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    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 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 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.





    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 8, 2007

    Chipmakers up on Nokia deal

    Filed under: Other, Infineon, Volkswagen, Axa, Peugeot, Allianz, Air France-KLM, Schering, Lufthansa, Bayer, STMicroelectronics, Unibail, Man, Altana

    Equities markets made significant gains in Europe on the session Wednesday.

    The FTSE Eurofirst 300 added 1.96 percent to 1,554.5.

    In Frankfurt the Dax was up 1.23 percent to 7,605.94, while the Paris CAC-40 gained 2.29 percent to 5,749.29 and the IBEX was 2.4 percent higher to 15,004.2 in Madrid.

    Chipmakers saw gains after mobile phone manufacturer Nokia (OMX: NOK1V; NYSE: NOK; FWB: NOA3) said it would partner more closely with 4 companies to design the chips it uses in its phones.

    Infineon (FWB: IFX; NYSE: IFX) added 1.7 percent to €11.29, while STMicroelectronics (Euronext: STM; NYSE: STM) was 5.7 percent higher to €12.99 on the news.

    Insurers were also higher, with Allianz (FWB: ALV; NYSE: AZ) up 2.13 percent to €161.16 and Axa (Euronext: CS; NSYE: AXA) gaining 3.58 percent to €30.07.

    Airlines were lower as Lufthansa (FWB: LHA) dropped 2.54 percent to €20.73 and Air France, the worst performer on the CAC-40, fell 3.36 percent to €32.22.

    Car and truck makers also saw declines.

    Man (FWB: EDF1) was 0.08 percent lower to €102.86, while Peugeot (Euronext: UG; OTC: PEUGY) dropped 0.92 percent to 61.43 and Volkswagen (FWB: VOW; OTC: VLKAY) was down 1 percent to €139.63 after Goldman Sachs (NYSE: GS) removed it from its “conviction buy” list.

    The pharmaceuticals sector was mixed, with Bayer (FWB: BAY; NYSE: BAY; TYO: 48.63) adding 5.8 percent to €54.25 after Goldman Sachs reiterated the drug maker’s position on its “conviction buy” list.

    Meanwhile, Schering (FWB: SCH) dropped 0.52 percent to €104.03.

    Chemicals company Atlanta (FWB: ALT; NYSE: AAA) was the worst performer on the Dax as it dropped 2.98 percent to €16.31, while commercial property investment group Unibail (Euronext: UL) had the best day on the CAC-40 with a gain of 7.22 percent to €180.02.





    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 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 25, 2007

    Siemens lower on sale, purchase

    Filed under: Other, DaimlerChrysler, Peugeot, Renault, STMicroelectronics, Siemens, Man, Vivendi, Fresenius Medical Care

    Most European markets saw declines for the second session in a row on Wednesday.

    The major exception was Madrid’s IBEX, which added 0.16 percent to 14,937.7.

    In Paris, the CAC-40 dropped 1.19 percent to 5,837.11, while the Dax was 1.46 percent lower to 7,692.55 in Frankfurt.

    The FTSE Eurofirst 300 fell 0.92 percent to 1,571.04.

    The biggest decliners on the day were in the semiconductors and engineering sectors.

    Engineering group Siemens (FWB: SIE; NYSE: SI) was down 5.98 percent to €99.34 in Frankfurt after it sold its auto parts unit for a price that was lower than had been anticipated and said at the same time that it will purchase American medical diagnostic products manufacturer Dade Behring Holdings (NAS: DADE) for $7 billion, a price analysts say is too high.

    Siemens’ decline came even though it reported that its net income was up by 54 percent in its fiscal third quarter from the same period last year.

    In Paris, meanwhile, STMicroelectronics (Euronext: STM; NYSE: STM) dropped 6.42 percent to €12.83 after it reported losses for the quarter.

    The biggest winner on the Dax was Fresenius Medical Care (FWB: FREG), which added 1.68 percent to €35.13 on news that the United States Congress is debating whether to expand Medicare dialysis coverage for senior citizens from 30 months to 42 months.

    Meanwhile, media group Vivendi (Euronext: VIV) was the best performer on the CAC-40 with a gain of 1.51 percent to €32.27.

    Carmakers were mixed on the session.

    In Frankfurt, DaimlerChrysler (FWB: DCX; NYSE: DCX; TYO: 7663) added 1.81 percent to €67.15 after it reported profits that were higher than expected from its Mercedes unit.

    On the other hand, Renault (Euronext: RNO) dropped 3.51 percent to €108.10 while Peugeot (Euronext: UG; OTC: PEUGY) fell 5.93 percent to €61.70 on profit-taking.

    Truck manufacturer Man (FWB: EDF1) was also lower, dropping 2.45 percent to €106.07.





    July 24, 2007

    Insurers, utilties lower in Europe

    Filed under: Other, Axa, BMW, Peugeot, Allianz, Deutsche Post, Eon, Suez, Total, STMicroelectronics, Man

    The European markets saw significant declines on Tuesday.

    The FTSE Eurofirst 300 dropped 1.4 percent to 1,587.23.

    The least of the losers in terms of percentage was the IBEX, which was down 0.98 percent to 14,909.7 in Madrid.

    In Paris the CAC-40 was 1.69 percent lower to 5,907.47, while the Dax fell 1.73 percent to 7,806.79 in Frankfurt.

    Car and truck manufacturers were among the few gainers on the session.

    In Paris, Peugeot (Euronext: UG; OTC: PEUGY) added 0.75 percent to €65.59 for the best performance of the day on the CAC-40.

    Meanwhile truck maker Man (FWB: EDF1) had the best day on the Dax as it added 1.54 percent to €109.02.

    Still, the sector remained mixed with BMW (FWB: BMW) down 2.18 percent to €38.15.

    Insurers had the worst day on both the Dax and the CAC-40.

    In Frankfurt Allianz (FWB: ALV; NYSE: AZ) dropped 2.44 percent to €164.07, while in Paris Axa (Euronext: CS; NYSE: AXA) fell 3.27 percent to €30.50.

    Utilities were also lower, with Eon (FWB: EOA; LSE: EON; NYSE: EON) down 2.12 percent to €120.03 and Suez (Euronext: SZE; NYSE: SZE) closing at €40.33, a decline of 2.58 percent.

    In the semiconductors sector, STMicroelectronics (Euronext: STM; NYSE: STM) was 2.63 percent lower to €13.71, while among oil companies Total (Euronext: FP; NYSE: TOT) fell 2.28 percent to €59.17.

    Deutsche Post (FWB: DPW; LSE: DPO) was down 2.26 percent to €22.07 after a report that United Parcel Service (NYSE: UPS) has seen strong growth internationally.





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