The FTSE Eurofirst 300 was up, but just barely, on Monday, adding only 0.04 percent to end the session at 1,538.32. The energy sector was lower on bids news, while the banking sector declined on profit-taking.

Airlines were higher on the session, however. Aer Lingus added 1.8 percent to €2.85 after Ryanair said that it might make a new bid for its rival. This could happen as soon as in May if its previous, lapsed, bid is cleared by competition authorities of the European Commission. Ryanair, meanwhile, gained 6.8 percent to €11.98 on an unexpected report of net profits that were up 30 percent in its fiscal third quarter.

Profit-taking in the banking sector was encouraged by brokers who issued downgrades to both SEB and Credit Suisse. ING dropped its recommendation on Credit Suisse from “buy” to “hold”, sending the Swiss bank 0.7 percent lower to SFr88.10. Swedish Bank SEB dropped 1.9 percent to SKr230.50 on a downgrade from “hold” to “sell” from Deutsche Bank, which said that the benefits of a possible merger with Nordea were already priced in. Nordea held steady at SKr110.

In the energy sector, Endsea was lower after Eon’s Friday bid was lower than Friday’s closing price but higher than its previous offer for the Spanish company. While some Endsea shareholders had hoped for a higher bid, Eon’s bid was high enough according to an analyst at Dresdner Kleinwort. Endsea dropped 2.4 percent to €38.10, while Eon fell 0.4 percent to €108.97. Acciona, the Spanish builder which holds 21 percent of Endsea, added 0.3 percent to €155.45 amid speculation that it could oppose the deal after it said last week that it would sell its stake in Endsea if the bid by Eon is accepted.

The FTSE Eurofirst 300 closed at its highest level in six years when it added 0.6 percent on Friday to end the session at 1,519.81.

The week saw big gains in more than one sector.  Deutsche Borse added 10.4 percent on the week to a record share price of €164.30, with one analyst saying that estimates of the stock exchange operator’s earnings growth for the year, at 10 percent, were conservative.

In the construction sector, consolidation possibilities brought big advances.  The news that holding company Artemis had purchased a 5.1 percent stake in French company Vinci sent Vinci’s shares 8.4 percent higher to €104.90.  In Spain, meanwhile, Sacyr-Vallehermoso added 10.2 percent to €48.32.

Deutsche Post gained 7.2 percent on the week to €23.98 on rumors that a private equity group was looking to buy at least part of the 30.6 percent stake owned by the German government, despite predictions of union and political opposition to such a bid.

In the Swedish banking sector, Nordea added 2.2 percent to SKr110.60 and SEB gained 7.5 percent to SKr237.00 on renewed rumors that the two banks could merge.

On the negative side, EADS dropped 2.7 percent during the week, to €24.39, after the aerospace firm issued its second profits warning in four months.  In the French energy sector, Suez was 5.8 percent lower to €38.01 after a withdrawn bid for the company, while Gaz de France dropped 6 percent to €33.73.

The FTSE Eurofirst 300 closed Friday at its highest level in five and a half years, adding 0.6 percent on the session and 2.8 percent higher on the week at 1,489.09. The Eurofirst has gone up 16.7 percent since the beginning of the year.

Banks were big gainers during the week. Nordea added 6.3 percent to SKr106.2 when Sampo of Finalnd was reported to have added to its stake in Swedish bank. Sampo gained 4.2 percent during the week to €20.38. ING was 6.8 percent higher to €33.68 and ABN Amro was up 7 percent to €24.30 on rumors that the two are in talks over a bid from ING.

Meanwhile, Raiffeisen International added 9.1 percent over the week on investor enthusiasm about its presence in central and eastern European markets. Citigroup began coverage of the Austrian bank with a “buy” recommendation, citing the potential value of Raiffeisen’s holdings in Russia and the Ukraine.

The retail sector saw gains, as well. Inditex, owner of the Zara fashion chain, gained 8 percent to €41.70 on the week on better than expected results in the third quarter. Ahold was 9.7 percent higher to €8.25 on rumors of a coming bid from private equity group KKR and on positive comments from UBS.

The FTSE Eurofirst 300 added 0.4 percent on Tuesday to close at 1,462.53 as merger rumors continued in the banking sector.

There were gains in the retail sector. Carrefour added 2 percent to €47.22 after Tesco decided to buy the other half of China-based supermarket chain Hymall. The move underscored the value of the French retailer’s interests in that Asian nation. Ahold was 3.9 percent higher to €7.81 on speculation about the Dutch retailer’s restructuring after it agreed to sell part of its interests in the US last month. Some hedge fund investors are urging Ahold to completely divest itself of US holdings.

