Shares, stocks and corporate news: What you need to know before the open

Shares 365
European markets are expecting to open down across the board this morning. The FTSE 100 is expected to open two to six points lower, Germany's DAX three points and France's CAC 40 one point, according to analysts at Thompson Reuters.
 
Cautious investors will be monitoring the outcome of talks between the US and Iran over the latter's controversial nuclear enrichment programme. An agreement ahead of today's deadline has looked increasingly unlikely.
 
In Asia markets are on the rise after the People's Bank of China announced its first benchmark rate cut in two years on Friday. The benchmark lending rate was cut by 0.4 percentage points to 5.6 per cent, while its deposit rate was cut by 0.25 percentage points to 2.75 per cent. 
 
Analysts expect the uneven cut between lending and deposit rates to constrict banks' margins, suggesting that once the initial rally cools off, bank stocks will underperform in the coming months.

Corporate news

Cranswick PLC, the leading UK food producer, recorded revenues of £481.5m for the six months ended 30 September 2014. That's a drop from £483.5m at the same time last year, but the company recorded positive earnings momentum as adjusted earnings per share rose by 7.3 per cent.
 
Oilfield services provider Petrofac Limited are expecting net profit for 2015 to fall by $45m following a "difficult period" which has seen oil prices plummet.
 
Toronto private equity firm Onex will purchase Swiss packaging company SIG Combibloc for up to €3.75bn.
 
Data in focus
  • 09:00am, Germany, IFO Current Assessment
  • 09:00am, Germany, IFO Expectations
  • 14.45pm, US, November, Markit Services PMI
  • 14.45pm, US, November, Markit PMI Composite

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