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    October 16, 2007

    European utilities gain again

    Filed under: Other, Volkswagen, Renault, ThyssenKrupp, Eon, Suez, RWE, EDF, Gaz de France, Total, Ericsson, Mittal Steel, Alcatel-Lucent

    Most equities markets in Europe were lower Tuesday, but Madrid’s IBEX was up as it added 0.61 percent to 15,279.70.

    The FTSE Eurofirst 300 was 0.77 percent lower to 1,574.68.

    The Dax dropped 0.09 percent to 7,962.64 in Frankfurt while the Paris CAC-40 fell 0.57 percent to 5,774.36.

    Utilities were higher again.

    Gaz de France (Euronext: GAZ) added 0.26 percent to €38.25, while Suez (Euronext: SZE; NYSE: SZE) gained 0.28 percent to €43.05 and EDF (Euronext: EEN) was up 0.89 percent to €78.44.

    Meanwhile in Frankfurt, Eon (FWB: EOA; NYSE: EON; LSE: EON) was 2.39 percent higher to €131.91 and RWE (FWB: RWE) jumped 2.48 percent to €92.12 for the best performance on the Dax.

    In the oil sector, Total (Euronext: FP; NYSE: TOT) added 1.36 percent to €57.20 as crude oil prices continue to rise.

    The automobile manufacturing sector was mixed on the day.

    While Renault (Euronext: RNO) gained 0.16 percent to €108.31, Volkswagen (FWB: VOW; OTC: VLKAY) turned in the worst performance of the day on the Dax as it dropped 3.13 percent to €173.78.

    The steel sector saw declines as Mittal Steel (Euronext: MT; NYSE: MT) fell 2.23 percent to €53.92 and ThyssenKrupp (FWB: TKA; LSE: THK) was down 2.89 percent to €43.22.

    The biggest loser on the CAC-40 came from the telecommunications sector, where Alcatel-Lucent (Euronext: ALU; NYSE: ALU; TYO: 6687) fell 4.49 percent to €6.59 after a profits warning from rival Ericsson (OMX: ERIC B; NAS: ERIC), which dropped 24 percent to kr20.1 on the day.





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