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    October 22, 2007

    European equities lower on renewed subprime worries

    Filed under: Other, Volkswagen, Societe Generale, Commerzbank, Air France-KLM, Lufthansa, Bayer, Mittal Steel, Man, Vinci, Vallourec, Bouygues

    European markets were lower on Monday as subprime concerns reemerged after comments from the G7 summit concerning a slowing global economy.

    The FTSE Eurofirst 300 dropped 1.3 percent to 1,543.56 while Madrid’s IBEX fell by the same percentage to 15,327.8.

    The Dax fell 1.13 percent to 7,794.94 while the CAC-40 was 1.38 percent lower to 5,661.27.

    Banks saw declines.

    Societe Generale (Euronext: GLE) was down 2.43 percent to €113.85, while Commerzbank (FWB: CBK) dropped 2.92 percent to €29.19 after its CEO warned that profits will be hurt by US subprime problems.

    Drug maker Bayer (FWB: BAY; TYO: 48633) had the worst day on the Dax as it dropped 3.44 percent to €58.19.

    The worst performer of the day on the CAC-40 was Mittal Steel (Euronext: MT; NYSE: MT), with a decline of 3.74 percent to €52.99, while steel products manufacturer Vallourec (Euronext: VK).

    Builders were also lower.

    Bouygues (Euronext: EN), with holdings in both construction and media, was 2.43 percent lower to €61.41 and Vinci (Euronext: DG) dropped 2.52 percent to €51.54.

    The best performer on the Dax was Volkswagen (FWB: VOW; OTC: VLKAY), with a gain of 1.65 percent, while truck maker Man (FWB: EDF1) gained a bare 0.11 percent to €122.94.

    Airlines were also higher.

    Air France (Euronext: AF; NYSE: AKH) added 0.46 percent to €26.11 while Lufthansa (FWB: LHA) was 0.54 percent higher to €20.30.





    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 12, 2007

    EADS helped by Boeing delays

    Filed under: Other, Commerzbank, Air France-KLM, Suez, Gaz de France, Lufthansa, Bayer, EADS, Lafarge, Vinci, Bouygues, Saint-Gobain

    Markets were mixed in Europe on Friday.

    The Dax added 0.09 percent to 8,041.26 in Frankfurt, while Madrid’s IBEX jumped 1.07 percent to 15,261.3.

    On the other hand, the FTSE Eurofirst 300 was 0.08 percent lower to 1,598.14 while the Paris CAC-40 dropped 0.32 percent to 5,843.95.

    EADS (Euronext: EAD; FWB: EAD) did the best on the CAC-40, adding 2.68 percent to €23.77 on new orders and on delays at US rival Boeing (NYSE: BA; TYO: 7661).

    In addition, JPMorgan Chase hiked EADS’ target share price from €26 to €28.

    Meanwhile, Commerzbank (FWB: CBK) was the best performer on the Dax, where it gained 2.16 percent to €31.22 on speculation that an Italian bank would launch a takeover bid.

    Utilities were higher.

    Gaz de France (Euronext: GAZ) was 1.45 percent higher to €37.84, while Suez (Euronext: SZE; NYSE: SZE) added 1.67 percent to €42.55.

    In the pharmaceuticals sector, Bayer (FWB: BAY; TYO: 4863) gained 1.66 percent to €57.66.

    Building materials group Saint-Gobain (Euronext: SGO) was the biggest loser on the CAC-40, where it dropped 3.1 percent to €72.60.

    Elsewhere in the sector, Lafarge (Euronext: LG; NYSE: LR) was down 1.11 percent to €117.61.

    Construction group Vinci (Euronext: DG) dropped 2.57 percent to €53.56 while Bouygues (Euronext: EN), which has interests in construction and media, fell 0.94 percent to €64.36.

    Airlines saw declines.

    Air France (Euronext: AF; NYSE: AKH) was down 2.04 percent to €27.81 while Lufthansa (FWB: LHA) was 2.16 percent lower to €21.25.





    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.





    September 25, 2007

    European oil sector lower

    Filed under: Other, Societe Generale, Agricole, Commerzbank, Statoil, ThyssenKrupp, Air France-KLM, Eon, Suez, RWE, EDF, Total, Mittal Steel, Lafarge, Vinci

    In Europe, equities markets declined on Tuesday as commodities-related shares fell with oil and metals prices.

