Europe Factors-Shares set to rise as oil jumps above $71

(Adds futures, details, company news; updates snapshot)

PARIS, June 10 (Reuters) - European equities were poised to rise on
Wednesday, adding to the previous session's gains, as a rise in oil and metal
prices fuel a strong rally in heavyweight commodity-related shares.
Crude oil prices CLc1 jumped above $71 a barrel on Wednesday, after
settling above $70 in New York for the first time in seven months on a
larger-than-expected fall in crude oil stocks and a forecast that falling oil
demand may have bottomed.

The dollar edged lower against a basket of currencies on Wednesday after
sliding the previous day when investors questioned whether the economy had
improved enough to justify talk of a Federal Reserve rate hike by the year-end.

By 0631 GMT, futures for the DJ Euro Stoxx STXEc1, for Germany's DAX
FDXc1 and for France's CAC FCEc1 were up between 1.1 percent and 1.2
percent, while financial spreadbetters expect Britain's FTSE 100 .FTSE to open
13 to 21 points higher, or as much as 0.5 percent.

"A weaker dollar and a bigger-than-expected decline in U.S. crude stocks...
are likely to provide some short-term cheer to the heavyweight petrochemicals
stocks, whilst renewed suggestions that the Chrysler-Fiat deal may now proceed
is also likely to help lift sentiment across the board," Matt Buckland, dealer
at CMC Markets, wrote in a note.

The U.S. Supreme Court on Tuesday cleared the way for the U.S.
government-backed sale of Chrysler LLC to a group led by Italian carmaker Fiat
SpA (FIA.MI), rejecting a request from Indiana pension funds and other opponents
of the transaction to delay the deal while they challenge Chrysler's sale to a
group led by Fiat. [ID:nN09378913]

----------------------MARKET SNAPSHOT AT 0634 GMT----------------------

LAST PCT CHG NET CHG

S&P 500 .SPX 942.43 0.35 % 3.29

NIKKEI .N225 9,991.49 2.09 % 204.67

MSCI ASIA EX-JP .MIASJ0000PUS 396.87 2.74 % 10.57

EUR/USD EUR= 1.4101 0.25 % 0.0035

USD/JPY JPY= 97.58 0.18 % 0.1800

10-YR US TSY YLD US10YT=RR 3.890 -- 0.03

10-YR BUND YLD EU10YT=RR 3.670 -- 0.03

SPOT GOLD XAU= $960.35 0.69 % $6.60

US CRUDE CLc1 $71.06 1.50 % 1.05

-----------------------------------------------------------------------

* Texas Instruments buoys U.S. tech stocks; Dow flat [ID:nLA268731]

* Higher commodities support Asia resource stocks [ID:nHKG180203]

* Nikkei hits 8-month high, led by resources [ID:nT371694]

* TREASURIES-Edge down in Asia before 10-year auction [ID:nT183882]

* Dollar slips, market seeks clues on U.S. rates [ID:nT191374]

* Gold rises as dollar remains pressured, ETF flat [ID:nT184230]

* Oil rises near $71 after large fall in U.S. crude stocks [ID:nSP420497]

* Copper up 2 percent, tracing LME rally [ID:nSHA183060]

COMPANY NEWS:

FIAT (FIA.MI)

The U.S. Supreme Court on Tuesday cleared the way for the sale of Chrysler
LLC to Fiat, and General Motors Corp GMGMQ.PK began to revamp its widely
criticized board by naming a former AT&T Inc (T.N) chief executive chairman.
[nN26485137]. Chrysler is aiming to close its sale to a group led by Fiat
by 1400 GMT on Wednesday, according to a person familiar with the plans.
[ID:nWEN0283]

INDITEX (ITX.MC)

Spanish clothing group Inditex, owner of fashion chain Zara, reported first
quarter net profit of 184 million euros ($255.3 million), just below a Reuters
forecast of 187 million euros in a Reuters poll.

LLOYDS BANKING GROUP (LLOY.L)

Lloyds Banking Group is in talks to sell part of Insight, the investment
management operation it inherited when it took over struggling rival HBOS last
year, the Financial Times reported. For details, see:[ID:nB471244]

BHP BILLITON (BLT.L)

The miner has accepted a 58 percent cut in metallurgical coal prices for the
current shipping year with key global customers, the company said on
Wednesday.For details, see:[nSYU006668]

BRITISH AIRWAYS (BAY.L)

The airline is demanding significant pay cuts from its cabin crew and pilots
after data from the Civil Aviation Authority revealed that the carrier is paying
them twice as much as rival airlines, The Times said.

IBERIA (IBLA.MC)

Iberia's (IBLA.MC) May passenger traffic fell 11.4 percent year on year with
its long-distance business to Latin America suffering most amid a global
downturn and the swine flu outbreak. See [nMDT006460]

REMY COINTREAU (RCOP.PA)

French wines and spirits group Remy Cointreau said on Wednesday its
full-year 2008/09 current operating profit fell 14.2 percent to 137 million
euros ($190 million), hit by difficult economic conditions.

CLUB MEDITERRANEE (CMIP.PA)

French hotel group Accor said it sold a stake of around 4 percent in holiday
group Club Mediterranee (CMIP.PA) to Groupe Credit Agricole (CAGR.PA) for 10
million euros. For details, double click on [CMIP.PA]

VALEO (VLOF.PA)

The car parts maker said there were signs that destocking by carmakers was
coming to an end, but confirmed a gloomy outlook for 2009 amid an unprecedented
industry crisis. For details, double click on [VLOF.PA].

METRO (MEOG.DE), ARCANDOR (AROG.DE)

Metro CEO Eckhard Cordes said he would pay a "fair price" for the 60
Arcandor stores Metro would like to buy and did not expect the move would create
antitrust problems. For details, see:[ID:nL9454449] [ID:nL9700003]

DEUTSCHE BOERSE (DB1Gn.DE)

NYSE Euronext (NYX.N) CEO Duncan Niederauer said his group was not in merger
talks with Boerse, nor does it plan to be. For details, see:[ID:nWEN0233]

(Reporting by Blaise Robinson, editing by Brian Gorman)