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  • European carmakers higher on Nissan gains

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  • IBEX gains again amid European equities declines

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  • IBEX gains almost 1 percent on session

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    August 23, 2007

    Peugeot lower on recall

    Filed under: Other, Deutsche Bank, Infineon, Volkswagen, Peugeot, Agricole, Deutsche Borse, STMicroelectronics, Lafarge, Vinci, MLP

    Most equities markets were higher in Europe on Thursday, but in Madrid the IBEX dropped 0.46 percent to 14,292.5.

    The FTSE Eurofirst 300 added 0.38 percent to 1,511.08, while the CAC-40 was up a bare 0.09 percent to 5,523.33 and the Dax gained 0.15 percent to 7,511.96 in Frankfurt.

    Some carmakers were lower on the day.

    Peugeot (Euronext: UG; OTC: PEUGY) was down 0.86 percent to €60.18 after it issued a recall for 240,000 cars, while Volkswagen (FWB: VOW; OTC: VLKAY) fell 1.2 percent to €149.62.

    Chipmakers saw declines as STMicroelectronics (Euronext: STM; NYSE: STM) dropped 0.64 percent to €12.36 and Infineon (FWB: IFX; NYSE: IFX) was 1.16 percent lower to €11.05.

    Among banks, Deutsche Bank (FWB: DBK; NYSE: DB) was the biggest loser on the Dax as it fell 2.12 percent to €91.17.

    In Paris, Credit Agricole (Euronext: ACA) dropped 0.65 percent to €27.52.

    However, elsewhere within financial services, financial planner MLP (FWB: MLPG) had the best day on the Dax as it added 4.3 percent to €12.43.

    Construction-related shares were higher, with construction materials group Lafarge (Euronext: LG; NYSE: LR) leading the CAC-40 as it added 2.2 percent to €113.48.

    Builder Vinci was 1.24 percent higher to €51.63.

    Other gainers on the day included Deutsche Boerse (FWB: DB1), which was up 2.74 percent to €81.53 on consolidation within the sector.





    August 21, 2007

    Banks, utilities oil sector lower

    Filed under: Other, Deutsche Bank, Volkswagen, Renault, Agricole, Repsol, Air France-KLM, Eon, Carrefour, EDF, Total, Banco Santander Central Hispano, Bayer, Acciona, Dexia, Alstom, Man, PPR, Banco Bilbao

    European markets were mixed Tuesday.

    The FTSE Eurofirst 300 was 0.15 percent lower to 1,479.61.

    While the Dax and the CAC-40 were higher, by 0.23 percent to 7,424.75 and by 0.36 percent to 5,418.78 respectively, Madrid’s IBEX fell 0.21 percent to 14,239.8.

    Credit Agricole (Euronext: AGA) was 0.26 percent lower to €27.82, while Spain’s Banco Santander (IBEX-35: SAN; NYSE: STD; LSE: BNC) dropped 0.5 percent to €13.39, Deutsche Bank (FWB: DBK; NYSE: DB) fell 0.81 percent to €92.38, Banco Bilbao (IBEX-35: BBVA; NYSE: BBV) was down 1.1 percent to €16.80 and Dexia (Euronext: DEXB; Euronext: DX) dropped 1.76 percent to €19.59 for the worst performance of the day on the CAC-40.

    Utilities were also lower.

    EDF (Euronext: EEN) was down 0.66 percent to €70.40, while Eon (FWB: EOA; NYSE: EON; LSE: EON) fell 1.14 percent to €117.47. Power generator Alstom (Euronext: ALO) was 0.15 percent lower to €122.19.

    The oil sector was down as oil prices fell as Hurricane Dean seemed to become less of a threat to Gulf of Mexico oil facilities.

    Total (Euronext: FP; NYSE: TOT) dropped 0.4 percent to €52.47, while Repsol (IBEX-35: REP) was 0.8 percent lower to €26.03.

    Car and truck makers were mixed.

    While Volkswagen (FWB: VOW; OTC: VLKAY) added 2.09 percent to €150.74, Renault (Euronext: RNO) fell 0.64 percent to €94.29 and Man (FWB: EDF1) was down 0.89 percent to €94.17.

    The best performance on the day on the Dax came from drug maker Bayer (FWB: BAY; NYSE: BAY; TYO: 4863), which added 3.82 percent to €56.72 on continuing rumors that Novartis (NYSE: NVS) is about to make an offer.