    The Eurofirst 300 fell 1.04 percent to 1,529.91.

    The Dax dropped 0.24 percent to 7,769.44, while the CAC-40 was 0.89 percent lower to 5,641.59 and the IBEX was down 1.3 percent to 14,304.8.

    The oil sector declined as Total (Euronext: FP; NYSE: TOT) fell 1.57 percent to €57.18 and Statoil (OSE: STL; NYSE: STO) was 2.1 percent lower to Nkr186.25.

    The steel sector was mixed, with ThyssenKrupp (FWB: TKA; LSE: THK) up 0.94 percent to €44.88 on the news that it will participate in the building of a high-speed rail line from the center of Munich to the airport there.

    On the other hand, Mittal Steel down 1.55 percent to €54.10. Banks declined, still upset by problems in credit markets.

    Commerzbank (FWB: CBK) fell 1.55 percent to €27.95.

    Credit Agricole (Euronext: ACA) was 1.57 percent lower to €26.94 after Merrill Lynch (NYSE: MER; TYO: 8675) placed it on its “least preferred” list, while Societe Generale (Euronext: GLE) dropped 1.72 percent to €116.95.

    Builder Vinci (Euronext: DG) was 2.38 percent lower to €53.72, while construction materials group Lafarge (Euronext: LG; NYSE: LR) fell 2.57 percent to €105.73.

    The best performance on the CAC-40 came from Air France, which added 2.38 percent to €24.95 after it said it will raise prices to cover fuel charges.

    Utilities were also higher with Eon (FWB: EOA; LSE: EON; NYSE: EON), at the top of the leaders on the Dax, gaining 1.28 percent to €128.38.

    RWE (FWB: RWE) added 1.1 percent to €86.94, while EDF (Euronext: EEN) gained 0.54 percent to €72.95 and Suez (Euronext: SZE; NYSE: SZE) was up 0.1 percent to €39.91.





    September 20, 2007

    European markets decline but builders see gains

    Filed under: Other, Deutsche Bank, BMW, Renault, Air France-KLM, RWE, Metro, EDF, Deutsche Borse, Lufthansa, Lafarge, Vinci, MLP, Bouygues

    Equities markets in Europe were lower on the session.

    The FTSE Eurofirst 300 fell 0.63 percent to 1,539.89.

    In Frankfurt the Dax was 0.19 percent lower to 7,735.09, while Madrid’s IBEX was down 0.47 percent to 14,427.1 and the Paris CAC-40 dropped 0.73 percent to 5,688.76.

    Vinci (Euronext: DG) had the best day on the CAC-40, where the construction group added 1.12 percent to €53.19.

    Also in the sector Bouygues (Euronext: EN), with interests in both construction and media, gained 0.22 percent to €60.

    In the related building materials sector, however, Lafarge (Euronext: LG; NYSE: LR) dropped 2.28 percent to 109.90.

    The worst performance on the CAC-40 came from the utilities sector, where EDF (Euronext: EEN) was 3.34 percent lower to €71.77, but the sector was mixed as RWE (FWB: RWE) added 0.8 percent to €86.28.

    Retailer Metro (FWB: MEO) had the best day on the Dax as it gained 6.21 to €66.54.

    Stock exchange operator Deutsche Boerse (FWB: DB1) was up 1.96 percent to €88.47.

    The worst performance on the Dax came from financial planners MLP (FWB: MLP) with a decline of 2.79 percent to €9.78.

    Deutsche Bank (FWB: DBK; NYSE: DB) dropped 2.04 percent to €92.38.

    Airlines and carmakers were both lower.

    Air France (Euronext: AF; NYSE: AKH) was down 3.23 percent to €25.20, while Lufthansa (FWB: LHA) was 1.5 percent lower to €19.66.

    Carmaker BMW (FWB: BMW) dropped 1.42 percent to €34.49 and Renault (Euronext: RNO) fell 1.63 percent to €96.80.