In the banking sector, Nordea added 6.7 percent to SKr107 after it became known that Sampo of Finland purchased 12.8 million more shares of the bank in November. Bids rumors circulated although some analysts said that Sampo was simply looking for a better position before the Swedish government sells its stake in Nordea. Sampo added 3.1 percent to €20.20 on the speculation, while Svenska Handelsbanken added 0.5 percent to SKr192.50 and SEB gained 2.6 percent to SKr213.00.

Stock exchange operator Deutsche Borse dropped 2.1 percent to €134.22 on a downgrade from “add” to “hold” from West LB, which cited valuation issues as a reason for its move.

In the electronics sector, meanwhile, Philips Electronics was 0.7 percent lower to €27.72 after its joint venture in South Korea, LG.Philips LCD, dropped almost 8 percent after being looked at by authorities concerning allegations of price fixing.

The FTSE Eurofirst 300 was 0.1 percent higher on Monday to 1,374.02 as the car and truck manufacturing sector was again in the news. Swedish stocks were generally higher after an election there, sending Stockholm’s OMX 30 index 0.7 percent higher for the session.

As expected German truckmaker MAN made a bid for Swedish rival Scania. Scania, however, rejected the bid, worth €9.6 billion in cash and shares, in concert with major shareholders Volkswagen and Investor. Shares in MAN dropped 5.3 percent on the news, to €60.61, while Scania’s B shares were 5.9 percent higher to SKr449.50. Investor B shares added 0.7 percent to SKr154, while Volkswagen ended the session even at €65. Renault, which said that it had sold its Scania shares to MAN, dropped 1.8 percent to €88.15. Outside the MAN/Scania situation but still in the sector, DaimlerChrysler fell 0.8 percent to €38.85 after a 5.6 percent decline on Friday after it cut its operating profits forecast for the year.

Swedish companies that saw gains due to the post-election bounce included TeliaSonera, up 1.1 percent to SKr45.70 on speculation that the new center-right government, which owns 45.3 percent in the telecom operator, could sell its stake. Nordea Bank was 1.6 percent higher to SKr94.50, also on the expectation that the new government will sell its 20 percent stake for up to €5.2 billion. Likewise, air carrier SAS gained 2.2 percent to SKr93.75 on the possibility that the government will sell its 21.4 percent stake in the airline.

Not all Swedish shares were up, however. Telecommunications equipment maker Ericsson was up early but ended the session down 0.4 percent to SKr24.80. Elsewhere in the telecoms equipment sector, Finnish company Nokia continued its decline, dropping 1.1 percent to €14.97 amid continuing rumors that it will issue a profits warning soon.

The FTSE Eurofirst 300 was not helped on Thursday by bids rumors in the banking and automobile manufacturing sectors. The Eurofirst dropped 0.1 percent to 1,369.27 as investors continued to worry about inflation in the United States.

There were more details concerning an anticipated bid by MAN to acquire Scania. It was rumored that the German truck maker would submit a largely cash bid worth around €9.5 billion for its Swedish rival. The key still seems to be convincing top Scania shareholders Volkswagen and Investor to support the deal, which some say could be announced as soon as Monday.

Scania B shares dropped slightly on the session, by 0.4 percent to SKr154, but Volkswagen added 0.9 percent to €64.83, Investor gained 2.3 percent to SKr154, and MAN was 5.1 percent higher to €63.19.

In other mergers and acquisitions news, it was said that Netherlands bank ABN Amro could soon receive a bid from Bank of America. Such rumors have circulated before, and some analysts did not give them much credence. However, shares in ABN Amro were up 1.3 percent to €22.39. Also in the banking sector, there was speculation that a merger between SEB and Nordea might be coming up. The talk sent Nordea 3 percent higher to SKr95.25, while SEB added 3.8 percent to SKr203.50.

Shares in companies that deal in luxury goods were mixed. On the strength of a positive trading statement that had sales up 16 percent in the first five months of its fiscal year, Richemont gained 2 percent to SFr59.90. Meanwhile, Hermes International added 3 percent to €67.70 even though its first half net profits weren’t quite up to analysts expectations. Italian jeweler Bulgari, on the other hand, dropped 2.6 percent to €9.86 after its most recent guidance was not as optimistic as had been hoped.

