Bids news were in focus in Europe on Thursday, taking the FTSE Eurofirst 300 up by just 0.1 percent to 1,360.8. Technology stocks were higher once again, while oil saw declines as crude oil prices slipped further.

In the semiconductor sector, STMicroelectronics added 2.6 percent to €12.79 and ASML gained 3 percent to €16.68, while in the telecommunications equipment sector Ericsson was 2.2 percent higher to SKr23.50.

Among oil companies and related service providers, Total fell 0.8 percent to €53.20, while Saipem dropped 1.8 percent to €17.39. Neste Oil declined by 2.5 percent to €24.97, while Statoil was 2.6 percent lower to NKr170.

In the automobile manufacturing sector, Volvo was 5 percent higher to SKr401.50 amid rumors that a group of investors would enter a bid or force the carmaker to return cash to its shareholders. Both Renault, which owns 20 percent of Volvo, and German company Man denied involvement in the rumored moves and both added 2.7 percent on the session to €90.75 and €60.10 respectively.

Wienerberger bid 216p per share for UK rival Baggeridge Brick, sending the Austrian brick maker’s shares 0.8 percent higher to €37.40. Irish brick maker CRH, meanwhile gained 0.7 percent to €25.59.

In the insurance sector, Zurich Financial dropped 1.9 percent to SFr282.50 even though a new report showed that its net profits were up by 9 percent in the first half of the year. The decline came on the news that written premiums were down more than had been expected.

In Europe on Monday, the FTSE Eurofirst 300 added 0.9 percent to 1,343.55 as oil prices declined and a ceasefire between Israel and Hizbollah went into effect. Also helping the advance was good performance in the insurance sector.

Despite falling prices, the oil sector saw gains after BP said that it could keep half of its Prudhoe Bay field in Alaska in production despite the necessity to replace corroded pipelines. Total was 0.7 percent higher to €53.05, while OMV added 1.1 percent to €45.40.

Airlines were mixed after the security level in Britain was lowered and some restrictions on carry-on luggage were lifted after last week’s terrorist warnings and arrests. Air France-KLM was up by 1.8 percent to €19.60, while Lufthansa gained 2 percent to €14.52. On the other hand, Ryanair dropped 1.2 percent to €7.150 on its complaints that BAA was not doing enough to get delayed flights off the ground.

The insurance sector as a whole was helped by a Citigroup upgrade from “neutral” to “positive”. Both Citigroup and Deutsche Bank named Allianz, Axa, and Zurich Financial as their favorites in the sector. On the comments, Allianz was 1.2 percent higher to €130.09, while Zurich Financial gained 1.5 percent to SFr282.00 and Axa advanced by 1.6 percent to €28.55. Reinsurers Munich Re and Swiss Re were also helped by the comments, adding 1.4 percent to €115.65 and 2 percent to SFr93.00 respectively.

An upgraded by Deutsche Bank from “hold” to “buy” helped steel maker ThyssenKrupp 2 percent higher to €26.61.

The FTSE Eurofirst 300 was up just 0.1 percent to 1,399.35 on the day Monday as the oil sector was weak on declining crude oil prices but insurance companies and banks did well.

The oil sector was down 1.5 percent as a whole. Statoil dropped 3.1 percent to NKr20 not only on lower oil prices but on a quarterly earnings report that did not meet expectations even though its operating profits were up by a reported 44 percent. Norsk Hydro was down 3.2 percent to NKr940. OMV declined by 5.1 percent to €53.40 despite saying that it is in talks with Verbund, Austria’s biggest utility. Neste Oil was down 4 percent to €27.75. Oilfield services company Saipem was down 2.3 percent on the day to €20.16.

In the insurance sector, CNP Assurances was up 4.3 percent to €92.90 after last week’s upgrade from West LB. Axa, another French insurer, added 1.2 percent to €30.36 after Bear Stearns reiterated its “outperform” rating. Axa is expected to release its quarterly report on Thursday. Meanwhile, Merrill Lynch raised its target share price on Zurich Financial from SFr350 to SFr365, sending Zurich up 1.9 percent on the day to SFr315.

Credit Suisse was up 0.3 percent to SFr77.90, Deutsche Bank added 0.4 percent to €99.20, and UBS was up 1.1 percent to SFr150.60 in a day of advances in the banking sector. ABN Amro gained 1.7 percent to €23.39, while UniCredit was up 1.9 percent to €6.22. But the star performer of the day was Banca Monte dei Paschi di Siena. On upgrades from Credit Suisse and Morgan Stanley, the Italian bank gained 3.5 percent on the day to €4.8760. Credit Suisse upped its rating on the bank from “neutral” to “outperform” on what it called its “restructuring potential”. Morgan Stanley based its upgrade, from “underweight” to “equal weight” on good earnings coupled with cost cutting and reduced credit charges.

