European Factors -- Shares set to track U.S. market lower

LONDON, July 22 (Reuters) - European shares were set to fall on Tuesday,
tracking losses in U.S. equities after results from American Express (AXP.N) and
Apple (AAPL.O) disappointed investors.

At 0623 GMT, the DJ Euro Stoxx 50 STXEc1 futures fell 1 percent, while
futures for Germany's DAX FDXc1 dropped 0.6 percent and for France's CAC
FCEc1 lost 1.1 percent. The pan-European FTSEurofirst .FTEU3 index rose 0.5
percent in the previous session.

U.S. stocks slipped on Monday as oil turned higher after a sharp drop the
week before and as a raft of companies reported disappointing results.

Later on Tuesday, investors will eye a slew of results from more major U.S.
companies, including Fifth Third Bancorp (FITB.O), Lockheed Martin Corp (LMT.N),
United Parcel Service (UPS.N), Yahoo (YHOO.O) and Wachovia Corp WB.N.

On the economic front, investors will eye Italian consumer confidence data
for July at 0730 GMT, while at Bank of England Governor Mervyn King and Deputy
Governor John Gieve at Treasury Select Committee are due to speak on banking
reform at 0845 GMT.

----------------------MARKET SNAPSHOT AT 0624 GMT----------------------

LAST PCT CHG NET CHG

S&P 500 .SPX 1,260.00 -0.05% -0.68
NIKKEI .N225 13,184.96 2.98% 381.26
MSCI ASIA EX-JP .MIASJ0000PUS 473.96 0.03% 0.12
EUR/USD EUR= 1.5924 -0.01% -0.0002
USD/JPY JPY= 106.53 0.11% 0.1200
10-YR US TSY YLD US10YT=RR 4.052 -- 0.01
10-YR BUND YLD EU10YT=RR 4.627 -- -0.01
SPOT GOLD XAU= $967.20 0.20% $1.90
US CRUDE CLc1 $130.53 -0.39% -0.51
----------------------------------------------------------------------

* Gold above $960 on dollar, platinum hits 2-mth low [ID:nSP218707]
* US STOCKS-Stocks slip on oil, drugs; Apple, Amex drop late [ID:nN21457455]
* Nikkei rises 1.3 pct on trading firms but techs hurt [ID:nT172164]
* Dollar steady but capped by financial concerns [ID:nT287343]
* TREASURIES-Slip in Asia, regional bank earnings eyed [ID:nT305076]
* Oil eases as Dolly unlikely to hit U.S. production [ID:nSP30549]
* GLOBAL MARKETS-Asia stocks dip on slowing consumer demand [ID:nSP187537]

COMPANY NEWS:

ERICSSON (ERICb.ST)

Telecom equipment maker Ericsson (ERICb.ST) reported on Tuesday
better-than-expected second-quarter earnings excluding restructuring charges,
but those came in much higher than forecast at 1.8 billion Swedish crowns ($302
million). [ID:nL22421577]

VODAFONE (VOD.L)

The mobile phone group posted first-quarter revenue in line with forecasts
but said full-year revenue was expected to be around the bottom of its
previously stated range due to economic weakness. [ID:nWLA6607]

CONTINENTAL (CONG.DE)

Schaeffler raised its takeover offer for Continental to 70.12 euros per
share from 69.37 euros. [ID:nWEA2550]

Separately, German business daily Handelsblatt quoted an unidentified
institutional investor as saying fair value for Conti was at least 80 euros per
share.

A senior Conti executive told Reuters the group's top management is united
against Schaeffler's unsolicited bid. [ID:nL21794262] [CONG.DE-E]

ROCHE HOLDING AG (ROG.VX)

Roche said on Tuesday it is acquiring Mirus, for $125 million, to advance
research in the field of RNAi delivery. [ID:nWEA2559]

Also, U.S. biotechnology company Genentech Inc DNA.N and suitor Roche
Holding AG will meet on Tuesday to discuss the Swiss company's bid to buy
Genentech stock it does not already own, Roche said. [ID:nBNG9436]

DRESDNER BANK (ALVG.DE) HBOS HBOS.L

Dresdner Bank said it is under no pressure to sell leftover shares in
British bank HBOS it is forced to buy after shareholders massively refused to
take up a rights issue. [ID:nL21802163]

The Daily Telegraph said Morgan Stanley and Dresdner Kleinwort, which
underwrote HBOS's 4 billion pounds rights issue, will own almost 10 percent of
the banking group after the capital raising was shunned by investors.

NOKIA (NOK1V.HE)

Chip maker Texas Instruments Inc (TXN.N) reported weak quarterly results
late on Monday and it gave bleak comments on the future as customers slow orders
due to a poor economy. Nokia is its largest mobile client. [ID:nN21453685]

HSBC (HSBA.L)

HSBC, whose $6.3 billion bid to buy Korea Exchange Bank (004940.KS) has
stalled over a legal saga, pledged on Tuesday to keep KEB listed and name local
directors if the acquisition goes through. [ID:nSEO266879]

TOMTOM (TOM2.AS)

The Dutch navigation devices maker TomTom reports a sales and profit
rebound, meeting analysts' expectations after a first-quarter slump.

TomTom, which said it sold 3.1 million units in the second quarter for sales
of 453 million euros ($720 million), says demand for its products had held up.

NORSK HYDRO (NHY.OL)

The Norwegian aluminium producer said second-quarter results fell due to
rising input costs affecting the entire industry, and added that cost pressures
were likely to remain for some time. [ID:nOSL001411]

ACTELION (ATLN.VX)

Second-quarter net profit at Swiss biotech group Actelion fell to 79 million
Swiss francs ($77.45 million), hit by higher research costs and the weak U.S.
dollar, but came in just ahead of forecasts. [ID:nL22812882]

LOGITECH (LOGN.VX)

Logitech International, the world's largest maker of computer mice, posted
an 11.5 percent rise in first-quarter net profit on Monday, boosted by the
strong performance of Harmony-brand remotes. [LOGN.VX-LEN]

NORDEA (NDA.ST)

The Nordic region's biggest bank by value, posted second-quarter operating
profit just below market expectations and stuck by its long-term financial
targets despite global economic uncertainties. [ID:nSAC012687]

ENTERPRISE INNS (ETI.L)

Britain's second-biggest pubs group, said group earnings before interest,
tax, depreciation and amortisation had come under pressure during the first 42
weeks of its financial year due to a continuing decline in beer sales.
[ID:nWLA6604]

TUI (TUIGn.DE)

Singapore's Neptune Orient Lines (NEPS.SI) has formally expressed its
interest in buying Hapag-Lloyd, two sources briefed on the deal said on Tuesday.
[ID:nSIN51993] [ID:nL21557437] [TUIGn.DE-E]

SUEZ ENVIRONNEMENT (SEVI.PA),

The water and waste company, to be separated from newly merged energy giant
Suez GDF, will start trading on the stock market on Tuesday at a reference price
of 14 euros per share. [ID:nL21869467]
(Reporting by Rebekah Curtis)