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European Factors -- Shares set to slip back

 (Adds futures, more company items; updates snapshot table)
 LONDON, Sept 8 (Reuters) - European shares were set to extend losses on
Wednesday, tracking declines in Asia and on Wall Street, weighed by renewed
concerns about the financial strength of European banks, and after weak German
exports data.
 At 0631 GMT, STOXX Europe 50 STXEc1 futures were down 0.5 percent,
Germany's DAX futures FDXc1 were down 0.4 percent and France's CAC-40 futures
FCEc1 were up 0.3 percent.
 On Tuesday, the FTSEurofirst 300 .FTEU3 index of leading European shares
fell 0.4 percent to 1,061.79 points.
 The European benchmark soared 62 percent between hitting a lifetime low in
March, 2009 and the end of the year. But it is up just 1.5 percent in 2010, as
investors worry about European debt levels and the strength of the economic
recovery.
 German exports fell unexpectedly month-on-month in July after two months of
strong gains, though the country's trade surplus widened due to an even larger
decline in imports, official data showed. [ID:nLDE68706C]
 Ireland on Tuesday extended its guarantee for short-term bank liabilities,
including corporate and interbank deposits, as expected as the government sought
to reassure investors. [ID:nLDE6861YN]
 U.S. stocks fell in very light volume on Tuesday as investors seized on
renewed concerns about European banks as a reason to sell shares after strong
gains last week. 
 Worry about Europe's banks resurfaced after the Wall Street Journal reported
major lenders understated holdings in potentially risky government debt during
tests designed to probe banks' strength. 
 Japan's Nikkei average .N225 dropped more than 2 percent on Wednesday as
the yen's advance to a fresh 15-year high against the dollar extinguished an
upbeat mood gained from last week's better-than-expected economic data.
 "European markets are set to start Wednesday's session on the back foot and
with jitters being seen in the market over the strength of regional banks, the
downside could prove somewhat protracted, not least given the fact that solid
run up we've seen over the last couple of weeks makes profit taking attractive
anyway," Ben Potter, research analyst at IG Markets, said in a note.
 
 ----------------------MARKET SNAPSHOT AT  0620 GMT----------------------
                                      LAST        PCT CHG        NET CHG 
 S&P 500                  .SPX  1,091.84        -1.15 %         -12.67 
 NIKKEI                  .N225  9,024.60        -2.18 %         -201.4 
 MSCI ASIA EX-JP .MIASJ0000PUS    495.91        -0.69 %          -3.47 
 EUR/USD                  EUR=    1.2717         0.25 %         0.0032 
 USD/JPY                  JPY=     83.47        -0.39 %        -0.3300 
 10-YR US TSY YLD    US10YT=RR     2.598             --           0.00 
 10-YR BUND YLD      EU10YT=RR     2.257             --          -0.02 
 SPOT GOLD                XAU= $1,258.90         0.46 %          $5.80 
 US CRUDE                 CLc1    $73.86        -0.31 %          -0.23  
 ----------------------------------------------------------------------- 
 * US STOCKS-Market falls amid European bank worries        [ID:nN07253043]
 * GLOBAL MARKETS-Asian shares slip; rising yen hits Nikkei [ID:nSGE68702W]
 * Dollar hits 15-yr low vs yen, euro struggles             [ID:nTOE687030]
 * Nikkei falls 2 pct as bullish yen saps confidence        [ID:nTOE687011]
 * PRECIOUS-Gold rises on bank scare; holds near record     [ID:nSGE68701P]
 * LME copper eases, appetite returns ahead of trade data   [ID:nSGE68704R]
 * Oil falls for 3rd session as investors offload risk      [ID:nSGE68702M]
 * TREASURIES-Europe worries, strong US auction boost bonds [ID:nN07245669]
 
 COMPANY ITEMS 
 
 RICHEMONT CFR.VX
 The luxury goods group's five-month sales jumped 37 percent, beating
forecasts, thanks to a strong rebound of pricey watch sales in Asia-Pacific and
the Middle East.  Net profit for the group's first half should be significantly
higher than last year, said the group, which had not given an outlook when it
released results for its financial year 2009/10 in May.   
 
 RIO TINTO RIO.L
 Representatives of Rio Tinto have come to Russia to visit potash producer
Uralkali URKA.MM which is seen as a potential acquisition target for the
mining giant, Vedomosti reported on Wednesday.
 
 DANA PETROOLEUM DNX.L
 UK takeover target Dana has set out its defence against a $2.6 billion
hostile offer from Korea National Oil Corp.
 Separately, Dana has acquired certain UK assets from Petro-Canada UK limited
for 240 million pounds in cash.
 
 BP BP.L 
 The oil major is to release its internal probe into the Gulf of Mexico oil
spill, and is set to spread the blame to other companies involved in the well's
operations, The Wall Street Journal said on Tuesday.   Separately, the oil
giant has admitted the consequences of a deepwater blowout in the North Sea
"have never been considered  in detail" in its own emergency spill plan filed to
the government, the Daily Telegraph reported.
 
 VODAFONE VOD.L
 The world's largest telecommunications operator by revenue, is selling its
3.2 percent stake in China Mobile Ltd 0941.HK for about 4.3 billion pounds.
 
 ELAN ELN.I
 Tensions between Irish drugmaker Elan Corp Plc and its shareholders rose on
Tuesday and cracks appeared within the company's board, as Elan fought back
allegations of mismanagement and misconduct.
 
 BARRATT DEVELOPMENTS BDEV.L
 The British housebuilder said wider economic fears and the lack of mortgage
finance meant the market for new housing was still challenging as it reported a
jump in profits. 
 
 RYANAIR RYA.L 
 Europe's biggest low-cost airline could buy up to 300 aircraft, Chief
Executive Michael O'Leary told the Financial Times. [ID:nN07247237]
 
 NOKIA NOK1V.HE 
 A trade panel which probes patent infringement allegations said late on
Tuesday it would look into whether Apple, Nokia, Samsung, Research in Motion and
others infringed Spansion's patents for flash memory chips. [nLDE68701S] 
 The U.S. International Trade Commission said that it would take up a
complaint by Spansion Inc CODE.N that the companies infringed four of its
patents. For more on the company, double click on [NOK1V.HE]  
 
 LONZA LONN.VX, GLAXOSMITHKLINE GSK.L
 Swiss drugs industry supplier Lonza will manufacture a number of drug
compounds for Britain's GlaxoSmithKline, in a sign demand for the Swiss group's
products is recovering. [ID:nLDE68705U]
 
 (Reporting by Brian Gorman)

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