| CATEGORY: MARKET REPORT - EUROPE SECTOR: AUTOMOTIVE AND PARTS |
European open: Carmakers rise |
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Tue 15 Dec 2009
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LONDON (SHARECAST) - European shares opened cautiously higher early on Tuesday with carmakers are on rise after figures showed that new car registrations in Europe soared 27% in November.
BMW, Volkswagen and Daimler are going well in Frankfurt this morning.
Across the markets, the German DAX is up 9 points at 5,812 with the French CAC flat at 3,830. The Swiss market is 10 point higher at 6,440.
Elsewhere, Greece's prime minister late on Monday announced radical spending cuts amid continuing fears over the solvency of the Mediterranean country after ratings agency Fitch downgraded its outlook on the country last week.
The measures included a reduction in defense spending, a drop in bonuses across the public sector, a 10% reduction in social security and government operating expenditure and a 90% tax on private bankers' bonuses.
George Papandreou admitted that his country has lost every trace of credibility and must change or sink.
CAC 40 - Risers
ArcelorMittal SA (MT) 29.05 +1.75%
Suez Environnement Company (SEV) 16.42 +0.92%
EDF (EDF) 40.49 +0.70%
Carrefour (CA) 33.17 +0.65%
L'Oreal (OR) 77.35 +0.65%
Sanofi-Aventis (SAN) 53.21 +0.64%
Michelin (ML) 53.50 +0.64%
Societe Generale (GLE) 49.21 +0.62%
Accor (AC) 38.79 +0.62%
LVMH (MC) 74.90 +0.59%
CAC 40 - Fallers
GDF Suez (GSZ) 29.30 -2.01%
Technip (TEC) 47.71 -0.56%
Total (FP) 43.10 -0.39%
Alstom (ALO) 48.85 -0.22%
Air Liquide (AI) 81.51 -0.20%
France Telecom (FTE) 17.34 -0.17%
Vallourec (VK) 115.15 -0.09%
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