European Factors to Watch-Shares seen rebounding on China data

Mon Sep 2, 2013 2:29am EDT

LONDON, Sept 2 (Reuters) - European shares were expected to bounce back on
Monday, helped by upbeat Chinese manufacturing data and U.S. President Barack
Obama's move to consult Congress before going ahead with a military strike
against Syria.
    Mining shares could outperform the wider market, tracking a sharp rise in
metals prices, on data showing the manufacturing sector in China, the world's
largest metals consumer, expanded at the fastest pace in more than a year in
August. Copper prices  rose 2.3 percent. 
    Investors' nervousness also diminished after U.S. President Barack Obama
decided to seek congressional approval before using military force against Syria
in response to a chemical attack blamed on the Syrian government. 
    "Obama, like his UK counterpart, David Cameron, is likely to face staunch
opposition from both inside and outside his party, to military action, with
memories of the hugely unpopular war in Iraq still fresh in people's memories,"
Craig Erlam, analyst at Alpari, said in a note.
    At 0622 GMT, futures for the Euro STOXX 50, Britain's FTSE 100
, Germany's DAX and France's CAC were 0.8 to 1.1 percent
higher. 
    The euro zone's blue chip Euro STOXX 50 index, which fell 1.3
percent to 2,721.37 points on Friday, is also likely to gain in line with the
overall market. Charts showed that the overall technical outlook for the index
has improved.
    "A volatile consolidation, so far trend-confirming to the upside in nature,
has recently become established below the minor resistance zone around 2,850
points," Commerzbank said. 
    "The overall technical situation suggests that in 2013 we are still likely
to see attempts to overcome the zone around 2,850 points towards the multi-year
resistance zone between 3,050 and 3,080 points."
    Trading is likely to be light as U.S. financial markets are closed for the
Labor Day holiday.
    The FTSEurofirst 300 index of top European shares fell 1 percent on
Friday to 1,195.01 points, the lowest close since mid-July. Its 2.3 percent fall
last week was the biggest since June. On Monday, Japan's Nikkei rose 1.5
percent.
    
-------------------------------------------------------------------------------
  MARKET SNAPSHOT AT 0624 GMT: 
                                               LAST    PCT CHG   NET CHG
     S&P 500                               1,632.97    -0.32 %      -5.2
     NIKKEI                               13,572.92     1.37 %    184.06
     MSCI ASIA EX-JP                         512.13     0.84 %      4.26
     EUR/USD                                 1.3217    -0.02 %   -0.0003
     USD/JPY                                  98.56     0.42 %    0.4100
     10-YR US TSY YLD                         2.789         --      0.00
     10-YR BUND YLD                           1.894         --      0.04
     SPOT GOLD                            $1,394.29     -0.1 %    -$1.40
     US CRUDE                               $106.29    -1.26 %     -1.36
  > Asian shares, Aussie dlr lifted by China data, yen retreats     
  > Wall Street falls, ends worst month since May 2012                     
  > Nikkei rises, led by Olympics-related and consumer loan shares         
  > Prices little changed on weak data, Syria risk before holiday        
  > Yen slips as Syria worries ease, Aussie dlr cheers China data        
  > Gold falls 1 pct as possible U.S. strike on Syria delayed            
  > London copper climbs more than 2 pct as China outlook brightens     
  > Brent near $113, hits one-week low as Syria worries ease              
    
    COMPANY NEWS
    VODAFONE 
    Verizon Communications and Vodafone plan to announce a $130 billion
deal on Monday that will give the U.S. telecom giant complete control of Verizon
Wireless, subject to final board approval, people familiar with the matter said.
 
 
    ILIAD 
    The French telecom operator reported a 78 percent jump in first-half net
profit as customers flocked to its cheap mobile-phone contracts. 
    
    SANOFI 
    The European Commission has granted marketing authorisation for the
drugmaker's Aubagio multiple sclerosis treatment, the company said.
 
    
    ROCHE 
    Swiss drugmaker Roche said on Monday the European Commission had approved a
new formulation of its breast cancer drug Herceptin which allows the medicine to
be administered more quickly. 
    
    HSBC 
    The bank will stop offering wealth management products in Bahrain, Jordan
and Lebanon as the British lender continues to exit small or insufficiently
profitable operations globally as part of a strategic review, it said on
Saturday. 
    
    TULLOW OIL 
    British oil firm Tullow Oil said a well off the coast of Mozambique failed
to find oil or gas, a blow to the company's exploration hopes in the East
African country. 
    
    SAGE GROUP 
    Chief executive Guy Berruyer said the software company would focus on
selling payments services to existing customers, unlike rivals that look at
attracting new customers, in an attempt to double organic growth within three
years, the Financial Times reported on Monday. 
    
    DEUTSCHE BANK 
    Deutsche Bank said its dividend payouts will only rise once bank rules have
been fulfilled, Chief Financial Officer Stefan Krause told Frankfurter
Allgemeine Sonntagszeitung. 
    
    LUFTHANSA 
    Lufthansa's air freight business failed to pick up over the summer period
although overall business was "decent", Chief Executive Christoph Franz told
Frankfurter Allgemeine Sonntagszeitung. 
    
    ALSTOM 
    The power and transport engineering group is preparing a savings plan, which
it could soon submit to its board, Sunday paper Le Journal du Dimanche said,
citing an internal newsletter. 
    
    ZURICH INSURANCE GROUP 
    Josef Ackermann resigned because he saw the suicide of Zurich Insurance
Group's finance chief curbing his ability to drive through change to revive
profits, a source close to the former chairman said on Sunday.