German Orders Slip; Arcandor, Safran Up

123jump.com Staff
07 Dec, 2009
New York City

German orders in October fell 2.1% from September and declined 8.5% from a year ago month. Greece led the decliners in region after S&P placed its debt on a watch list. Thales and Safran negotiate to reorganize and swap assets. The retailer, Arcandor AG surges on the improved business outlook.

[R]7:00 PM Frankfurt, Paris; 1:00 PM New York – German orders in October fell 2.1% from September and declined 8.5% from a year ago month. Greece led the decliners in region after S&P placed its debt on a watch list. Thales and Safran negotiate to reorganize and swap assets. The retailer, Arcandor AG surges on the improved business outlook and strong interest from the bidders.[/R]

German manufacturing orders in October decreased 2.1% from September after adjusting for seasonality and inflation swings. The orders declined 8.5% from a year ago month.

In London FTSE 100 Index closed lower 11.70 or 0.22% to 5,310.66, in Paris CAC 40 Index decreased 6.57 or 0.17% to close at 3,840.05, in Frankfurt DAX index lower 32.90 or 0.57% to close at 5,784.75. In Zurich trading SMI decreased 30.55 or 0.47% to close at 6,470.61.

The benchmark stocks in Greece fell the most with a loss of 2% after the rating agency S&P placed the sovereign debt on watch list. The Greek banks fell.

Gainers & Losers

Air Berlin Plc added 1.0% to €3.87 after the discount carrier said November passengers declined 0.1% to 2.151 million from 2.152 million a year ago.

Arcandor AG the retailer surged 23.8% to €0.20 after Bild Am Sonntag reported that the company has returned to profitability and the rest of its 120 Karstadt department stores are likely to remain open. The report also said that twelve bidders have expressed interest in acquiring the company.

BASF SE the chemicals company increased 1.3% to €42.47 and BayWa AG the German agricultural products and building-materials maker fell 0.7% to €25.06.

Carrefour SA the retailer fell 0.5% to €33.60.

Comdirect bank AG the online broker fell 1.6% to €6.22.

Daimler AG the maker of luxury cars rose 1.4% to €36.44 and the automaker said November car sales increased 16.4% to 98,400 and anticipates fourth quarter to rise “significantly” from a year ago.

Deutsche Bank AG fell 0.4% to €49.47 after the lender was downgraded to “sell” from “hold” at Statoil ASA.

Deutsche Telekom AG slipped 0.8% to €10.48 after the telecom company’s chief operating officer Hamid Akhavan resigned to take up a job at Siemens Enterprise Communications according to Reuters.

Energie Baden-Wuerttemberg AG the utility company rose 1.4% to €40.87.

Eramet SA the integrated mining and metallurgical company decreased 1.0% to €224.70.

Montaigne Fashion Group SA, the fashion designer fell 1.9% to €0.50 after the company said it plans to exchange bonds that are due in 2011 to 1.65 million shares.

National Bank of Greece declined 5.6% to 20.21 and EFG Eurobank Ergasias SA droped 6% to 8.80 after Standard & Poor’s placed the nation’s sovereign debt on watch with a view to downgrade.

REpower Systems AG declined 0.1% to €114.50 after the wind turbine builder said that it has signed a delivery agreement, with limited condition precedent, for up to 143.5 megawatt with the American company enXco, an EDF Energies Nouvelles company.

Safran SA added 1.8% to €12.17 after the high-technology company and French defense groups Thales are about to engage in a reorganization and asset swap.

Siemens AG slipped 2.1% to €62.12 after the engineering company was downgraded to “equal-weight” from “over-weight” at Morgan Stanley.

Software AG the software maker dropped 0.9% to €74.92.

Singulus Technologies AG gained 4.9% to €2.55 after the maker of machines that produce compact discs said that it sells 100 % of the shares of the HamaTech APE GmbH & Co. KG including the international subsidiaries to the Suess MicroTec AG. The purchase lifted the stock of Suess 4.3% to €3.65.

SMA Solar Technology AG increased 5.4% to €97.59 after Citigroup lifted its target price to €110 from €82.

Total SA dropped 0.6% to €42.90 after the oil company said Iran has excluded the company from phase 11 of its giant South Pars gas field, a senior Iranian oil official was quoted by the Iranian media.

Volkswagen AG increased 1.3% to 81.42 after the company completed the acquisition of 49.9% stake in Porsche AG for €3.9 billion. The automaker also predicted higher operating earnings in future.

Wendel SA the publicly listed private-equity firm rose 1.3% to €41.99.

DAX Index Movers

MAN SE led the decliners in the DAX index of 1.40%, followed by losses in Deutsche Boerse AG of 1.34%, in K+S AG of 1.34%, in Siemens AG of 1.06%, and in SAP AG of 1.03%.

BASF SE led gainers in the DAX index with a rise of 2.14% followed by increase in Infineon Technologies AG of 2.14%, in Diamler AG of 2.06%, in Adidas AG of 1.78%, and in Henkel AG of 1.05%.

CAC-40 Index Movers

Bouygues SA led the decliners in the CAC-40 index of 1.86%, followed by losses in Credit Agricole SA of 1.73%, in Sanofi-Aventis of 1.58%, in Lagardere SCA of 1.04%, and in Schneider Electric SA of 0.99%. Lafarge

Michelin SCA gainers in the CAC-40 index with a rise of 1.61% followed by gainers in Vallourec SA of 1.48%, in Suez Environnement SA of 1.26%, in Dexia SA of 1.26%, and in Lafarge of 0.98%.

FTSE 100 Index Movers

Of the stocks in the FTSE 100 index, 50 increased, 51 declined and 1 were unchanged.

The Royal Bank of Scotland Group Plc decliners in the FTSE 100 index with a loss of 4.71% followed by losses in Lloyds Banking Group Plc of 4.12%, in British Airways Plc of 2.17%, in Barclays Plc of 2.13%, and in Eurasian Natural Resources Corporation Plc of 2.12%.

Antofagasta Plc led gainers in the FTSE 100 index with a rise of 2.22% followed by increase in Antofagasta Plc of 1.94%, in Bunzl Plc of 1.80%, in BAE Systems Plc of 1.52%, and in Tui Travel Plc of 1.50%.