LONDON (AFX) - European markets midday
LONDON (AFX) - Leading shares traded lower at midday with Wall Street expected to open in the red on caution ahead of key US oil inventories data, with disappointing earnings news from Reuters, Centrica and Rentokil impacting the blue chips, dealers said.
At 12.08 pm, the FTSE 100 was down 25.9 points at 5,846.5, with the broader indices down.
FRANKFURT (AFX) - Shares were slightly lower in midday trade after yesterday's more than 1 pct gain, as US stock futures pointed to an uninspiring opening on Wall Street and as utility giant RWE fell sharply after its 2005 net profit, outlook and dividend disappointed investors, dealers said.
At 11.47 am, the DAX 30 index was 6.63 points or 0.11 pct lower at 5,855.43, having moved between 5,851.12-5,884.22 so far this session.
The MDAX was at 8,304.76, up 13.01 points or 0.16 pct, while the TecDAX was at 738.96, up 3.22 points or 0.44 pct.
PARIS (AFX) - Paris shares were slightly lower midday, as the market corrected after an initial surge this morning on the back of overnight strength on Wall Street and prospects of consolidation in the utilities sector.
At 12.01 pm, the CAC-40 index was down 9.63 points or 0.19 pct at 5,031.97. There were 20 decliners, 19 gainers, while Sanofi-Aventis was unchanged among the CAC-40 shares. Volume was 1.98 bln eur.
AMSTERDAM (AFX) - Share prices were slightly lower in early afternoon trade, led by Numico after a disappointing outlook for 2006, ahead of an expected lower start of trading on Wall Street later today, dealers said.
MILAN - Share prices were slightly lower at midsession led by losses in Snam RG, ahead of its full-year results, and in other utilities, while Mediaset outperformed on positive comments on last year's results, dealers said.
At 1.02 pm, the Mibtel index fell 0.36 pct to 28,869 points and the S&P/Mib was down 0.43 pct at 37,914.
MADRID (AFX) - Share prices were lower in moderate midday trade, with profit-taking in energy stocks weighing on the broad market, while Cintra outperformed on robust full-year to December results and news of a 1-for-20 bonus issue, dealers said.
At 12.15 pm, the IBEX-35 index dropped 21.5 points to 11,733.8, after trading in a range of 11,708-11,785, on turnover of 1.2 bln eur.
ZURICH (AFX) - Share prices were slightly lower midmorning as investors lock in recent profits and wait for fresh direction from Wall Street after yesterday's gains, with heavyweight Nestle dragging after a mixed bag of results. Holcim was up after strong results from French peer Lafarge.
At 11.16 am, the SMI was down 11.68 points at 8,028.83 and the SPI was down 5.21 at 6,100.34.
STOCKHOLM (AFX) - Shares were slightly higher in midday trade led by Atlas Copco after the company's CEO suggested the 30 bln skr proceeds of its intended divestment of its Rental business could be handed back to shareholders, brokers said.
At 12.55 pm the OMX Stockholm index was up 0.39 pct at 320.83 and the OMX Stockholm 30 up 0.34 pct at 1,004.51. Turnover was 8.669 bln skr.
Top stories
PARIS (AFX) - Pierre Gadonneix, chief executive of Electricite de France (EDF), said he is not discussing any joint bid for Suez SA with Italy's Enel, which has said it is looking at a takeover offer for the company.
PARIS (AFX) - Veolia Environnement SA ruled out a bid for Suez SA, its rival French utilities group, following speculation that Veolia could team up with Italy's Enel SpA for a takeover attempt of the company.
The company said this morning that it 'has no plan to participate directly or indirectly in a tender offer for Suez.'
ESSEN, Germany (AFX) - RWE AG chief executive Harry Roels declined to comment on a report in Italy's MF newspaper that Enel SpA contacted the German utility in order to arrange a joint bid for Suez.
MILAN (AFX) - The French prime minister Dominique de Villepin told his Italian counterpart Silvio Berlusconi that a bid by Enel SpA on Suez has to be considered as a hostile move towards France, the daily La Stampa said without giving a source.
De Villepin phoned Berlusconi two days ago, when the first rumours emerged regarding Enel's interest for Suez's Belgian electricity unit Electrabel.
Berlusconi confirmed that the government is in talks with the French government regarding Enel SpA's interest in Suez and that he had a telephone conversation with his French counterpart de Villepin, but did not comment on details.
MADRID (AFX) - Gas Natural SDG SA is looking for a partner to enable the gas company to improve its 21.3 eur per share cash and stock offer for Endesa SA, Cinco Dias reported, citing unnamed sources close to Gas Natural.
Tuesday, E.ON AG launched a 27.50 eur per share all-cash counter bid for Endesa.
ZURICH (AFX) - Nestle AG said its full year organic sales growth was 6.2 pct, significantly better than the average analyst forecast of 5.7 pct and beating its own 5-6 pct target, helped by a foreign currency tailwind for the first time in 5 years.
