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PARIS, Jan 7 (Reuters) - European stocks are set to fall in early trade on
Wednesday as investors, rattled by a dismal 2008, book gains after a six-session
winning streak ahead of key U.S. jobs data due later in the week.

At 0727 GMT, futures for the DJ Euro Stoxx STXEc1, for Germany's DAX
FDXc1 and for France's CAC FCEc1 were down between 0.1 percent and 0.4
percent, while financial spreadbetters expect Britain's FTSE 100 .FTSE to open
16 points lower.

In the latest evidence of a deep economic downturn, Alcoa Inc (AA.N: Quote, Profile, Research) said on
Tuesday it will slash more than 15,000 jobs, halve capital spending and sell
four businesses as it reduces aluminium production.

The U.S. operations of LyondellBasell, the world's third-largest
petrochemical company of which Swiss lender UBS (UBSN.VX: Quote, Profile, Research) is a major creditor,
filed for bankruptcy protection under the weight of a massive debt load and
falling demand for its products.

"It's too early to be optimistic. The bankruptcy filing in the U.S. by
LyondellBasell is not a good sign. It could be the first of a long series of
defaults and Chapter 11 filings by industrial groups. These companies are still
under pressure on two fronts: profitability and refinancing, and that's not
about to change," said Sebastien Barthelemi, analyst at Louis Capital Markets,
in Paris.

On the macro side, minutes of a December rate-setting meeting released on
Tuesday showed Federal Reserve officials believed the U.S. economy would face
"substantial" risks even as benchmark interest rates were cut to near zero, with
some worrying about the risk of deflation.

European stocks climbed on Tuesday for the sixth straight session and ended
at their highest closing level since Nov 10, as rallying metal prices and hopes
of big infrastructure spending boosted mining and steel shares.

The FTSEurofirst 300 has gained 10.7 percent over the past six
sessions, its longest winning streak since late October.

----------------------MARKET SNAPSHOT AT 0719 GMT----------------------

LAST PCT CHG NET CHG

S&P 500 .SPX 934.70 0.78 % 7.25

NIKKEI .N225 9,239.24 1.74 % 158.4

MSCI ASIA EX-JP .MIASJ0000PUS 304.89 -0.09 % -0.26

EUR/USD EUR= 1.3498 -0.22 % -0.0030

USD/JPY JPY= 93.73 0.09 % 0.0800

10-YR US TSY YLD US10YT=RR 2.464 -- 0.01

10-YR BUND YLD EU10YT=RR 3.137 -- -0.02

SPOT GOLD XAU= $858.95 -0.51 % -$4.40

US CRUDE CLc1 $47.85 -1.50 % -0.73

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* Wall St rises on stimulus plan hopes; tech leads [ID:nL7266175]

* Asia stocks at 2-month high, dollar firm [ID:nL7267046]

* Nikkei at 2-mth high, logs 7-day winning run [ID:nT40250]

* Dollar holds firm near 1-month high vs euro [ID:nT34603]

* Oil steady under $49, eyes U.S. inventory [ID:nSIN418165]

* TREASURIES-Slip in Asia on improved risk appetite [ID:nT34508]

* Gold dips on firmer dollar, platinum extends gains [ID:nT66130]

* Base metals march higher ahead of index tweaks [ID:nSP397380]

COMPANY ITEMS:

UBS (UBSN.VX: Quote, Profile, Research)

The U.S operations of petrochemicals company LyondellBasell, of which UBS is
a major creditor, have filed for bankruptcy proctection.

For more click on [ACCEIN.UL]

MARKS & SPENCER (MKS.L: Quote, Profile, Research)

The retailer, which is due to issue its trading update, plans to shut down
more than 10 of its stand-alone 'Simply Food' stores as it battles tough trading
conditions, the Financial Times said.

For details, see:[ID:nL7605482]

BP (BP.L: Quote, Profile, Research)

The oil major appointed the man who led negotiations with its oligarch
partners in Russian joint venture TNK-BP (TNBPI.RTS: Quote, Profile, Research) as head of its U.S. unit.

For details, see:[ID:nL626291]

PSA PEUGEOT-CITROEN (PEUP.PA: Quote, Profile, Research)

PSA Peugeot Citroen (PEUP.PA: Quote, Profile, Research) is to scrap the night shift at its Sochaux
site from Feb 2, in response to falling vehicle sales, a CGT union source told
Reuters. For details, see:[ID:nB436227]

EADS (EAD.PA: Quote, Profile, Research)

Airbus said on Tuesday that it was postponing to the first half 2010
deliveries of its A330-200F freighter because of strong demand for the A330
passenger version, Les Echos and Le Figaro report on Wednesday. Deliveries of
the freighter version were previously slated for the second half of 2009.

DEUTSCHE BANK (DBKGn.DE: Quote, Profile, Research)

Germany's largest bank will not be part of the group of nine banks that is
to manage Commerzbank's (CBKG.DE: Quote, Profile, Research) planned issue of a state-backed bond this
month, Frankfurter Rundschau reported, citing financial sources.

Related news [DBKGn.DE-LEN-RTRS]

SANTANDER (SAN.MC: Quote, Profile, Research), ENEL (ENEI.MI: Quote, Profile, Research), ENDESA (ELE.MC: Quote, Profile, Research)

Spanish bank Santander will loan Italy's Enel some 1.3 billion euros ($1.74
billion) to acquire Acciona's (ANA.MC: Quote, Profile, Research) 25 percent stake in Spanish utility
Endesa, Cinco Dias reported, citing unnamed sources involved in the operation.

VODAFONE (VOD.L: Quote, Profile, Research)

Verizon Wireless, owned by Vodafone and Verizon Communications (VZ.N: Quote, Profile, Research), is
poised to let rivals of Amazon's (AMZN.O: Quote, Profile, Research) popular electronic Kindle reader use
its network to download material such as books and newspapers wirelessly,
according to an executive for the wireless service provider.

For details, see:[ID:nN06446982]

SODEXO (EXHO.PA: Quote, Profile, Research)

Sodexo reiterates its fiscal 2009 goals after first-quarter sales rise 5.6
percent to 3.98 billion euros. For details, see: [ID:nWEA0668]

THYSSENKRUPP (TKAG.DE: Quote, Profile, Research)

Germany's biggest steelmaker expects incoming orders to rebound somewhat at
the beginning of 2009, the finance chief of the group's main steel unit, Peter
Urban, told daily Handelsblatt. For details, see: [ID:nL6103184]

(Reporting by Blaise Robinson)