    Air France had the best day on the CAC-40 with a gain of 3.66 percent to €28.30.

    The retail sector saw gains in Paris.

    Luxury goods retailer PPR (Euronext: PP), whose subsidiaries include Gucci, was 1.12 percent higher to €115.73, while Carrefour (Euronext: CA) added 1.65 percent to €48.79.





    August 17, 2007

    European markets gain on Fed move

    Filed under: Other, Deutsche Bank, Axa, Allianz, BNP Paribas, Societe Generale, Agricole, Suez, RWE, EADS, Deutsche Postbank

    European markets were higher on Friday after the US Federal Reserve cut the discount rate at which the Fed lends money to banks from 6.25 percent to 5.75 percent.

    While the Fed’s move didn’t affect the benchmark interest rate, which remained at 5.25 percent, the announcement that came with the discount rate cut said that risks to growth have increased.

    The FTSE Eurofirst 300 was up 2.44 percent to 1,475.99, while the Dax gained 1.49 percent to 7,378.29 in Frankfurt, the Paris CAC-40 was up 1.86 percent to 5,363.63 and Madrid’s IBEX was 2.21 percent higher to 14,288.7.

    Banks saw major gains.

    Deutsche Bank (FWB: DBK; NYSE: DB) added 2.49 percent to €94.93, while Credit Agricole (Euronext: ACA) gained 3.73 percent to €27.28 and Societe Generale (Euronext: GLE) was up 3.76 percent to €118.16.

    Deutsche Postbank (FWB: DBP) was 3.9 percent higher to €54.

    Commerzbank (FWB: CBK) was the best performer on the Dax with a gain of 4.05 percent to €30.16, while BNP Paribas (Euronext: BNP; TYO: 8665) added 4.73 percent to €78.20.

    Insurers were higher as well.

    Allianz (FWB: ALV; NYSE: AZ) was up 3.53 percent to €158.51, while Axa (Euronext: CS; NYSE: AXA) gained 4.46 percent to €29.02.

    Other gainers were in the utilities sector, where Suez (Euronext: SZE; NSYE: SZE) was up 2.49 percent to €37.07 and RWE (FWB: RWE) was 1.78 percent higher to €82.13.

    The biggest decliner on the CAC-40 was aerospace group EADS (Euronext: EAD; FWB: EAD) dropped 2.56 percent to €19.80 on reports that a German engineering group could be interested in buying some plants that EADS is offering for sale as part of its effort to restructure.





    August 14, 2007

    UBS warning sends European banks lower

    Filed under: Other, UBS, Deutsche Bank, Infineon, BNP Paribas, Societe Generale, Agricole, Commerzbank, ThyssenKrupp, Accor, Banco Santander Central Hispano, STMicroelectronics, Fresenius Medical Care

    European markets saw losses on Tuesday, led by declines in banks that are still beset by problems in the credit market.

    The FTSE Eurofirst 300 was 1.28 percent lower to 1,493.85.

    In Frankfurt the Dax dropped 0.66 percent to 7,425.07, while the WIBEX was down 1.21 percent to 14,553.1 in Madrid and the Paris CAC-40 fell 1.63 percent to 5,478.66.

    The banking sector was led lower as UBS (SWX: UBSN; NYSE: UBS;j TYO: 8657) warned that earnings by investment banks would be affected by recent market volatility in the second half.

    While the Swiss bank reported better than anticipated results in the second quarter, it said that if current conditions persist its second half could be weak.

    After its warning, UBS dropped 3.9 percent to SFr63.50.

    Banks were the three biggest losers of the session on the CAC-40.

    Credit Agricole (Euronext: ACA) fell 2.77 percent to €27.03, while BNP Paribas (Euronext: BNP; TYO: 8665) was 3.48 percent lower to €78.18 and Societe Generale (Euronext: GLE) dropped 4.59 percent to €119.00.

    Spanish bank Banco Santander (IBEX-35: SAN; LSE: BNC; NYSE: STD) was 1.7 percent lower to €13.52.

    In Frankfurt, meanwhile, Commerzbank (FWB: CBK) was down 1.47 percent to €29.37, while Deutsche Bank (FWB: DBK; NSYE: DB) fell 2.9 percent to €94.33.

