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    October 18, 2007

    Truck maker Man up on bids rumors

    Filed under: Other, Volkswagen, Peugeot, Lagardere, SAP, Man, Lafarge, Vinci, Bouygues

    European markets were mixed Thursday, with more losers than gainers.

    The gainer was Madrid’s IBEX, which added 0.5 percent to 15,507.1.

    Elsewhere, the pan-European FTSE Eurofirst 300 was down 0.78 percent to 1,572.92 while in Frankfurt, the Dax dropped 0.8 percent to 7,921.4 and the Paris CAC-40 fell 0.89 percent to 5,767.24.

    Truck maker Man (FWB: EDF1) was 2.31 percent higher to €121.75, for the best performance on the Dax, on reports that Swedish rival Scania (OMX: SCV B) could offer a bid soon.

    Volkswagen (FWB: VOW; OTC: VLKAY), which owns stakes in both Man and Scania, was up 0.86 percent to €175.53.

    Elsewhere in the sector, Peugeot (Euronext: UG; OTC: PEUGY) added 0.68 percent to €58.02.

    Over on the CAC-40 the best performance came from Lagardere (Euronext: MMB), with interest in both media and the defense sector.

    Lagardere added 2.22 percent to €59.05 on rumors that it could delist its shares.

    The biggest loser on the Dax was software group SAP (FWB: SAP), which dropped 3.31 percent to €38.23 despite a third-quarter report that profits were up by 10 percent, not as much as had been anticipated.

    Construction-related shares were mixed.

    Builder Vinci (Euronext: DG) was slightly higher, adding 0.08 percent to €52.50.

    On the other hand Bouygues (Euronext: EN), with interests in both construction and media, dropped 2.11 percent to €63.11.

    Meanwhile, construction materials group Lafarge (Euronext: LG; NYSE: LR) fell 1.39 percent to €115.52.





    October 5, 2007

    Carmakers make gains in Europe

    Filed under: Other, Infineon, Volkswagen, BMW, Renault, Lagardere, Mittal Steel, Lafarge, Vinci, Vallourec, MLP

    Markets were higher in Europe to end the week.

    The FTSE Eurofirst 300 was up 0.62 percent to 1,582.48.

    In Paris, the CAC-40 was 0.67 percent higher to 5,843.24 while the Dax added 0.73 percent to 8,002.18 in Frankfurt and Madrid’s IBEX jumped 1.18 percent to 14,892.1.

    The automobile manufacturing sector was higher.

    BMW (FWB: BMW) was up 1.82 percent to €39.26, while Renault (Euronext: RNO) gained 2.11 percent to €111.36.

    Volkswagen (FWB: VOW; OTC: VLKAY) added 4.38 percent to €168.17 on rumors that Porsche (FWB: POR3) could add to its stake in VW.

    The steel sector also saw gains.

    Mittal Steel (Euronext: MT; NYSE: MT) had the best day on the CAC-40 with a gain of 2.7 percent to €55.20, while steel products manufacturer Vallourec (Euronext: VK) was up 1.38 percent to €206.93.

    Financial planners MLP (FWB: MLP) was the best performer on the Dax as it added 5.62 percent to €11.41.

    Construction materials group Lafarge (Euronext: LG; NYSE: LR) gained 1.4 percent to €117.15, but builder Vinci (Euronext: DG) dropped 0.49 percent to €54.87.

    The worst performance on the CAC-40 came from Lagardere (Euronext: MMB) with a decline of 1.47 percent to €58.48.

    Meanwhile, chipmaker Infineon (FWB: IFX; NSYE: IFX) had the worst day on the Dax, falling 2.28 percent to €11.15.





    October 3, 2007

    EADS, Lagardere lower on insider trading allegations

    Filed under: Other, Deutsche Bank, Infineon, Peugeot, Renault, Agricole, Commerzbank, Air France-KLM, RWE, EDF, EADS, Lagardere, STMicroelectronics, Man, Alcatel-Lucent

    Most European markets were higher on the session, but Madrid’s IBEX dropped 0.04 percent to 14,783.8.

