Norway Leads European Indexes

Mayank Mehta
31 Dec, 2009
New York City

European markets closed mixed today but close up in the year. The benchmark index in Norway led the region with a rise of 70% and indexes in German gained 25% followed by increase of 22% in France and UK. Toronto judge approved $12 million settlement for Air France accident four years ago.

[R]7:00 PM Frankfurt, Paris; 1:00 PM New York – European markets closed mixed today but close up in the year. The benchmark index in Norway led the region with a rise of 70% and indexes in German gained 25% followed by increase of 22% in France and UK. Toronto judge approved $12 million settlement for Air France accident four years ago.[/R]

European markets in a subdued trading closed mixed with most market advancing in the year after a sharp decline in the first two months in the year. The benchmark indexes in Germany, France and UK recovered most of the losses and closed up between 25% and 22% but still closed sharply lower in the decade.

In London FTSE 100 Index closed higher 15.02 or 0.3% to 5,412.88, in Paris CAC 40 Index increased 0.83 or 0.02% to close at 3,936.33. The Market in Germany and Switzerland were closed today.

Most indexes in Europe are still down for the decade with the FTSE 100 index 22% lower and the DAX index down 15%.

The French index closed up 22% in the year, the largest annual gain since 2005 and the German index closed up 24% yesterday. Norway’s OBX Index surged the most in the region with a rise of 70% on a surge in oil prices.

World markets in 2009 registered their best gains since 2003 as a rally in commodities and more than $11 trillion in stimulus boost investor confidence and arrest economic decline.

Russia leads the world markets with a rise of 126% followed by increase of 83% in Brazil and 80% in China and India.

Gainers & Losers

Air France-KLM added 0.7% to €11.01 and the airline said a judge has approved a $12 million class-action settlement with 184 passengers of an Air France jet that overran a Pearson airport runway during a rainstorm in 2005.

Cafom SA the retailer of home furnishings advanced 6.1% to €9.83 and the company finalized its agreement with BUT to consolidate its purchasing.

Chargeurs SA the distributor of wools and textiles climbed 0.3% to €5.77 after it estimated 2009 loss of €48 million and said it plans to raise €22 million in a rights offering in the next six months.

Sperian Protection SA increased 0.3% to €50.01 after the maker of protection equipment paid $22 million including the interest following a court ruling in St Louis, Missouri.

Vinci SA rose 0.2% to €39.80.

CAC-40 Index Movers

Alstom SA led the decliners in the CAC-40 index of 0.88%, followed by losses in Compagnie de Saint-Gobain SA of 0.81%, in Pernod Ricard SA of 0.78%, in Vinci SA of 0.63%, and in AXA of 0.51%.

EADS NV gainers in the CAC-40 index with a rise of 2.81% followed by gainers in Alcatel Lucent of 2.01%, in STMicroelectronics N.V. of 1.74%, in Unibail-Rodamco SA of 1.45%, and in Dexia SA of 1.25%.

FTSE 100 Index Movers

Of the stocks in the FTSE 100 index, 78 increased, 21 declined and 3 were unchanged.

BT Group Plc decliners in the FTSE 100 index with a loss of 1.60% followed by losses in Compass Group Plc of 1.55%, in United Utilities Group Plc of 1.45%, in The Sage Group Plc of 0.95%, and in SABMiller Plc of 0.71%.

Land Securities Group Plc led gainers in the FTSE 100 index with a rise of 4.26% followed by increase in Hammerson Plc of 3.97%, in Legal & General Group Plc of 3.53%, in Standard Life Plc of 3.49%, and in The British Land Company Plc of 3.25%.