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    October 26, 2007

    IBEX adds 1.42 percent on session

    Filed under: Other, Volkswagen, Peugeot, Renault, Air France-KLM, France Telecom, Eon, Suez, Deutsche Telekom, Banco Santander Central Hispano, Lufthansa, Acciona, Man

    European markets saw gains Friday.

    The pan-European FTSE Eurofirst 300 was 0.62 percent higher to 1,576.75.

    Frankfurt’s Dax was up 0.21 percent to 7,949.17, while the Paris CAC-40 gained 0.6 percent to 5,794.87 and the IBEX jumped 1.42 percent to 15,603.9.

    In Madrid, Banco Santander (IBEX-35: SAN; LSE: BNC; NYSE: STD) added 1.6 percent to €14.38 as Citigroup upgraded it from “hold” to “buy”, while builder Acciona (IBEX-35: ANA) was up 2.7 percent to €215.

    Carmakers were up in Europe on quarterly results.

    Renault (Euronext: RNO) was 3.32 percent higher to €110.91, gaining on news that Nissan Motor’s (TYO: 7201) quarterly report.

    Renault owns 44 percent of Nissan.

    Peugeot (Euronext UG; OTC: PEUGY) added 6.31 percent to €61.46 for the best performance on the CAC-40 after it said sales were up 12 percent in the third quarter.

    Meanwhile, Volkswagen (FWB: VOW; OTC: VLKAY) had the best day on the Dax as it gained 4.18 percent to €181.91 ahead it its third-quarter results.

    Truck maker Man (FWB: EDF1) was also higher, up 1.08 percent to €119.88.

    Telecommunications utilities were mixed after Thursday’s gains.

    Deutsche Telekom (FWB: DT; LSE: DEU; TYO: 9496) was 2.51 percent higher to €14.27, but France Telekom (Euronext: FTE; NYSE: FTE) dropped 0.54 percent to €25.66.

    Gas and electricity utilities were also mixed as Suez (Euronext: SZE; NYSE: SZE) gained 1.19 percent to €44.93, but Eon (FWB: EOA; LSE: EON; NYSE: EON) fell 1.06 percent to €133.76.

    In the airlines sector, Air France (Euronext: AF; NYSE: AHK) was up 0.7 percent to €25.83 while Lufthansa (FWB: LHA) was down 0.64 percent to €20.07.





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