Europe Factors-Shares seen up ahead of US jobs data
(Adds futures, details; updates snapshot)
PARIS, Sept 4 (Reuters) - European equities were set to rise on Friday, snapping a four-session losing streak and mirroring gains on Wall Street, as investors braced for key monthly U.S. jobs data and unemployment rate.
By 0628 GMT, futures for the DJ Euro Stoxx STXEc1, for Germany's DAX FDXc1 and for France's CAC FCEc1 were up between 0.4 percent and 0.5 percent. Earlier, financial spreadbetters had expected Britain's FTSE 100 .FTSE to open 13 to 17 points higher, or as much as 0.4 percent.
Investors were bracing for monthly U.S. payrolls figures and unemployment rate, due at 1230 GMT, for further clues on the health of the U.S. economy.
U.S. employers are expected to have eliminated 225,000 jobs last month, according to the median forecast of 81 economists polled by Reuters, down from 247,000 in July, while the unemployment rate is forecast to have inched up to 9.5 percent from 9.4 percent.
"With some of the Central Banks making comments about 'exit strategies' at the G20 meeting regarding their respective stimulus packages, a good employment figure this afternoon will give a boost to the markets and bolster confidence," said Robert Pike, head trader at Spreadex, in London.
"If the markets do rally again many investors left on the sidelines will be increasingly desperate to get involved," he said.
U.S. shares gained ground Thursday, halting a four-day losing streak, after stronger-than-expected retail sales data eased recent worries about the pace of the economic recovery.
Japan's Nikkei average fell 0.3 percent to hit its lowest close in five weeks on Friday, with investors' reluctance to buy ahead of key U.S. jobs data outweighing short-covering on better-than-expected U.S. sales figures.
The FTSEurofirst 300 .FTEU3 index of top European shares, which has lost 2.9 percent so far this week, has surged 47 percent since reaching a floor in early March, but is still down about 18 percent from a year ago, right before the collapse of the Wall Street firm Lehman Brothers that accelerated the global credit crisis.
----------------------MARKET SNAPSHOT AT 0626 GMT----------------------
LAST PCT CHG NET CHG
S&P 500 .SPX 1,003.24 0.85 % 8.49
NIKKEI .N225 10,187.11 -0.27 % -27.53
MSCI ASIA EX-JP .MIASJ0000PUS 426.59 0.42 % 1.77
EUR/USD EUR= 1.4265 0.05 % 0.0007
USD/JPY JPY= 92.58 -0.01 % -0.0100
10-YR US TSY YLD US10YT=RR 3.355 -- 0.02
10-YR BUND YLD EU10YT=RR 3.250 -- 0.01
SPOT GOLD XAU= $988.90 -0.12 % -$1.20
US CRUDE CLc1 $68.22 0.38 % 0.26
* Asia shares subdued, gold supports Aussie dlr [ID:nSP451337]
* Nikkei falls in narrow range, Daiwa and SMFG slide [ID:nT314444]
* Oil steady above $68, awaits US jobs data [ID:nSIN448892]
* TREASURIES-Edge down ahead of U.S. jobs report [ID:nT312155]
* Dollar holds ground vs yen in pre-payrolls vigil [ID:nT286762]
* Shanghai copper up, LME lead at 19-month peak [ID:nSP430970]
* PRECIOUS-Gold steady, still flirts with $1,000 [ID:nT309888]
DEUTSCHE TELEKOM (DTEGn.DE), FRANCE TEL (FTE.PA), VODAFONE (VOD.L), TELEFONICA (TEF.MC)
Deutsche Telekom is in talks with Vodafone, France Telecom and Telefonica about selling its British unit T-Mobile UK, the Financial Times said on Thursday in its on-line edition. For details, see:[ID:nB184081]
Chief Executive Dieter Zetsche told German newspaper Bild that the company's 2009 savings will significantly exceed the planned 4 billion euros ($5.71 billion). For details, see:[ID:nWEA9412]
PSA PEUGEOT CITROEN (PEUP.PA)
French carmaker Peugeot Citroen is mulling an alliance with Japan's Mitsubishi Motors Corp (7211.T), French daily La Tribune reported. When asked to comment on the story, a PSA Peugeot Citroen spokesman said that to his knowledge "there was nothing new," adding: "I am not confirming anything." For details, see:[ID:nL3365570]
A Chinese sovereign fund could take a stake in French state-controlled nuclear reactor maker Areva CEPFi.PA., French daily Les Echos reported. An Areva spokeswoman declined to comment on the report. For details, see:[ID:nL3155390]
Separately, shares of Toshiba Corp (6502.T) slid on Friday after Jiji news agency reported the company was considering bidding for French nuclear group Areva's CEPFi.PA power distribution and transmission unit in a deal that could cost it around 500 billion yen ($5.4 billion). [ID:nTKF106585]
The telecoms equipment supplier said it was raising its convertible bonds issue to 1 billion euros from approximately 870 million euros after the full exercise of the over-allotment option. Alcatel announced on Wednesday it planned to raise up to 1 bilion euros to help it refinance its debt. [ID:nWEA9405]
French building materials group Saint Gobain expects cost-cutting measures to help it achieve better earnings in the second half of 2009, its chief executive said on Thursday. For details, see:[ID:nL340412]
Dutch financial group ING has up to five bids for some or all of its for-sale private bank assets, a source familiar with the process said on Thursday, with offers for the full package running close to $2 billion. Separately, S&P lowered the company's credit ratings. [ID:nSP418683] [ID:nWNA2682]
The drug giant and U.S. regulators said on Thursday they had notified healthcare professionals that a type of anemia has been reported in some patients treated with transplant drug Myfortic. [ID:nN03129844]
RIO TINTO (RIO.L)
The miner has suspended iron ore price talks with Chinese steel mills after its top salesman in China was detained, Australia Associated Press said on Friday, quoting Rio's iron ore boss. [ID:nSYU007178]
LLOYDS BANKING GROUP (LLOY.L)
Gladedale Homes will announce on Friday a debt-for-equity swap with Lloyds Banking Group, the Financial Times said. Lloyds took on its loans when it acquired HBOS and is expected to take preference shares in the company in exchange for writing off 500 million pounds of debt, the newspaper said.
S&P revised the group's outlook to negative in consequence of its current high debt relative to peers as well as pressure on downstream profits and uncertainty on chemical-related litigation. [ID:nWNA2702]
Banco Santander SA, the Brazilian unit of Spain's Santander (SAN.MC), filed on Thursday for an initial public offering in Brazil and the United States, in what could become one of the largest IPOs of the year. For more information, click on [ID:nN03124853] (Reporting by Blaise Robinson; Editing by Atul Prakash)
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