European Factors to Watch - Shares seen lower, miners in focus
* Adds futures, quotes, company news By Francesco Canepa LONDON, Dec 11 (Reuters) - European stocks are seen opening slightly lower on Wednesday as uncertainty over the U.S. monetary policy sapped appetite for risky assets, with copper miners likely to be hit after a bearish update from an Australian peer. At 0732 GMT, futures for the Euro STOXX 50, Britain's FTSE 100 , Germany's DAX and Britain's FTSE 100 were down 0.3 percent while contracts on France's CAC were flat. The euro zone's Euro STOXX 50 index broke below its 50-day simple moving average and an intermediary support at 3,015 earlier this months and it was now struggling to regain ground, calling for caution in the coming weeks. "These technical events jeopardize the medium-term bullish dynamic," Philippe Delabarre, an analyst at Trading Central, said. Mining stocks in Australia sold off, with Oz Minerals, the country's third-biggest copper producer, down 15.2 percent after a disappointing production forecast. Australia-listed shares in BHP Billiton fell 1.7 percent despite the world's largest miner announcing that its U.S. shale business should generate cash from 2016, contributing almost $3 billion a year to the group by the end of the decade. Banking shares will also be in focus after Spain's Santander agreed to buy HSBC's 8 percent stake in Bank of Shanghai. Royal Bank of Scotland's turnaround efforts were dealt a major blow as its finance director, Nathan Bostock, resigned to join Santander after just 10 weeks in the job. Wall Street and most Asian share markets lurched lower overnight as uncertainty over the timing of a reduction in the Federal Reserve's equity-friendly stimulus programme led investors to continue to take profit on a solid rally in stocks this year. The Fed's policy-setting Federal Open Market Committee meets Tuesday and Wednesday next week, with the jury still out on whether it will start scaling back the bank's monthly asset purchases, which have helped shares in the pan-European FTSEurofirst 300 rise around 16 percent since they were announced in September 2012. Investors will also focus on the Fed's future guidance for interest rates, with the Eurodollar and Fed fund futures are not fully priced for a first rate rise until the end of 2015. News that U.S. budget negotiators had reached a provisional two-year deal to avoid another government shutdown offered some relief about the U.S. economy but it was also seen as providing more room for the Fed to dial back its stimulus scheme earlier. ------------------------------------------------------------------------------- > GLOBAL MARKETS-Asian shares lose altitude, bonds underpinned > U.S. stocks fall after record; Fed remains in focus > Nikkei falls as investors unload risky assets > U.S. bond prices rise as higher yields draw buyers > Dollar index near 6-week low, euro helped by year-end flows > Gold takes breather after rally but still near 3-wk high > London copper near one-month peak on steady China demand > Brent stays above $109; spread with WTI eyed COMPANY NEWS NOKIA An Indian court will issue on Thursday its verdict on Nokia's appeal against the seizure by tax authorities of its local factory after a tax dispute, lawyers for the company and the tax department said on Wednesday. EADS The Airbus parent was poised to set out a two-tier strategy stressing growth in civil jetliners coupled with a forecast of flat defence and space activities throughout the decade. Rival Boeing forecast industry jetliner deliveries in 2014 would total $112 billion and that 95 percent of deliveries would be split between Boeing and Airbus. SANOFI The French drugmaker said the U.S. Food and Drug Administration has granted a six-month priority review status for its application for eliglustat, an experimental oral treatment for patients with Gaucher disease.
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