European Factors -- Futures point to stronger open, HSBC eyed

(Adds company items, futures; updates snapshot)

PARIS, May 12 (Reuters) - European equities were seen opening higher on
Monday, recovering some ground lost in the previous session, as investors braced
for UK inflation figures and an update from HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz).

At 0633 GMT June Stoxx50 futures STXEM8 were up 0.4 percent, June DAX
futures FDXM8 up 0.4 percent and CAC-40 May futures FCEc1 up 0.3 percent.

"European equity markets look set to start the new week flat to marginally
higher after a relatively uneventful end to the week on Wall Street, however
scope for early volatility in London trade shouldn't be ruled out with the
release of the UK PPI data for April scheduled this morning," Matt Buckland,
trader at CMC Markets, wrote in a note.

UK price producer index, a key inflation measure, is expected at 0830 GMT.

The FTSEurofirst 300 index fell 1.3 percent on Friday, to close at
1,342.68 points, hit by downbeat earnings from financial services firms and
record high oil prices.

----------------------MARKET SNAPSHOT AT 0637 GMT----------------------

LAST PCT CHG NET CHG

S&P 500 .SPX 1,388.28 -0.67 % -9.4

NIKKEI .N225 13,743.36 0.64 % 88.02

MSCI ASIA EX-JP .MIASJ0000PUS 553.84 -0.16 % -0.89

EUR/USD <EUR=> 1.5386 -0.48 % -0.0074

USD/JPY <JPY=> 103.43 0.45 % 0.4600

10-YR US TSY YLD <US10YT=RR> 3.758 -- -0.02

10-YR BUND YLD <EU10YT=RR> 4.001 -- 0.01

SPOT GOLD <XAU=> $883.10 -0.09 % -$0.80

BRENT CRUDE LCOc1 $124.75 -0.52 % -$0.7

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* AIG's loss and record oil sour mood on Wall St [ID:nN09500781]

* Asian stocks rise as yen eases, Aussie banks eye M&A [ID:nSP230848]

* Nikkei claws higher, boosted by yen and oil [ID:nTKV003099]

* Dollar gains as economic slowdown spreads beyond US [ID:nT228102]

* Asian stocks sag on economic uncertainty, high oil [ID:nSP230848]

* Nikkei turns positive as yen retreats, exporters rise [ID:nT24231]

* Oil steady above $126, Middle East violence supports [ID:nL12237882]

* Dollar gains on more signs of global growth slowing [ID:nT226563]

* TREASURIES-Rise in Asia, focus on equities and data [ID:nT25671]

* Gold down, reverses gains as dollar recovers [ID:nT224917]

COMPANY ITEMS:

CENTRICA (CNA.L: Quote, Profile, Research, Stock Buzz)

British energy company Centrica Plc (CNA.L: Quote, Profile, Research, Stock Buzz) said on Monday that, as
expected, first-half group operating profit would be materially below that of
last year due to lower profitability at its British Gas business.

For details, see: [ID:nWLB1384]

FINMECCANICA SPA (SIFI.MI: Quote, Profile, Research, Stock Buzz), EADS (EAD.PA: Quote, Profile, Research, Stock Buzz)

Aerospace and defence company Finmeccanica SpA is close to making an offer
of nearly 3.5 billion euros ($5.41 billion) for U.S. military engineering
company DRS Technologies Inc. (DRS.N: Quote, Profile, Research, Stock Buzz), Il Sole 24 Ore business daily reported on
Sunday.

The board could formalise its offer on Monday, it said.

For a story, double click on [ID:nLL11103147]

European aerospace group is seriously examining the possibility of bidding
for DRS Technologies Inc (DRS.N: Quote, Profile, Research, Stock Buzz), the head of EADS North America said.

For details, see [ID:nN09500785]

HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz), ALLIANCE & LEICESTER (ALLL.L: Quote, Profile, Research, Stock Buzz), BARCLAYS (BARC.L: Quote, Profile, Research, Stock Buzz)

HSBC is due to release its pre-close first-half trading update.

The Times reported that HSBC, Alliance & Leicester and Barclays will report
investment writedowns totalling more than four billion pounds this week.

The paper said HSBC is expected to write down up to five billion dollars on
Monday due to the continuing toll the credit crunch is taking on its American
unit.

A&L will report on Wednesday with analysts predicting pre-tax writedowns of
around 200 million pounds, while Barclays will deliver its update on Thursday,
with around 1.4 billion pounds of writedowns expected, the Times added.

