PARIS (Thomson Financial) - Shares are expected to open higher this morning, after Friday's late recovery in the US markets, with luxury cosmetics group Clarins expected to be in focus amid reports of acquisition interest from PPR.
On Friday, the CAC-40 index finished down 37.50 points or 0.67 pct at 5,523.63.
On the Matif, December CAC-40 futures were trading at 5,554.50 ahead of the official opening, and the euro was quoted at 1.4648 usd compared to 1.4634 usd late Friday.
FORTHCOMING EVENTS
TODAY
-Nil
TOMORROW
-Air France-KLM H1 2007-08 results (before market)
-Carrefour analyst seminar
TODAY'S PRESS
-EADS planning acquisitions in the US to reduce exposure to weaker dollar (Financial Times cites comments from chief executive Louis Gallois)
-India's UTI Mutual Fund is in talks with France's Societe Generale Asset Management (SGAM) for managing its funds globally (Indian daily Business Standard)
- Groupe Eurotunnel SA will beat its full-year guidance of 370 mln eur operating profit, helped by fees it receives from the operators of the Eurostar train connecting Paris with London (German newspaper Handelsblat cites comments from chief executive Jacques Gounon)
-RWE ahead of Gaz de France in talks to become sixth Nabucco partner (Handelsblatt cites spokesman for Turkish energy ministry)
WEEKEND PRESS
-Eramet chairman Patrick Buffet says continental Europe needs to keep control of certain mining assets and maintain strong positions in non-ferrous metals that are vital for the manufacture of good quality steel (interview in Investir)
-Renault subsidiary Renault Samsung Motors to begin production of new Koleos 4X4 in South Korea on Monday (weekend edition of Le Monde)
-France's finance ministry estimates cost of five days of strikes so far this year at 2 bln eur (weekend edition of Le Figaro)
-LVMH's Louis Vuitton wins 80,000 eur in damages and the banning of a Britney Spears video which uses unauthorised close-up shot of Louis Vuitton fabric (Le Figaro)
-French budget minister Eric Woerth says 2008 reserves have been increased to 7 bln eur from 5.6 bln eur; says an adjustment of the 2008 budget in light of rising oil prices is 'not justified' (interview in Le Journal des Finances)
COMPANY NEWS
-Groupe Steria expands convertible bond offer to 152.45 mln eur
-Sodexho Alliance wins contract to provide childcare vouchers for UK Defence Ministry service personnel and reservists; to launch program on Dec 10
-Michelin CFO Jean-Dominique Senard says rise in price of raw materials will 'have an impact' in 2008 on the group's results, although it is 'a little early' to say how much this will be
-Air France says planned strike tomorrow by the company's CGT union will have 'no impact' on traffic that day
-France Telecom chief executive Didier Lombard gave upbeat assessment of group's position in Spain 7th Annual Technology, Media & Telecoms Conference Friday; estimates that recent acquisition of Ya.com has raised share of the ADSL market to 18 pct from 12 pct
-ADP Oct traffic up 0.8 pct yr-on-yr, dampened by Air France strike
MARKET SENTIMENT
-ADP raised to 'hold' vs 'sell' at Citigroup, target 82 eur vs 76 eur tfn.paris@thomson.com vb/sal COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2007 AFX News
