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    September 12, 2007

    European markets in slight gains

    Filed under: Other, Infineon, BMW, Peugeot, BNP Paribas, Commerzbank, Air France-KLM, Eon, Gaz de France, Lufthansa, STMicroelectronics, Unibail, Man, Fresenius Medical Care, Groupe Danone, Bouygues

    European markets were higher Wednesday.

    The FTSE Eurofirst 300 added 0.22 percent to 1,510.28.

    Madrid’s IBEX was 0.11 percent higher to 13,980.4, while the Dax gained 0.2 percent to 7,472.99 and the CAC-40 was up 0.53 percent to 5,508.01.

    The best performer on the CAC-40 was media and construction conglomerate Bouygues (Euronext: EN) with a gain of 4.21 percent to €59.45 on possible interest from an Egyptian telecommunications company and possible contracts news.

    Healthcare group Fresenius Medical Care (FWB: FREG) had the best day on the Dax as it added 3.2 percent to €37.28.

    Other gainers included property developer and investor Unibail (Euronext: UL), which was 1.87 percent higher to €174.18.

    Foods manufacturer Groupe Danone (Euronext: BN; NYSE: DA) was up 1.65 percent to €55.37.

    Truck maker Man (FWB: EDF1) advanced 1.68 percent to €102.04, but carmakers did not do as well.

    Peugeot (Euronext UG; OTC: PEUGY) fell 0.76 percent to €56.12, while BMW (FWB: BMW) was down 1.57 percent to €34.82.

    Utilities were mixed on the session.

    Eon (FWB: EOA; LSE: EON; NYSE: EON) was up 1.91 percent to €123.76, but Gaz de France (Euronext: GAZ) dropped 0.56 percent to €33.46.

    Banks were also mixed.

    BNP Paribas (Euronext: BNP; TYO: 8665) added 0.9 percent to €74.18 but Commerzbank (FWB: CBK) was 1.12 percent lower to €28.10.

    The semiconductors sector was down on the session.

    STMicroelectronics (Euronext: STM; NYSE: STM) fell 0.8 percent to €12.43, while Infineon (FWB: IFX; NYSE: IFX) was down 1.83 percent to €11.84.

    Airlines were the biggest losers on both the Dax and the CAC-40.

    Lufthansa (FWB: LHA) dropped 3.45 percent to €19.84 and Air France (Euronext: AF; NYSE: AKH) was 3.35 percent lower to €26.80.





    September 4, 2007

    Unibail adds 4.3 percent in Paris

    Filed under: Other, Deutsche Bank, Volkswagen, Peugeot, Renault, BNP Paribas, Societe Generale, Commerzbank, Suez, Gaz de France, Total, STMicroelectronics, Dexia, Unibail, Altana, Fresenius Medical Care

    European markets were higher on Tuesday.

    The FTSE Eurofirst 300 added 0.62 percent to 1,548.76.

    The IBEX was 0.3 percent higher to 14,590.1 in Madrid, while the Paris CAC-40 gained 0.38 percent to 5,672.72 and Frankfurt’s Dax was up 0.96 percent to 7,721.77.

    Property investment and management group Unibail (Euronext: UL) had the best day on the CAC-40, adding 4.3 percent to €185.40.

    Meanwhile, chemicals group Altana (FWB: ALT; NYSE: AAA) was the best performer on the Dax with a gain of 3.02 percent to €17.43.

    Banks saw gains.

    BNP Paribas (Euronext: BNP; TYO: 8665) was 1.2 percent higher to €78.30, while Commerzbank (FWB: CBK) gained 2.8 percent to €30.94.

    Societe Generale (Euronext: GLE) was up 1.21 percent to €121.97, Deutsche Bank (FWB: DBK; NYSE DB) added 2.92 percent to €94.16, and Dexia (Euronext: DEXB) was 2.86 percent higher to €20.89.

    Other gainers on the day included oil group Total (Euronext: FT; NYSE: TOT), which gained 0.98 percent to €55.37.

    In the semiconductors sector, STMicroelectronics added 1.64 percent to €13.02, while healthcare group Fresenius Medical Care (FWB: FREG) was 1.63 percent higher to €36.07.

    Carmakers were lower on the session.

    Volkswagen (FWB: VOW; OTC: VLKAY) had the worst day on the Dax, where it dropped 0.5 percent to €152.11, while Peugeot (Euronext: UG; OTC: PEUGY) put in the worst performance on the CAC-40 with a decline of 3.63 percent to €59.44.

    Renault also declined, falling 0.88 percent to €99.05.