    In Frankfurt the Dax added 0.11 percent to 7,955.3, while the CAC-40 gained 0.12 percent to 5,806.18 in Paris.

    The Pan-European FTSE Eurofirst 300 was 0.16 percent higher to 1,570.81.

    Insider trading accusations sent aerospace and defense group EADS (Eurofirst: EAD; FWB: EAD) and Lagardere (Euronext: MMB), which has interests in both media and aerospace as an investor in EADS, lower on the session.

    Lagardere was the day’s worst performer on the CAC-40 as it dropped 5.42 percent to €58.45, while EADS fell 0.78 percent to €21.71.

    Lagardere officials said the allegations are unfounded, while EADS had no comment.

    Other decliners included the semiconductors and utilities sectors.

    Among chipmakers, Infineon (FWB: IFX; NYSE: IFX) was down 0.76 percent to €11.74 while STMicroelectronics (Euronext: STM; NSYE: STM) was 1.11 percent lower to €11.61.

    In the utilities sector, RWE (FWB: RWE) dropped 0.76 percent to €87.01 and EDF (Euronext: EEN) fell 0.81 percent to €73.54.

    Banks saw gains on the session.

    Credit Agricole (Euronext: ACA) was up 1.18 percent to €28.27, while Commerzbank (FWB: CBK) was 1.22 percent higher to €29.87 and Deutsche Bank (FWB: DBK; NYSE: DB) added 2.12 percent to €95.67.

    In the airlines sector, Air France (Euronext: AF; NYSE: AKH) was up 1.46 percent to €28.41.

    Car and truck makers also gained ground.

    Peugeot (Euronext: UG; OTC: PEUGY) was 1.52 percent higher to €60 while Renault (Euronext: RNO) gained 1.62 percent to €109.26.

    Meanwhile, truck maker Man (FWB: EDF1) turned in the best performance of the day on the Dax as it added 3.85 percent to €112.96.

    Alcatel-Lucent (Euronext: ALU; NYSE: ALU; TYO: 6687) had the best day on the CAC-40, gaining 2.37 percent to €7.37.





    September 13, 2007

    ThyssenKrupp higher on broker upgrade, new contract

    Filed under: Other, Infineon, BMW, Peugeot, ThyssenKrupp, RWE, EDF, Deutsche Borse, Lagardere, STMicroelectronics, Mittal Steel, Vivendi, Alcatel-Lucent, Vallourec, MLP

    The FTSE Eurofirst 300 was 1.02 percent higher to 6,363.9 as European markets made gains on Thursday.

    Madrid’s IBEX gained 0.7 percent to 14,077.8, the Dax added 0.84 percent to 7,535.97, and the Paris CAC-40 was up 1.05 percent to 5,565.97.

    Steel-related shares were higher.

    ThyssenKrupp (FWB: TKA; LSE: THK) gained 1.97 percent to €40.87, while Mittal Steel (Euronext: MT; NYSE: MT) was up 4.6 percent to €48.20.

    ThyssenKrupp’s gains came after it said it has won a new elevators contract in London and after ABN Amro (Euronext: AAB; NYSE: ABN) raised the steel-maker’s target share price.

    Meanwhile, steel products manufacturer Vallourec was the best performer on the CAC-40 as it added 4.82 percent to €191.26.

    Utilities were higher.

    RWE (FWB: RWE) was 1.37 percent higher to €81.73, while EDF (Euronext: EEN) gained 1.54 percent to €72.40.

    In the media sector, Vivendi (Euronext: VIV) was up 2.17 to €29.70 and Lagardere (Euronext: MMB) added 4.65 percent to €60.31.

    The best performance on the day on the Dax came from stock exchange operator Deutsche Boerse (FWB: DB1) which gained 3.33 percent to €81.07 after it said it would not buy into the London Stock Exchange.

    On the negative side of the ledger, financial planner MLP (FWB: MLP) had the worst day on the Dax with a decline of 1.42 percent to €11.09.

    The worst performance on the CAC-40 came from telecommunications group Alcatel-Lucent (Euronext: ALU; NYSE: ALU; TYO: 6687), which dropped 8.69 percent to €6.62.