    The biggest loser on the Dax, however, was Fresenius Medical Care (FWB: FREG), which was down 2.99 percent to €35.12.

    Steelmaker ThyssenKrupp (FWB: TK; LSE: THK) was the best performer on the Dax as it added 2.22 percent to €40.34 on an upgrade from “neutral” to “outperform” from Credit Suisse (SWX: CSGN; NYSE: CS), which also raised the steel group’s target share price from €42 to €47.

    There were only four gainers on the day on the CAC-40, with hotels operator Accor (Euronext: AC) leading the way with a gain of 0.69 percent to €59.44.

    The semiconductors sector was higher, with STMicroelectronics (Euronext: STM; NYSE: STM) 0.16 percent higher to €12.60 and Infineon (FWB: IFX; NYSE: IFX) up 0.45 percent to €11.17.





    August 9, 2007

    ECB lending, BNP Paribas move upset markets

    Filed under: Other, Deutsche Bank, Volkswagen, BNP Paribas, Societe Generale, Agricole, Commerzbank, Air France-KLM, Deutsche Telekom, Lufthansa, STMicroelectronics

    European markets were lower on intensifying worries concerning the subprime sector.

    The FTSE Eurofirst 300 fell 1.82 percent to 1,526.04.

    In Madrid the IBEX dropped 1.11 percent to 14,838.3, while the Dax was 2 percent lower to 7,453.59 in Frankfurt and the Paris CAC-40 dropped 5,624.78.

    Banks declined after BNP Paribas (Euronext: BNP; TYO: 8665) said it was suspending withdrawals from 3 funds due to issues related to the subprime sector problems in the United States.

    BNP dropped 3.4 percent to €82.57 on the announcement.

    Among other banks Deutsche Bank (FWB: DBK; NYSE: DB) was 3.94 percent lower to €98.43, while Credit Agricole (Euronext: ACA) fell 4.11 percent to €27.76, Societe Generale (Euronext: GLE) was 4.22 percent lower to €128.63 and Commerzbank (FWB: CBK) dropped 4.31 percent to €29.96.

    Commerzbank was lower even though it reported that profits were double last year’s during the same period and said that the current problems in the subprime sector would not keep it from surpassing its target for profit in the full year.

    The situation wasn’t helped by news that the European Central Bank had loaned €94.8 billion on a sudden demand for cash from banks, sending overnight lending rates to their highest level in 6 years, a state of affairs that some analysts labeled a sign of panic.

    Elsewhere, airlines were also lower on the session.

    Lufthansa (FWB: LHA) was 4.25 percent lower to €19.86, while Air France (Euronext: AF; NYSE: AKH) had the worst performance of the day on the CAC-40 with a drop of 6.27 percent to €30.20.

    There were some gains on the day.

    STMicroelectronics (Euronext: STM; NYSE: STM) had the best day on the CAC-40 as it added 0.92 percent to €12.11, while Volkswagen (FWB: VOW; OTC: VLKAY) was the best performer on the Dax with a gain of 1.27 percent to €141.33.

    In the telecommunications sector, Deutsche Telekom (FWB: DTE; LSE: DEU; NYSE: DT; TYO: 9496) was up 0.84 percent to €13.23 even though it reported that profits were lower in the second quarter.





    August 7, 2007

    Banks, insurers gain in Europe

    Filed under: Other, Deutsche Bank, Infineon, Axa, BMW, Renault, Allianz, BNP Paribas, Societe Generale, Agricole, Commerzbank, Michelin, Schering, Bayer, STMicroelectronics, Man

    European markets were higher Tuesday.

    The FTSE Eurofirst 300 gained 1.33 percent to 1,523.87.

    In Frankfurt, the Dax was up 0.93 percent to 7,513.66, while the IBEX added 1.53 percent to 14,652.9 and the CAC-40 was 1.58 percent higher to 5,620.

    Banks and insurers were both higher.

    Insurer Axa (Euronext: CS; NYSE: AXA) was the best performer on the CAC-40 as it added 3.94 percent to €29.03, while in Frankfurt Allianz (FWB: ALV; NYSE: AZ) was 2.2 percent higher to €158.19.

    In the banking sector, Commerzbank (FWB: CBK) led the way on the Dax with a gain of 5.32 percent to €31.11, followed by Deutsche Bank (FWB: DBK; NYSE: DB), which added 3.95 percent to €101.35.

