European Factors-Shares set to fall, focus on data

(Adds futures, more company items; updates snapshot table)

LONDON, Aug 31 (BestGrowthStock) – European shares were set to fall on Tuesday,
after declines in Asia and on Wall Street, as worries about the slowing pace of
economic recovery resurfaced.

At 0636 GMT, Euro Stoxx (STXEc1: ) futures were down 1.7 percent, Germany’s
DAX futures (FDXc1: ) were down 1.4 percent and France’s CAC-40 futures (FCEc1: )
were down 1.5 percent.

On Monday, the FTSEurofirst 300 (.FTEU3: ) index of leading European shares
fell 0.1 percent to 1,0125.48 points, in thin volumes, with UK markets closed
for a holiday.

The European benchmark index is up 59 percent from its lifetime low of March
9, 2009. But it is on course to finish August lower, on worries about European
debt levels and the strength of the economic recovery.
Later in the session, investors will focus on the U.S. June Case/Shiller
house price index, August’s Chicago PMI and Conference Board consumer confidence
data.

U.S. stocks (Read more about the stock market today. ) fell in the year’s lightest volume on Monday as concerns about
the recovery overshadowed data showing a rise in consumer spending and income.

Tokyo stocks (.N225: ) closed 3.6 percent lower on Tuesday, erasing two days
of gains after the Bank of Japan’s emergency Monday move failed to curb strength
in the yen.

———————-MARKET SNAPSHOT AT 0617 GMT———————-

LAST PCT CHG NET CHG

S&P 500 (.SPX: ) 1,048.92 -1.47 % -15.67

NIKKEI (.N225: ) 8,824.06 -3.55 % -325.2

MSCI ASIA EX-JP (.MIASJ0000PUS: ) 478.06 -1.20 % -5.79

EUR/USD (EUR=: ) 1.2637 -0.19 % -0.0024

USD/JPY (JPY=: ) 84.06 -0.66 % -0.5600

10-YR US TSY YLD (US10YT=RR: ) 2.516 — -0.01

10-YR BUND YLD (EU10YT=RR: ) 2.110 — -0.02

SPOT GOLD (XAU=: )$1,232.45 -0.34 % -$4.21

US CRUDE (CLc1: ) $73.61 -1.46 % -1.09

———————————————————————–

* Asia stocks slide, slowing US economy eyed [ID:nSGE67U02Q]

* Wall St falls on economy woes, volume lowest [ID:nN30191861]

* Nikkei drops 3 pct on U.S. economic worry, yen [ID:nTKW007089]

* Treasuries-Steady in Asia before data, Fed minutes [ID:nTOE67U03O]

* Yen near 15-year peak after BOJ move fizzles [ID:nTOE67U019]

* Gold steady as US data, equities eyed; ETF unchanged [ID:nTOE67U03D]

* LME copper 0.7 pct down after holiday [ID:nSGE67U00B]

* U.S. crude falls on slowdown fears, stockpiles up [ID:nSGE67U009]

COMPANY ITEMS

CARREFOUR (CARR.PA: )

The world’s second largest retailer confirmed its profit target for the year
as its turnaround plans were delivering results and swung to a first-half net
income from recurring operations of 67 million euros from a loss of 48 million
in the year-ago period. [ID:nWEA6127], [ID:nWEA6130], [CARR.PA]

RAIFFEISEN INTERNATIONAL (RIBH.VI: )

Raiffeisen International missed expectations in the second quarter, with net
profit of 71 million euros ($90.3 million), hurt by rising administrative
expenses even as charges for bad debt fell.

IRISH LIFE & PERMANENT (IPM.I: )

Bancassurer Irish Life & Permanent (IPM.I: ) shrank its operating losses in
the first half, defying expectations they would increase, on the back of a sharp
improvement in its life operations. Ireland’s largest life insurer and fund
manager reported an operating loss of 10 million euros, compared with a
shortfall of 51 million the previous year and expectations of an 88 million
loss, based on the mean estimate of four analysts polled by Reuters.

ALPHA BANK (ACBr.AT: )

Greece’s third-largest lender said first-half net profit fell 82.2 percent
year-on-year, including a 61.9 million euro one-off tax, hit by higher
provisions and weaker loan growth as the recession deepened.

HERMES (HRMS.PA: )

French luxury goods group Hermes posted a 52 percent rise in first-half
operating profit, boosted by leather goods, and slightly raised its financial
targets for the full year.

SEB (SEBF.PA: )

The household appliances group said operating profit more than doubled to
141 million euros in the first-half, due to an improved operating margin and
lower expenses. SEB said it was confident in achieving 2010 revenue growth and
an operating margin improvement in line with market expectations. [SEBF.PA]

BUNZL (BNZL.L: )

The outsourcing group said first-half profit before tax was 125.1 million
pounds, up 8 percent.

ILIAD (ILD.PA: )

French telecoms group Iliad kept its financial goals on Tuesday after it
posted a sharp rise in first-half profits, helped by a faster-than-expected
turnaround at its struggling Alice broadband unit.

IPSEN (IPN.PA: )

The French drugmaker posted a 7 percent rise in first-half earnings on the
back of growing sales of specialty care drugs, such as for treating cancer, and
kept its goals for the year. [ID:nLDE67I1OG]

(Reporting by Brian Gorman)

European Factors-Shares set to fall, focus on data