European Factors to Watch-Shares seen inching down ahead of data

Tue Jun 3, 2014 2:33am EDT

(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)
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  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)