Real internal growth (RIG) was 4.2 pct, beating consensus of 3.8 pct, while reported sales rose 7.5 pct to 91.1 bln sfr.
Looking ahead the Swiss group reiterated its 2006 guidance of organic sales growth of 5-6 pct and an improved EBITA margin at constant currencies. It said it is 'generally rather positive' about the economic climate.
PARIS (AFX) - Lafarge SA said full year operating profit was 2.357 bln eur, up 7 pct on the year and up 4 pct at constant scope and currency, and beating analysts' forecasts of up to 2.34 bln.
Net profit was 1.096 bln eur, up 5 pct on the year.
Sales were 15.969 bln eur, up 11 pct.
LONDON (AFX) - Reuters Group PLC reported a 2.5 pct rise in full-year trading profit, ending four years of revenue decline, but the outlook from the news and financial data company disappointed investors and its shares fell sharply.
The group, which was badly hit by the downturn in financial markets earlier in the decade but returned to growth in mid-2005, said trading profit rose to 334 mln stg from 326 mln a year earlier.
LONDON (AFX) - British services group Rentokil Initial PLC reported a 17 pct decline in underlying 2005 profit, towards the lower end of expectations, after boosting investment in an effort to revive sales growth.
Rentokil said while its turnaround plans remain on track, there is unlikely to be any recovery in underlying profitability until the second half of this year given challenging market conditions in Europe and the UK.
Profit before tax, goodwill amortisation and exceptionals fell to 252.9 mln stg at constant exchange rates from 304.6 mln. On that basis financial analysts had forecast profit of between 250-260 mln stg.
PARIS (AFX) - Thomson SA posted a full year net loss of 573 mln eur but said core business EBIT was 505 mln eur, with the 9.3 pct margin slightly exceeding guidance of at least 9 pct.
The loss was attributed to a loss of 749 mln eur from discontinued operations.
The company set targets for 2006 sales growth and EBIT margin at above 8.5 pct for both.
It also plans a dividend rise to 0.30 eur per share from 0.285 eur.
MUNICH (AFX) - The Ifo Institute said its business climate index rose to 103.3 in February from a revised 101.8 in January, its highest level in more than 14 years, beating the 101.7 forecast of economists polled by AFX News.
The index reached its highest level since October 1991, when it stood at 103.5
The February business assessment index rose to 101.9 from a revised 99.7, exceeding analysts' forecasts of 100.3, while the business expectations index increased to 104.8 from a revised 103.8, also beating the consensus forecast of 102.4. newsdesk@afxnews.com lam/ra COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content,inculding by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
LONDON (AFX) - Leading shares traded lower at midday with Wall Street expected to open in the red on caution ahead of key US oil inventories data, with disappointing earnings news from Reuters, Centrica and Rentokil impacting the blue chips, dealers said.
At 12.08 pm, the FTSE 100 was down 25.9 points at 5,846.5, with the broader indices down.
FRANKFURT (AFX) - Shares were slightly lower in midday trade after yesterday's more than 1 pct gain, as US stock futures pointed to an uninspiring opening on Wall Street and as utility giant RWE fell sharply after its 2005 net profit, outlook and dividend disappointed investors, dealers said.
At 11.47 am, the DAX 30 index was 6.63 points or 0.11 pct lower at 5,855.43, having moved between 5,851.12-5,884.22 so far this session.
The MDAX was at 8,304.76, up 13.01 points or 0.16 pct, while the TecDAX was at 738.96, up 3.22 points or 0.44 pct.
PARIS (AFX) - Paris shares were slightly lower midday, as the market corrected after an initial surge this morning on the back of overnight strength on Wall Street and prospects of consolidation in the utilities sector.
At 12.01 pm, the CAC-40 index was down 9.63 points or 0.19 pct at 5,031.97. There were 20 decliners, 19 gainers, while Sanofi-Aventis was unchanged among the CAC-40 shares. Volume was 1.98 bln eur.
AMSTERDAM (AFX) - Share prices were slightly lower in early afternoon trade, led by Numico after a disappointing outlook for 2006, ahead of an expected lower start of trading on Wall Street later today, dealers said.
MILAN - Share prices were slightly lower at midsession led by losses in Snam RG, ahead of its full-year results, and in other utilities, while Mediaset outperformed on positive comments on last year's results, dealers said.
At 1.02 pm, the Mibtel index fell 0.36 pct to 28,869 points and the S&P/Mib was down 0.43 pct at 37,914.
MADRID (AFX) - Share prices were lower in moderate midday trade, with profit-taking in energy stocks weighing on the broad market, while Cintra outperformed on robust full-year to December results and news of a 1-for-20 bonus issue, dealers said.
At 12.15 pm, the IBEX-35 index dropped 21.5 points to 11,733.8, after trading in a range of 11,708-11,785, on turnover of 1.2 bln eur.
ZURICH (AFX) - Share prices were slightly lower midmorning as investors lock in recent profits and wait for fresh direction from Wall Street after yesterday's gains, with heavyweight Nestle dragging after a mixed bag of results. Holcim was up after strong results from French peer Lafarge.
