European Factors -- Shares set to open lower

(Adds futures, more company items, updates snapshot table)

LONDON, Dec 3 (Reuters) - European stocks were set for a lower opening on
Wednesday ahead of key interest rate decisions on Thursday, and despite gains in
U.S. and Asian markets.

Futures for the DJ Euro Stoxx STXEc1, Germany's DAX FDXc1 and France's
CAC-40 FCEc1 were down between 0.5 and 1.2 percent.
On Tuesday, the FTSEurofirst 300 .FTEU3 index of top European shares rose
1.9 percent to close at 825.31 points. But it has lost more than 45 percent this
year, punctured by a credit crisis that has contributed to several major
economies going into recession.

Later in the session, investors will look at retail sales data for the
eurozone and the U.S. non-manufacturing PMI figures.

The ECB and Bank of England make their respective decisions on interest
rates on Thursday. Both are expected to cut rates.

"All eyes now turn to this afternoon's oil inventories. With WTI once again
testing the $47.50 level, the impact on mining and commodity stocks will dictate
direction ahead of tomorrow's interest rate decision in the UK," said Chris
Hossain, senior sales manager at ODL Securities.

U.S. stocks snapped back on Tuesday after General Electric (GE.N), a global
bellwether, lifted optimism by pledging to leave its dividend intact in a
fragile economy.

Financial stocks recovered a sizable chunk of Monday's steep loss after the
Federal Reserve extended several emergency measures integral to stabilizing
banks during the credit crisis.

The Dow Jones industrial average .DJI gained 3.3 percent and the Standard
& Poor's 500 Index .SPX rose 4 percent. The Nasdaq Composite Index .IXIC
added 3.7 percent.

Japan's Nikkei .N225 closed 1.8 percent higher on Wednesday.

----------------------MARKET SNAPSHOT AT 0726 GMT------------------------

LAST PCT CHG NET CHG

S&P 500 .SPX 848.81 3.99 % 32.6

NIKKEI .N225 8,004.10 1.79 % 140.41

MSCI ASIA EX-JP .MIASJ0000PUS 253.78 0.51 % 1.28

EUR/USD EUR= 1.2698 -0.09 % -0.0012

USD/JPY JPY= 93.24 -0.03 % -0.0300

10-YR US TSY YLD US10YT=RR 2.717 -- 0.02

10-YR BUND YLD EU10YT=RR 3.052 -- 0.01

SPOT GOLD XAU= $779.20 -0.29 % -$2.30

US CRUDE CLc1 $47.53 1.21 % 0.57

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

* GLOBAL MARKETS-Asian stocks, oil rebound, [ID:nL3535235]

* Nikkei gains 1.8 pct as domestic demand stocks gain [ID:nTKW003146]

* US STOCKS-Shares rebound with confidence boost [ID:nL3610260]

* NYMEX-Crude ends below $47 on OPEC, demand worries [ID:nL3480566]

* FOREX-Yen trims losses on dark econ mood [ID:nL2065040]

* TREASURIES-Edge down in Asia [ID:nT249636]

* Gold down 1 pct to near 2-week low on firm dollar [ID:nSP368398]

COMPANY ITEMS:

INFINEON (IFXGn.DE)

Chipmaker Infineon (IFXGn.DE) reported an operating loss of 220 million
euros ($279.9 million) in its fourth quarter, missing expectations as it
grapples with falling chip prices and declining demand from automakers, a key
customer group.

ANGLO IRISH BANK ANGL.I

Anglo Irish Bank said full-year EPS fell 34 percent to 88.4 cents. It is not
proposing a final dividend this year. Cumulative impairment provisiosn were 914
million euros, 1.25 pct of its loan book.

TELECOM ITALIA (TLIT.MI)

Debt-burdened Telecom Italia, Europe's fifth-biggest telecoms provider, will
shed non-core assets worth up to $3.82 billion and cut 5 percent of its
workforce in a bid to slash borrowings and trim costs amid a weak economy.
[ID:nL3516104]

SAGE (SGE.L)

Sage said full-year pretax profit rose 3 percent to 273.4 million pounds.
Revenues increased by 7 percent to 1.3 billion pounds. It said growth in
subscription revenues has continued to offset weakness in software revenues.