    Carmakers saw declines, with Peugeot (Euronext: UG; OTC: PEUGY) falling 0.75 percent to €55.70 and BMW (FWB: BMW) down 0.97 percent to €34.75.

    The semiconductors sector was also lower.

    Infineon (FWB: IFX; NYSE: IFX) dropped 0.42 percent to €11.76, while STMicroelectronics (Euronext: STM; NYSE: STM) was 2.98 percent lower to €12.06.





    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.





    July 30, 2007

    Banks lower in Europe

    Filed under: Other, Deutsche Bank, Volkswagen, Peugeot, Renault, Societe Generale, Commerzbank, Michelin, Linde, Lagardere, Man

    The European markets were mixed on the session Monday.

    The Eurofirst 300 dropped 0.06 percent to 1,519.09, while the Paris CAC-40 added 0.04 percent to 5,646.36 and the Dax was up 0.6 percent to 7,456.31 in Frankfurt.

    In Madrid, the IBEX was 0.54 percent lower to 14,508.3.

    Banks were lower on the day, largely on concerns about their exposure to the subprime sector in the United States.

    Commerzbank (FWB: CBK) was the worst performer on the Dax, dropping 3.06 percent to €30.73 after it announced provisions it was making for possible losses due to exposure to the US subprime sector.

    Elsewhere in the sector, Deutsche Bank (FWB: DBK; NYSE: DB) was down 0.88 percent to €96.97 on the news that it is a finalist in the bidding for insurer Abbey Life, the closed life insurance unit of Lloyds TSB (LSE: LLOY).

    Societe Generale (Euronext: GLE) fell 1.77 percent to €123.52.

    Car and truck makers were mixed on the session.

    Peugeot (Euronext: UG; OTC: PEUGY) added 0.9 percent to €60.29, while Volkswagen (FWB: VOW; OTC: VLKAY) gained 2.95 percent to €128.46 after Unicredit (FWB: CRI; ISE: UC) raised its recommendation from “sell” to “hold”.

    Truck maker Man (FWB: EDF1) was 2.86 percent higher to €103.11.

    On the other hand, Renault (Euronext: RNO) dropped 0.83 percent to €102.40.

    In a related sector, tire maker Michelin (Euronext: ML) had the best day on the CAC-40 as it added 3.82 percent to €93.52.

    The best performer on the Dax was industrial gases group Linde (FWB: LIN), which gained 5.37 percent to €88.37 after it reported that profits were 5.9 percent higher in the second quarter and raised its full-year forecast.

    Media group Lagardere (Euronext: MMB) had the worst day in Paris, falling 1.92 percent to €58.20.





    July 27, 2007

    Semiconductors sector in gains

    Filed under: Other, Infineon, Volkswagen, BMW, Peugeot, Renault, Michelin, Metro, Carrefour, Lagardere, STMicroelectronics, Vivendi, Vinci, Bouygues

    Most European markets were also lower again on Friday.

    The main exception was the IBEX, which was 0.23 percent higher to 14,574 in Madrid.

    The FTSE Eurofirst 300 dropped 0.54 percent to 1,519.59. In Paris the CAC-40 was 0.55 percent lower to 5,643.96, while the Dax fell 0.76 percent to 7,451.68 in Frankfurt.

    The best performance on the session on the CAC-40 came from chipmaker STMicroelectronics (Euronext: STM; NYSE: STM), which added 1.44 percent to €12.66.

    Elsewhere in the semiconductors sector, Infineon (FWB: IFX; NYSE: IFX) was also higher, gaining 0.41 percent to €12.26.

    The Dax saw Volkswagen (FWB: VOW; OTC: VLKAY) rise to the top with a gain of 4.91 percent to €125.40.

    There were other gains in the automobile manufacturing sector as Renault (Eurnoext: RNO) was up 0.37 percent to €103.26 and Peugeot (Euronext: UG; OTC: PEUGY) added 1.17 percent to €59.75.

    Not all carmakers were higher however, as BMW (FWB: BMW) dropped 2.71 percent to €35.77.

