Europe Factors-Shares set to rise; UK stocks could dip

(Adds futures, details, company news; updates snapshot table)

PARIS, Dec 29 (BestGrowthStock) – European stock index (Read more about the euro currency recovery. ) futures pointed to a slightly
higher open on Wednesday, although UK stocks were seen retreating as the UK
market reopens after a long holiday weekend, catching up with Monday’s sharp
losses in the rest of Europe.

Heavyweight mining stocks will be in the spotlight as heavy rains disrupt
Australian coal exports and Rio Tinto (RIO.L: ) declared force majeure on some
coal sales contracts. [ID:nL3E6NO08S]

By 0710 GMT, futures for Euro STOXX 50 (STXEc1: ), for Germany’s DAX (FDXc1: )
and for France’s CAC (FCEc1: ) were up 0.2-0.3 percent, while financial
spreadbetters expected Britain’s FTSE 100 (.FTSE: ) to open 27 to 32 points lower,
or as much as 0.5 percent.

Investors will keep an eye on the fixed income market on Wednesday, with
German government bonds opening lower after U.S. Treasury yields jumped
overnight as an auction of 5-year notes drew dismal demand, raising concerns for
a sale of 7-year paper later in the session.

On Wall Street on Tuesday, the Dow and S&P 500 climbed in light trading,
extending December’s rally, as cold weather in the Northeast lifted oil prices
and energy shares.

European shares also rose in thin holiday trade on Tuesday, rebounding from
the previous session’s selloff that had been sparked by China’s surprise
interest rate hike, and resuming their brisk December rally.

The FTSEurofirst 300 is up 6.9 percent so far this month, on track to record
its best Christmas rally since 1999.

———————-MARKET SNAPSHOT AT 0716 GMT———————-

LAST PCT CHG NET CHG

S&P 500 (.SPX: ) 1,258.51 0.08 % 0.97

NIKKEI (.N225: ) 10,344.54 0.5 % 51.91

MSCI ASIA EX-JP (.MIASJ0000PUS: ) 560.36 0.84 % 4.68

EUR/USD (EUR=: ) 1.3144 0.21 % 0.0027

USD/JPY (JPY=: ) 82.17 -0.30 % -0.2500

10-YR US TSY YLD (US10YT=RR: ) 3.448 — -0.04

10-YR BUND YLD (EU10YT=RR: ) 2.990 — 0.00

SPOT GOLD (XAU=: ) $1,407.36 0.13 % $1.86

US CRUDE (CLc1: ) $91.49 0.00 % 0.00

———————————————————————–

S&P, Dow rise on energy, keeping rally alive [ID:nN28249896]

GLOBAL MRKTS-Japan stocks up, miners drag on Australia [ID:nL3E6NT03N]

Nikkei inches up; outlook bright heading into 2011 [ID:nTOE6BS01P]

Oil tops $91 as US crude inventories seen off [ID:nL3E6NS06X]

Dollar settles after whipsaw moves, franc shines [ID:nTOE6BS016]

LME copper hits record after Xmas break; tracks US rally [ID:nL3E6NT01M]

Gold steady after lackluster US data, outlook bullish [ID:nL3E6NT02D]

COMPANY NEWS:

MINING STOCKS

Rio Tinto (RIO.L: ) has declared force majeure on some coal sales contracts
due to heavy rains at collieries in Australia’s Queensland state, the company
said, adding that it was not yet able to assess the full impact of the rains on
coal ming and transportation lines. For details, see: [RIO.L-E]

DEUTSCHE BANK (DBKGn.DE: )

Japanese regulators have made a list of the top 60 “too big to fail”
financial institutions, with Deutsche Bank ranked at the top followed by Goldman
Sachs (GS.N: ) and JPMorgan Chase (JPM.N: ), Japan’s Mainichi newspaper reported on
Wednesday. [ID:nTOE6BS00R]

SOCIETE GENERALE (SOGN.PA: )

Europe’s crisis-scarred banking sector is unlikely to undergo a wave of
consolidation in 2011 as big lenders focus on hammering their business models
into shape, Societe Generale’s chief executive told CNBC. [ID:nLDE6BR0Q2]

BNP PARIBAS (BNPP.PA: )

The French bank said it has frozen two investment funds worth an estimated
236 million euros for technical reasons after entrusting them to another
portfolio manager. [ID:nLDE6BR135]

SAP (SAPG.DE: )

The software maker must pay Oracle Corp (ORCL.O: ) prejudgment interest on a
recent $1.3 billion copyright infringement verdict, but not at the formula
suggested by Oracle, according to a judge’s ruling filed late on Tuesday.
[ID:nN28262398]

FIAT (FIA.MI: )

Leaders of Italy’s Fiom union are due to meet on Wednesday and are likely to
call a strike against a labour deal that car maker Fiat (FIA.MI: ) clinched with
other unions last week, a Fiom source said on Tuesday. [ID:nLDE6BR12A]

AREVA (CEPFi.PA: )

The French nuclear reactor maker said its 900 million-euro capital increase
reserved for the Kuwait Investment Authority and the French state had been
carried out. [CEPFi.PA-E]

SIEMENS (SIEGn.DE: )

The engineering conglomerate will supply 258 wind turbines to Warren
Buffett’s MidAmerican Energy Co as part of a massive Iowa wind farm expansion,
Siemens said late on Tuesday night adding that the order is its largest to date
for an onshore wind project. [ID:nN28260101]

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

Europe Factors-Shares set to rise; UK stocks could dip