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European Factors to Watch-Shares set to fall after weak China manufacturing data
September 1, 2015 / 5:36 AM / 2 years ago

European Factors to Watch-Shares set to fall after weak China manufacturing data

LONDON, Sept 1 (Reuters) - European stocks were seen falling at the open on
Tuesday after weak manufacturing data from China raised fresh concerns over the
health of its economy and hit Asian markets.
     Activity in China's manufacturing sector contracted at its fastest pace in
three years in August, an official survey showed on Tuesday, reinforcing fears
of a sharper slowdown in the world's second-largest economy despite a flurry of
government support measures. 
    Shares in Asia fell following the data. 
    "At a time when the People's Bank of China is already making big efforts to
shore up the economy, this is very concerning," Craig Erlam, senior market
analyst at OANDA, said in a note.
    "It's no surprise that people expect the economy to slow well below 7
percent in the second half of the year, unless of course we see further monetary
and fiscal stimulus measures, which is likely."
    Futures on the Euro STOXX 50, Germany's DAX, France's CAC
 and Britain's FTSE were 2.2-1.3 percent lower at 0601 GMT.
    Investor caution over Chinese growth contributed to a drop in European
shares in August, with the pan-European FTSEurofirst 300 chalking up
its biggest monthly loss in four years on Monday. 
    Britain's stock market will re-open after being closed for a public holiday
on Monday.
    Bayer is pushing ahead with a listing of its Material Science division. "We
are on track, I am not concerned about China," the division's chief, Patrick
Thomas, told German daily Rheinische Post. An IPO is planned by mid 2016.
    Manz AG said it received an order for a production line for lithium-ion
batteries with a sales volume of around 12 million euros. The agreement contains
the option for additional production in the USA and China. The orders will
impact revenues and earnings in the current fiscal year and in some cases in the
coming year, Manz said.
    The Swiss crop chemicals maker said it has won U.S. approval for its
fungicide solatenol, adding global peak sales could reach $1 billion. 
    The drugmaker said it received EU approval for Tafinlar and Mekinist, the
first combination approved for patients with an aggressive form of melanoma.
    UBS said it has completed its SESTA procedure and will pay a supplementary
dividend of 0.25 Swiss francs on Sept. 22. It's also starting a new marketing
campaign with celebrity photographer Anne Leibowitz. 
    Italian private equity firm Investindustrial has been discussing for months
with French luxury group Kering a possible purchase of its Sergio
Rossi shoe brand but a deal is still far away, a source close to the matter said
on Monday.
    European telecoms group Altice on Monday named sector expert
Michel Combes as its chief operating officer and as chairman of its
Numericable-SFR  mobile phone business to help accelerate its expansion.
    French outdoor advertising company JCDecaux buys a 70 percent stake in
Peru's advertising company Eye Catcher Media, with founding shareholders Luiz
Felipe Mauger and Miguel Claux, retaining a 30 percent stake in company.
    The construction group said after market close on Monday that it would pay
its first dividend in four years this year and aimed to nearly double its core
profit between 2016 and 2020, marking its recovery from Spain's deep economic
    To partner with Valeant on brodalumab product. Under the terms of
the agreement, Valeant will make an upfront payment to Astrazeneca of $100
    Punch Taverns ees full-year profits in line with management expectations.
    AGA - Receives approach regarding possible cash offer from Whirlpool
    VIRGIN MONEY - CFO Lee Rochford steps down. 
    ROYAL DUTCH SHELL - Says Puget Sound refinery units normal after
power blip. 
    0745    IT    Markit/ADACI Mfg PMI
    0750    FR    Markit Mfg PMI
    0755    DE    Markit/BME Mfg PMI
    0755    DE    Unemployment
    0800    EZ    Markit Mfg Final PMI
    0800    IT    Unemployment rate
    0830    GB    BOE consumer credit
    0830     GB    Mortgage lending
    0830    GB    M4 Money supply
    0830    GB    Markit/CIPS Mfg PMI
    0900    EZ    Unemployment rate
    0900    IT    GDP Final
    1230    CA    GDP
    1255    US    Redbook
    1330    CA    RBC Mfg PMI
    1345    US    Markit Mfg PMI
    1430    US    ISM
                                    LAST       PCT CHG  NET CHG
 S&P 500                            1,972.18   -0.84 %  -16.69
 NIKKEI                             18355.88   -2.83 %  -534.6
 MSCI ASIA EX-JP                    400.33     -0.82 %  -3.31
 EUR/USD                            1.1272     0.54 %   0.0061
 USD/JPY                            120.63     -0.49 %  -0.5900
 10-YR US TSY YLD                   2.186      --       -0.01
 10-YR BUND YLD                     0.807      --       0.01
 SPOT GOLD                          $1,142.40  0.73 %   $8.30
 US CRUDE                           $47.69     -3.07 %  -1.51
  > GLOBAL MARKETS-Asian shares slip after downbeat China PMIs    
  > US STOCKS-Wall Street's worst month in 3 years ends on a sour note     
  > Nikkei falls as weak capex data sours mood                    
  > TREASURIES-Prices slip after oil rally triggers inflation fears    
  > FOREX-Yen, euro buoyed by risk aversion as equities retreat        
  > PRECIOUS-Gold gains as equities, dollar retreat                
  > METALS-London copper flat amid China factory woes; nickel slides    
  > Oil prices drop 3 pct as investors retreat from overnight gains    

 (Reporting by Alistair Smout)

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