The FTSE Eurofirst 300 was up 0.1 percent on Friday and gained 1.1 percent over the week to close at 1,369.38. Mergers and acquisitions provided most of the activity during the week.

Doubts that a widely-touted merger between Deutsche Borse and Euronext would come to anything did not hurt the shares of either stock market operator. Deutsche Borse was up 13.2 percent over the week, ending at €117.74, while Euronext was up 15.5 percent to €63.50. Some analysts said that such a merger would face a number of problems, including a monopoly on the derivatives market but not least where the headquarters of the newly created company would be located.

Analysts also had questions about a rumor that Zurich Financial Services is in discussions with US company St. Paul Travelers concerning a merger. Despite the questions, ZFS was up 4.7 percent on the day and gained 5.4 percent over the week to close at SFr316 on Friday.

In the pharmaceuticals sector, Schering was up and Merck was down over the week after Schering rejected an offer worth €77 per share from Merck. Merck dropped 4.6 percent to €79.90, while Schering gained 24 percent to €82.85.

In the automobile manufacturing sector, BMW was up 4.3 percent to €42.30 after it issued a positive guidance report that prompted a number of brokers to upgrade the carmaker’s shares.

In Europe on Thursday, the FTSE Eurofirst 300 was up 0.6 percent to 1,339.02. That was its highest close in over 4 years. At least part of the day’s advance was due to favorable earnings reports in several sectors.

In the banking sector, Societe Generale reported a higher than predicted rise in fourth-quarter profits, which it said were up by 42 percent due to higher revenues in its investment and banking units. This news saw its shares rise 4 percent to €118. Meanwhile, Zurich Financial Services gained 6.1 percent to SFr314 on a reported rise in full-year profits last year and predictions that the trend will continue this year. Also in Switzerland, Julius Baer gained 9.3 percent on the day to SFr112 after it said that outflows had slowed due to smaller than predicted withdrawals by clients unhappy with corporate moves last year.

In the telecommunications sector, Telnor of Norway announced a jump in fourth-quarter profits due to strength in its international subsidiaries. This included a doubling of revenues in its majority-owned Ukranian company Kyivstar. Telnor’s shares saw a 4.4 percent gain on the day to NKr71.25.

Cosmetics company L’Oreal was up 1 percent to €69.60 on news that it had its twenty-first consecutive yearly rise in profits. However, some analysts were worried that the profits had been achieved by cutting advertising and promotion, which was called unhealthy for the company’s long-term prospects.

Not all positive earnings reports translated into gains in share price on the day, however. Although its luxury Mercedes unit helped DaimlerChrysler beat fourth-quarter earnings predictions, the carmaker saw its shares decline 3.5 percent on the day to €48.33.

Other losers on the day included Deutsche Post, which dropped 2.2 percent to €22.08 on disappointing full-year earnings news and a downgrade from Deutsche Bank from “buy” to “hold”. Autostrade, the largest toll road operator in Italy, lost 0.8 percent to €22.18 on a warning that its estimates of the increase in traffic volume on its roads in 2005 had been significantly higher than actual traffic increases.

In Europe on Friday the FTSE Eurofirst 300 closed at 1,207.44, a loss of 0.5 percent on the week.

Gains in the oil sector helped the equities market not lose any more than it did by balancing declines in the insurance sector due to fears of a new round of claims expected from victims of Hurricane Rita.

Despite a 2.7 percent decline on Friday due to a downgrade of Rita’s strength, Finnish oil refiner Neste Oil gained 11.5 percent for the week to end at €31.20. Neste reached a record high of €32.19 on Thursday.

In the automobile manufacturing sector, Volkswagen gained 13.1 percent on the week to close at €51.86 on Friday after going as high as €52.53 earlier in the day. Volkswagen’s strength was due partly to positive comment by brokers and partly to rumors that US billionaire Kirk Kerkorian is building a stake in the company much as he has done in General Motors.

In the insurance sector, Munich Re fell 2.5 percent over the week, mainly on rumors that it will soon issue a warning on profits. Elsewhere in the sector, Swiss Re dropped 2.5 percent to SFr81.25, Zurich Financial lost 2.4 percent to SFr217.70, and Axa fell 2.1 percent to €21.84.