UPDATE 1-European Factors to Watch-Shares seen up; G20 and Syria in focus
LONDON, Sept 5 (Reuters) - European equity futures rose on Thursday, helped by growing signs of a global economic recovery, although worries over conflict in Syria and fewer stimulus measures from the U.S. Federal Reserve in future may curb gains on the stock market. The futures contract for the euro zone's Euro STOXX 50 index rose by 0.3 percent by 0620 GMT. Germany's DAX futures rose 0.2 percent, France's CAC futures also advanced 0.2 percent while Britain's FTSE 100 futures contract rose 0.3 percent. Germany's bund futures opened 30 ticks lower. Increasing signs of an economic recovery in Europe have led several strategists to raise their ratings on European shares, with Citi and UBS this week both upgrading the region. However, concerns that the Fed may soon to start to scale back economic stimulus measures that have driven much of this year's global equity rally have kept stock markets in check over the past month. A possible U.S.-led military strike on Syria has also created unease, with talks on how to deal with Syria's civil war likely to dominate the G20 meeting in Russia on Thursday of the world's major nations. Terry Torrison, managing director at Monaco-based McLaren Securities, felt equity markets could fall in September but then expected them to recover their upwards trajectory to finish 2013 on a strong note. "I can see it being a nervy market this month. There could be a bit of short, sharp pain but I think we'll then rally back up towards the end of the year," he said. The Bank of Japan on Thursday maintained a monetary stimulus programme launched in April. The European Central Bank (ECB) meets later in the day, with the ECB widely seen keeping rates low for an "extended period". MARKET SNAPSHOT AT 0620 GMT LAST PCT CHG NET CHG S&P 500 1,653.08 0.81 % 13.31 NIKKEI 14,064.82 0.08 % 10.95 MSCI ASIA 518.85 1.09 % 5.57 EX-JP EUR/USD 1.3174 -0.25 % -0.0033 USD/JPY 99.81 0.06 % 0.0600 10-YR US TSY 2.917 -- 0.02 YLD 10-YR BUND YLD 1.975 -- 0.04 SPOT GOLD $1,385.14 -0.41 % -$5.70 US CRUDE $107.44 0.2 % 0.21 > GLOBAL MARKETS-Indian stocks lead Asian markets higher, rupee up > US STOCKS-Wall Street up as automakers, tech shares gain > Nikkei steady as Olympic bid, U.S data eyed > TREASURIES-Prices fall as stocks gain; nonfarm payrolls awaited > FOREX-Dollar off six-week high as US jobs, central bank decisions eyed > PRECIOUS-Gold climbs but stays below $1,400; Fed, India in focus > METALS-London copper steadies as dollar takes breather from gains > Brent rises above $115 as US Syria strike plan passes first hurdle COMPANY NEWS: EUROPEAN INSURERS: Europe's insurers spent up to 9 billion euros ($11.9 billion) between 2010 and 2012 as they struggled to meet standards set in a barrage of regulation introduced since the financial crisis, a report published on Thursday said. BMW /VOLKSWAGEN /DAIMLER : BMW brand sales in the United States jumped 45.7 percent to 24,523 in August. U.S. sales of VW's Audi were up 21.5 percent at 14,005 last month. VW's Porsche sales were up 10 percent at 3,327 vehicles. Mercedes-Benz's August U.S. sales rose 15.8 percent to 27,144 vehicles. THYSSENKRUPP : The supervisory board of ThyssenKrupp's European steel business is due to discuss "optimisation" of its management at a meeting on Thursday, ThyssenKrupp said. Handelsblatt cited supervisory board sources as saying Steel Europe's management board is to be shrunk to four from currently five members. BANCO POPOLARE : Italian lender Banco Popolare said on Thursday it had sold its 2.1 percent stake in domestic asset manager Azimut through an accelerated bookbuilding procedure reaping a net capital gain of 29.2 million euros ($38.54 million). FINMECCANICA : Italian defence group Finmeccanica said it has not signed a binding agreement for the sale of power unit Ansaldo Energia at the moment. THROMBOGENICS : Belgian biopharmaceutical company ThromboGenics said it had entered into an agreement with British peer Bicycle Therapeutics to develop and launch new drugs to treat opthalmic diseases. EUROPEAN BANKS/NY REGULATOR: New York's state banking regulator has ordered local branches of half a dozen European banks to turn over details of their transactions with a Jordanian bank, along with documents related to Turkey's Uzan family, the subject of a series of legal actions over their business dealings.
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