    Utilities lost ground as weel, with Suez dropping 1.61 percent to €39.71 and Gaz de France ending at €35, a decline of 2.26 percent after the two said that they had agreed to new terms regarding their merger.





    August 28, 2007

    CAC-40 drops more than 2 percent

    Filed under: Other, Deutsche Bank, Axa, BNP Paribas, Societe Generale, Agricole, Air France-KLM, Eon, RWE, Lufthansa, Lagardere, Siemens, Vinci

    European markets declined substantially on Tuesday after over a week of steady gains.

    The FTSE Eurofirst 300 dropped 1.81 percent to 1,488.92. In Frankfurt, the Dax fell 0.74 percent to 7,430.24.

    Madrid’s IBEX was 1.26 percent lower to 14,124.8, while the CAC-40 was down 2.08 percent to 5,474.17.

    Banks saw substantial declines, with BNP Paribas (Euronext: BNP; TYO: 8665) in the biggest drop on the CAC-40, falling 3.36 percent to €75.86.

    Societe Generale (Euronext: GLE) dropped 2.88 percent to €116.54, while Credit Agricole (Euronext: ACA) was 2.81 percent lower to €26.97.

    Deutsche Bank (FWB: DBK; NYSE: DB) was down 1.7 percent to €90.05, its lowest level in nearly a year.

    Other decliners included engineering group Siemens (FWB: SIE; NYSE: SI), which fell 1.91 percent to €88.94 in advance of a meeting between German and US investigators in regard to a corruption probe at the company.

    Insurer Axa (Euronext: CS; NYSE: AXA) dropped 3.05 percent to €28.90, while builder Vinci (Euronext: DG) was 2.99 percent lower to €50.32.

    Airlines were mixed, with Lufthansa (FWB: LHA) up 0.29 percent to €20.64 but Air France down 3.13 percent to €28.52.

    Media group Lagardere (Euronext: MMB) was the only gainer on the CAC-40 as it added 0.8 percent to €57.87.

    Utilities were higher in Frankfurt. RWE (FWB: RWE) was up 0.37 percent to €80.65, while Eon was 1.2 percent higher to €119.87 for the biggest gain on the Dax.





    August 27, 2007

    Banks gain in mixed day in Europe

    Filed under: Other, Deutsche Bank, Infineon, Volkswagen, DaimlerChrysler, Renault, BNP Paribas, Agricole, Commerzbank, Air France-KLM, STMicroelectronics, Alstom, Iberia, Man

    European markets were mixed on the day.

    The FTSE Eurofirst 300 added 0.33 percent to 1,514.43, while in Paris the CAC-40 gained 0.38 percent to 5,590.54.

    On the other hand, Madrid’s IBEX fell 0.2 percent to 14,305.5 while the Dax dropped 0.28 percent to 7,485.99 in Frankfurt.

    Banks were higher.

    Commerzbank (FWB: CBK) was up 0.41 percent to €29.59 and Deutsche Bank (FWB: DBK; NYSE: DB) was 0.55 percent higher to €91.53, while Credit Agricole (Euronext: ACA) added 0.95 percent to €27.75 and BNP Paribas (Euronext: BNP; TYO: 8665) gained 1.02 percent to €78.50.

    The automobile manufacturing sector also saw gains.

    DaimlerChrysler (FWB: DCX; NYSE: DCX; TYO: 7663) was up 0.1 percent to €63.12 after having been as much as 1.6 percent higher earlier in the session.

    Volkswagen (FWB: VOW; OTC: VLKAY) added 0.68 percent to €150.06, while Renault gained 1.6 percent to €101.85 on a report that it will form a “strategic partnership” with General Motors’s (NYSE: GM) Opel division that is expected to save money for both companies.

    On the other hand, truck maker Man (FWB: EDF1) dropped 1.16 percent to €102.39.

    Airlines were mixed, with Air France (Euronext: AF; NYSE: AKH) 0.79 percent higher to €29.44 but Iberia Lineas Aereas de Espana down 1.8 percent to €3.24 after news that a bid from British Airways (LSE: BA; NYSE: BAB) and TPG Inc could be cut back. The semiconductors sector saw declines.

    STMicroelectronics (Euronext: STM; NYSE: STM) was down 0.24 percent to €12.40, while Infineon (FWB: IFX; NYSE: IFX) fell 1 percent to €10.92.

    Power generator and manufacturer Alstom (Euronext: ALO) gained 0.7 percent to €130.13 on the news that it won two new contracts to make power turbines for power plants in the UK an the United Arab Emirates.





