LONDON, June 13 European stocks were seen edging lower on Friday
as violence in Iraq raised the threat of new instability in the oil-rich Middle
East and pushed up energy prices.
British property companies and banks were likely to be in focus on Friday
after Bank of England Governor Mark Carney said that British interest rates
could rise sooner than financial markets expect and that he was concerned by
signs that mortgage lending standards were becoming looser.
At 0629 GMT, futures for the Euro STOXX 50, Britain's FTSE 100
, Germany's DAX and France's CAC were down between 0.1
percent and 0.4 percent.
The Dax was set for its first sizeable weekly loss since mid-April
while the Cac and the FTSE were on track for their first weekly
decline since May.
President Barack Obama threatened U.S. military strikes in Iraq against
Sunni Islamist militants who have surged out of the north to menace Baghdad and
want to establish their own state in Iraq and Syria.
Brent futures rose towards $114 a barrel on Friday and hit a nine-month high
while U.S. stocks fell overnight.
"I'd rather be short (the market) at the moment," Justin Haque, a
pan-European broker at Hobart Capital Markets, said.
Europe bourses in 2014: (link.reuters.com/pad95v)
Asset performance in 2014: (link.reuters.com/rav46v)
> ASIA STOCKS DOWN, OIL BUOYANT AS IRAQ WAR ESCALATES
> WALL ST SLIDES ON CONCERNS ABOUT IRAQ
> NIKKEI FALLS TO FRESH 2 1/2-WEEK LOW ON IRAQ CONCERNS
> TREASURIES-PRICES LEAP ON STRONG U.S. 30-YEAR BOND SALE
> DOLLAR EDGES UP VS YEN AFTER TOUCHING TWO-WEEK LOWS
> PALLADIUM, PLATINUM REBOUND AFTER HEAVY SELL-OFF
> LONDON COPPER FACES 3RD WEEK OF LOSSES AS CHINA DEMAND EBBS
> BRENT CLIMBS TOWARD $114, HITS 9-MONTH TOP ON IRAQ CRISIS
Siemens and Mitsubishi Heavy Industries are trying to beat a bid by
U.S. conglomerate General Electric for Alstom with an offer that would
focus on alliances with the French engineering group, sources said on Thursday.
ABENGOA, ABENGOA YIELD
Abengoa Yield Plc, the U.S. unit of Spanish renewable and engineering firm
Abengoa SA, said its initial public offering had been priced at $29 per share,
valuing the company at about $2.32 billion.
Dassault Systemes, which develops 3D software for companies, said on Friday
it had set a 2019 non-IFRS Earnings Per Share (EPS) objective of about 7.00
euros per share.
LCL, the retail banking unit of Credit Agricole, is considering cutting
1,000 jobs by 2018 as it reorganises its national network, French daily Les
Echos reports on Friday, citing trade unions. Credit Agricole could not be
immediately reached for comment. LCL's network employs 13,600 people.
UK PROPERTY COMPANIES, BANKS
Bank of England Governor Mark Carney said on Thursday that British interest
rates could rise sooner than financial markets expect, in a surprisingly stark
warning that monetary policy may start to tighten within months.
Carney also said he was also concerned by signs that mortgage lending
standards were becoming looser and set out the case for early action as
insurance against future risks by the BoE's Financial Policy Committee, which
meets next week.
The chief operating officer of BNP Paribas is to step down at the end of
June and retire completely on Sept. 30, France's biggest bank announced on
Thursday as talks with U.S. authorities over a potential $10 billion fine
Dutch state-owned ABN Amro has closed its carbon trading desk, a company
spokesman said, making the bank the latest in a rising number to exit the market
due to increased regulation and falling prices.
Airbus fleshed out the case for a potential revamp of its A330 jetliner, but
vowed not to let the estimated $2 billion investment in fuel savings divert it
from its main goal of improving profits at Europe's largest aerospace group.
French gas and power group GDF Suez said on Thursday its Belgian Doel 3 and
Tihange 2 nuclear plants will remain closed for testing longer than expected and
that it would adjust earnings guidance for net recurring income to reflect the
number of months of effective outage.
Renault and Opel led French car orders 2 percent higher in May, according to
a survey published on Thursday, helped by strong demand for small cars and
compact sport utility vehicles (SUV).
(Reporting By Francesco Canepa; Editing by Tricia Wright)