European Factors to Watch-Shares seen rebounding on China data
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.
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