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.

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.

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.

After reaching a six-year high on Monday, the FTSE Eurofirst 300 finished the week more or less exactly where it began, closing at 1,543.71 at the end of Friday’s session. Banks were mixed, as was the automobile manufacturing sector. Insurance was up.

In the insurance sector, Allianz (NYSE: AZ; LSE: ALV) added 5.4 percent to €164.07 after it reported strong results and offered positive guidance. France’s Axa (Euronext: CS; NYSE: AXA) was also higher, gaining 2.4 percent to €33.51. Elsewhere in the sector, Converium added 14.9 percent to SFr21.60 as investors hoped it could get a better offer out of Scor after it rejected the French reinsurer’s bid of SFr21 per share.

Among banks, ABN Amro (Euronext: AAB; NYSE: ABN) and Banco Santander (LSE: BNC; NYSE: STD) were higher but Italian banks Capitalia and Banca Monte dei Paschi di Siena declined. Santander added 0.3 percent on the week to €14.54, while Amro added 10 percent to €27.94 on sale rumors. Siena was 0.4 percent lower to €5.05, while Capitalia dropped 2.6 percent to €6.86.

In the automobile manufacturing sector, Volkswagen was up 8.1 percent during the week to €94.94 on strong results for the full year. DaimlerChrysler dropped 3.6 percent to €53.80 after VW said it was not interested in its US Chrysler division.

The European equities markets were higher on Wednesday, aided by gains in the banking and oil sectors. The FTSE Eurofirst 300 added 1 percent to 1,528, its highest closing level in six years.

In the oil sector, Statoil gained 1.6 percent to NKr163.50 on comments from UBS that outlined the upside of an announced merger with Norsk Hydro. The broker upgraded its recommendation on Statoil from “neutral” to “buy” and hiked its target share price from NKr166 to NKr185.

Banks saw gains in several nations. In Spain, JP Morgan issued upgrades for both BBVA and Santander. BBVA added 1.4 percent to €19.35 after its recommendation was raised from “neutral” to “overweight”, while Santander was 2.3 percent higher to €143.49 on an identical hike in its rating.

In Italy, Morgan Stanley upgraded both Banca Monte dei Paschi di Siena and Capitalia from “underweight” to “equal weight”. Siena was up 0.7 percent to €4.9525 and Capitalia gained 2.3 percent to €7.02. Meanwhile, the broker added Banco Popolare di Verona e Novara to its model portfolio, sending the bank’s shares up 3.1 percent to €24.10.

Meanwhile, UniCredit’s announcement that it will buy out minority shareholders in German bank HVB Group and Bank Austria Creditanstalt send shares in both banks significantly higher. HVB gained 4.2 percent to €36.00, while Bank Austria was 4.7 percent higher to €131.50. UniCredit, which already owns 95 percent of both banks, was up 1.6 percent to €7.2050.

Among losers on the day was SAP. The software maker dropped 6.5 percent to €35.89 when it said that margins would be lower this year and failed to issue an outlook on license sales.

The FTSE Eurofirst 300 was up significantly on Thursday, adding 1.8 percent to close the session at 1,503.93.

Banks were higher on bids rumors and broker comments. After Dresdner Kleinwort implied that there was a possibility of merger activity in the Spanish banking sector, Santander and BBVA were both higher. Santander added 1.3 percent to €14.30, while BBVA gained 1.7 percent to €18.73. Swedbank as 5.2 percent higher to SKr262.50 when UBS repeated its “buy” recommendation and upped its target share price from SKr265 to SKr300.

Stock exchanges also did well on the session. Euronext added 3.8 percent to €98.50 on approval of its plans to merge with the New York Stock Exchange. Meanwhile, Deutsche Borse gained 6.3 percent to €150.20 on talk that it could also merge with an exchange operator in the US. The Chicago Mercantile Exchange has been mentioned as a possible merger partner.

Roche was 2 percent higher to SFr230.70 on higher profits in the fourth quarter by Genentech, in which the Swiss pharmaceutical company is majority stockholder. Genentech’s fourth quarter profits were up 75 percent on demand for its cancer drugs and higher sales of a new treatment for blindness in older patients.

In the aerospace sector, EADS added 0.8 percent to €25.26 even though UBS reduced its recommendation from “neutral” to “sell” and warned that shareholders earnings could be diluted by a possible equity issue by the company.

Profit-taking sent the European equities markets lower on Tuesday. The FTSE Eurofirst 300 dropped 0.3 percent to 1,462.69 as the telecommunications sector did well but banks saw losses.

The banking sector is still in the midst of mergers and acquisitions activity. In Italy, Banche Popolari Unite fell 2.7 percent to €20.29 and Banca Lombarda dropped 5.9 percent to €16.76 after Lombarda assented to an all-share offer from Unite worth €6.2 billion. The big decline for Lombarda came on ruined hopes of shareholders that there could be a cash bid from a foreign entity. One possible cash bidder mentioned was Santander of Spain, which dropped 0.1 percent on the session to €13.86.

Stock markets were lower, also on bids rumors. Deutsche Borse was 1.8 percent lower to €131 and Euronext dropped 3.8 percent to €89.80 on a report that Deutsche Borse could abandon its bid for Euronext. Deutsche Borse denied the report and said that its offer was still on the table.

