Glance-Europe Factors-Shares seen edging higher; focus on earnings

LONDON, Jan 13 (Reuters) - European stocks are seen opening slightly higher on Wednesday, recovering from falls in the previous session, with investors awaiting for more earnings results this week for a clearer market direction.

Financial spreadbetters expected Britain's FTSE 100 to open as much as 8 points higher, Germany's DAX to open up to 13 points higher and France's CAC-40 to rise as much as 12 points.

European shares ended down on Tuesday, as a disappointing start of the earnings season in the United States and China's surprise move to raise bank reserve requirements hurt sentiment.

The FTSEurofirst 300 index of top European shares closed 0.9 percent lower at 1,053.93 points after rising to its highest in more than 15 months in the previous session. The index rose 26 percent in 2009 and has surged 63 percent since hitting a record low in March last year.

Japan's Nikkei average slipped 1.3 percent on Wednesday, hurt by profit-taking and a strong yen. On Tuesday, U.S. stocks slid as investors pummeled financials on concerns about a potential government levy on banks, while Alcoa Inc's disappointing results tempered optimism about the economic recovery.

Investors awaited more results this week, including Intel Corp on Thursday and JPMorgan Chase on Friday. On the macro-economic front, the market would focus on German GDP numbers for 2009, Italian industrial production for November and UK industrial output numbers.

Investors will keep an eye on Energy shares as crude oil fell more than $1 to below $80 a barrel, after an industry group reported an unexpected rise in U.S. distillate stocks, adding to growing fuel supplies despite a severe northern hemisphere winter.

----------------------MARKET SNAPSHOT AT 0649 GMT----------------------

LAST PCT CHG NET CHG
S&P 500 1,136.22 -0.94 % -10.76
NIKKEI 10,735.03 -1.32 % -144.11
MSCI ASIA EX-JP 490.45 -1.80 % -8.97
EUR/USD 1.4496 0.10 % 0.0014
USD/JPY 91.09 0.11 % 0.1000
10-YR US TSY YLD 3.728 -
0.01
10-YR BUND YLD 3.308 --
0.01
SPOT GOLD $1,129.70 0.16 % $1.75
US CRUDE $80.12 -0.83 % -0.67


* Nikkei falls after China move, profit-taking weigh

* Bank levy fears, Alcoa batter Wall Street

* Yen pauses after gains, U.S. earnings eyed

* Oil below $80 on US inventory jump, China tightening

* Gold flat after tumble on China bank steps

* Metals pare losses as investors assess China demand

* Stocks, commodities fall after China bank move

* Treasuries Edge down in Asia after rally



COMPANY NEWS:



SOCIETE GENERALE

The French bank issued a profit warning on Wednesday after the bank, which suffered record trading losses in 2008, took a new hit of 1.4 billion euros from risky assets.



FERRERO, CADBURY

Italy's Ferrero has decided not to bid for Cadbury, further strengthening the case of Kraft Foods in its 10.5 billion pound ($17 billion) takeover bid for the British chocolatier.



BASF

BASF confirms 2009 fourth-quarter EBIT will probably match third-quarter operating profit, according to an investor relations presentation on its website. Related news



BARRY CALLEBAUT

Swiss chocolate maker Barry Callebaut reported Q1 revenue of 1.45 billion Swiss francs and said it expected demand to stagnate in 2010 in volume terms. For related news, click on



HEIDELBERGCEMENT

The cement maker said late on Tuesday it was selling bonds worth 1.4 billion euros as it continues to restructure its debt. The issue comprised a five-year tranche with a 6.5 percent coupon and a 10-year tranche is with a 7.5 percent coupon.



ACTELION

A U.S. advisory panel on Tuesday recommended approval of an Actelion Ltd drug for treating a rare disease that often kills patients in their teens after fats accumulate in their organs. A Food and Drug Administration advisory panel voted 10-3 to recommend approval of Actelion's Zavesca pill for patients with a condition called Niemann-Pick type C disease (NP-C). For related news, click on



CELLECTIS

French genome engineering group Cellectis said on Tuesday it sold to Bayer HealthCare a licence to use its technology to create genetically-modified animals for pharmaceutical research. Financial terms were not disclosed.



RENAULT

The French government wants to prevent Renault, the country's second-biggest carmaker, from producing a new model abroad to safeguard jobs in France as an economic crisis and unemployment fan protectionism.



TELECOM ITALIA

Telecom Italia has launched syndication of a new 1 billion euro three-year revolving credit that refinances existing debt, bankers close to the deal said on Tuesday.



FREENET

Freenet stakeholder Permira said it will place its remaining 10.1 percent share in freenet on the market, estimating a value of 119 million euros.



LONZA

Swiss drug industry supplier Lonza Group said on Tuesday it was closing three chemical sites to cut costs to face a challenging economic environment. For related news, click on



SPYKER CARS

The Dutch luxury car maker says it is still in constructive talks with General Motors over the potential purchase of Swedish car maker Saab, even as GM advances plans to shut Saab down.

(Reporting by Harpreet Bhal) Keywords: MARKETS EUROPE FACTORS ([e-mail]; [phone]; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2010. 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.