European Factors to Watch-Shares set to extend recent fall
(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 13 (Reuters) - European stocks were seen opening lower on
Monday, extending a recent fall after closing last week near a 4-week low,
tracking losses in Asian and U.S. stocks as concerns over a possible British
exit from the European Union sparked risk aversion across global markets.
Futures on the Euro STOXX 50 STXEc1 , Germany's DAX FDXc1 and France's
CAC FCEc1 were down 1.2-1.5 percent, while futures on the FTSE 100 FFIc1
fell 0.9 percent.
Asian stocks fell the most in over two months and the Japanese yen soared as
riskier assets took a hammering before key central bank meetings this week and
as nervous investors awaited a June 23 referendum that could see Britain exiting
the European Union.
The British pound fell to an eight-week low against the dollar, and has been
under substantial pressure since one poll gave the "Out" campaign a ten-point
lead late on Friday. Two subsequent polls out over the weekend were split over
whether the "In" or "Out campaign is in front.
Concerns over the vote contributed to a slide for European stocks in the
previous session. The pan-European FTSEurofirst 300 index .FTEU3 ended down
2.3 percent at 1,308.8 points, having earlier touched its lowest intraday point
since May 16.
There are also several central bank meetings that will be in focus this
week, with the U.S. Federal Reserve, Bank of England, Swiss National Bank and
the Bank of Japan all expected to hold monetary policy steady against a backdrop
of caution heightened by the global impact from a possible Brexit.
The French drugmaker said two pivotal phase III clinical trials of its LixiLan
diabetes drug had met their targets, readying it for approval in the United
States in August and in Europe early next year. P6N16Q025
BNP Paribas , the world's fourth-largest securities custodian, expects to
grow fiduciary services in Brazil by replacing foreign rivals exiting Latin
America's largest economy, two senior executives said. L1N1921P7
, UBI BANCA
Adviser Egon Zehnder has drawn a tentative list of CEO candidates, including
BofA-ML Italy head Marco Morelli, Mediobanca CEO Alberto Nagel, Credit
Agricole's Cariparma unit CEO Alberto Maioli and CDP CEO Fabio Gallia, who has
said he is committed to the state agency, Corriere della Sera reported.
The paper quoted sources close to the matter as saying that an outsider
could be picked if there is no accord over one of three names to be submitted to
the corporate governance committee -- in that case UBI CEO Victor Massiah could
be a possible choice.
Norway's Goliat offshore production facilities are currently producing about
80,000 barrels of oil per day (bpd) and will soon reach a peak production of
about 100,00 bpd, Eni said on Friday after CEO Claudio Descalzi visited to
Indicated down 1 pct
Monsanto (NYSE: MON ) MON.N has still not opened its books more than two weeks after it
rejected Bayer's $62 billion acquisition offer but left the door open to a
possible deal, according to people familiar with the matter. ITALIA TLIT.MI
CK Hutchison Holdings 0001.HK and Vimpelcom VIP.O have offered to divest
a chunk of spectrum, more than 8,000 network sites and a roaming deal to a small
rival in a bid to convince EU regulators to approve their planned Italian mobile
The new CEO Flavio Cattaneo plans to appoint George Nazi, who joined Telecom
Italia in February, as new technology chief after Roberto Opilio resigns joining
a growing list of top managers who have recently left the group, Corriere della
Sera reported on Saturday.
Chief Executive Boris Collardi tells Swiss newspaper Schweiz am Sonntag that
focus will be on organic growth this year and on Asia, says he is confident
Julius Baer will reach new money growth target of 4-6 pct this year
The biggest cement maker said it has identified another nine countries where
it would make divestments "if we can achieve favourable valuations", without
naming the locations, the Financial Times reported on Monday. The company has
said it is on track to hit its 3.5 billion Swiss franc ($3.63 billion) asset
sale goal this year with disposals including in Saudi Arabia, South Korea and
India, with a "substantial amount" of divestments slated for 2017, too.
For more click LHN.S
British budget airline easyJet has explored setting up a separate European
business if Britain votes to leave the European Union in a June 23 referendum,
the Sunday Telegraph newspaper reported. BANK OF SCOTLAND RBS.L
The former CEO of a software company is suing RBS for allegedly conspiring
to push the business into administration to benefit from its sale, court filings
show, in the latest case to allege misconduct by the bank's restructuring
Executives at a metals warehouse firm owned by commodities group Glencore
allegedly ordered workers to falsify documents in New Orleans to manipulate the
zinc market, according to a complaint filed by zinc purchasers in a U.S. Federal
Court. AMERICAN AAL.L
De Beers will sell its 50 percent stake in Botswana's sole coal mine to the
government as part of a plan by the diamond producer's parent company Anglo
American to whittle down its commodities portfolio. BMWG.DE
Indicated down 1.1 pct
BMW sees the U.S. market at best stagnating in 2016, sales chief Ian
Robertson tells Automobilwoche. "We are working to markedly cut inventories at
our dealers," he said.
Indicated down 1.1 pct
A Frankfurt court is expected to rule on carousel trade in emission
certificates, with two Deutsche Bank employees accused of having evaded taxes
when buying and selling carbon emission certificates.
> Asia stocks at 2-mth lows, yen up as Brexit fears grip markets
> U.S. stock index futures point to lower open .N
> Nikkei slumps to 5-week low as Brexit woes hit global equities .T
> TREASURIES-Yields fall to four month lows on Brexit fears US/N
> Dollar slips against yen as Brexit fears stoke risk aversion FRX/
> PRECIOUS-Gold rises to nearly 4-wk high as Asian stocks slide GOL/
> METALS-Copper rises ahead of central bank meetings MET/L
> Oil prices fall back below $50 as economic concerns rise O/R
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). 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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