    In a related sector, tire maker Michelin (Euronext: ML) had the worst day on the CAC-40 as it fell 3.72 percent to €90.08.

    The worst performance on the Dax came from retailer Metro, which dropped 2.99 percent to €56.39.

    Not all retailers saw declines, however, as Carrefour (Euronext: CA) added 0.62 percent to €51.64.

    The media sector was mixed.

    Vivendi (Euronext: VIV) added 0.29 percent to €31.53, while Lagardere (Euronext: MMB) was down 1.92 percent to €59.34 and Bouygues (Euronext: EN), which has interests in both media and construction, fell 2.09 percent to €57.61.

    Another construction group, Vinci (Euronext: DG), was 0.49 percent higher to €52.86.





    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.





    December 13, 2006

    Eurofirst nears five-year high

    Filed under: Raiffeisen, EDF, ABN Amro, Lagardere, ING, Erste Bank, Safran

    European equities markets were higher on Wednesday as the banking sector was mixed but mostly higher. The FTSE Eurofirst 300 closed at 1,471.57, a gain of 0.6 percent and just below a five-year high. In Germany, meanwhile, the Xetra Dax ended the session at 6,520.77, its highest closing level since February 2001.

    French publisher Lagardere added 2.5 percent to €59.10 on an upgrade from “neutral” to “buy” from UBS, which said it sees the possibility of growth by the publisher. Elsewhere in France, utility EDF added 4.8 percent to €55.55, a record high share price, on hopes that tariffs will go up soon. EDF’s shares have risen more than 15 percent since the end of November. On the other hand, French airplane engine manufacturer Safran dropped 6 percent to €15.95 after announcing that it was investigating accounting problems in its defense security unit and dropping its full-year operating profit margin target to 4 percent.

    Raiffeisen International was 6.1 percent higher to €107.13 on growth potential in central and eastern Europe, where the Austrian bank has extensive holdings. In addition, Citigroup began coverage of Raiffeisen with a “buy” rating and a target share price of €124. Among other Austrian banks, Erste Bank added 0.5 percent to €57.63. Erste also has exposure to eastern Europe.

    Elsewhere in the sector, ABN Amro was 3 percent higher to €24.10 on the news that it has completed its purchase of Italian bank Antonveneta. There were also rumors that ING is interested in bidding for ABN, its larger Dutch rival. ING gained 2.2 percent to €33.16.





    April 5, 2006

    Eurofirst gains

    Filed under: Neste Oil, DaimlerChrysler, Statoil, Repsol, Total, Alcatel, Thales, Belgacom, Mobistar, EADS, Lagardere

    The FTSE Eurofirst 300 closed up 0.4 percent to 1,379.11 after an early drop to as low as 1,369.89.

    The oil sector was instrumental in the day’s gains, with the sector up 0.9 percent as a whole. Neste Oil gained 3.8 percent to €28.90. Statoil was up 1.4 percent to NKr187, while Total added 1 percent to €218.30 and Repsol ended the day up by 0.4 percent to €23.70.

    Telecommunications companies were also on the rise. Belgian company Belgacom added 1.8 percent to €27.52 when Morgan Stanley upgraded the telecom from “underweight” to “equal-weight”. Elsewhere, mobile phone group Mobistar gained 2 percent to €61.55.

    The largest decline of the day came from European defence company EADS, which dropped 4.4 percent to €32.73. The company’s shares were down after two major shareholders said they will reduce their holdings in the parent company of Airbus. Media group Lagardere announced that it will reduce its stake in EADS from 15 percent to 7.5 percent. Lagardere ended the day 3.7 percent higher to €66.80 as Goldman Sachs upgraded it from “outperform” to “in-line.“ DaimlerChrysler will also reduce its stake in EADS by 7.5 percent, leaving it with 22.5 percent ownership of the defence company.

    EADS was also hurt by news that defense electronics group Thales, which had been rumored as a possible partner for EADS in its satellite business, will purchase French telecommunications equipment maker Alcatel’s satellite business instead. Alcatel added 2.1 percent to €13.35 and Thales dropped 2.5 percent on the day to €36.36.





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