At 11.16 am, the SMI was down 11.68 points at 8,028.83 and the SPI was down 5.21 at 6,100.34.
STOCKHOLM (AFX) - Shares were slightly higher in midday trade led by Atlas Copco after the company's CEO suggested the 30 bln skr proceeds of its intended divestment of its Rental business could be handed back to shareholders, brokers said.
At 12.55 pm the OMX Stockholm index was up 0.39 pct at 320.83 and the OMX Stockholm 30 up 0.34 pct at 1,004.51. Turnover was 8.669 bln skr.
Top stories
PARIS (AFX) - Pierre Gadonneix, chief executive of Electricite de France (EDF), said he is not discussing any joint bid for Suez SA with Italy's Enel, which has said it is looking at a takeover offer for the company.
PARIS (AFX) - Veolia Environnement SA ruled out a bid for Suez SA, its rival French utilities group, following speculation that Veolia could team up with Italy's Enel SpA for a takeover attempt of the company.
The company said this morning that it 'has no plan to participate directly or indirectly in a tender offer for Suez.'
ESSEN, Germany (AFX) - RWE AG chief executive Harry Roels declined to comment on a report in Italy's MF newspaper that Enel SpA contacted the German utility in order to arrange a joint bid for Suez.
MILAN (AFX) - The French prime minister Dominique de Villepin told his Italian counterpart Silvio Berlusconi that a bid by Enel SpA on Suez has to be considered as a hostile move towards France, the daily La Stampa said without giving a source.
De Villepin phoned Berlusconi two days ago, when the first rumours emerged regarding Enel's interest for Suez's Belgian electricity unit Electrabel.
Berlusconi confirmed that the government is in talks with the French government regarding Enel SpA's interest in Suez and that he had a telephone conversation with his French counterpart de Villepin, but did not comment on details.
MADRID (AFX) - Gas Natural SDG SA is looking for a partner to enable the gas company to improve its 21.3 eur per share cash and stock offer for Endesa SA, Cinco Dias reported, citing unnamed sources close to Gas Natural.
Tuesday, E.ON AG launched a 27.50 eur per share all-cash counter bid for Endesa.
ZURICH (AFX) - Nestle AG said its full year organic sales growth was 6.2 pct, significantly better than the average analyst forecast of 5.7 pct and beating its own 5-6 pct target, helped by a foreign currency tailwind for the first time in 5 years.
Real internal growth (RIG) was 4.2 pct, beating consensus of 3.8 pct, while reported sales rose 7.5 pct to 91.1 bln sfr.
Looking ahead the Swiss group reiterated its 2006 guidance of organic sales growth of 5-6 pct and an improved EBITA margin at constant currencies. It said it is 'generally rather positive' about the economic climate.
PARIS (AFX) - Lafarge SA said full year operating profit was 2.357 bln eur, up 7 pct on the year and up 4 pct at constant scope and currency, and beating analysts' forecasts of up to 2.34 bln.
Net profit was 1.096 bln eur, up 5 pct on the year.
Sales were 15.969 bln eur, up 11 pct.
LONDON (AFX) - Reuters Group PLC reported a 2.5 pct rise in full-year trading profit, ending four years of revenue decline, but the outlook from the news and financial data company disappointed investors and its shares fell sharply.
The group, which was badly hit by the downturn in financial markets earlier in the decade but returned to growth in mid-2005, said trading profit rose to 334 mln stg from 326 mln a year earlier.
LONDON (AFX) - British services group Rentokil Initial PLC reported a 17 pct decline in underlying 2005 profit, towards the lower end of expectations, after boosting investment in an effort to revive sales growth.
Rentokil said while its turnaround plans remain on track, there is unlikely to be any recovery in underlying profitability until the second half of this year given challenging market conditions in Europe and the UK.
Profit before tax, goodwill amortisation and exceptionals fell to 252.9 mln stg at constant exchange rates from 304.6 mln. On that basis financial analysts had forecast profit of between 250-260 mln stg.
PARIS (AFX) - Thomson SA posted a full year net loss of 573 mln eur but said core business EBIT was 505 mln eur, with the 9.3 pct margin slightly exceeding guidance of at least 9 pct.
The loss was attributed to a loss of 749 mln eur from discontinued operations.
The company set targets for 2006 sales growth and EBIT margin at above 8.5 pct for both.
It also plans a dividend rise to 0.30 eur per share from 0.285 eur.
MUNICH (AFX) - The Ifo Institute said its business climate index rose to 103.3 in February from a revised 101.8 in January, its highest level in more than 14 years, beating the 101.7 forecast of economists polled by AFX News.
The index reached its highest level since October 1991, when it stood at 103.5
The February business assessment index rose to 101.9 from a revised 99.7, exceeding analysts' forecasts of 100.3, while the business expectations index increased to 104.8 from a revised 103.8, also beating the consensus forecast of 102.4. newsdesk@afxnews.com lam/ra COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content,inculding by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
© 2006 AFX News