    August 24, 2007

    Financial services groups see declines

    Filed under: Other, Peugeot, Allianz, BNP Paribas, Societe Generale, Agricole, Commerzbank, Saipem, Total, Dexia, Man, Lafarge, MLP

    European markets were mostly higher, but the Dax dropped 0.06 percent to 7,507.27 in Frankfurt.

    The FTSE Eurofirst 300 added 0.34 percent.

    In Madrid, IBEX was up 0.29 percent to 14,334.4 while the Paris CAC-40 gained 0.83 percent to 5,569.38.

    Banks and other financials service groups saw declines on the session.

    Credit Agricole (Euronext: ACA) fell 0.11 percent to €27.49, while Societe Generale (Euronext: GLE) was down 0.33 percent to €119.24, Dexia (Euronext: DEXB; Euronext: DX) dropped 0.5 percent to €19.86 and BNP Paribas (Euronext: BNP; TYO: 8665) was down 0.88 percent to €77.71 for the worst performance on the CAC-40.

    Commerzbank (FWB: CBK) was 1.01 percent lower to €29.40.

    Insurer Allianz (FWB: ALV; NYSE: AZ) fell 0.92 percent to €157.22, while financial planner MLP (FWB: MLPG) had the worst day on the Dax with a decline of 2.67 percent to €12.02.

    Truck manufacturer Man (FWB: EDF1) was the best performer on the Dax, adding 4.46 percent to €103.59.

    Elsewhere in motor vehicle manufacturing, Peugeot (Euronext: UG; OTC: PEUGY) gained 1.55 percent to €61.11.

    Other gainers included cement maker Lafarge, which was up 1.42 percent to €115.09, helped by a US Commerce Department report that showed new home sales gained 2.8 percent in July over the previous month.

    In the oil sector, Total (Euronext: FP; NYSE: TOT) added 1.39 percent to €54.14 and Saipem (ISE: SPM) gained 3.9 percent to €26.33 as crude oil prices saw gains.





    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 16, 2007

    Deutsche Boerse drops 6.57 percent

    Filed under: Other, Deutsche Bank, BMW, Renault, BNP Paribas, Deutsche Borse, Unibail, Man, Lafarge, Vinci, Vallourec, Bouygues

    Markets were also substantially lower in Europe on Thursday.

    The FTSE Eurofirst 300 was 3.21 percent lower to 1,443.89.

    The Dax dropped 2.36 percent to 7,270.07 in Frankfurt and the CAC-40 was down 3.26 percent to 5,265.47 in Paris.

    In Madrid, the IBEX fell 3.68 percent to 13,986.4.

    There were no winners on either the CAC-40 or the Dax on the session.

    The biggest loser on the Dax was stock exchange operator Deutsche Boerse (FWB: DB1), which was 6.57 percent lower to €75.13, while the worst performance on the CAC-40 came from steel tubes manufacturer Vallourec (Euronext: VK) at 7.93 percent lower to €171.85.

    Car and truck makers fell substantially.

    BMW (FWB: BMW) dropped 4.23 percent to €34.99, while Renault (Euronext: RNO) was 4.42 percent lower to €91.20 and truck maker Man (FWB: EDF1) declined 6.38 percent to €96.07.

    Builders and construction materials providers dropped in France.

    Bouygues (Euronext: EN), which has holdings in both the construction sector and in media, was 4.36 percent lower to €50.88, while construction group Vinci (Eurnoext: DG) fell 4.48 percent to €46.70 and construction materials group Lafarge (Euronext: LG; NYSE: LR) dropped 5.09 percent to €108.43.

    Property group Unibail (Euronext: UL) was down 5.9 percent to €161.50, while financial planners MLP (FWB: MLP) was down 4.17 percent to €11.50.

    Among banks, Deutsche Bank (FWB: DBK; NYSE: DB) fell 1.9 percent to €91.65 and BNP Paribas (Euronext: BNP; TYO: 8665) dropped 3.1 percent to €74.67.





    August 15, 2007

    Commerzbank gains as other European banks decline

    Filed under: Other, UBS, Deutsche Bank, Axa, Allianz, BNP Paribas, Societe Generale, Commerzbank, Air France-KLM, France Telecom, Deutsche Borse, Lufthansa, Bayer, Cap Gemini

    Europe’s equities markets were mostly lower on Wednesday.

    The exception was Frankfurt’s Dax, which added 0.28 percent to 7,445.9.

    The FTSE Eurofirst 300 fell 0.08 percent to 1,493.42.

    In Madrid, the IBEX dropped 0.18 percent to 14,527.6, while the Paris CAC-40 was 0.66 percent lower to 5,442.72.