In the telecommunications sector, Telefonica was up 1.2 percent to €15.60 after it said that operating revenues were up 43 percent in the first nine months of the year and upped its prediction for profits for the full year. Telekom Austria and Telenor each added 2.2 percent, to €19.83 and NKr105.25. The Austrian telecommunications operator reported that third quarter core profits were up 1 percent on growth in its international units and said that profit growth for the year will be at 30 percent.

The FTSE Eurofirst 300 was up 0.6 percent on Tuesday to 1,423.36, a new five-year high level, on strength in financial and banking sectors.

German non-life insurer Allianz added 2 percent to €143.32 on the expectation that the value of its investment in Industrial and Commercial Bank of China will increase after that bank’s IPO in Hong Kong and Shanghai later in the month. Ras Holding, an Allianz subsidiary, was also higher, gaining 2.2 percent to €22.64.

Banks were mixed but mostly higher on the session. Spanish bank Banesto, which reported net profits up by 17.1 percent in nine months, still dropped 0.4 percent to €16.20 when the increase was not up to projections. However, Santander, which owns a majority of Banesto, added 2.2 percent to €13.18.

Meanwhile, in Italy, Banca Intesa gained 2.7 percent to €5.54 as it came close to an agreement to sell some of its branches to Credit Agricole as part of the terms required to complete its merger with Sanpaolo IMI, which added 2.4 percent on the session to €17.66.

Among Austrian banks, Erste Bank added 3.9 percent to €51.99 on positive comments from Bear Stearns and from Dresdner Kleinwort. Rival Raiffeisen International was 4.4 percent higher to €88.50.

In the transport equipment sector, MAN was down another 0.6 percent to €68.05, while Scania was 2.4 percent lower to SKr432.50. Volvo, meanwhile, was 3 percent higher to SKr445.

Banks were mixed on Monday in Europe as mergers and acquisition talk carried over from last week. Meanwhile, gains in technology stocks helped lead the FTSE Eurofirst 300 up by 0.4 percent to 1,364.89. Oil companies were down as crude oil prices fell again.

European oil companies were lower after crude oil prices fell on a reduced chance that there would be any damage to oil interests in the Gulf of Mexico from the current storm in the region. Norsk Hydro was 0.9 percent lower to NKr167, while Statoil dropped 1.1 percent to NKr174.

In the semiconductors sector, STMicroelectronics added 1.4 percent to €12.70. Infineon gained 2 percent to €9.03.

Banca Intesa and Sanpaolo IMI were down slightly after last week’s gains on the strength of a proposed merger as shareholders began to have doubts about the deal worked out by the boards of the two banks in a Saturday meeting. Sanpaolo was 1.4 percent lower to €15.87, while Intesa dropped 1.6 percent to €4.99.

Spanish bank Santander, which owns 8.4 percent of Sanpaolo, added 0.7 percent to €12.08. Meanwhile, it was said that Credit Agricole, which owns almost 18 percent of Intesa, was trying to set terms for the deal, especially surrounding the issue of branches to be sold after any merger. Agricole added 1 percent to €32.75.

Elsewhere in the banking sector, Deutsche Postbank was 3.1 percent higher to €62.01 after it was said that Deutsche Post was ready to sell its 50.1 percent holding. On speculation that Deutsche Bank might be interesting in buying, Deutsche Bank added 0.4 percent to €89.02. Deutsche Post gained 2.5 percent to €19.57 on the speculation.

Greek banks, however, were down on the day after a terrorist attack at a Turkish coastal resort. A number of Greek banks have holdings in Turkish banks. EFG Eurobank, which owns EFG Istanbul Securities, and Alpha Bank each dropped 1.2 percent to €23.98 and €20.86 respectively. National Bank of Greece, which finalized its purchase of Finansbank of Turkey just last week, declined by 1.8 percent to €30.50.

Banks were in the spotlight in Europe again on Friday, sending the FTSE Eurofirst 300 0.1 percent higher on both the session and the week, to close at 1,359.21.

The major news of the week was a possible merger of Banca Intesa and Sanpaolo IMI in Italy. It was learned Friday that the boards of the two banks will meet on Saturday to discuss the possibilities for a deal. Many major shareholders have already expressed approval of the idea, including Credit Agricole, Intesa’s biggest shareholder. Additionally, analysts predicted a minimum of regulatory complications for such a merger. Santander, owner of 8.4 percent of Sanpaolo had no comment, except to say that a sale of its stake would bring it a €1.2 billion capital gain.

Credit Agricole was 1.4 percent higher on the week to €32.44, Intesa gained 6.4 percent to €5.066, and Sanpaolo added 9.4 percent to €16.101. Santander, meanwhile, dropped 0.7 percent to €12.

If the Intesa/Sanpaolo merger materializes, some analysts estimate that up to 300 branches could be sold, with Capitalia and UniCredit as possible purchasers. This news produced mixed results as Capitalia added 5.3 percent to €6.98, but UniCredit declined by 3.4 percent to €6.093.

All of the mergers and acquisitions speculation coming out of Italy heightened talk of takeovers in the wider European banking sector. In France, Natexis Banque Populaires was 2.6 percent higher to €202.30. Commerzbank, a frequent target of takeover speculation, was up 5.3 percent to €27.12.