account
openings, a key indicator of future growth, remain strong. [ID:nL9655205]

RICHEMONT (CFR.VX)

Richemont, the luxury goods group behind Cartier jewellery and Chloe
handbags, struck a cautious note about future demand on Wednesday amid signs the
rate of decline in its sales was slowing. [ID:nL8254747]

DAIMLER (DAIGn.DE), BMW (BMWG.DE)

Daimler Chief Executive Dieter Zetsche told Sueddeutsche Zeitung that BMW
and Daimler were looking into the possibility of jointly manufacturing
transmissions in the United States.

He denied speculation that Daimler was pursuing any further job cuts at the
moment.

RENAULT (RENA.PA)

Carlos Ghosn, the chief executive of carmakers Renault and Nissan Motor Co
(7201.T), said "the financial crisis is clearly behind us" but added that the
recovery would be gradual and take several years. [ID:L8523735]

EADS (EAD.PA)

EADS Chief Executive Louis Gallois told La Tribune newspaper he feels
business is starting to pick up though he cautioned that the full depth and
length of the economic crisis would not be clear until next year. [ID:nL8498436]

Separately, U.S. aerospace giant Boeing Co (BA.N) said it expects cargo
traffic to return to growth in 2010, a senior executive said on Wednesday.
[ID:nHKU003340]

VIVENDI (VIV.PA)

The French entertainment and telecoms group said on Wednesday that it
planned to launch an amicable bid for Brazilian telecom operator GVT GVTT3.SA,
in a deal that would be valued at 2 billion euros ($2.88 billion) if completed.
[ID:nN08302135]

ALCATEL-LUCENT (ALUA.PA)

Telecom equipment makers can make profits without consolidation, focusing on
new technologies, services and cost cuts, Adolfo Hernandez, who heads
Alcatel-Lucent's operations in Europe, the Middle East, and Africa, said in an
interview with Reuters. [ID:nL8486692]

FRANCE TELECOM (FTE.PA)

An Egyptian appeal body upheld a regulator's rejection of France Telecom's
third offer to buy outstanding Mobinil shares, the deputy head of the regulator
said. [ID:nL879088]

AREVA CEPFi.PA, GDF SUEZ (GSZ.PA), TOTAL (TOTF.PA)

The United Arab Emirates denied it was days away from awarding the largest
ever energy contract in the Middle East for the development of a nuclear power
plant. The denial was issued after industry sources told Reuters the UAE was on
the verge of naming a winner for the contract to build at least four reactors.
[ID:nL7574244]

THYSSENKRUPP (TKAG.DE)

The company is heading for a pre-tax loss of more than 2 billion euros
($2.88 billion) including special items in its current fiscal year 2008/2009,
Die Welt reported, citing sources close to the company. [ID:nL9497971]

However, the company still plans to pay out a dividend, the paper said,
adding that a company spokesman did not want to confirm the information.

Separately, the steel company is selling its shipyard Nordseewerke to
family-owned Siag Schaaf AG, which plans to take over 700 workers, Handelsblatt
reported, citing Siag.

E.ON (EONGn.DE)

The company's Romanian unit will cut roughly a quarter of its workforce, or
about 2,000 people, by 2012 as part of ongoing restructuring plans, the unit's
director said on Tuesday. [ID:nL8317396]
(Reporting by Joanne Frearson)