May 24, 2016 / 6:16 AM / 2 years ago

European Factors to Watch-Equity futures 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, May 24 (Reuters) - European equity futures fell on Tuesday, tracking losses on Asian and U.S. markets as investors worried about the possibility of a U.S. interest rate increase in coming weeks.

Futures on the Euro STOXX 50, Germany’s DAX, France’s CAC and Britain’s FTSE were all down by between 0.4-0.6 percent.

A string of comments in recent weeks by U.S. Federal Reserve officials and minutes of the last Fed meeting have put a U.S. possible rate hike firmly on the table for June or July, impacting global equity markets.

The pan-European FTSEurofirst 300 index closed down 0.5 percent on Monday.

COMPANY NEWS:

BANKS:

Revenue at the world’s 12 largest investment banks fell 25 percent in the first quarter from a year ago as economic uncertainty and investor caution led to the slowest start since the financial crisis, a survey showed on Tuesday.

BSI:

Singapore’s central bank on Tuesday ordered BSI’s operations in the city-state to close down as Switzerland opened criminal proceedings against the private bank based on its investigation into transactions by Malaysia’s troubled state fund, 1MDB.

HENKEL/UNILEVER/L‘OREAL:

Unilever NV, Henkel & Co KgaA AG, L‘Oréal SA and other companies have submitted first-round bids in the auction for OGX shampoo maker Vogue International LLC, people familiar with the matter said on Monday.

SEB:

Household equipment manufacturer SEB said it had agreed to buy WMF, a German maker of coffee machines and silverware, from KKR in a deal worth 1.59 billion euros including debt.

TOTAL:

Oil sector workers of French CGT and FO unions voted on Monday to begin a strike at Exxon Mobil’s 240,000 barrels-per-day Port Jerome refinery in northern France, the unions said in a joint statement.

UNICREDIT:

UniCredit is set to formally start the search for a new chief executive on Tuesday in a move expected to lead to a broader shake-up of the Italian bank and possibly a multi-billion euro capital increase, several sources said.

VERSACE:

Italian fashion house Versace named the former head of British brand Alexander McQueen as its new chief executive, in an unexpected move ahead of a planned stock market listing against a backdrop of slowing luxury industry growth. ------------------------------------------------------------------------------ > GLOBAL MARKETS-Asian stocks near 10-week lows; dollar bounces on Fed rate view > US STOCKS-Wall Street dips; Apple gain fails to offset rate worries > Nikkei slides on yen worries as investors brace for U.S. data > TREASURIES-Short-dated U.S. yields tick higher on rate-hike bets > FOREX-Risk aversion shores up yen, commodity currencies sag on declining oil > METALS-Copper sits near three-month lows as dollar holds strong > Oil prices fall as dollar gains, but possible stock drawdown supports

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 mike.dolan@thomsonreuters.com.

Mike Dolan, Markets Editor EMEA. (Reporting by Sudip Kar-Gupta)

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