European Factors-Shares set to fall on Greece worries

LONDON, Nov 1 (Reuters) - European shares were set to fall sharply on
Tuesday, on renewed worries about the euro zone debt crisis after Greece's prime
minister called a referendum on the latest bailout deal.
The fall for European shares would add to losses in the previous session.
At 0736 GMT, futures for the Euro STOXX 50 were 3.1 percent lower,
those for Germany's DAX were 3.4 percent lower and those for France's
CAC-40 were 2.5 percent lower.
Greek premier George Papandreou threatened the euro zone with a new crisis
with his shock announcement that he will hold a referendum on the last-minute
bailout deal struck only last week to try to contain the bloc's debt mountain.

Miners are likely to be under pressure, after metals prices fell, following
weak data from the world's top metals user. China's big factories ran at their
slowest pace in almost three years in October as new orders and exports slowed.
Most Asian markets fell on Tuesday.
"China is evidently cooling on the scale of its involvement in the bail-out
whilst the Greek PM has shocked markets with the announcement of a referendum to
allow the electorate to have its own say in the plan and with more elements
adding to the uncertainty like this, it seems likely that the turbulent market
conditions will prevail for some time yet," said Peter Stanhope, institutional
trader at IG Markets.
Wall Street closed its best month in 20 years on a down note on Monday as
the failure of trading firm MF Global Holdings Ltd and new worries about
Europe's debt crisis hammered financial shares.
The FTSEurofirst of leading shares index fell 2.2 percent to close
at 996.01 points on Monday, on renewed worries about Italy's debt levels.
However, the index rose 7.9 percent in October, driven by signs of progress in
policymakers' efforts to tackle the euro zone crisis.
The index is down 11.2 percent in 2011. As well as the euro zone crisis,
investors have worried about slowing growth in major economies.
British third-quarter GDP data, due at 0930 GMT, may provide further
evidence of what is worrying investors. Although the data is likely to show a
pick-up in growth, rising to 0.4 percent, from 0.1 percent in the second
quarter, this may not be enough to alter some economists' view that Britain is
teetering on the brink of recession again.
In the United States, manufacturing and construction data is scheduled for
release at 1400 GMT, giving clues on the strength of the recovery in the world's
biggest economy.

MARKET SNAPSHOT AT 0728 GMT
LAST PCT CHG NET CHG
S&P 500 1,253.30 -2.47 % -31.79
NIKKEI 8,835.52 -1.7 % -152.87
MSCI ASIA EX-JP -1.67 % -8.31
EUR/USD 1.376 -0.69 % -0.0096
USD/JPY 78.09 -0.06 % -0.0500
10-YR US TSY YLD 2.097 -- -0.02
10-YR BUND YLD 2.000 -- 0.00
SPOT GOLD $1,713.40 -0.03 % -$0.55
US CRUDE $91.88 -1.41 % -1.31

* GLOBAL MARKETS-Greece stokes debt fears,riskier assets hit
* US STOCKS-Wall St down as MF Global falls victim to Europe
* FOREX-Yen wary of more intervention; euro slumps
* TREASURIES-U.S. 10-year notes nudge lower after surge
* Oil prices slip; FOMC, G20 meetings eyed
* PRECIOUS-Gold edges down on dollar, Europe uncertainty
* METALS-Copper off on China factory slowdown,euro zone woes

COMPANIES
CREDIT SUISSE
The Swiss bank Credit Suisse announced another 1,500 job cuts and said it
was slashing risk-weighted assets in fixed income as it reported poor
third-quarter earnings at its investment bank.

G4S
The British security firm has pulled the plug on its planned 5.2 billion
pounds ($8.4 billion) acquisition of Denmark's ISS after failing to
secure shareholder support for the deal.

DANSKE BANK
The Danish bank reported a steep drop in third-quarter pretax earnings, hit
by a plunge in trading income, and said it would launch a programme to cut group
costs by 10 percent over three years.

KVAERNER
Norwegian offshore engineering company reported core quarterly profit ahead
of expectations and said it expected lower profit ahead until it won more
contracts to fill its order book.

IMPERIAL TOBACCO
The world's fourth biggest cigarette group was cautiously upbeat on Tuesday
after the ending of a price war in Spain as it matched forecasts with a 5.1
percent rise in annual earnings.

SANDVIK
The Swedish specialty steel and tool maker posted a slightly bigger
third-quarter core operating profit than expected and said uncertainty around
macroeconomic conditions had increased.

DSM
The Dutch food and chemicals group said government budget cuts and lower
business confidence had led to weaker demand from the electronics, electrical
and construction markets, as it posted a 37 percent rise in quarterly profit.

SIEMENS
Indicated 2.0 percent lower
The group plans to grow turnover at its environment-related activities to 40
billion euros ($56 billion) by 2014 from around 28 billion in 2010, board member
Roland Busch told WAZ group newspapers. He said Siemens was sticking to plans to
float Osram at "a later date".LEGAL & GENERAL
The British life insurer said it was set to generate close to 1 billion
pounds ($1.6 billion) in cash this year as it reported flat nine-month sales.

AEGIS
The British media buyer outperformed peers to thump third-quarter forecasts
with organic revenue growth of 11.2 percent, enabling it to raise its 2011
outlook and tout its confidence for the future.