European Markets Gain on U.S. Jobs Data

Mayank Mehta
04 Dec, 2009
New York City

The European markets indexes closed higher after the release of better than expected jobs data in the U.S. Biotest AG gained 4% after it won the EU approval to market its hepatitis drug in the region. Volkswagen receives shareholders approval to issue up to 135 million preferred shares.

[R]7:00 PM Frankfurt, Paris; 1:00 PM New York – The European markets indexes closed higher after the release of better than expected jobs data in the U.S. Biotest AG gained 4% after it won the EU approval to market its hepatitis drug in the region. Volkswagen receives shareholders approval to issue up to 135 million preferred shares.[/R]

In London FTSE 100 Index closed higher 9.36 or 0.18% to 5,322.36, in Paris CAC 40 Index increased 47.51 or 1.25% to close at 3,846.62, in Frankfurt DAX index higher 47.30 or 0.82% to close at 5,817.65. In Zurich trading SMI increased 57.08 or 0.89% to close at 6,501.16.

Gainers & Losers

Aragon AG decreased 0.6% to €8.25 after the financial services broker has increased its stake in inpunkto GmbH, a specialist distributor of health insurance products, from 25.1% to 70%.

Beneteau SA the maker of sailboats added 1.8% to €9.98.

Bilfinger Berger AG the builder declined 1.5% to €50.80.

Biotest AG added 4.3% to €36.31 after the biotechnology company said the European Commission granted marketing approval for the hepatitis B immunoglobulin Zutectra in to all nations in the region.

Hochtief AG the builder climbed 0.7% to €52.32 and the company shelved its plans a day ago for its airport unit IPO.

Korian SA closed unchanged at €17.90 after the retirement-home operator was downgraded to “neutral” from “buy” at UBS AG.

Manz Automation AG dropped 0.1% to €56.92 after the solar-cell machine maker was upgraded to “add” form “hold” at Commerzbank AG.

Merck KGaA fell 1.3% to €63.77 after the European maker of the Erbitux cancer drug has received a refuse-to-file letter from the FDA for its cladribine NDA to treat relapsing forms of multiple sclerosis.

Scor SE the insurer slipped 0.5% to €16.70.

Siemens AG slipped 2.3% to €62.59 after the engineering company said that Nokia Oyj Nokia Siemens Networks has signed a deal with Softbank Mobile in Japan to deploy high speed data transmission network solution.

Total SA dropped 0.6% to €42.36 after the oil producer said is considering laying-off about 10%, or 80, of its employees as part of its restructuring program.

Volkswagen AG rose 0.7% to €81.12 after the carmaker said that shareholders approved a plan to issue maximum of 135 million new non-voting preferred shares.

DAX Index Movers

Siemens AG led the decliners in the DAX index of 1.55%, followed by losses in K+S AG of 0.23%, in Muenchener Rue AG of 0.20%.

Beiersdorf AG led gainers in the DAX index with a rise of 2.12% followed by increase in BMW AG of 2.06%, in Deutsche Lufthansa AG of 1.83%, in Deutsche Post AG of 1.76%, Deutsche Telekom AG of 1.69%.

CAC-40 Index Movers

Technip led the decliners in the CAC-40 index of 1.09%, followed by losses in Lafarge of 0.73%, in Veolia Environnement of 0.70%, in Vallourec SA of 0.43%, Credit Agricole SA of 0.22%.

EADS NV gainers in the CAC-40 index with a rise of 3.86% followed by gainers in GDF Suez of 3.00%, in LVMH SA of 2.74%, in Renault SA of 2.70%, in Suez Environnement SA of 2.58%.