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    July 13, 2007

    Financial sectors gain

    Filed under: Other, Deutsche Bank, Axa, DaimlerChrysler, Renault, Allianz, BNP Paribas, Agricole, BASF, EDF, Lufthansa, Lafarge, Vinci, Marschollek, Schneider Electric, Groupe Danone

    Markets in Europe were higher on Friday, with the FTSE Eurofirst 300 adding 0.39 percent to 1,627.68.

    In Paris, the CAC-40 was 0.24 percent higher to 6,117.96, while the Dax gained 0.49 percent to 8,092.77 in Frankfurt and the IBEX was up 0.55 percent to 15,023.5.

    Financial services-related shares did well on the session.

    Among banks BNP Paribas (Euronext: BNP; TYO: 8665) added 0.71 percent to €87.37, while Credit Agricole (Euronext: ACA) gained 0.99 percent to €29.72 and Deutsche Bank (FWB: DBK; NYSE: DB) was 1.47 percent higher to €107.71.

    Insurance-focused groups also gained, with Allianz (FWB: ALV; NYSE: AZ) up 1.22 percent to €173.12 and Axa adding 1.87 percent to €32.64 for the best performance of the session on the CAC-40.

    Financial services group Marschollek (FWB: MLPG), now known as MLP, gained 5.4 percent to €15.89 as the day’s best performer on the Dax.

    Other sectors seeing gains on the day included utilities, as EDF (Euronext: EEN) added 0.79 percent to €76.76.

    In the chemicals sector, BASF (FWB: BAS; LSE: BFA; NYSE: BF) was up 1.87 percent to €98.88 on an increased target share price, from €92 to €105, issued by UBS (NYSE: UBS; SWX: UBSN; TYO: 8657).

    Schneider Electric (Euronext: SCHN) gained 1.51 percent to €104.77 after Citibank (NYSE: C) raised it recommendation from “hold” to “buy” and on compensation granted in a judgment that grew out of a blocked bid for Legrand (Euronext: LR).

    Carmakers saw declines to end the week, with Renault (Euronext: RNO) falling 0.5 percent to €116.66 and DaimlerChrysler (FWB: DCX; NYSE: DCX; TYO: 7663) dropping 0.85 percent to €68.78.

    Groupe Danone (Euronext: BN; NSYE: DA) was 3.36 percent lower to €57.02.

    Construction group Vinci (Euronext: DG) was 0.69 percent lower to €57.30, while building materials company Lafarge (Euronext: LG) fell 0.54 percent to €133.81.

    Airline Lufthansa (FWB: LHA) was down 0.82 percent to €20.58.





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