CORRECTED - WEEKAHEAD-The view from Reuters EMEA news editors

(Corrects 5th para to correct nationality of Ferrero)

LONDON Nov 20 (Reuters) - Following is the view from Reuters editors in Europe, the Middle East and Africa on the news that is likely to matter most for the week ahead starting November 21.

-- WITHDRAWING STIMULUS? - markets rally eases -- ECONOMIC DATA - to offer signs about the shape of recovery -- CADBURY - watching for Ferrero/Hershey counterbid -- EUROPEAN UNION JOBS - France, Germany lead the positioning -- CLIMATE - final meetings in run up to Copenhagen

WITHDRAWING STIMULUS?

Stock markets have fallen back after briefly rising above last month's highs and chances are increasing for the trends of the past six months to stall as investors lock in profits on risky trades before year-end book closings. Policy signals may be encouraging this, with U.S. Fed Chairman Ben Bernanke making a rare comment on the risks of a weak dollar, emerging markets imposing or considering steps to limit capital inflows, and a small but growing number of euro zone central bankers urging banks to show restraint in borrowing 12-month funds at the European Central Bank's 12-month tender in December -- possibly a sign that the ECB is preparing for tighter policy. (andrew.torchia@reuters.com)

ECONOMIC DATA

Flash estimates for purchasing managers' indexes for the euro zone, Germany and France are due on Monday; these have been pointing to recovery, with the euro zone services PMI hitting a 22-month high in October. [ID:nL467853] The German Ifo Institute's November business climate survey follows on Tuesday; it showed a slight rise in October. [ID:nLN230070]. Friday brings consumer and business confidence data for the whole euro zone, plus the official measure of inflation expectations. (andrew.torchia@reuters.com)

SWEET WARS

The battle for British confectioner Cadbury CBRY.L moves towards its end game as Ferrero of Italy and U.S.-based Hershey debate whether to enter the fray against hostile bidder Kraft. A Dec. 7 deadline for Kraft to produce the details of its $16 billion bid approach which will start the 60-day clock on a shareholder decision. Investors say Kraft is still the likely victor given the funding obstacles facing a Ferrero-Hershey pairing, and there's half an eye on Switzerland's Nestle, which has yet to show its hand. (chris.wickham@reuters.com)

EUROPEAN UNION JOBS

Next week the president and foreign policy chief will take up their jobs and EU Commission President Jose Manuel Barroso will start choosing the rest of the 27-person Commission, or executive. It is a long process because it involves more negotiations, balancing of countries' interests, and then hearings in the European Parliament to get the commissioners installed. Trade, competition and internal market posts to be fought over. [EU/LOOK] (janet.mcbride@reuters.com)

CLIMATE

There are a few meetings left before the Copenhagen summit on climate change when a draft of a political deal is due to be approved. EU Environment ministers meet on Monday for informal debate and are expected to tidy up the loose ends of the EU's negotiating position. U.N. climate chief Yvo de Boer gives a webcast news conference about his expectations for Copenhagen on Wednesday. (janet.mcbride@reuters.com)

ECONOMIC DATA MONDAY, NOV 23 0758 - French flash PMIs Nov 0828 - German flash PMIs Nov 0858 - Euro zone flash PMIs Nov TUESDAY, NOV 24 0700 - German Q3 GDP detailed 0700 - German import prices (24-27) 0745 - French business climate, Nov 0745 - French housing starts, Oct 0750 - French consumer spending 0815 - Swiss payrolls Q3 0900 - German IFO industrial sentiment, fcast 92.5 vs 91.9 1000 - Euro zone industrial orders, Sept WEDNESDAY, NOV 25 0700 - German GfK consumer sentiment index, Dec 0830 - Italian consumer confidence, Nov 0900 - Italian retail sales, Sept 0930 - UK Q3 GDP second release THURSDAY, NOV 26 0830 - Italy business confidence, Nov 0900 - Eurozone M3 money supply and private loans 0900 - Italy non-EU trade, Oct 1100 - UK CBI distributive trades survey, Nov FRIDAY, NOV 27 0745 - French consumer confidence Nov 0900 - Italy wages - Oct 1000 - Euro zone business and consumer sentiment, inflation expectations, Nov 1030 - Swiss KOF industrial sentiment index TAKE-A-LOOK-Five world markets themes next week [MKT/THEMES] Global markets weekahead [MKTS/GLOB]

(editing by Elizabeth Piper)