European Factors to Watch-Shares seen inching down ahead of data
(Adds futures prices, company news) By Lionel Laurent LONDON, June 3 (Reuters) - European stocks were seen giving up some of their recent gains on Tuesday ahead of fresh inflation and unemployment data from the eurozone. Recent economic data have pointed to a weaker-than-expected recovery for the single-currency bloc, though share prices have been supported by the prospect of fresh intervention from the European Central Bank when it meets this week. At 0625 GMT, futures for the Euro STOXX 50, Britain's FTSE 100, Germany's DAX and France's CAC were flat to 0.2 percent lower. "Traders in Europe are set to give a little back at this morning's open," CMC analyst Jasper Lawler said in a note to clients. Eurozone year-on-year inflation for May is expected to remain flat at 0.7 percent, while unemployment for April is also seen flat at 11.8 percent, according to Reuters polls. The euro traded near a 3-1/2-month low on expectations of fresh monetary easing by the ECB, helping Asian shares higher on Tuesday. Japan's Nikkei hit a two-month high and last traded up 0.8 percent while MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, nearing a one-year high hit last week. Asian shares were bolstered by the U.S. Institute for Supply Management's manufacturing activity index rising to 55.4 in May from 54.9 in April. They were also supported by a gauge of China's factory activity showing expansion at the fastest pace in five months in May. Europe bourses in 2014: (link.reuters.com/pad95v) Asset performance in 2014: (link.reuters.com/rav46v) ---------------------------------------------------------------- -------------- MARKET SNAPSHOT AT 0629 GMT: LAST PCT CHG NET CHG S&P 500 1,924.97 0.07 % 1.4 NIKKEI 15034.25 0.66 % 98.33 MSCI ASIA EX-JP 489.68 0.35 % 1.73 EUR/USD 1.3604 0.07 % 0.0010 USD/JPY 102.27 -0.09 % -0.0900 10-YR US TSY YLD 2.520 -- -0.01 10-YR BUND YLD 1.364 -- 0.00 SPOT GOLD $1,246.10 0.17 % $2.10 US CRUDE $102.60 0.13 % 0.13 > Nikkei leads gains in Asian shares after solid U.S. data > Dow, S&P end at records; Apple, Google drag on Nasdaq > Nikkei crests 15,000 for 1st time in 2 months on US data, weak yen > Yields rise before ECB meeting, U.S. payrolls report > Dollar near 4-mth high as data lifts sentiment, euro wary of ECB > Gold trades near 4-month low as stronger equities curb demand > METALS-Shanghai copper climbs near 3-mth peak after holiday > Brent holds near $109 as U.S., China economies seen improving COMPANY NEWS: ALLIANZ Bill Gross' Pimco Total Return Fund, the world's largest bond fund, posted $4.3 billion in net outflows in May, marking its 13th straight month of investor withdrawals despite achieving its best performance in four months, Morningstar data showed on Monday. BMW The carmaker intends to cut 100 million euros ($136 million) of German labour costs annually from 2015 onwards, German local newspaper Muenchner Merkur reported on Monday on its web page, citing workers' representatives. FIAT U.S. safety regulators are investigating Chrysler Group's 2012 recall of 744,822 sport utility vehicles in the United States after six consumers complained of inadvertent airbag deployments even after fixes were made. Transport Ministry releases May car sales (1600 GMT). WOLSELEY The building-materials supplier reported a 9.1 percent quarterly increase in trading profit for ongoing businesses, to 155 million pounds. It said the like-for-like revenue growth rate for the next six months would be about 4 percent. DEUTSCHE BOERSE The exchange operator said on Tuesday that the order book turnover at its cash markets decreased to 96.1 billion euros in May from 109.2 billion the previous year. OSRAM The lighting company said late on Monday its Chief Technology Officer, Peter Laier, is to leave effective June 30 due to differing views within the managing board about the direction of the business. CLUB MED The takeover battle for Club Mediterranee intensified on Monday after the French holiday resort operator agreed to open its books to a new potential bidder, Investindustrial, a fund led by Italian businessman Andrea Bonomi. EUTELSAT COMMUNICATIONS Spanish infrastructure firm Abertis ABE.MC on Monday said it was selling through an accelerated bookbuilding process its entire 5.01 percent stake in French satellite group Eutelsat Communications. ORANGE Telecommunications regulators in Mali have fined Orange's local unit 6.86 billion CFA francs ($14.23 million) for illegally using mobile bandwidth for a fixed-line service, a charge Orange has said it will challenge. (Reporting by Lionel Laurent; Editing by Atul Prakash)
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