    Among French banks, Societe General (Euronext: GLE) was 3.17 percent higher to €132.32, while BNP Paribas (Euronext: BNP; TYO: 8665) gained 3.78 percent to €82.97 and Credit Agricole (Euronext: ACA) added 3.88 percent to €28.13.

    The automobile and truck manufacturing sectors were mixed.

    BMW (FWB: BMW) was 1.97 percent higher to €36.15, but Renault (Euronext: RNO) dropped 1.06 percent to €99.89 and Man (FWB: EDF1) fell 2.12 percent to €103.02 for the worst performance of the session on the Dax.

    Tire manufacturer Michelin (Euronext: ML) had the worst day on the CAC-40 as it dropped 2.07 percent to €86.45 after it said it plans to spend $350 million to improve US production.

    The semiconductors sector was lower as STMicroelectroncis (Euronext: STM; NYSE: STM) was 0.41 percent lower to €12.29 and Infineon (FWB: IFX; NYSE: IFX) fell 1.77 percent to €11.11.

    Drug makers were also lower.

    Schering (FWB: SCH) was 0.58 percent lower to €104.44, while Bayer (FWB: BAY; NYSE: BAY; TYO: 4863) dropped 1.93 percent to €51.22.





    July 31, 2007

    Carmakers, airlines gain in Europe

    Filed under: Other, Deutsche Bank, DaimlerChrysler, Peugeot, Renault, BNP Paribas, Societe Generale, Agricole, Air France-KLM, Lufthansa, Siemens, Unibail, Man, Hypovereinsbank, Alcatel-Lucent

    European markets were significantly higher on Tuesday as they attempt to recover from last week’s declines.

    The FTSE Eurofirst 300 added 2.01 percent to 1,548.24.

    The Dax was 1.71 percent higher to 7,584.14 in Frankfurt, while the Paris CAC-40 gained 1.85 percent to 5,751.08 and Madrid’s IBEX jumped 2.03 percent to 14,802.4.

    Banks were mostly higher on the session.

    BNP Paribas (Euronext: BNP; TYO: 8665) was 3.1 percent higher to €81.73, while Societe Generale (Euronext: GLE) gained 3.17 percent to €127.44 and Credit Agricole (Euronext: ACA) was up 3.24 percent to €28.35.

    In Frankfurt, meanwhile, Deutsche Bank (FWB: DBK; NYSE: DB) gained 4.02 percent to €100.62 but HypoVereinsbank (FWB: HVM) was down 0.23 percent to €42.84.

    Airlines were higher, with Air France (Euronext: AF; NYSE: AKH) adding 3.07 percent to €33.29 and Lufthansa (FWB: LHA) gaining 3.36 percent to €20.65.

    Car and truck makers also saw gains.

    DaimlerChrysler (FWB: DCX; NYSE: DCX; TYO: 7663) was 3.45 percent higher to €66.69, while Peugeot (Euronext: UG; OTC; PEUGY) added 3.21 percent to €62.34 and Renault (Euronext: RNO) was up 4.65 higher to €107.06 on a broker upgrade from ABN Amro (Euronext: AAB; NYSE: ABN).

    Truck maker Man (FWB: EDF1) was the day’s best performer on the Dax with a gain of 4.28 percent to €107.09.

    Property investment company Unibail (Euronext: UL) had the best day on the CAC-40 as it added 5.88 percent to €175.30.

    There were few declines on the day, but in the telecommunications sector Alcatel-Lucent fell 9.28 percent to €8.70 on a disappointing earnings report based on costs that were merger-related.

    The worst performance on the Dax came from engineering group Siemens (FWB: SIE; NYSE: SI), which was 1.63 percent lower to €93.71 after rumors circulated that it would issue more shares.





    July 17, 2007

    Banks mixed on session

    Filed under: Other, BMW, Renault, Societe Generale, Agricole, Commerzbank, Schering, Suez, BASF, EDF, Total, Lagardere, Man, Arcelor Mittal, Vallourec, Groupe Danone

    European markets were mostly lower Tuesday, with the notable exception of Madrid’s IBEX, which added 0.29 percent to 15,153.8.

    In Paris, the CAC-40 dropped 0.43 percent to 6,099.21, while the Dax was 0.83 percent lower in Frankfurt to close at 8,038.21.

