European Factors-Shares set to gain on Greece, China

(Adds futures, company news; updates snapshot table)

LONDON, Feb 15 (Reuters) - European shares were set to open higher on
Wednesday on expectations Greece's conservative leader Antonis Samaras would
sign a commitment to implement tough austerity measures and on China's pledge to
keep investing in euro zone government debt.

Euro zone finance ministers cancelled a meeting on Wednesday to discuss
Greece's bailout in the absence of required reform commitments. However, a
government source said Samaras would give the undertaking early on Wednesday.

"The news had such a risk on effect because Samaras, widely tipped to be the
next Prime Minister of Greece, had been extremely vocal about renegotiating the
terms of the bailout after the April elections," said Jonathan Sudaria, dealer
at Capital Spreads.

Sentiment also improved after China's central bank governor said the country
will continue to invest in euro zone government debt, adding that any bigger
role in solving the region's debt crisis would be via the International Monetary
Fund and the European Financial Stability Fund.

Futures for Euro STOXX 50, Germany's DAX and France's CAC
rose 0.8 to 0.9 percent. Financial spreadbetters earlier predicted
Britain's FTSE 100 to open as much as 0.2 percent higher.

Focus will be on banks after France's biggest listed bank, BNP Paribas
, said it ended 2011 with a 50.6 percent drop in quarterly net profit,
hit by losses on Greek debt. The bank said it would pay a 2011 dividend of 1.20
euros ($1.58) per share - down from 2.10 euros for 2010 - with the option to pay
in stock.

Commodity shares were expected to get support from a rise in crude oil
prices on supply fears and strong gains in key base metals prices, with
copper up 0.8 percent and aluminium rising 1.2 percent on a
weaker dollar that made metals cheaper for holders of other currencies.

Investors will keep an eye on economic indicators. Figures showed that
France's economy grew by a stronger-than-expected 0.2 percent in the fourth
quarter from the previous three months. However, German GDP contracted 0.2
percent, against an upwardly revised 0.6 percent in the previous quarter, as
trade and private consumption weighed on growth.

Across the Atlantic, February's Empire State index is due at 1330 GMT, while
the National Association of Home Builders (NAHB) index for February will be
released at 1500 GMT.

MARKET SNAPSHOT AT 0745 GMT

LAST PCT CHG NET CHG

S&P 500 1,350.50 -0.09 % -1.27

NIKKEI 9,260.34 2.3 % 208.27

MSCI ASIA EX-JP 1.67 % 8.70

EUR/USD 1.3169 0.33 % 0.0043

USD/JPY 78.46 0.06 % 0.0500

10-YR US TSY YLD 1.950 -- 0.01

10-YR BUND YLD 1.920 -- 0.01

SPOT GOLD $1,727.20 0.47 % $8.10

US CRUDE $101.63 0.88 % 0.89

* GLOBAL-Markets consolidate as EU tests Greek commitment

* US STOCKS-Shares finish flat in late rally on Greece

* Tokyo's Nikkei share average closes up 2.30 pct

* FOREX-Dollar hits 3-1/2 month high vs yen; more gains

* TREASURIES-Prices gain as retail sales disappoint

* Brent crude above $118 on Mideast supply fears

* PRECIOUS-Gold edges up, fresh Greek concerns still weigh

* METALS-Copper rebounds, eyes Greece resolution

COMPANY NEWS

BNP PARIBAS

France's biggest listed bank ended 2011 with a 50.6 percent drop in
quarterly net profit, hit by losses on Greek debt and asset sales that
nonetheless helped it meet tougher capital targets six months early.

TUI AG

The travel and logistics group reported a wider first-quarter core loss
after political unrest in North Africa affected holiday bookings and its stake
in shipping arm Hapag-Lloyd weighed on results.

TUI said it may try again to float its stake in Hapag-Lloyd as part of its
bid to exit completely from the shipping business, after it failed to agree a
full sale to the container shipper's other shareholder.

PSA PEUGEOT CITROEN

The car maker pledged additional savings and asset sales including its Gefco
trucking unit as it struggles to cut debt amid mounting losses at its core auto
division.

DANONE

French food group Danone said it was entering 2012 with confidence though
consumer spending would stay under pressure in Western Europe and raw material
prices would remain high in the first half of the year.

ENI

The Italian oil and gas group said its adjusted net profit fell 9.5 percent
percent in the fourth quarter as high oil prices and increased Libyan production
were offset by ongoing weakness in its gas and refining business.

HEINEKEN

The world's third-largest brewer has launched a 500 million euro ($657
million) cost savings plan, and forecast revenue growth in emerging markets
would mitigate higher barley costs this year.

AREVA

An internal inquiry at Areva has not found any evidence of fraud linked to
the French nuclear group's takeover of Canadian mining company UraMin but
critised the way it was bought and urged changes to Areva's corporate
governance.

HSBC

The global bank is aiming to increase its presence in mainland China through
an expansion of its branch network, the Financial Times reported on Wednesday,
citing the bank's chief executive Stuart Gulliver.

BP

The oil giant has won permission to explore for deepwater gas reserves in
the South China Sea from China's Ministy of Commerce, the China Daily reported
on Wednesday.

FRANCE TELECOM, ILIAD

France Telecom said its network was being stressed by a rapid growth in
traffic brought on by its hosting of new mobile entrant Iliad and vowed to
protect its clients from service interruptions, its CEO told magazine Le Point.

EADS

The head of Airbus said he ordered an internal investigation into how the
company allowed wing cracks to develop on its flagship A380 passenger jet,
acting to draw a line under weeks of embarrassing publicity for the world's
largest planemaker.

Separately, Airbus launched a plan to convert A330 long-haul passenger planes
to freighter aircraft as it forecast strong growth in cargo demand driven by
expanding global trade.

ROCHE

Counterfeit versions of Roche's multi-billion cancer drug Avastin have been
distributed in the United States, the Swiss drugmaker and its U.S. biotech unit
Genentech said on Tuesday. For related news, click on:

CLARIANT

Clariant is bracing for a sluggish start to the year, the Swiss specialty
chemicals maker said after it posted a sharper-than-expected drop in fourth
quarter net profit on Wednesday. For more click on:

ING

The U.S. Board of Governors of the Federal Reserve System (FRB) has approved
the acquisition of ING Direct USA by Capital One from ING Group.

(Reporting by Atul Prakash)