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EDINBURGH, July 14 European stocks were seen slightly higher on
Monday, kicking off the week on a positive foot after a key index posted its
biggest weekly loss in four months to leave it near its lowest since May.
At 0623 GMT, futures for the Euro STOXX 50, Britain's FTSE 100
, Germany's DAX and France's CAC were 0.5 to 0.8 percent
The pan-European FTSEurofirst 300 looked set to build on the
previous session's gains, when it edged up 0.2 percent to 1,352.11. It still
finished the week down 3 percent in its largest weekly fall since March,
European shares regained their composure after stock markets globally had
been roiled by concerns over Portugal's banking system and specifically Banco
Espirito Santo, the country's largest listed bank by assets.
Asian stocks and U.S. futures edged higher on Monday, with the lender and
central bank distancing BES from the financial troubles of its founding family.
While the immediate concerns over contagion in the financial system were
allayed, traders remained cautious over a financial sector which remains dogged
by issues such as the strength of balance sheets and numerous regulatory probes.
"Last week's events were a wake up call for complacent markets that for all
the exuberance about falling risks, the weakest European economies remain a long
way away from fiscal health, as do their banking systems," Michael Hewson, chief
market analyst at CMC Markets, said.
Europe bourses in 2014: (link.reuters.com/pad95v)
Asset performance in 2014: (link.reuters.com/rav46v)
MARKET SNAPSHOT AT 0626 GMT:
LAST PCT CHG NET CHG
S&P 500 1,967.57 0.15 % 2.89
NIKKEI 15296.82 0.88 % 132.78
MSCI ASIA EX-JP 498.53 0.27 % 1.33
EUR/USD 1.3598 -0.07 % -0.0010
USD/JPY 101.38 0.02 % 0.0200
10-YR US TSY YLD 2.529 -- 0.01
10-YR BUND YLD 1.214 -- 0.01
SPOT GOLD $1,317.99 -1.48 % -$19.85
US CRUDE $100.50 -0.33 % -0.33
> GLOBAL MARKETS-Asian shares edge higher, oil nurses losses
> US STOCKS-Wall St edges up; indexes post losses for week
> Nikkei rises as retail buyers snap up small caps
> TREASURIES-U.S. bond prices rise on banking, Middle East worry
> FOREX-Dollar steady in subdued market as key events loom
> PRECIOUS-Gold still near 4-month high on safe-haven bids
> METALS-London zinc hits near 3-year top on supply worries
> Brent rises as Libya, Iraq violence renews supply worries
Germany's national soccer team, sponsored by Adidas, snatched victory
against Argentina in the World Cup final with a superb extra-time goal from
Mario Goetze to lift the trophy for the first time since 1990.
The Bundesbank is concerned by penalties European banks are paying the
United States to settle investigations into sanctions violations involving
Sudan, Iran and Cuba, Spiegel magazine reported, quoting an official at the
German central bank.
The utility sees no need for any writedowns as a result of current low power
prices, its finance chief was quoted as saying in newspaper Boersen-Zeitung on
Japan's Softbank Corp has reached a basic agreement to acquire
T-Mobile US from parent Deutsche Telecom, Nikkei reported on Friday.
Reuters reported last month that Sprint, majority-owned by Softbank, has
lined up eight banks to finance its proposed acquisition of T-Mobile US, edging
closer to a deal.
Chances are small that Deutsche Post can increase the stamp prices for a
standard letter, the head of the German Federal Network Agency told German
newspaper Rheinische Post.
The German healthcare group is targeting a profit before tax and
amortization (EBTA) margin of 15 percent for its hospitals, Chief Executive Ulf
Schneider told magazine Der Spiegel.
The German chemicals and drugs company is in the market for mid-size
acquisitions to bolster its pharmaceuticals division, the head of that unit told
Swiss business paper Finanz und Wirtschaft.
The carmaker will probably be forced by European rules to use the disputed
air-conditioning coolant R1234yf, Volkswagen's head of development told magazine
The fashion house's chief executive, Claus-Dietrich Lahrs, reiterated a
3-billion euro revenue target for 2015 in an interview with magazine
LINDT & SPRUENGLI
Swiss chocolate maker Chocoladefabriken Lindt & Spruengli is in
advanced discussions to acquire family-owned U.S. candy business Russell Stover,
according to a source familiar with the matter.
For more, click on
An experimental drug from Roche helped people with an advanced form of skin
cancer live longer without their disease worsening when used in combination with
another treatment, the Swiss drugmaker said on Monday.
For more, click on
(Reporting by Alistair Smout; Editing by Tricia Wright)