Advances in technology stocks and the banking sector took the FTSE Eurofirst 300 up by 2.2 percent on Wednesday to 1,299.19. It was the first day of gains after four consecutive days of losses for the 300.

In Italy, Banca Monte dei Paschi di Siena was 4.4 percent higher to €4.54 as new rumors circulated that Sanpaolo IMI might be interested in offering. Sanpaolo added 2.8 percent to €13.68. Nordea added 5.5 percent to SKr85.75 after it released a more positive quarterly report than had been expected. Credit Agricole was up 5.6 percent to €30.15 on the possibility that it would be the only bidder for Emporiki Bank of Greece, which dropped 3.7 percent to €25. Bank of Cyprus was rumored to be considering pulling out of the bidding over difficulties involving pension costs; it added 8.8 percent on the session to €7.14.

Among telecommunications companies, Nokia was 5.4 percent higher to €15.56 on an upgrade by Lehman Brothers, from “equal weight” to “overweight”, ahead of its quarterly report, due later in the day. Meanwhile, Ericsson gained 6.9 percent to SKr23.20 on news that it has secured a contract to build a GSM network for Brazilian telecom Vivo.

In the semiconductor sector, Infineon was up 3.2 percent to €8.73, while STMicroelectronics gained 4.9 percent to €12.35 and ASML advanced by 6.4 percent to €15.80 on record net profits in the second quarter.

Declines in shares of financial companies sent the FTSE Eurofirst 300 down by 0.8 percent to 1,379.72 on Wednesday. While financials posted generally positive quarterly reports, investors took profits, sending share prices down.

In the banking sector, both Deutsche Bank and Credit Suisse issued quarterly reports this week that showed profits up more than had been expected. Credit Suisse said Tuesday that it had achieved record profits in its investment banking division, but because some analysts wondered whether those profits could be sustained over the longer term, Credit Suisse dropped 2.3 percent on the day to SFr77.10. Meanwhile, Deutsche Bank reported a net profit of 55 percent in the first quarter. It also announced a share buyback plan for up to 10 percent of its shares. Despite this news, Deutsche Bank was down 1.7 percent to €95.56. Nordea was also down, by 2.4 percent to SKr93.50, even though its first-quarter earnings were higher than had been expected.

German insurer Allianz also saw its share price decline on the day even though its quarterly report showed earnings higher than predicted. Allianz dropped 1.7 percent to €131.60.

A report of record first-quarter profits didn’t help BMW avoid a losing session, either. Despite healthy sales in Europe and the US in April and an 81 percent increase in net income in the quarter, the automobile manufacturer saw its shares decline by 2.7 percent to €42.26.

In the construction sector, Spanish company Grupo Ferrovial was up 2.9 percent to €67 after it released a first-quarter report showing net profits were up 43.6 percent. However UK operator BAA again rejected Ferrovial’s bid even after Ferrovial said that it would raise its bid if it was allowed to complete due diligence. BAA said that Ferrovial’s bid had undervalued its business.

In Europe on Thursday, the FTSE Eurofirst 300 dropped 0.1 percent on the day to close at 1,376.57, down for the first time on over two weeks of trading sessions. On the other hand, Frankfurt’s Xetra Dax gained 0.3 percent to 5,947.11 several German companies saw advances on the day.

Utilities were down as merger talks remained in the news. Italy’s Enel dropped 0.7 percent to €7.02 despite a 48 percent gain in net profits for the full year and the announcement of an increased dividend. Suez also dropped 0.7 percent to €34.37, while Gaz de France declined by 0.9 percent.

Banks were up, led by Commerzbank, which added 2.9 percent to €31.94 on an upgrade to “buy” from UBS. Goldman Sachs raised its earnings predictions on several Nordic banks, sending their shares up as well. SEB gained 2.5 percent to SKr186.50, while Nordea Bank was up 1.3 percent to SKr95, Swedbank added 1.2 percent to SKr213.50, and SHB rose 0.5 percent to SKr211.

Swiss watchmaker Swatch lost 2.2 percent to SFr220.10 on a profits report that did not meet expectations.

Among the companies that helped the Xetra Dax on the day were Schering, Lufthansa, and Infineon. Chipmaker Infineon gained 8.5 percent to €8.92, while pharmaceutical company Schering was up 2.7 percent to €85.23 on reports that Bayer was thinking about bidding for the company, which is already facing a hostile takeover attempt from Merck. Lufthansa added 5.4 percent to €14.52 on the announcement that it’s full year operating profits were up by 51 percent.