Europe Factors-Shares set to fall for 7th straight day
(Adds futures, company news; updates snapshot table)
PARIS, June 9 (Reuters) - European stock index futures pointed to a lower open on Thursday, with shares set to fall for the seventh straight session as worries on the global economic outlook continue to rattle investors ahead of the end to the U.S. quantitative easing programme.
Tech shares will be in the spotlight after Texas Instruments TXN.N slashed its earnings and revenue forecasts and blamed the shortfall on major client Nokia's (NOK1V.HE) ailing cellphone business, and the Helsingin Sanomat reported the latter's chief technology officer has taken a leave of absence and is unlikely to return after disagreements over strategy at the struggling firm.
By 0637 GMT, futures for Euro STOXX 50 STXEc1, for Germany's DAX FDXc1 and for France's CAC FCEc1 were down 0.1 percent to 0.3 percent.
Equities worldwide have been hit recently by a slew of macroeconomic data signalling a slowdown in economic growth, and negative sentiment worsened when U.S. Federal Reserve Chairman Ben Bernanke gave no hint that the central bank would offer a third round of stimulus to the frail U.S. economic recovery.
The euro zone's blue-chip Euro STOXX 50 .STOXX50E index, which has tumbled 9 percent over the past six weeks, hit its lowest level since mid-March on Wednesday.
"The global economy is not tumbling, it's just going through a turbulence zone. We think that things will get better in the second half of the year," said Vincent Treulet, head of investment strategy at BNP Paribas Investment Partners, which has 551 billion euros ($808 billion) in assets under management.
"The next earnings season will be key. It could be the positive catalyst the market needs," Treulet said.
Investors awaited the European Central Bank's post-policy meeting news conference on Thursday for more insight on the outlook for interest rates and the central bank's view on the economy.
The ECB is expected to signal a July rate rise while continuing to provide banks with unlimited amounts of cash to help weaker lenders hit by the euro zone debt crisis. [ID:nLDE7550KT]
----------------------MARKET SNAPSHOT AT 0624 GMT--------------------
LAST PCT CHG NET CHG
S&P 500 .SPX 1,279.56 -0.42 % -5.38
NIKKEI .N225 9,467.15 0.19 % 17.69
MSCI ASIA EX-JP .MIASJ0000PUS 564.15 -0.83 % -4.70
EUR/USD EUR= 1.4621 0.31 % 0.0045
USD/JPY JPY= 80.11 0.25 % 0.2000
10-YR US TSY YLD US10YT=RR 2.951 -- 0.01
10-YR BUND YLD EU10YT=RR 3.055 -- 0.00
SPOT GOLD XAU= $1,535.01 -0.12 % -$1.79
US CRUDE CLc1 $101.43 0.68 % 0.70
GLOBAL MARKETS-Stocks dip; euro rises before ECB [ID:nL3E7H9049]
Wall St slips for a sixth day on growth concerns [ID:nN08265256]
Nikkei falls on econ worries, bargain-hunters limit losses [ID:nL3E7H906V]
FOREX-Euro pins hopes on ECB; kiwi bolstered by RBNZ [ID:nL3E7H83NR]
Brent oil rises to $118 on OPEC, US crude stocks [ID:nL3E7H9046]
PRECIOUS-Gold flat; palladium firms on auto recovery [ID:nL3E7H9034]
Copper steadies on weak dollar ahead of ECB meeting [ID:nL3E7H90BB]
Nokia's chief technology officer has taken a leave of absence and is unlikely to return after disagreements over the strategy of the struggling mobile phone company, the Helsingin Sanomat reported on Thursday. The report quoted unnamed sources as saying CTO Richard Green was unhappy with management decisions, including abandoning plans to launch phones based on the MeeGo operating system.
A U.S. judge will consider racketeering claims in a massive lawsuit against the Italian bank seeking money for Bernard Madoff's victims. The lawsuit is the biggest brought by bankruptcy trustee Irving Picard against defendants that allegedly benefited from Madoff's Ponzi scheme. Picard is seeking $19.6 billion in damages in the lawsuit, which could be tripled if he prevails and federal racketeering laws are applied. UniCredit has denied the allegations in the lawsuit. [ID:nN08256753]
REMY COINTREAU (RCOP.PA)
French spirits group Remy Cointreau (RCOP.PA) posted a 17.6 percent rise in full-year operating profit on Thursday, driven by strong demand for cognac in Asia, and it sharply reduced its debt.
The group announced on Wednesday a major oil discovery in deepwater Gulf of Mexico, located 250 miles southwest of New Orleans. [ID:nWEA5215]
BP's (BP.L) chief executive Bob Dudley gave a cool assessment of the company's chances of reviving a $16 billion share swap and Arctic exploration deal with Russia's Rosneft (ROSN.MM), saying talks on the tie-up had faded. Dudley was speaking at the launch of the company's annual statistical review of world energy markets in London. [ID:nLDE7570ZC]
BP's chief executive also said that Iraq's oil output is likely to be only half the government's official target at the end of this decade, due to infrastructure problems. [ID:nLDE7572CU]
Telefonica's call centre unit Atento sets the price for its stock market listing. Telefonica is offering shares in Atento at 19.25 euros to 25 each in a Madrid listing it hopes will raise up to 765 million euros. [ID:nLDE74O1EX]
Volkswagen workers aim to obtain a stake in the company, a spokesman for the works council said, as they had been promised in the company's takeover battle with Porsche (PSHG_p.DE). [ID:nLDE7571W4]
The German potash miner is now in exclusive talks to sell its garden fertiliser unit Compo to private equity investor Triton, a person familiar with the matter said. The talks over a sale worth about 200 million euros ($293 million) are in the final stretch. [ID:nLDE7572A7]
AIR FRANCE-KLM (AIRF.PA)
Europe's largest airline by revenue posted a 4.9 percent rise in May passenger traffic. [ID:nLDE75724Q]
Aeroports de Paris (ADP.PA) said it was in exclusive talks to sell a majority stake in its ground handling activities to airport services operator Groupe 3S. [ID:nN08264603]
CLUB MED (CMIP.PA)
The French holiday operator said first-half net profit doubled despite closing resorts in Tunisia and Egypt in January following uprisings against the countries' leaders. [ID:nWEA5239]
(Reporting by Blaise Robinson; Editing by Hans Peters)
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