Europe Stock-Index Futures Rise on German, Chinese Economic Data
Sept. 1 (Bloomberg) — European stock-index futures advanced, after equities posted a monthly gain, as Germany’s trade expanded more than estimated and as a drop in Chinese manufacturing spurred speculation of further stimulus. U.S. index futures were little changed, while Asian stocks rose.
Iliad SA may move after people familiar with the matter said it is talking to private-equity firms to make an improved offer for T-Mobile US Inc. Helvetia Holding AG may be active after posting first-half profit that beat estimates.
Futures on the Euro Stoxx 50 Index expiring this month gained 0.5 percent to 3,180 at 7:12 a.m. in London. Contracts on the U.K.’s FTSE 100 Index climbed 0.2 percent, while the MSCI Asia Pacific Index added 0.2 percent. U.S. exchanges are closed today for Labor Day holiday even as futures on Standard & Poor’s 500 Index slid less than 0.1 percent.
The Stoxx Europe 600 Index climbed 1.8 percent in August, after two months of declines, as European Central Bank President Mario Draghi signaled policy makers are ready to boost stimulus to combat persistent low inflation. The ECB meets on Sept. 4. French Prime Minister Manuel Valls yesterday urged the ECB to take more action to weaken the euro.
A report from Germany showed that exports from Europe’s largest economy rose 0.9 percent in the second quarter from the first three months of the year, exceeding economists’ projection for a 0.2 percent increase. Imports jumped 1.6 percent, compared with an estimate of 0.5 percent growth.
In China, the government’s purchasing managers’ index for manufacturing fell to 51.1 in August, missing the median economist estimate of 51.2. The final reading of a similar gauge from HSBC Holdings Plc and Markit slipped to 50.2. Readings above 50 indicate expansion.
Ukraine Crisis
European Union governments agreed to impose new sanctions against Russia if the conflict in Ukraine worsens. Pro-Russian separatists attacked two Ukrainian coast-guard vessels for the first time, Ukraine’s military said. The U.S. and EU have already imposed measures to curb Russia’s access to bank financing and advanced technology. They may now target its energy and finance industries.
Iliad may be active after people familiar with the matter said the French mobile carrier has been talking to U.S. buyout firms as well as companies and sovereign-wealth funds to improve its bid for T-Mobile. Deutsche Telekom AG is said to be willing to negotiate a sale of its T-Mobile unit if the offer values the latter at $35 a share or more.
Iliad on Aug. 29 reported first-half net income of 139.9 million euros ($184 million), missing the average analyst estimate of 155 million euros.
Helvetia may be active after the St. Gallen, Switzerland- based insurer reported first-half net income of 195.8 million Swiss francs ($213 million), exceeding the 188.5 million-franc average of analysts surveyed by Bloomberg.
To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net To contact the editors responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net Srinivasan Sivabalan