    September 18, 2007

    Builders see gains on session

    Filed under: Other, Deutsche Bank, BMW, BNP Paribas, Agricole, ThyssenKrupp, Eon, EDF, Sacyr-Vallehermoso, Mittal Steel, Man, Lafarge, ACS, Vinci, MLP, Cap Gemini

    European markets were higher on Tuesday after Monday’s declines.

    The FTSE Eurofirst 300 added 1.54 percent to 1,509.

    The Dax was up 1.27 percent to 7,575.21 in Frankfurt, while the Paris CAC-40 gained 2.02 percent to 5,549.35 and Madrid’s IBEX was 2.52 percent higher to 14,042.

    The best performance on the CAC-40 was construction group Vinci (Euronext: DG), with a gain of 4.53 percent to €50.54.

    Spain’s construction sector did even better.

    Sacyr Vallehermoso (IBEX-35: VAL) was up 4.9 percent to €24.09, while Actividades de Construccion y Servicios (IBEX-35: ACS) added 5.7 percent to €34.81 after a broker upgrade from “accumulate” to “buy”.

    In a related sector, construction materials group Lafarge (Euronext: LG; NYSE: LR) was 3.4 percent higher to €108.33.

    The steel sector saw gains.

    Mittal Steel (Euronext: MT; NYSE: MT) gained 2.96 percent to €49.36, while ThyssenKrupp (FWB: TKA; LSE: THK) was up 3.62 percent to €41.46 for the best performance on the Dax.

    Banks made gains.

    Deutsche Bank (FWB: DBK; NYSE: DB) added 2.47 percent to €90.36, while BNP Paribas (Euronext: BNP; TYO: 8665) was 3.11 percent higher to €74.19 and Credit Agricole (Euronext: ACA) gained 3.25 percent to €27.31.

    Motor vehicle manufacturers were mixed on the Dax.

    Truck maker Man (FWB: EDF1) was up 3.44 percent to €103.55, but BMW (FWB: BMW) dropped 0.38 percent to €34.41.

    Utilities were slightly lower on the session.

    EDF (Euronext: EEN) fell 0.12 percent to €74.05, while Eon (FWB: EOA; NYSE: EON; LSE: EON) was down 0.73 percent to €125.97.

    IT services group Cap Gemini (Euronext: CAP) had the worst day on the CAC-40 as it dropped 1.57 percent to €40.20, while financial planners MLP (FWB: MLP) was the worst performer on the Dax with a decline of 1.27 percent to €10.12.





    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 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 22, 2007

    Builder Vinci adds over 6 percent

    Filed under: Other, Infineon, ThyssenKrupp, Air France-KLM, RWE, Lufthansa, SAP, Mittal Steel, Vinci, Vallourec, Fresenius, Bouygues

    European markets were higher on the session Wednesday.

    The Eurofirst 300 gained 1.57 percent to 1,505.51.

    In Madrid the IBEX added 0.84 percent to 14,359.2, while the Dax was 1.02 percent higher to 7,500.48 in Frankfurt and the Paris CAC-40 was up 1.83 percent to 4,418.17 and had no losers on the day.

    The biggest gainer on the day in Paris was construction group Vinci (Euronext: DG), which added 6.41 percent to €51.

    Buoygues (Euronext: EN), which has interests in both construction and media, gained 4.05 percent to €53.93.

    The steel sector was also higher.

    ThyssenKrupp (FWB: TKA; LSE: THK) was 2.14 percent higher to €41.92, while Mittal Steel (Euronext: MT; NYSE: MT) was up 4.98 percent to €44.45.

    In addition Vallourec (Euronext: VK), which manufactures steel products, was up 4.47 percent to €190.71.

    In the semiconductors sector Infineon (FWB: IFX; NYSE: IFX) gained 2.76 percent to €11.17 on the news that it is looking to buy.

    Among airlines, Lufthansa (FWB: LHA) added 2.29 percent to €20.64, while Air France (Euronext: AF; NYSE: AKH) was up 3.82 percent to €29.38.

    Fresenius Medical Care (FWB: FREG) was the biggest decliner on the Dax, dropping 1.89 percent to €34.85.

    Other decliners included utility RWE (FWB: RWE), which fell 0.44 percent to €80.65.

    Software maker SAP (FWB: SAP; NYSE: SAP) was 0.21 percent lower to €38.71.





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