Europe Factors to Watch-Shares seen steady ahead of U.S. payrolls, ECB

Thu Jul 3, 2014 2:19am EDT

July 3 (Reuters) - European stocks were seen steady in early trade on
Thursday, halting a two-session rally, as investors awaited the U.S. payrolls
figures before chasing stocks higher.
    At 0618 GMT, futures for Euro STOXX 50, for UK's FTSE 100,
for Germany's DAX and for France's CAC were flat to up 0.1
percent.
    On Wednesday, the ADP National Employment Report, seen as a harbinger for
the payrolls report, showed U.S. companies hired 281,000 workers in June,
marking the biggest monthly increase since November 2012 and well above market
expectations. 
    According to a Reuters poll of economists, payrolls probably increased
212,000 in June, marking the fifth consecutive month of job gains above 200,000,
which would cement views that economic growth has rebounded. 
    "Our analysis suggests that market participants should be prepared for
fireworks ahead of Independence Day," Societe Generale analysts wrote in a note,
predicting job gains of 290,000.
    Investors will also focus on the European Central Bank's policy meeting on
Thursday. The attention will be on the details of the ECB's new stimulus
measures unveiled in June. 
    "No new action is expected, so for the bulls to really get animated they
will need to hear something along the lines that the threat of deflation has
gotten closer and/or that the threshold for quantitative easing has been
lowered," Capital Spreads trader Jonathan Sudaria wrote in a note.
    The FTSEurofirst 300 index has gained about 9 percent since
mid-March, lifted mostly by the ECB's stimulus package.
            
    Europe bourses in 2014: (link.reuters.com/pad95v)
    Asset performance in 2014: (link.reuters.com/rav46v)
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  MARKET SNAPSHOT AT 0619 GMT:
                                         LAST  PCT CHG  NET CHG
 S&P 500                             1,974.62   0.07 %      1.3
 NIKKEI                              15348.29  -0.14 %   -21.68
 MSCI ASIA EX-JP                       499.98   0.02 %     0.12
 EUR/USD                               1.3651  -0.06 %  -0.0008
 USD/JPY                               101.87   0.09 %   0.0900
 10-YR US TSY YLD                       2.621       --    -0.01
 10-YR BUND YLD                         1.289       --     0.00
 SPOT GOLD                          $1,322.46  -0.35 %   -$4.68
 US CRUDE                             $104.11  -0.35 %    -0.37
 
  > GLOBAL MARKETS-ASIAN STOCKS INCH DOWN, U.S. JOBS DATA ENTHRALL 
  > US STOCKS-WALL ST ENDS FLAT AHEAD OF PAYROLLS; S&P AT RECORD 
  > NIKKEI STEADY BEFORE U.S. PAYROLLS; TOSHIBA GAINS ON NUCLEAR DEAL REPORT 
  > FOREX-DOLLAR SUPPORTED BEFORE PAYROLLS, AUSSIE SAGS AFTER RBA COMMENTS 
  > PRECIOUS-GOLD HOVERS BELOW 3-MONTH HIGH; US JOBS DATA, ECB EYED 
  > METALS-LME COPPER HITS HIGHEST IN OVER 4 MONTHS ON FUND BUYING 
  > BRENT SLIPS BELOW $111 AS LIBYAN PM DECLARES OIL CRISIS OVER 
    
    COMPANY NEWS:
    
    BNP PARIBAS 
    An official at the U.S. Securities and Exchange Commission broke ranks with
other commissioners and voted against granting BNP Paribas a waiver to continue
operating several investment advisory units in the United States.
 
    
    EURONEXT 
    European financial market operator Euronext said listings activity rose 8.7
percent in the first half to 57.6 billion euros ($78.6 billion) thanks to a
"substantial increase" in initial public offerings (IPOs). A total of eight
large-cap IPOs were completed, compared with one for the same period last year,
and 23 small and medium-sized company IPOs were completed in the first half,
against 10 a year ago, Euronext said. 
    
    TOTAL 
    French oil major Total TOTF.PA said on Thursday it has decided to develop
the Edradour gas field, in the West of Shetland area, after negotiating lower
costs with contractors, as well as buying a 60 percent stake in the neighbouring
Glenlivet field. 
        
    ZURICH INSURANCE GROUP AG 
    The group said it would take a hit of around $300 million to net income
after selling its Russian retail business to the OLMA Group, part of the
insurer's strategy to shed underperforming units. 
        
    INGENICO 
    The French IT systems group said it was in exclusive talks to buy
Amsterdam-based online service payment provider GlobalCollect for an enterprise
value of 820 million euros. 
    
    VOLKSWAGEN 
    Volkswagen VOWG_p.DE is preparing to launch a takeover bid for U.S. truck
maker Paccar PCAR.O next year, Daimler DAIGn.DE Trucks Chief Wolfgang Bernhard
told analysts at Bernstein Research. 
           
    JCDECAUX 
    The outdoor advertising group said it won a 15-year exclusive contract for
bus-shelters and freestanding back-lit panels in Cologne starting on Jan. 1.
 
    
    COFACE, NATIXIS 
    The credit insurer said the over-allotment option under its IPO was
exercised in full and the total size of the offering increased to approximately
957 million euros. As a result, owner Natixis will retain 41.35 percent of
Coface.
    
    DAIMLER 
    Daimler management wants to cut costs further at its truck plants in
Germany, an objective which could threaten around 2,000 jobs, labour
representative and deputy supervisory board chairman Michael Brecht said on
Wednesday.
    
    FRESENIUS 
    Fresenius on Wednesday said it had made an after-tax gain of approximately
34 million euros ($46.38 million) from the sale of a 5 percent stake in rival
Rhoen-Klinikum.
    
    K+S 
    Germany's K+S has seen potash prices stabilise as farmers refill inventories
that were depleted when the collapse of one of the world's two big cartels for
the fertiliser mineral plunged the sector into turmoil last year.
    
    ROCHE 
    An experimental antibody drug from Roche has produced promising results in
mid-stage tests for asthma, offering a new way to fight the breathing disorder.
    
    UBS 
    UBS AG's chief currency strategist has left the Swiss bank as part of its
efforts to cut costs and streamline operations, the Wall Street Journal reported
on Wednesday, citing two people familiar with the matter.
    

 (Reporting by Blaise Robinson; Editing by Anupama Dwivedi)
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