STAGECOACH (SGC.L)

Stagecoach said first-half pretax profit rose 24 percent to 105.2 million
pounds. It expects its bus businesses to continue to perform well through
difficult economic conditions.

EDF (EDF.PA)

EDF on Wednesday proposed to buy 50 percent of Constellation Energy nuclear
business for $4.5 billion, saying the transaction represented an implied value
for Constellation of around $52 per share. Its proposal included an up-front $1
billion cash investment in Constellation and option to sell up to $2 billion of
non-nuclear generation assets to EDF. It said its offer was not subject to a
financing condition. [ID:nWEA7704], [ID:nN02296254]

Power produced by EDF's Flamanville EPR nuclear reactor will cost around 20
percent more than planned, Les Echos newspaper reported, citing several sources.
The company could not immediately be reached for comment.

BRITISH AIRWAYS (BAY.L)

Australia left the door open to a $5.9 billion merger between Qantas Airways
QAN.AS and British Airways, which sent the Australian flag carrier's shares
up. [ID:nSYD54971]

3I GROUP (III.L)

3i will announce plans on Thursday to cut about 15 percent of its workforce
in one of the starkest illustrations of how private equity groups are slashing
costs to prepare for a sharp downturn in their industry, the Finanical Times
reported.

NEW STAR ASSET MANAGEMENT NSAM.L

Robin Geffen, the fund manager behind Neptune Investment Management, is
considering a rescue bid for John Duffield's crisis-hit New Star Asset
Management, the Daily Mail said.

ROYAL DUTCH SHELL (RDSa.L) (RDSb.L)

The oil major and Anglo American (AAL.L) are delaying an A$5 billion project
to convert coal into liquefied fuel in Australia, citing cost concerns, the
Independent said.

Separately, JPMorgan raises Royal Dutch Shell price target to 1,950 pence
from 1,900 pence but rates "underweight".

BHP BILLITON (BLT.L)

The miner is temporarily cutting manganese production at its 60 percent
owned Samancor Ltd operation due to weak market conditions, the company said.
[ID:nSYD25371]

TOTAL (TOTF.PA)

Shares in Canada's Nexen Inc (NXY.TO) jumped by nearly a third on Tuesday as
a report said that French oil major Total is poised to make a C$19.7 billion
($15.8 billion) offer for Canada's No. 4 independent oil explorer. A Total
spokesman said the company does not comment on market rumours. [ID:nN02261433]

PEARSON (PSON.L)

The Financial Times is offering buyouts and freezing salaries as its
advertisers and customers deal with the financial crisis, according to a memo
from the daily business newspaper's chief executive. [ID:nN02275705]

BMW (BMWG.DE)

BMW's U.S. sales fell 26.8 percent in November to 19,762 vehicles.
[ID:nN02278760]

Separately, Brilliance China Automotive (1114.HK), BMW's partner in China,
said its controlling shareholder would inject about 500 million yuan ($72.70
million) into the company in an effort to improve liquidity and cash flow.
[ID:nHKG229466]

DEUTSCHE POST (DPWGn.DE)

Chairman Juergen Weber plans to resign by end-year, people familiar with the
matter told Reuters. Wulf von Schimmelmann, ex-CEO of Deutsche Postbank
(DPBGn.DE), is slated to succeed him. [ID:nL2662695]

LUFTHANSA (LHAG.DE)

Alitalia's relaunch by a group of Italian businessmen will be delayed until
after Christmas to prevent travel disruptions during the peak holiday season,
Italy's industry minister said. [ID:nL2616818]

EADS (EAD.PA)

The North American unit of Europe's EADS has won a $208 million firmed,
fixed-price contract to build 39 more light utility helicopters for the U.S.
Army, the Pentagon announced on Tuesday. The contract runs through the end of
August 2010.
(Reporting by Brian Gorman)