    The FTSE Eurofirst 300 was down 0.49 percent to 1,622.34.

    Vallourec (Euronext: VK) was the best performer on the CAC-40, adding 0.92 percent to €220.75 on rumors that Arcelor Mittal (Euronext: MT; NSYE: MT) might be interested in making a bid.

    Other gainers on the day included foods group Groupe Danone (Euronext: BN; NYSE: DA), which was 0.56 percent higher to €57.08.

    In the pharmaceuticals sector Schering (FWB: SCH) gained 0.34 percent to €104.60.

    Chemicals group BASF (FWB: BAS; LSE: BFA; NYSE: BF) was up 0.23 percent to €99.46.

    Utilities were mixed, with EDF (Euronext: EEN) 0.27 percent higher to €78.95, while Suez (Euronext: SZE; NYSE: SZE) dropped 1.11 percent to €41.16.

    Banks were also mixed on the session.

    In Paris Credit Agricole (Euronext: ACA) added 0.2 percent to €30.11 and Societe Generale (Euronext: GLE) was 0.75 percent higher to €139.79, but in Frankfurt Commerzbank (FWB: CBK) fell 1.41 percent to €34.94.

    Carmakers saw losses on the day.

    Renault (Euronext: RNO) dropped 1.21 percent to €115.74 for the worst performance of the session in Paris, while BMW (FWB: BMW) fell 1.45 to €39.90 in Frankfurt.

    BMW declined even though Morgan Stanley (NYSE: MS) raised the carmaker’s target share price.

    In addition, truck maker Man (FWB: EDF1) was 1.49 percent lower to €110.10.

    Other losers on the session included oil company Total (Euronext: FP; NYSE: TOT), which was down 1.09 percent to €61.62 on a broker downgrade from “buy” to “hold”.

    Media group Lagardere (Euronext: MMB) fell 1.2 percent to €62.60.





    July 16, 2007

    Banks lead European equities higher

    Filed under: Other, BMW, BNP Paribas, Societe Generale, Agricole, Commerzbank, ThyssenKrupp, EDF, Gaz de France, Total, Bayer, Mittal Steel

    Equities markets were higher in Europe on Monday, with the FTSE Eurofirst 300 up 0.19 percent to 1,630.35.

    In Paris, the CAC-40 was 0.12 percent higher to 6,125.6, while the Dax gained 0.16 percent to 8,105.69 in Frankfurt and the IBEX was up 0.58 percent to 15,110.4 in Madrid.

    Banks were higher in Europe, helped by continuing events surrounding the sale of ABN Amro (Euronext AAB; NYSE: ABN) as a consortium led by Royal Bank of Scotland (LSE: RBS; NYSE: RBS PRM) raised the cash component of its bid to 93 percent of the total after the Dutch supreme court gave ABN Amro permission to sell its US operation, LaSalle.

    In Frankfurt, Commerzbank (FWB: CBK) added 0.97 percent to €35,45, while in Paris Credit Agricole (Euronext: ACA) was 1.11 percent higher to €30.05, BNP Paribas (Euronext: BNP; TYO: 8665) gained 1.49 percent to €88.67, and Societe Generale (Euronext: GLE) was up 2.1 percent to €138.75.

    BMW (FWB: BMW) was the biggest gainer on the Dax, adding 1.39 percent to €40.64, while in Paris utility EDF (Euronext: EEN) led the CAC-40 with a gain of 2.58 percent to €78.74.

    In Frankfurt, pharmaceuticals group Bayer (FWB: BAY; NSYE: BAY; TYO: 4863) was 1.35 percent higher to €57.17 after JP Morgan (NYSE: JPM; TYO: 8634) said that new data on the company’s blood-clot drug Rivaroxaban would boost shares and raised its target share price from €63 to €70.

    The European steel sector saw declines, with ThyssenKrupp (FWB: TKA; LSE: THK) down 1.12 percent to €44.95 and Mittal Steel (Euronext: MT; NYSE: MT) falling 0.56 percent to €48.33.

    The biggest loser of the day in Paris was Gaz de France (Euronext: GAZ), which dropped 1.43 percent to €36.47.

    The oil sector was lower as well, with Total (Euronext: FP; NSYE: TOT) down 1.19 percent to €62.30.





    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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