LONDON (SHARECAST) - -Rehn (EU): How to lower Greek debt still to be decided
-Rehn (EU): On track to decide Greek disbursement by November 12th
-PASOK MP says will not vote for reforms
-Lipsky (Ex-IMF): Botched Greece rescue frustrating to behold -Bbg
FTSE Mibtel 30: 0.46%
Ibex 35: -0.08%
Stoxx 600: 0.36%
The main European equity benchmarks are now registering slight gains for the most part. That following some better than expected or in-line macroeconomic data released overnight in Asia and ahead of an avalanche of economic data due to be released this afternoon Stateside.
M&A all the rage today
While a raft of solid quarterly corporate results are the “talk of the town” in the City over on the other side of the channel the focus is now on the mergers and acquisitions (M&A) news-flow.
In this regard, Etablissements Maurel & Prom is rising 12% higher, after three people familiar with the matter said China Petrochemical is considering a takeover offer for the French oil explorer, Bloomberg News reports.
ProSiebenSat.1 has attracted three offers worth more than €1.3bn (£1.05bn) for its Nordic TV channels, two people familiar with the matter said on Wednesday, which may help to reduce the group's debt.
Airport operator Fraport hopes to sell its 10% stake in Delhi´s airport, according to remarks made by one of the company´s Vice-Presidents.
From a sector stand-point the best performance in the DJ Stoxx 600 is now to be seen in the following industrial groups: Personal and household goods (1.25%), Telecommunications (0.98%) and Automobiles (0.84%).
Nordic PMI´s down
Norway´s purchasing managers´ index (PMI) for the month of October has dropped to 48.7 from 49.1 (Consensus: 49.5).
Sweden´s PMI fell to 43.1 in October after 44.7.
Ireland´s manufacturing PMI rose to 52.1 from 51.8.
Swiss retail sales rose by 5.4% year-on-year in September, after a 6% gain in the previous month.
Switzerland´s PMI for the month of October meanwhile rose to 46.1, following a reading of 43.6 for the previous month (Consensus: 44.7).
Other asset classes trading down
Front month Brent crude futures are now falling by 0.231 dollars to the 108.44 dollar level on the ICE.
The euro/dollar is now off by 0.08% to the 1.2949 mark.