    Banks were mostly lower, again the exception coming in Germany where Commerzbank (FWB: CBK) added 0.47 percent to €29.67. UBS (SWX: USBN; NYSE: UBS; TYO: 8657) dropped 0.4 percent to SFr63.25 after Deutsche Bank (FWB: DBK; NYSE: DB) cut the Swiss bank’s target share price from SFr90 to SFr80 but reconfirmed its “buy” recommendation.

    Deutsche Bank, in turn, had its recommendation cut from “buy” to “neutral” by Merrill Lynch (NYSE: MER; TYO: 8675), sending the German bank 1 percent lower to €93.43.

    Among French banks BNP Paribas (Euronext: BNP; TYO: 8665) fell 1.45 percent to €77.05, while Societe Generale (Euronext: GLE) was down 2.29 percent to €116.27.

    Insurers also saw declines.

    Allianz (FWB: ALV; NYSE: AZ) dropped 1 percent to €154.23, while AXA (Euronext: CS; NYSE: AXA) was 1.2 percent lower to €28.49 after Credit Suisse (SWX: SCGN; NYSE: CS) cut its recommendation from “outperform” to “neutral”.

    The best performance on the Dax came from drug and chemicals group Bayer (FWB: BAY; NYSE: BAY; TYO: 4863), which added 5.49 percent to €55.07 on the possibility that Novartis (NYSE: NVS) might offer for the company.

    Officials of both Bayer and Novartis declined to comment on the rumors.

    Stock exchange operator Deutsche Boerse (FWB: DB1) had the worst day on the Dax as it dropped 2.66 percent to €80.54.

    IT group Cap Gemini (Euronext: CAP) had the best day on the CAC-40, adding 4.04 percent to €45.63, while the worst performer on the 40 was Air France (Euronext: AF; NSYE: AKH) with a 2.74 percent decline to €28.70.

    On the other hand, Lufthansa (FWB: LHA) gained 1.56 percent to €20.21.

    France Telecom (Euronext: FTE; NYSE: FTE) added 1.26 percent to €20.90 on rumors that it has won the license to sell Apple’s (NAS: AAPL; LSE: ACP; FWB: APC) iPhone in France.





    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 10, 2007

    Banks decline in Europe

    Filed under: Other, Deutsche Bank, Infineon, Volkswagen, Renault, BNP Paribas, Societe Generale, ThyssenKrupp, Air France-KLM, Lufthansa, STMicroelectronics, Mittal Steel, Alstom, Man

    European markets lost substantial ground Friday, with the FTSE Eurofirst 300 down 2.86 percent to 1,482.14.

    The Dax dropped 1.48 percent to 7,343.26 in Frankfurt, while the Paris CAC-40 fell 3.13 percent to 5,448.63 and had no gainers on the day.

    In Madrid the IBEX was 2.59 percent lower to 14,453.9.

    The financial services sector saw declines after the European Central Bank added to Thursday’s injection of €94.8 billion in extra cash into the financial system with another contribution of €61 billion, with indications that it could add more cash to the system over the weekend.

    Deutsche Bank (FWB: DBK; NYSE: DB) dropped 3.46 percent to €95.18, while BNP Paribas (Euronext: BNP; TYO: 8665) was 4.36 percent lower to €78.97 and Societe Generale (Euronext: GLE) fell 5 percent to €122.20.

    The steel sector was mixed.

    While ThyssenKrupp (FWB: TKA; LSE: THK) was 0.37 percent higher to €38.10 in Frankfurt, Mittal Steel (Euronext: MT; NYSE: MT) dropped 5.42 percent to €41.92 on fears that the troubled economy could lead to declines in demand.

    Airlines were also down on the session as Lufthansa (FWB: LHA) dropped 3.78 percent to €19.11 and Air France (Euronext: AF; NYSE: AKH) fell 5.43 percent to €28.56.

    The car and truck manufacturing sector was mixed on the session as well, with Volkswagen (FWB: VOW; OTC: VLKAY) leading the Dax for the second day in a row as it added 1.79 percent to €143.87.

    On the other hand, Renault (Euronext: RNO) fell 3.84 percent to €95.13, while truck maker Man (FWB: EDF1) was the biggest loser on the Dax with a decline of 4.2 percent to €94.87.

    Power generator Alstom (Euronext: ALO) was the worst performer on the CAC-40 as it dropped 7.31 percent to €124.10.

    The semiconductors sector was lower, as well. Infineon (FWB: IFX; NYSE: IFX) fell 4.1 percent to €10.75, while STMicroelectronics (Euronext: STM; NSYE: STM) was 4.2 percent lower to €12.56.





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