SOCIETE GENERALE (SOGN.PA: Quote, Profile, Research, Stock Buzz)

French bank will be severely criticised in an independent report into its 50
billion euro rogue trading scandal to be published within the next two weeks,
the Financial Times reported. The final report commissioned by three of the
bank's non-executive directors, chaired by Jean-Martin Folz, former boss of
Peugeot, is expected to be harsher than the interim findings published in
February, a month after the scandal broke.

BRITISH ENERGY (BGY.L: Quote, Profile, Research, Stock Buzz) EDF (EDF.PA: Quote, Profile, Research, Stock Buzz)

Despite the auction for British Energy attracting interest only from EDF by
last Friday's deadline, the government has ruled out selling the company to a
lone bidder, The Daily Telegraph reported.

The government, which owns 35.2 percent of BE, is holding firm on its
decision that no one body should have full ownership of Britain's nuclear
reactors, the paper added. Separately, Spanish utility Iberdrola (IBE.MC: Quote, Profile, Research, Stock Buzz) did
not make an offer for British Energy by a deadline on Friday but has not ruled
out a future offer, an industry source said. For details, see: [ID:nWLB1355]

ENDESA (ELE.MC: Quote, Profile, Research, Stock Buzz), ENEL (ENEI.MI: Quote, Profile, Research, Stock Buzz), ACCIONA (ANA.MC: Quote, Profile, Research, Stock Buzz)

Spanish utility Endesa posted first-quarter net profit of 662 million euros
($1 billion), 4.6 percent percent more than in the same period last year.

Profit was up 4.4 percent on a like-for-like basis, excluding assets it has
sold to Germany's E.ON (EONG.DE: Quote, Profile, Research, Stock Buzz), to 877 million euros before minority
interests.

INTERNATIONAL POWER (IPR.L: Quote, Profile, Research, Stock Buzz)

Electricity firm International Power (IPR.L: Quote, Profile, Research, Stock Buzz) said on Monday it had agreed to
buy a 1,857 megawatt portfolio of generation facilities, including plants in
Pennsylvania, New Jersey and Maryland, for $856.4 million.

For details, see: [ID:nWLB1386]

KAZAKHMYS (KAZ.L: Quote, Profile, Research, Stock Buzz)

The mining group is expected to look at ways of offloading its 15 percent
stake in ENRC (ENRC.L: Quote, Profile, Research, Stock Buzz) after rejecting its domestic rival's takeover proposal
last week, reported the Daily Telegraph.

CREDIT AGRICOLE (CAGR.PA: Quote, Profile, Research, Stock Buzz)

French bank may oust Marc Litzler from his post of head of Agricole's Calyon
investment bank, Le Monde newspaper reported over the weekend.

Credit Agricole declined to comment on the report.

For details, see: [CAGR.PA-LEN-RTRS]

FIAT SPA (FIA.MI: Quote, Profile, Research, Stock Buzz)

Italy's Agnelli family has given no mandate to sell Fiat SpA's car business,
the outgoing head of the holding that controls the industrial group said in an
interview published on Sunday. For a story, double click on [ID:nL11104434]

TISCALI SPA (TIS.MI: Quote, Profile, Research, Stock Buzz)

Broadband operator Tiscali should have received offers from six bidders,
Milano Finanza reported on Saturday. They are Vodafone Group Plc (VOD.L: Quote, Profile, Research, Stock Buzz),
Carphone Warehouse Group Plc (CPW.L: Quote, Profile, Research, Stock Buzz), British Sky Broadcasting Group Plc
(BSY.L: Quote, Profile, Research, Stock Buzz), Fastweb SpA
(FWB.MI: Quote, Profile, Research, Stock Buzz), BT Group Plc (BT.L: Quote, Profile, Research, Stock Buzz) and Italy's Wind, it said.

Vodafone and another company would have offered to buy the entire company,
while the others are interested only in British or Italian assets, Milano
Finanza said. Tiscali's board will meet on Monday and the company releases
first-quarter results.

IBERIA (IBLA.MC: Quote, Profile, Research, Stock Buzz)

Iberia could join a merger of British Airways (BAY.L: Quote, Profile, Research, Stock Buzz), American Air
lines (AMR.N: Quote, Profile, Research, Stock Buzz) and Continental (CAL.N: Quote, Profile, Research, Stock Buzz), El Periodico de Catalunya reported on
Saturday. Iberia declined to comment. On April 30, BA, which owns 15 percent of
Iberia, said it was "exploring opportunities for co-operation" with American and
Continental but analysts doubted such a deal would be approved.

For details, see:[ID:nL30754655]

(Reporting by Blaise Robinson)