European Markets Subdued; Euro Firm

Mayank Mehta
24 Dec, 2009
New York City

Alcatel-Lucent selected by Kyivstar GSM for All-IP network transformation in Ukraine. The U.S. drug regulator FDA licenses Sanofi-aventis subsidiary''s new influenza vaccine. The benchmark indexes in Paris and London closed near 15 month high and other markets in Europe were closed.

[R]7:00 PM Frankfurt, Paris; 1:00 PM New York – Alcatel-Lucent selected by Kyivstar GSM for All-IP network transformation in Ukraine. The U.S. drug regulator FDA licenses Sanofi-aventis subsidiary''s new influenza vaccine. The benchmark indexes in Paris and London closed near 15 month high and other markets in Europe were closed.[/R]

European markets inched higher in a subdued trading ahead of holiday period. The benchmark indexes in London and Paris closed near 15 month high as resource and energy stocks gained.

The dollar traded sideways.

In London FTSE 100 Index closed higher 30.03 or 0.56% to 5,402.41, in Paris CAC 40 Index increased 1.98 or 0.05% to close at 3,912.73. Markets in Germany, Switzerland, Italy and Sweden were closed.

Gainers & Losers

Aeroports de Paris SA decreased 0.7% to €55.56.

Alcatel Lucent SA declined 0.1% to €2.27 and the company was selected by Kyivstar GSM, the telecommunications operator in Ukraine to build its IP network.

Credit Agricole SA dropped 0.4% to €12.18 and the company with Societe Generale SA will begin operating its asset management arm Amundi from Jan 1.

Euler Hermes SA the trade-credit insurer rose 0.8% to €52.70.

France Telecom S.A fell 0.1% to €17.38.

Sanofi-Aventis slipped 0.4% to €55.39 and the company’s supplemental biologics license application for flu virus vaccine was approved by the U.S. regulators. The new vaccine, for adults 65 years of age and older, will be available to health-care providers for immunizations administered this fall in preparation for the upcoming 2010-2011 influenza season.

Siparex Croissance SCA the venture capital company increased 7.7% to €18.54.

Thomson SA the electronics components and systems maker dropped 3.3% to €0.92 and the company recently completed its restructuring program with creditors and bond holders.

Vranken-Pommery Monopole SA slipped 0.1% to €30.15 after the distributor of champagne said that it has completed the placement of 1.44 million shares offered for €25.00 each.

DAX Index Movers

Financial markets in Germany were closed today.

CAC-40 Index Movers

Compagnie de Saint-Gobain SA led the decliners in the CAC-40 index of 0.98%, followed by losses in Schneider Electric SA of 0.64%, in Lafarge S.A. of 0.56%, in Credit Agricole SA of 0.49%, and in Sanofi-Aventis of 0.43%.

Dexia SA gainers in the CAC-40 index with a rise of 2.18% followed by gainers in Pernod Ricard SA of 1.59%, in Unibail-Rodamco SA of 1.40%, in Cap Gemini SA of 1.14%, and in Lagardere SCA of 1.12%.