Europe Factors-Shares set to dip; eyes on earnings

(Adds futures, company news; updates snapshot table)

PARIS, Oct 26 (BestGrowthStock) – European stocks were set to dip on Tuesday, with
tech shares in focus after Texas Instruments Inc (TXN.N: ) warned its
fourth-quarter revenue will be hurt by slowing demand for chips for computers
and televisions.

Investors were also digesting mixed results from European bellwethers such
as UBS (UBSN.VX: ) and ArcelorMittal (ISPA.AS: ).

Switzerland’s biggest bank said it has met a key turnaround goal earlier
than anticipated, but its investment banking division posted a third-quarter
loss, while ArcelorMittal, the world’s largest steelmaker, forecast a far weaker
fourth quarter than expected due to muted demand, lower prices and higher raw
material costs.

By 0612 GMT, futures for the STOXX Europe 50 (STXEc1: ), for Germany’s DAX
(FDXc1: ) and for France’s CAC (FCEc1: ) were down 0.1-0.4 percent.

Investors were also bracing for a flurry of quarterly results from U.S.
companies including DuPont (DD.N: ), Ford Motor Co (F.N: ) and Bristol-Myers Squibb
(BMY.N: ).

European shares climbed on Monday, flirting with six-month highs, as miners
gained ground while a weak dollar lifted metals prices, and shares of luxury
goods firms rallied after LVMH (LVMH.PA: ) unveiled a stake in Hermes (HRMS.PA: ).

Investors had kept selling the dollar on expectations that further
asset-buying from the Federal Reserve will lead to debasement of the U.S.
currency, after no major policy initiatives emerged from a Group of 20 finance
ministers meeting over the weekend.

However, Fed officials have not been uniform in their comments about another
round of quantitative easing, leading to some doubts in markets about how big
such a programme will be. Kansas City Fed President Thomas Hoenig even called
more asset buys by the central bank a “very dangerous gamble”. [ID:nWEN1756]

Expectations of more cheap money flooding the financial system have been
pushing up global equity and commodity prices.

———————-MARKET SNAPSHOT AT 0609 GMT———————-

LAST PCT CHG NET CHG

S&P 500 (.SPX: ) 1,185.62 0.21 % 2.54

NIKKEI (.N225: ) 9,377.38 -0.25 % -23.78

MSCI ASIA EX-JP (.MIASJ0000PUS: ) 556.12 -0.01 % -0.08

EUR/USD (EUR=: ) 1.397 0.04 % 0.0005

USD/JPY (JPY=: ) 80.66 -0.12 % -0.1000

10-YR US TSY YLD (US10YT=RR: ) 2.556 — -0.01

10-YR BUND YLD (EU10YT=RR: ) 2.469 — 0.01

SPOT GOLD (XAU=: ) $1,338.75 0.06 % $0.75

US CRUDE (CLc1: ) $82.22 -0.36 % -0.30

———————————————————————–

GLOBAL MARKETS-Asian stocks slip as dollar fights higher [ID:nSGE69P05G]

Wall St advances on dollar weakness, Fed bets [ID:nN25288670]

Tokyo’s Nikkei share average closes down 0.25 pct [ID:nECB001093]

Dollar hovers above record low vs yen, Japan unhappy [ID:nTOE69P012]

Gold steady ahead of Fed move; spot trade thin [ID:nSGE69P05M]

Oil under pressure from dollar as currency link deepens [ID:nSGE69P04H]

COMPANY NEWS:

UBS (UBSN.VX: )

Switzerland’s biggest bank has stopped bleeding client money for the first
time since early 2008, meeting a key turnaround goal earlier than anticipated,
though investment banking reported a third-quarter loss.

ARCELORMITTAL (ISPA.AS: )

The world’s largest steelmaker, forecast a far weaker fourth quarter than
expected due to muted demand, lower prices and higher raw material costs.
[ID:nLDE69O0SQ]

TECH SHARES

Texas Instruments Inc (TXN.N: ), which is a key supplier of Nokia (NOK1V.HE: ),
late on Monday reported slightly better-than-expected results for the September
quarter, but warned its fourth-quarter revenue will hit by slowing demand for
chips for computers and televisions. For details, see: [ID:nN25274454]

MERCK (MRCG.DE: )

The company cut its full-year sales outlook on slower demand for its liquid
crystal (LC) chemicals for flat screens. [ID:nLDE69J0UR]

KPN (KPN.AS: )

The Dutch telecoms group kept its full-year guidance after reporting
better-than-expected third-quarter results driven by higher service revenue
growth in Germany and strong margins. [ID:nLDE69L0XB]

LUXOTTICA (LUX.MI: )

Luxottica is targeting net profit of 400 million euros in 2010, above its
previous full-year target and 27 percent higher than in 2009, after beating
forecasts with its third-quarter results. [ID:nLDE69L1OE]

NATIXIS (CNAT.PA: )

Natixis Global Asset Management has acquired a majority stake in Ossiam, an
asset management start-up, which will specialise in exchange traded funds.
[CNAT.PA]

HSBC (HSBA.L: )

Rumours persist that the bank is lining up a $65 a share cash offer for
Northern Trust (NRTS.O: ), the Daily Mail market report said.

AREVA (CEPFi.PA: ), GDF SUEZ (GSZ.PA: )

The French nuclear reactor maker and the energy company have restarted
discussions about working together in the nuclear industry, Les Echos reported.
[ID:nLDE69O2A4]

RENAULT (RENA.PA: )

Nissan Motor Co (7201.T: ), in which Renault has a significant stake, launched
its first hybrid gasoline-electric car developed in-house. [ID:nTOE69P01F]

AIR LIQUIDE (AIRP.PA: )

posted a higher-than-expected 15 percent rise in quarterly sales thanks to
booming emerging markets and a further recovery in Europe and North America, and
said investments had accelerated. [ID:nLDE69K1NE]

(Reporting by Blaise Robinson)

Europe Factors-Shares set to dip; eyes on earnings