 |
Get quotes
Related stories
Eurostocks hold Nestle-led gains,index changes loom
France Telecom, techs drag eurostocks down; NY weak
Nestle, Vivendi prop up eurostocks; U.S. data eyed
|
|
European stocks - Factors to watch on August 2
Reuters, 08.02.02, 1:59 AM ET
ADVERTISEMENT
|
LONDON, Aug 2 (Reuters) - European shares are expected to
open flat to weaker on Friday as Wall Street failed to recover
from its sharp losses after Europe's close on Thursday.
French bank Societe Generale <SOGN.PA> reported a 41 percent
slide in net profit for the second quarter, hit by provisions
due to the impact of the stocks slide on its portfolio of
industrial holdings.
UK bank Lloyds TSB <LLOY.L> is also due to report on Friday.
The day's key economic number will be U.S. non-farm payrolls
and unemployment for July at 1230 GMT amid concerns that
recovery in the world's biggest economy is sputtering.
The week's U.S. data so far - consumer confidence and
manufacturing sentiment - have come in weaker than expected,
triggering fear of a "double-dip" in the economy.
Financial bookmakers in London called the UK FTSE 100
<.FTSE> blue chip index and the French CAC-40 <.FCHI> to open
little changed. The German DAX <.GDAXI> was set to start about
30 points lower.
In New York on Thursday, the Dow Jones industrial average
<.DJI> closed down 2.6 percent at 8,506.62 points, and the
Nasdaq Composite <.IXIC> ended off 3.6 percent as investors
worried about the pace of economic recovery.
U.S. stock index futures were weaker, indicating further
losses were likely at Wall Street's open, but the U.S. non-farm
payrolls numbers were likely to set the opening tone.
Shares in U.S. entertainment giant Walt Disney
(nyse: DIS - news - people) fell
after-hours in New York after reporting a drop in quarterly
income and warned of weak earnings in its current quarter due to
slack attendance at its theme parks.
Stocks likely to move include:
SOCIETE GENERALE <SOGN.PA>
The French bank said net profit tumbled 41 percent in the
second quarter, hit by 265 million euros in provisions linked to
a decline in the value of its portfolio of industrial holdings.
France's second largest bank by market capitalisation posted
robust underlying profits and revenues, with gross operating
income surging 30 percent to 1.133 billion euros and net banking
income climbing 14 percent to 3.822 billion.
For related news click on [SOGN.PA]
CREDIT LYONNAIS <CRLP.PA>
The French bank said second quarter net profit fell 12.9
percent to a better-than-expected 241 million euros, as a
resilient performance in retail banking cushioned the blow from
slumping equity markets. France's fourth largest bank by market
capitalisation said net banking income and gross operating
profit remained broadly stable at 1.707 billion and 520 million
euros, respectively, in the period.
For related news click on [CRLP.PA]
ERICSSON <ERICb.ST>
Standard & Poor's on Thursday cut Swedish telecommunications
equipment giant Ericsson to junk status, following a similar cut
by Moody's Investors Service on July 26. It warned that more
downgrades are possible, pending completion of what it called
Ericsson's "critical" $3.13 billion rights offering.
For related news click on [ERICb.ST]
ELISA <ELIAV.HE>
Finland's second-largest telecom operator reported a
surprise second quarter loss of 48 million euros before extras.
The loss was due partly to writedowns at its German operations
and warned full-year earnings would fall.
For related news click on [ELIAV.HE]
CARLTON <CCM.L>, GRANADA <GAA.L>
Bertelsmann [BERT.UL], the privately owned German media
group, has abandoned the idea of expanding its British
television interests by acquiring stakes in either Carlton or
Granada, the largest ITV broadcasters, the Financial Times
reported on Friday. Thomas Middelhoff, who quit as Bertelsmann
chief executive this week, drew up takeover plans for Carlton
last year and also looked at Granada, which he hoped to fold
into the German group's RTL broadcasting division.
BRITISH AIRWAYS
The UK carrier is due to publish its latest results.
For related news click on [BAY.L]
BUHRMANN <BUHR.AS>
The Dutch office equipment maker is due to publish earnings
at 0600 GMT, with a news conference at 0800 GMT.
For related news click on [BUHR.AS]
LLOYDS TSB <LLOY.L>
The UK bank is due to publish quarterly results.
For related news click on [LLOY.L]
DATA
July U.S. non-farm payrolls are due at 1230 GMT, with a rise
of 69,000 expected. The unemployment rate is expected to remain
flat at 5.9 percent. U.S. personal income and consumption for
June are also due at the same time, followed by U.S. factory
orders at 1400 GMT.
Copyright 2002, Reuters News Service
|
|
|
|
|
