Europe Factors-Shares set to rise after Irish deal

(Adds futures, company news, updates snapshot table)

PARIS, Nov 29 (BestGrowthStock) – European stocks were set to rise on Monday,
reversing some of last week’s losses as Ireland’s rescue deal helps soothe fears
over the debt-laden country, but the rebound will be limited by lingering
worries of contagion to other euro zone economies.

By 0715 GMT, futures for Euro STOXX 50 (STXEc1: ), for Germany’s DAX (FDXc1: )
and for France’s CAC (FCEc1: ) were up between 0.1 percent and 0.4 percent.

On Sunday, EU finance ministers endorsed an 85 billion-euro loan package to
help Ireland cover the country’s bad bank debts and bridge its budget deficit,
while also approving the outlines of a permanent crisis-resolution system.
[ID:nLDE6AR0MC]

European Central Bank policymaker Christian Noyer sought to boost market
confidence in the rescue deal for Ireland, telling investors they should have
faith in the plan’s success.

“There is no reason to doubt the recovery plans of the two countries,”
Noyer said in a speech in Tokyo, referring to Ireland and Greece.
[ID:nLDE6AR0MC]

But the euro fell (Read more about the trembling euro. ) to its lowest level in two months against the dollar as
investors looked past the rescue package for Ireland to other euro zone
economies. [ID:nTOE6AS02Z]

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For Take a Look on euro zone debt crisis: [ID:nLDE68T0MG]

Graphic on euro zone debt woes: http://r.reuters.com/zem66q

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“The Irish bailout deal may have had the potential to remove one potential
headache from the global economic agenda but markets are now worrying about
which euro zone economy will tumble next,” IG Markets dealer Chris Weston wrote
in a note.

European equities lost ground on Friday, led lower by banking stocks, hit by
concern Portugal could become the next country in the euro zone to seek
financial help.

The FTSEurofirst 300 (.FTEU3: ) index of top European shares has lost 3
percent since reaching a 2-year high earlier this month, while the Euro STOXX 50
(.STOXX50E: ) is down 5.7 percent over the same period, as fears over the euro
zone debt crisis resurfaced.

———————-MARKET SNAPSHOT AT 0710 GMT———————-

LAST PCT CHG NET CHG

S&P 500 (.SPX: ) 1,189.40 -0.75 % -8.95

NIKKEI (.N225: ) 10,125.99 0.86 % 86.43

MSCI ASIA EX-JP (.MIASJ0000PUS: ) 538.09 0.15 % 0.82

EUR/USD (EUR=: ) 1.3239 -0.35 % -0.0046

USD/JPY (JPY=: ) 84.00 -0.02 % -0.0200

10-YR US TSY YLD (US10YT=RR: ) 2.875 — 0.01

10-YR BUND YLD (EU10YT=RR: ) 2.760 — 0.02

SPOT GOLD (XAU=: ) $1,362.46 0.05 % $0.73

US CRUDE (CLc1: ) $84.36 0.72 % 0.61

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GLOBAL MARKETS-Euro shrugs off Irish deal, doubts abound [ID:nSGE6AR02]

S&P futures rise after news of Irish aid package [ID:nN28258005]

Nikkei claws back towards 5-mth high as yen helps [ID:nTOE6AS04O]

Euro at 2-month low, focus moves to Portugal, Spain [ID:nTOE6AS02Z]

Oil approaches two-week high on Ireland rescue [ID:nL3E6MT043]

Gold bounces from lows; jewellers buy [ID:nL3E6MT01W]

Copper steady after Ireland deal, doubts linger [ID:nL3E6MT04J]

COMPANY NEWS:

BP (BP.L: )

BP said it had agreed to sell its stake in Argentina-based oil and gas group
Pan American Energy (PAE) to Bridas Corp, half-owned by China’s CNOOC (0883.HK: ),
for $7 billion, as it raises cash to pay for the Gulf oil spill. [ID:nLDE6AR059]

PRYSMIAN (PRY.MI: ), DRAKA (DRAK.AS: ), NEXANS (NEXS.PA: )

A successful bid by China’s Xinmao for Dutch Draka could deprive Europe of
key optical fibre technology, the CEO of Italian rival bidder Prysmian was
quoted as saying on Saturday. [ID:nLDE6AQ01G]

HOCHTIEF (HOTG.DE: ) ACS (ACS.MC: )

German financial regulator BaFin is likely to block a takeover bid by
Spain’s ACS for Hochtief, magazine Der Spiegel reported, without saying where it
got the information. [ID:nLDE6AQ03I]

Separately Australia’s takeover panel said it would not make a declaration
of unacceptable circumstance related to ACS taking control of Hochtief’s
Leighton Holdings (LEI.AX: ). [ID:nSDYTME6I9]

HERMES (HRMS.PA: ), LVMH (LVMH.PA: )

Hermes has hired BNP Paribas and Bank of America Merrill Lynch as advisers
in response to predatory moves by larger rival LVMH, The Daily Telegraph
reported on Saturday.

Separately, Le Journal du Dimanche reported descendants of the founding
Dumas family, who control over 70 percent of Hermes shares, will meet on Friday
Dec. 3 at the company’s Paris headquarters to discuss how to maintain control of
the group. [ID:nLDE6AQ03F]

TOTAL (TOTF.PA: ). TESTCO (TSCO.L: )

Greenergy, a supplier of fuel to British supermarket petrol stations, has
launched a 1 billion pound-plus ($1.6 billion) bid to buy Total France’s UK
retail network, the Mail on Sunday reported. [ID:nLDE6AR07G]

Greenergy, in which Tesco owns a 35.6 percent stake with the balance held by
management and staff, is also interested in acquiring 460 forecourts from U.S.
oil firm Murco, the newspaper said.

EADS (EAD.PA: )

EADS is confident it can sell up to 500 of its Airbus A400M military
transporters and that the project will be profitable, the aircraft maker’s
finance chief told a German newspaper. [ID:nLDE6AQ05L]

E.ON (EONGn.DE: )

The power utility plans to sell its stake in Russian gas monopoly Gazprom
(GAZP.MM: ), according to Klaus Mangold, the head of a German industry association
for relations with eastern European countries. [ID:nLDE6AP1V7]

METRO (MEOG.DE: )

Last week’s retail sales, seen as a harbinger for the holiday shopping
season, were better than expected and considerably higher than last year as
department stores saw a particularly strong rebound, Germany’s retail industry
association HDE said on Sunday, citing from its survey of members.
[ID:nLDE6AR0AG]

(Reporting by Blaise Robinson; Editing by Jon Loades-Carter and Simon Jessop)

Europe Factors-Shares set to rise after Irish deal