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08:49GMT 08Jan2009
Austria's Intercell soars on Crucell takeover news

Shares in Austrian vaccine maker Intercell rise as much as 9 percent to a two-month high of 24.60 euros after Dutch peer Crucell says late on Wednesday it is in talks with U.S. drug maker Wyeth about a takeover. Crucell and Intercell are the main remaining independent vaccine makers in Europe, so the move on Crucell reignites takeover hopes for Intercell, analysts say.

'Industry news always puts the sector into focus, particularly possible takeover candidates,' one analyst says.

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08:47GMT 08Jan2008
Sainsbury hands back gains, no profit upgrade

Shares in J. Sainsbury dip 1.1 percent to 319.25 pence, handing back early gains made after Britain's third-biggest grocer posted third-quarter underlying sales at the top end of forecasts. Analysts blame profit taking after a rise of as much as 20 percent over the past month, as well as disappointment the group is not guiding to higher profits and caution about the future.

'The food retail market is becoming more competitive and the level of promotional activity is increasing; consumers are continuing to trade down, a trend that is likely to accelerate in Sainsbury's southern heartlands,' says Seymour Pierce analyst Freddie George, keeping a 'hold' rating on the shares.

'We are also concerned that the food retailers are likely to underperform in any sector rotation.'

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08:41GMT 08Jan2009
TF1 stock falls as UBS cuts rating to 'neutral'

Shares in French broadcaster TF1 drop 2.2 percent after UBS cuts its rating on the stock to 'neutral' from 'buy'.

'Near term visibility is very limited and we believe advertising momentum could disappoint in the first quarter given volatility/confusion around the introduction of regulatory changes,' UBS analysts write in a note.

'TF1 outperformed the market by 35 percent in the second half of 2008 and was supported by regulatory newsflow which could result in significant longer term benefits. However, there is a risk that the market now focuses on near term macro risks and that regulatory benefits may disappoint until the underlying advertising market stabilises.'

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08:35GMT 08Jan2009
Cintra falls as Texas road plan pulled

Shares in Cintra fall 1.4 percent as traders digested news a $180 billion infrastructure plan in Texas, of which the Spanish motorway concessionary had been tapped to be a significant beneficiary, has been scrapped.

'This is bad news for Cintra,' Banesto Bolsa analysts say, noting the company was planning to invest $6 billion in 14 projects as part of the mega road project until 2010.

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08:14GMT 08Jan2009
European shares fall early on renewed economic fears

European shares fall in early trade, led by heavyweight mining and steel stocks, as economic woes resurface on the back of a record drop in German exports and weak U.S. jobless data.

The FTSEurofirst 300 index of top European shares is down 1.2 percent at 867.22 points after dropping 1.3 percent on Wednesday.

The bleak economic outlook hit shares in raw material producers such as steelmaker ArcelorMittal and mining groups Rio Tinto, Anglo American and BHP Billiton, which drop between 3.5-5.5 percent in early dealings.

J. Sainsbury, Britain's third-biggest supermarket group, rises 1.8 percent, after the company posts third-quarter underlying sales at the top end of forecasts.

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07:10GMT 08Jan2009
European futures point to lower opening

European stocks are seen falling, tracking losses on Wall Street following a sales warning by chip maker Intel Corp and a gloomy jobs report for the U.S. private sector that have renewed fears over the health of the economy.

Investors are keeping a close eye at the escalating conflict in the Middle East. Between three and five rockets were fired from southern Lebanon into northern Israel.

Futures for the DJ Euro Stoxx, for Germany's DAX and for France's CAC are down between 1 percent and 1.4 percent, while financial bookmakers see Britain's FTSE 100 to open 47 points or 1 percent lower.



MAJOR EUROPEAN COMPANIES REPORTING:

J Sainsbury Q3 Trade

Michael Page Q4 Trade



MAJOR U.S. COMPANIES REPORTING:

Interim Q4 Chevron

Q1 Apollo Group

Q3 Great Atlantic & Pacific Tea



MAJOR MACROECONOMIC DATA: (GMT)

0700 DE Trade balance Nov

1000 EZ Business climate Dec

1000 EZ Consumer sentiment Dec

1000 EZ Economic sentiment Dec

1000 EZ GDP revised Q3

1000 EZ industrial sentiment Dec

1000 EZ Services sentiment Dec

1000 EZ Unemployment rate Nov

1100 DE Industrial orders Nov

1200 GB BoE interest rate decision

1330 US Jobless claims w/e

2000 US Consumer credit Nov



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Keywords: MARKETS EUROPE STOCKSNEWS

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