PARIS, July 28 European stocks were set to rise on Monday,
bouncing from the previous session's drop, with Ryanair in focus after
the airline boosted its annual profit outlook.
Europe's biggest budget airline lifted its annual profit outlook on Monday
after posting a sharp rise in quarterly net income, coming in the wake of profit
warnings by rivals Air France-KLM and Lufthansa.
At 0636 GMT, futures for Euro STOXX 50, for UK's FTSE 100,
for Germany's DAX and for France's CAC were up 0.4-0.5 percent.
Lifting investors' mood on Monday, data showed a sharp rise in profits
earned by Chinese industrial firms, up 17.9 percent in June from a year earlier,
fuelling expectations that the China's economy is powering through its recent
soft patch as the government uses targeted stimulus measures to support growth.
The data boosted Asian stocks, with the MSCI's broadest index of
Asia-Pacific shares outside Japan up 0.2 percent after touching
a three-year high earlier.
Spanish banks will be in focus after bailed-out lender Bankia said
its first half net profit more than doubled from a year ago to 432 million euros
($580 million), beating forecasts as bad debts fell slightly and lending revenue
Europe bourses in 2014: (link.reuters.com/pad95v)
Asset performance in 2014: (link.reuters.com/rav46v)
MARKET SNAPSHOT AT 0641 GMT:
LAST PCT CHG NET CHG
S&P 500 1,978.34 -0.48 % -9.64
NIKKEI 15529.4 0.46 % 71.53
MSCI ASIA EX-JP 508.98 0.17 % 0.87
EUR/USD 1.3431 0.01 % 0.0002
USD/JPY 101.84 0.02 % 0.0200
10-YR US TSY YLD 2.485 -- 0.02
10-YR BUND YLD 1.157 -- 0.01
SPOT GOLD $1,304.80 -0.23 % -$2.99
US CRUDE $101.98 -0.11 % -0.11
> GLOBAL MARKETS-CHINA SHARES LEAD ASIA HIGHER, DOLLAR BUOYED
> US STOCKS-WALL ST CLOSES LOWER ON AMAZON, VISA
> NIKKEI HITS 6-MTH HIGH ON EARNINGS HOPES; CASINO PLAYS OUTPERFORM
> FOREX-MARKET TAKES A SHINE TO THE DOLLAR, SHUNS EURO
> PRECIOUS-GOLD SLIPS ON STRONGER DOLLAR, BUT HOLDS ABOVE $1,300
> METALS-LONDON COPPER PAUSES AS FREEPORT EYES EXPORTS
> BRENT SLIPS BELOW $108 AS MIDEAST TENSION COOLS ON GAZA LULL
Spanish bailed-out lender on Monday said its first half net profit more than
doubled from a year ago to 432 million euros ($580 million), beating forecasts
as bad debts fell slightly and lending revenue rose.
DEUTSCHE BANK, HSBC
Silver bullion banks Deutsche Bank, Bank of Nova Scotia
and HSBC have been accused of manipulating prices in the multi-billion
dollar market in a lawsuit filed on Friday.
GSK's chief executive has opened the possibility of the pharma group's being
broken up in the future as he pushes through a sweeping overhaul of Britain's
largest drugmaker, the Financial Times reported on Monday.
The pharma group has signed up Roche and Qiagen to
develop two separate diagnostic tests, both using simple blood samples, to
identify patients who will benefit from its lung cancer drugs.
RECKITT BENCKISER GROUP
The consumer goods company has decided to spin off its Suboxone
pharmaceuticals business in the next 12 months, it said on Monday, ending months
of speculation over the shrinking division's future.
The group reported a 5.9 percent drop in quarterly revenues.
The new management of the Italian oil and gas group plans to press on with
the sale of a controlling stake in oil services subsidiary Saipem so it can
focus on the more lucrative business of finding oil and gas, sources said.
Italy's UniCredit is close to selling a new portion of its private equity
holdings after a similar deal in 2013, a source close to the matter said on
Sunday, as European banks shed non-core assets to strengthen their capital base.
The French dairy group is in talks to sell its medical nutrition business to
U.S. group Hospira HSP.N in a deal valuing the unit at about $5 billion, the
Financial Times reported on Sunday, citing people familiar with the situation.
The holiday group's board on Friday advised that a 790 million euro ($1.1
billion) takeover offer from top shareholder and Italian financier Andrea Bonomi
was in shareholders' interest, but flagged risks for the company.
Essar is in talks with BASF for a $2 billion petrochemicals joint venture,
India's Economic Times reported, citing people directly involved in the
Germany's second-biggest bank is widening the scope of its savings programme
to outsource parts of its finance department, which includes accounting, German
daily newspaper Handelsblatt reported.
Swiss pharmaceutical group Novartis said the European Commission had
approved its eyecare unit Alcon's Simbrinza treatment for glaucoma, a chronic,
sight-threatening eye disease.
Sources said late on Friday Turkey's Cukurova was expected to pay this week
for a controlling stake in Turkish mobile operator Turkcell, of which the
Swedish telecoms firm owns 38 percent.
(Reporting by Blaise Robinson; Editing by Francesco Canepa)