European Factors to Watch-Shares seen opening lower

Mon Mar 4, 2013 1:35am EST

LONDON, March 4 (Reuters) - European shares were seen opening lower on
Monday, with traders citing concerns over U.S. budget cuts, Italy's political
deadlock and Chinese plans for tighter controls on its property sector as
reasons for the likely fall.    
    Financial spreadbetters expected Britain's FTSE 100 to open 26 to 48
points lower, or down by as much as 0.8 percent. Germany's DAX was seen
opening 21 to 29 points lower, or down by as much as 0.4 percent while France's
CAC 40 was seen opening 5 to 11 points lower, or down by as much as 0.3
    A sell-off in Chinese equities dragged Asian shares down sharply on Monday,
as worries about Beijing tightening its grip on the property sector compounded
weak sentiment already dampened by a patchy global growth outlook.
    Capital Spreads dealer Jonathan Sudaria said that ongoing concerns over U.S.
budget cuts - referred to as the "sequester" - would continue to prevent equity
markets from gaining much ground in the near term.
    "European equity markets are set to edge lower on the open as sequester
uncertainty bites," Sudaria wrote in a research note.    
 MARKET SNAPSHOT AT 0630 GMT                        
                                   LAST    PCT CHG  NET CHG
 S&P 500                       1,518.20     0.23 %     3.52
 NIKKEI                        11,652.2      0.4 %    45.91
 MSCI ASIA       <.MIASJ0000P    546.27    -1.54 %    -8.61
 EX-JP           US>                                
 EUR/USD                         1.3012    -0.06 %  -0.0008
 USD/JPY                          93.40    -0.17 %  -0.1600
 10-YR US TSY                     1.836         --    -0.01
 10-YR BUND YLD                   1.408         --    -0.01
 SPOT GOLD                     $1,578.4     0.23 %    $3.60
 US CRUDE                        $90.43    -0.28 %    -0.25
  > GLOBAL MARKETS-Asian shares tumble; property curbs spark China sell-off 
  > US STOCKS-Wall Street advances as data outweighs budget cuts 
  > Nikkei edges up 0.4 percent on gains in financials, real estate 
  > TREASURIES-Prices rise as spending cuts point to weaker growth 
  > FOREX-Yen up broadly on safe-haven flows as China equities slump on property
  > PRECIOUS-Gold prices firm on Asia buying, upbeat US data weighs 
  > METALS-Copper steady on bargain hunting; China property worries weigh 
  > Brent crude oil erases 2013 gains, slips on US budget cuts
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.