Glance-European Factors--Shares seen resuming rally

PARIS, Nov 11 (Reuters) - European equities were set to rise on Wednesday, reversing the previous session's dip and resuming their one-week rally, after strong Chinese macro data lifted investors' sentiment. Financial spreadbetters expected Britain's FTSE 100 to open 13 to 16 points higher, or as much as 0.3 percent, Germany's DAX to open 13 to 19 points higher, or as much as 0.3 percent, and France's CAC-40 to open 10 to 13 points higher, or as much as 0.3 percent. Data showed on Wednesday Chinese factory output growth leapt to a 19-month high in October, signaling that the world's third-biggest economy has put the worst of the global economic crisis behind it. "Equities are once again poised to move higher at the open, but there's no shortage of caution creeping into the market as we eye a test on fresh highs for the year," IG Markets analyst Ben Potter wrote in a note. "As a result, sentiment is likely to play a large part in determining direction in the near term and traders could find themselves looking to book profits quickly." European shares edged lower on Tuesday, pausing after a four-day winning run as telecoms shares slid after disappointing results from Vodafone while mining stocks tracked weaker metal prices. The FTSEurofirst 300 index of top European shares has risen about 4.3 percent over the past week, but remains down 2 percent from a one-year high reached in mid-October. ----------------------MARKET SNAPSHOT AT 0637 GMT---------------------- LAST PCT CHG NET CHG S&P 500 1,093.01 -0.01 % -0.07 NIKKEI 9,871.68 0.01 % 0.95 MSCI ASIA EX-JP 470.74 0.67 % 3.15 EUR/USD 1.4981 -0.03 % -0.0004 USD/JPY 89.73 -0.09 % -0.0800 10-YR US TSY YLD 3.478 -- 0.00 10-YR BUND YLD 3.299 -- 0.01 SPOT GOLD $1,108.40 0.28 % $3.10 US CRUDE $78.75 -0.38 % -0.30 ----------------------------------------------------------------------- * Wall St rally stalls but Dow ekes out gain * Asia stocks up 4th day; China data supportive * Nikkei flat as yen rise offsets machinery orders * Oil above $79 on bullish China data; awaits EIA data * Yen rises, regains ground after dip on China data * Copper edges lower as China imports disappoint * Gold steady, remains near record high COMPANY NEWS: ING The Dutch bancassurer posted a third-quarter profit in line with preannounced results and offered no new details on its planned split into separate bank and insurance companies. For details, see: CREDIT AGRICOLE France's biggest retail bank plucked a new chief executive from its influential regional divisions as it posted a widely-expected fall in third quarter profit. For details, see: HOLCIM The world's second largest cement maker sees government simulus programmes helping the North American market return to growth in the second half of 2010, but still sees tough conditions in Europe. For details, see: SWISS LIFE Swiss Life said on Wednesday premiums fell 3 percent in the first nine months of 2009, narrowly beating forecasts, as subsidiary AWD returned to operational profitability in the third quarter. For related news, click on SANTANDER Spain's largest bank, Santander, said on Tuesday it made 5.092 billion euros ($7.63 billion) through an initial public offering of its Brazilian unit after a greenshoe option was partially exercised. For more click TELEFONICA Brazilian federal prosecutors on Tuesday said plans by Spain's Telefonica to purchase GVT could limit competition and reduce service quality, and they opened public hearings that could slow the possible tie-up. THALES The French defence electronics company posted lower than expected third-quarter sales and issued a surprise profit warning for the second half as it braces for fresh charges due to struggling aerospace deals. For details, see: SWISS BANKS, INSURERS Switzerland's biggest banks and insurers will have to adhere to new compensation rules requiring them to defer the bulk of managers' bonuses and to strictly align pay to performance, Swiss regulators said on Wednesday. For more, click on SABADELL, UNICREDIT Italian bank UniCredit said on Tuesday it was selling a 3.23 percent stake in Spain's Sabadell, a placement to be carried out via accelerated bookbuilding for institutional investors. TF1 France's leading commercial broadcaster raised its 2009 sales outlook on Tuesday after it said TV ad spending improved in retail and other sectors in the third quarter. For details, see: SPANISH BANKS The boards of two Spanish savings banks, Caja Espana and Caja Duero, agreed on Tuesday to start merger talks, the latest round of a consolidation process in Spain's unlisted banking sector. For more click on (Reporting by Blaise Robinson; Editing by Hans Peters) Keywords: MARKETS EUROPE FACTORS ([e-mail] ; [phone], Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.