Weekly Gains in European Markets

Mayank Mehta
19 Feb, 2010
New York City

European markets closed higher for the fifth day in a row. Thales declined after it lowered its dividend. Carrefour SA fell after net dropped 74% on higher charges related to store closures. Lafarge declined after full year net dropped 54%.

[R]7:00 PM Frankfurt, Paris; 1:00 PM New York – European markets closed higher for the fifth day in a row. Thales declined after it lowered its dividend. Carrefour SA fell after net dropped 74% on higher charges related to store closures. Lafarge declined after full year net dropped 54%.[/R]

European markets closed higher as the indexes closed up every day and for the week.

In London FTSE 100 Index closed higher 33.08 or 0.62% to 5,358.17, in Paris CAC 40 Index increased 21.75 or 0.58% to close at 3,769.54, in Frankfurt DAX index higher 41.64 or 0.73% to close at 5,722.05. In Zurich trading SMI increased 72.39 or 1.09% to close at 6,709.68.

Fraport AG said in a statement that it has agreed to price increase of 2.9% for four years ending in 2015.

Thales SA declined 2% after the company cut its dividend for the first time in ten years. Carrefour SA declined 2% after it earnings from continuing operations plunged after it closed stores in Italy and renovated stores in Europe.

Gainers & Losers

Alpiq Holding AG the utility company said full-year revenues fell 7.4% to CHF14.82 billion from CHF16.0 billion a year ago. Net profit for the full year fell 7.7% to CHF676 million compared to net profit of CHF732 million a year ago.

Bilfinger Berger AG, Germany based builder fell 2% to €53.10.

Bolsas y Mercados Espanoles SA the operator of stock markets and financial systems said full year revenues fell 10.3% to €316.7 million from €352.9 million a year ago. Net profit for the year fell 21.3% to €150 million compared to net profit of €190.7 million a year ago.

Carrefour SA decreased 1.4% to €35.12 after the retailer said full year revenues fell 1% to €87.4 billion from €88.2 billion a year ago. Net profit for the full-year fell 74% to €327 million compared to net profit of €1.27 billion a year ago.

Corio NV rose 0.3% to €44.01 after the real estate investment trust said full-year net rental income rose 6.1% to €337.0 million from €317.7 million a year ago. Net loss for the full-year was €131.9 million compared to net loss of €239.6 million a year ago.

Daimler AG rose 1.4% to €31.93 after the maker of luxury cars was upgraded to “buy” from “hold” at Hamburger Sparkasse. BMW increased 3.4% after automakers rallied in trading today.

Deutsche Postbank AG fell 0.07% to €22.48 after the financial services provider said full-year net profit was €76 million compared to net loss of €886 million a year ago.

EADS NV rose 0.2% to €14.70 after the company specialized in aerospace, a thorny inflation clause and a shopping list of military gadgets dominated closing stages of talks to rescue the delayed A400M troop plane on Thursday as France held out the prospect of a deal next week.

Lafarge S.A declined 2.8% to €49.38 after the manufacturer of construction material said full-year revenues fell 16% to €15.9 billion from €19.0 billion a year ago. Net profit for the full year fell 54% to €736 million or €2.77 per diluted share compared to net profit of €1.6 billion or €7.19 per share a year ago.

Manz Automation AG soared 6.2% to €61 after it received new orders totaling €25 million and order backlogs increased to €70 million.

Natixis SA the bank rose 0.7% to €3.43.

PageJaunes SA increased 7.5% to 8.29 after it reported full year earnings ahead of market expectations.

Salzgitter AG dropped 0.3% to €65.68 after the steelmaker was upgraded to “hold” from “sell” at NordLB.

Technip rose 1.8% to €53.50 after the oil-services provider was upgraded to “outperform” from “neutral” at Exane BNP.

Thales SA plunged 11.3% to €29.88 after the electronics company said full-year revenues rose 1.6% to €12.9 billion from €12.7 billion a year ago. Net loss for the full-year was €128 million compared to net profit of €650 million a year ago.


DAX Index Movers

RWE AG led the decliners in the DAX index of 0.72%, followed by losses in Allianz SE of 0.62%, in Fresenius Medical Care AG & Co. KGaA of 0.55%, in K+S AG of 0.26%, in BASF SE of 0.02%.

Daimler AG led gainers in the DAX index with a rise of 2.99%, followed by increase in BMW AG of 2.85%, in METRO AG of 2.01%, in MAN SE of 1.98%, and in SAP AG of 1.73%.

CAC-40 Index Movers

Carrefour SA led the decliners in the CAC-40 index of 2.01%, followed by losses in AXA of 1.50%, in Pernod Ricard SA of 0.93%, in Lafarge SA of 0.81%, in Suez Environnement SA of 0.74%.

Vallourec SA gainers in the CAC-40 index with a rise of 2.37%, followed by gainers in Lagardere SCA of 2.13%, in Credit Agricole SA of 2.04%, in Vivendi SA of 2.02% and in Schneider Electric SA of 1.96%.