German Confidence Index Down; Markets Weak

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

German investor confidence declined in December, its third monthly decrease in a row. Deutsche Bank estimated record profit in 2011. BNP Paribas completed the sales of $1 billion senior notes. Tui AG full year sales fell 14%.

[R]7:00 PM Frankfurt, Paris; 1:00 PM New York – German investor confidence declined in December, its third monthly decrease in a row. Deutsche Bank estimated record profit in 2011. BNP Paribas completed the sales of $1 billion senior notes. Tui AG full year sales fell 14%.[/R]

German investors’ confidence declined in December, the third decline in a row. The survey conducted by the ZEW Center for European Economic Research decreased to 50.4 from 51.1 in November.

In London FTSE 100 Index closed lower 29.57 or 0.56% to 5,285.77, in Paris CAC 40 Index increased 3.65 or 0.10% to close at 3,834.09, in Frankfurt DAX index higher 9.08 or 0.16% to close at 5,811.34. In Zurich trading SMI increased 6.31 or 0.10% to close at 6,439.40.

Gainers & Losers

ArcelorMittal advanced 1.2% to €28.90 after the steelmaker was upgraded to “buy” from “neutral” by analysts at UBS AG.

BNP Paribas SA dropped 0.5% to €54.48 and the bank completed the sale of $1 billion in three years senior notes.

Carl Zeiss Meditec AG the maker of medical lasers dropped 1.3% to €11.84.

Deutsche Bank AG dropped 1.0% to €48.90 after the bank was upgraded to “buy” from “hold” at Wells Fargo. The bank yesterday said that it estimates pre-tax earnings to increase as much as €10 billion in 2011.

Deutsche Telekom AG declined 0.1% to €10.26.

Electricite de Strasbourg SA climbed 0.6% to €40.49 after the electric utility issued the 26,695,572 new shares for €35.13 per share representing 1.47% of its capital which will be traded on Euronext Paris from December 17, 2009 and will bear interest immediately and will have the same rights as the ordinary shares in circulation.

Exel Industries SA fell 4.2% to €24.60.

Fielmann AG climbed 1.0% to €52.31 after the chain of optical stores was raised to “buy” from “neutral” at Bank of America Merrill Lynch Global Research.

GDF Suez SA the natural gas and electricity supplier fell 0.1% to €29.06.

Henkel AG & Co fell 0.5% to €36.33 after the consumer products group said on Monday it had no responsibility for a €90 million ($132 million) Formula One sponsorship contract signed by a former employee without the company''s authorization.

Isra Vision AG dropped 1.6% to €13.15 said that in November 2009; it has acquired a 24% minority interest in the Turkish company Vistek, a spin-off of the Sabanci University.

JCDecaux SA rose 0.9% to €15.76 after the seller of outdoor advertising said that its subsidiary JCDecaux Airport recently won the advertising concession contract for Nice Côte d`Azur airport.

Lafuma SA the maker of hiking and outdoor gear rose 2.3% to €11.07.

Suez Environnement SA rose 0.8% to €16.41 after the water company was upgraded to “buy” from “neutral” at Bank of America.

TUI AG added 0.8% to €5.29 after the travel and shipping company said full-year sales fell 13.8% to €13.1 billion from €15.2 billion a year ago. Net profit in the full-year rose 889% to €333.3 million or €1.25 per diluted share compared to net profit of €33.7 million or €0.07 per share a year ago.

Valeo SA added 1.7% to €22.56 after the auto-parts supplier Tuesday said it now sees fourth quarter sales rising 17% from a year ago, boosted by car scrapping incentives in Europe and a strong recovery in automotive production in emerging markets.

DAX Index Movers

Linde AG led the decliners in the DAX index of 1.44%, followed by losses in K+S AG of 1.06%, in Volkswagen AG of 1.00%, in Allianz SE of 0.86%, and in Siemens AG of 0.63%.

Infineon Technologies AG led gainers in the DAX index with a rise of 1.63% followed by increase in Beiersdorf AG of 1.57%, in MAN SE of 1.47%, in Adidas AG of 1.33%, and in Diamler AG of 0.94%.

CAC-40 Index Movers

GDF Suez SA led the decliners in the CAC-40 index of 2.66%, followed by losses in Societe Generale SA of 2.04%, in Dexia SA of 1.62%, in Accor SA of 1.05%, and in Compagnie de Saint-Gobain SA of 0.93%.

ArcelorMittal gainers in the CAC-40 index with a rise of 2.96% followed by gainers in Suez Environnement SA of 2.30%, in LVMH SA of 1.87%, in Electricite de Strasbourg SA of 1.70%, and in Vallourec SA of 1.04%.