August 26, 2013 / 5:41 AM / 4 years ago

European Factors to Watch-Shares to gain, focus on commodities

LONDON, Aug 26 (Reuters) - European shares were expected to rise for a third
straight session on Monday, tracking gains on Wall Street and in Asia, with
stronger oil and metals prices seen supporting commodity stocks and the wider
equity market.
    Trading volumes were likely to be thin due to a public holiday in the United
Kingdom and an absence of major economic data releases in Europe and the United
States.
    Commodity shares will be in focus after oil rose to a near
five-month high as tensions over a chemical weapons attack in Syria added to
concerns over increased unrest in the Middle East that could disrupt supply.
Copper, which tracks global economic developments closely, hit a four-month high
in Shanghai.
    At 0623 GMT, futures for Euro STOXX 50, Germany's DAX and
France's CAC were 0.1 to 0.2 percent higher. German Bund futures
 were 7 ticks higher at 139.65.
    The FTSEurofirst index of top European shares closed 0.4 percent
firmer at 1,223.65 points on Friday, while U.S. shares   
rose 0.3 to 0.5 percent. MSCI's broadest index of Asia-Pacific shares outside
Japan climbed 0.5 percent on Monday.
    The FTSEurofirst 300 index of top European shares is up nearly 8 percent so
far this year following liquidity support from central banks, a recovery in the
global economy and improving credit conditions in the euro zone.
    In a sign that the situation in the euro zone was improving, Greece's
finance minister said in a German media interview the country could tap debt
markets to test the water in the second half of 2014 if it returns to growth in
the first half of next year and manages a primary surplus. 
--------------------------------------------------------------------------------
     MARKET SNAPSHOT AT 0626 GMT                                       
                                                     LAST     PCT CHG   NET CHG
     S&P 500                                     1,663.50      0.39 %      6.54
     NIKKEI                                     13,636.28     -0.18 %    -24.27
     MSCI ASIA EX-JP                               507.02      0.62 %      3.10
     EUR/USD                                       1.3379     -0.01 %   -0.0002
     USD/JPY                                        98.61     -0.13 %   -0.1300
     10-YR US TSY YLD                               2.833          --      0.02
     10-YR BUND YLD                                 1.929          --      0.00
     SPOT GOLD                                  $1,396.58      0.01 %     $0.14
     US CRUDE                                     $106.80      0.36 %      0.38
  > Asian stocks, currencies start new week on calmer note           
  > Yields fall as weak housing sales raise mortgage fears                  
  > Nikkei choppy on govt tax hike, Fed concerns; real estate shares up     
  > Wall St ends up a day after Nasdaq outage, Microsoft jumps            
  > Dollar steady vs yen, hovers below recent 3-week high                 
  > Gold eases on stimulus fears after early jump over $1,400             
  > Shanghai copper hits 4-month high on hopes of global revival         
  > Brent rises above $111 on Syria, U.S. data CLc1 LCOc1                  
    
    COMPANY NEWS
     
    TELEFONICA, KPN 
    Dutch telecoms group KPN on Monday announced improved terms for the sale of
its German business E-Plus to Spain's Telefónica, in a deal worth 8.55 billion
euros ($11.46 billion) that now has the support of Carlos Slim's América Móvil
. 
    
    ING 
    Private equity firm MBK Partners has agreed to buy a 90 percent stake in
ING's South Korean insurance unit for 1.63 trillion won ($1.46 billion), a
source with direct knowledge of the matter said Monday. 
    
    SOCIETE GENERALE 
    The French bank will launch a $300 million Islamic bond programme in
Malaysia, becoming the second major European bank to issue sukuk and the first
to do so in Asia. 
    
    THYSSENKRUPP, RHEINMETALL 
    A joint venture of EADS and ThyssenKrupp as well as offices of
Rheinmetall were raided last week in Germany on suspicion of paying bribes
related to an order of submarine equipment from Greece, a spokesman for the
state prosecutor in Bremen said on Saturday. 
    
    HEINEKEN 
    The families that control Heineken said on Monday they planned to buy up to
100 million euros ($134.0 million) of shares in Heineken Holding.
 
    
    GSW IMMOBILIEN, DEUTSCHE WOHNEN 
    GSW Immobilien, the German residential landlord that has received a $2.3
billion takeover offer from rival Deutsche Wohnen, said on Monday it saw some
merit in the proposed tie-up but that it needed more information. 
    
    PRAKTIKER, HORNBACH 
    DIY chain Hornbach is considering bidding for stores of insolvent rival
Praktiker, Hornbach's Chief Financial Officer Roman Pelka said, according to
German paper Frankfurter Allgemeine Sonntagszeitung. Related news 
    
    ACTELION 
    Actelion said an important condition for its acquisition of privately-held
firm Ceptaris was met with Ceptaris gaining U.S. approval for its Valchlor gel.
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