Europe Factors to Watch-Shares set to halt sell-off; U.S. jobs data eyed
PARIS, Dec 6 (Reuters) - European stocks are set to inch up on Friday morning, halting a sharp four-day sell-off, as investors await U.S. jobs data, seeking clues on the outlook for the Federal Reserve's stimulus programme. At 0720 GMT, futures for Euro STOXX 50, for UK's FTSE 100, for Germany's DAX and for France's CAC were up 0.2-0.3 percent. According to a Reuters survey of economists, nonfarm payrolls, due at 1330 GMT, are expected to have increased by 180,000 last month while the unemployment rate is seen falling, which could bring the Fed a step closer to start trimming its massive quantitative easing programme this month. "This will not be enough to cause a December taper, but will probably be the most friendly outcome for the equity market - not too hot, not too cold is the line the equity bulls want to run with," IG market strategist Chris Weston wrote in a note. On Thursday, European shares retreated after data showed U.S. gross domestic product grew at an annualised 3.6 percent in the last quarter, the strongest pace since the first quarter of 2012, and well ahead of the 3.0 percent growth expected by economists. Shares increased their losses after the European Central Bank left interest rates unchanged and fell short of unveiling a new round of long-term loans, or LTRO, while ECB President Mario Draghi said the risks to the region's economic outlook were skewed to the downside. "After the surprise rate cut in November, the market had been expecting further aggressive measures from the ECB, so yesterday was a bit of a disappointment on that front, enough to cool down appetite for Southern Europe shares," a Paris-based equity and exchange-traded funds trader said. Shares in fragrance and flavour maker Givaudan will be in the spotlight on Friday after Nestle launched the sale of its entire 10 percent stake via an institutional private placement which could be worth 1.145 billion Swiss francs ($1.27 billion). ------------------------------------------------------------------------------- MARKET SNAPSHOT AT 0723 GMT: LAST PCT CHG NET CHG S&P 500 1,785.03 -0.43 % -7.78 NIKKEI 15,299.86 0.81 % 122.37 MSCI ASIA EX-JP 552.66 -0.01 % -0.08 EUR/USD 1.366 -0.05 % -0.0007 USD/JPY 102.13 0.34 % 0.3500 10-YR US TSY YLD 2.870 -- 0.01 10-YR BUND YLD 1.867 -- 0.01 SPOT GOLD $1,233.30 0.72 % $8.80 US CRUDE $97.47 0.09 % 0.09 > GLOBAL MARKETS-Shares sluggish, bond yields climb into US data > US STOCKS-Fed uncertainty sends the Dow, S&P 500 down for 5th day > Tokyo's Nikkei share average closes up 0.81 pct > FOREX-Dollar mired near 5-week low ahead of U.S. jobs data > PRECIOUS-Gold set for weekly drop; all eyes on U.S. jobs report > METALS-London copper treads water ahead of U.S. labour report > Brent edges over $111; all eyes on U.S. jobs report COMPANY NEWS: GIVAUDAN, NESTLE Nestle has launched the sale of its entire 10 percent stake in Swiss fragrance and flavour maker Givaudan, worth 1.145 billion Swiss francs ($1.27 billion). ALCATEL-LUCENT, STMICROELECTRONICS The telecom gear maker will rejoin France's blue-chip CAC 40 index, replacing STMicroelectronics, market operator NYSE Euronext said on Thursday. Separately, Alcatel announced the results of its capital increase, with final gross proceeds of 956.7 million euros through the issuance of 455.6 million new ordinary shares. BANCA CARIGE Ratings agency Standard & Poor's said on Thursday it lowered to "D" from "CCC-" its rating on a subordinated convertible hybrid bond, due 2015, issued by Carige, which is one of 15 Italian banks subject to the European Central Bank's asset review. E.ON The German utility sold its catering unit Arena One, which provides food to the guests of Bayern Munich home stadium, the Allianz Arena, to Austrian firm Do&Co for an undisclosed price. LUFTHANSA Leading European Union states Britain, France and Germany propose scrapping a plan to make all aircraft pay a carbon charge for using EU airspace, documents seen by Reuters show. VOLKSWAGEN Brazilian steelmakers are proposing a price increase between 7-10 percent for local automakers including Volkswagen, a source familiar with negotiations told Reuters on Thursday. SGL CARBON The company placed 250 million euros worth of senior secured notes due 2021 with a coupon of 4.875 percent annually, partially extending the debt maturity profile into 2021 and providing additional financial flexibility. SKY DEUTSCHLAND The German pay-TV operator will buy all of Constantin Sport Holding's TV production company PLAZAMEDIA as well as a 25.1 percent stake in Sport1 GmbH and Constantin Sport Marketing GmbH. GDF SUEZ The French energy company said it had won the right to explore six additional onshore blocks for natural gas in the Brazilian state of Bahia in partnership with Petrobras.
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