(ADVISORY- Reuters plans to replace intra-day European and UK
stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets
for site in development. See the bottom of the report)
LONDON, June 14 (Reuters) - European shares headed for a
fifth straight session of losses on Tuesday, mirroring falls on
Wall Street and in Asia, on growing jitters before the Federal
Reserve's meeting and next week's referendum in Britain on its
membership of the European Union.
Two opinion polls published by ICM showed on Monday that
Britain's "Out" campaign had widened its lead over the "In" camp
ahead of the June 23 referendum.
Uncertainty over this week's two-day Fed meeting, starting
later in the day, has also weighed on markets, though the U.S.
central bank is widely expected to leave rates unchanged after
the much weaker-than-expected May nonfarm payrolls report.
Futures for the Euro STOXX 50 STXEc1 , Germany's
DAX FDXc1 , France's CAC FCEc1 and Britain's
FTSE FFIc1 were 0.7 to 1.2 percent lower.
European shares fell to their lowest level in more than
three months on Monday, hit by a sell-off in cyclical stocks and
widespread unease in markets over a possible British exit from
the European Union.
The pan-European FTSEurofirst 300 index .FTEU3 closed 1.9
percent lower after hitting its lowest since late February and
extending the previous session's 2.3 percent drop. The STOXX
Europe 600 .STOXX ended 1.8 percent lower, while Italy's FTSE
MIB .FTMIB closed down 2.9 percent.
U.S. shares closed 0.7 to 0.9 percent lower on Monday, while
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was down 0.4 percent on Tuesday.
PREMIER FARNELL PFL.L , DAETWYLER HOLDING DAE.S ,
Premier Farnell shares were expected to open around 45
percent hgiher after Daetwyler Holding said it has agreed to buy
Premier Farnell > in an all-cash offer that valued the British
electronic component distributor at just over 1 billion Swiss
francs ($1.04 billion). DANO.PA
Danone , the world's largest yoghurt maker, raised its 2016
earnings guidance thanks to growth in emerging markets, notably
in China. SGEF.PA , CREDIT AGRICOLE CAGR.PA
Private investment company Ardian and Credit Agricole
Assurances have signed an agreement with Vinci to acquire its
24.6 percent stake in parking operator Indigo, which will be
49.2 percent owned by Ardian Infrastructure and 49.2 percent by
Credit Agricole Assurances. AHT.L
Ashtead Group announced on Tuesday a share buyback of up to
200 million pounds ($284 million) for the current financial
year, after strong North American growth helped the industrial
equipment hire group post a rise in full-year profit.
The French investment firm succesfully repurchased its 2017,
2018 and 2019 bond issues under its tender offer up to a maximum
amount of 400 million euros ($451.72 million). Wendel's total
amount of undrawn credit lines is now 1.15 billion euros, with
maturities extending from November 2019 to March 2020.
China's Midea Group Co Ltd 000333.SZ is only seeking a 49
percent stake in the industrial robot maker, Handelsblatt
reported on Monday, citing unnamed sources in the German
The French credit insurer appointed Thibault Surer, 54, head
of strategy and business development, and also a member of the
group's management and executive committees. ERICb.ST
The Swedish telecoms equipment-maker plans to lay off
3,000-4,000 employees later this summer and considers laying off
thousands more in a bid to cut costs, newspaper Svenska
Dagbladet (SvD) reported on Tuesday, quoting anonymous sources.
The Danish pharmaceutical company's top-selling diabetes
drug Victoza cut the risk of heart attack, stroke and
cardiovascular death by 13 percent in a closely watched study
that may help boost sales of the injectable medicine.
The French real estate investment and development company
completeda 210 million-euro ($237.15 million) capital increase,
with a subscription rate of 131 percent. BILLITON BLT.L
Brazilian iron ore miner Vale SA VALE5.SA said on Monday
that a 20 billion reais ($5.7 billion) civil lawsuit seeking
environmental and property damages for last year's deadly
Samarco mine disaster has been dismissed. Saramco is a joint
venture between Vale and BHP Billiton. WEBER GWIG.DE
First-half sales rose 2.5 percent to 443.6 million euros
($500.5 million) and the German fashion retailer said that it
expected full-year earnings before interest and taxes of 10 to
20 million euros. BP.L
Venezuelan state-run PDVSA has discharged another cargo of
U.S. crude sold by BP after waiting times of more than a month
related to payment problems that were solved this month under a
swap agreement, according to sources close to the deal.
A large investor has called for British housebuilder
Persimmon PSN.L to scale back an executive pay plan that could
see its management share in windfalls of almost 600 million
pounds ($857 million) over the next six years.
Coal is an investment opportunity as global demand will grow
and a halt in spending would halve seaborne supplies in 15
years' time, Glencore GLEN.L said on Monday, adding its own
coal operations would be depleted by 2035 without new funds.
The head of Bank of America Merrill Lynch (NYSE: BAC ) in Italy, tipped
as a leading candidate to become chief executive at UniCredit,
told an internal meeting on Monday he is happy with his current
job, two sources close to the matter said. BANKING
Private banks will struggle to grow revenue given negative
interest rates and restrained client activity, UBS UBSG.S
Wealth Management President Juerg Zeltner said.
A group of 26 Mozambique civil society organisations said on
Monday $1.86 billion of government debt arranged by Credit
Suisse and Russia's VTB Bank VTBR.MM was illegal and should
not be paid. Reuters plans to replace intra-day European and UK
stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets
for site in development). In a real-time, multimedia format
from 0600 London time through the 1630 closing bell, it will
include the best of our market reporting, Stocks Buzz service,
Eikon graphics, Reuters pictures, eye-catching research and
market zeitgeist. Breaking news and dramatic market moves will
continue to be alerted to all clients and we will continue to
provide a short opening story and comprehensive closing reports.
If you have any thoughts, suggestions or feedback on this,
please email email@example.com.
Mike Dolan, Markets Editor EMEA.
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