Reuters: Market News: Europe Factors-Shares to extend losses on growth concerns

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Europe Factors-Shares to extend losses on growth concerns Mar 29th 2012, 05:33 Thu Mar 29, 2012 1:33am EDT LONDON, March 29 (Reuters) - European shares were expected to open a touch lower on Thursday, taking their cue from losses in the United States and Asia as lingering concerns about global economic growth weighed on sentiment, leading investors to take profit on a strong quarterly run. Financial spreadbetters expected Britain's FTSE 100 to open 14 to 19 points lower, or as much as 0.3 percent, Germany's DAX to open 14 to 21 points lower, or as much as 0.3 percent, and France's CAC-40 to open 4 to 7 points lower, or as much as 0.2 percent. The euro zone blue chip Euro Stoxx 50 index and Britain's FTSE 100 sent a bearish technical signal on Wednesday by closing below their 50-day moving averages. Sentiment had been dented by data showing new orders for U.S. durable goods increased only modestly in February, below analysts' forecasts, while a gauge of future business investment also fell short of expectations, raising the prospect that economic growth in the first quarter could be lacklustre. The Standard & Poor's 500 Index slipped 0.5 percent on Wednesday, while Japan's Nikkei average fell 0.7 percent on Thursday but both gauges were on track to record solid quarterly gains. European investors were looking for signs the region's largest economy was holding up when Germany releases unemployment data at 0755 GMT. Germany's unemployment rate was expected to have remained steady for a third consecutive month at 6.8 percent in March. Confidence in the euro zone's economy was estimated to have risen for a third month in a row in March, with the European Commission's economic sentiment indicator, due at 0900 GMT, seen edging up to 94.6 from 94.4 in February. The Commission's monthly report on business morale was also expected to show an improvement at -0.16 from -0.18 in February. Italy was set to sell up to 8.25 billion euros worth of bonds on Thursday, with banks expected to support demand although investors were on the lookout for signs the boost to demand provided by the European Central Bank was on the wane a month after its second, and likely last, offering of three-year funds. Energy stocks were under scrutiny as oil extended the previous day's losses after data showed U.S. crude oil inventories posted the largest weekly build since July 2010, while France said it was in talks with the U.S. and Britain on a possible release of strategic oil stocks to force down oil prices. -------------------------------------------------------------------------------- MARKET SNAPSHOT AT 0523 GMT LAST PCT CHG NET CHG S&P 500 1,408.2 -0.3 % -4.23 NIKKEI 10,095. -0.86 % -87.3 7 MSCI ASIA <.MIASJ0000PU -1.15 % -6.01 EX-JP > EUR/USD 1.3316 0.01 % 0.0001 USD/JPY 82.63 -0.3 % -0.2500 10-YR US TSY 2.189 -- 0.00 YLD 10-YR BUND 1.841 -- -0.04 YLD SPOT GOLD $1,660. -1.18 % -$19.85 9 US CRUDE $105.26 -1.93 % -2.07 GLOBAL MARKETS-Shares fall on U.S., China growth worries Nikkei retreats further from 1-year high; Sharp rises Wall St eases as energy and materials sectors weigh FOREX-Yen firms up, but year-end support seen waning PRECIOUS-Gold gives up early gains; tracks equities lower UPDATE 1-Brent near $124 as U.S. crude stocks rise Brent at $125 on U.S. stocks rise, possible release TREASURIES-Bonds stabilise in Asia after drop Link this Share this Digg this Email Reprints

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