| CATEGORY: MARKET REPORT - EUROPE SECTOR: BANKING |
European open: Jittery trading continues |
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Tue 09 Feb 2010
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LONDON (SHARECAST) - European shares briefly turned positive in early dealings on Tuesday but have since fallen back again.
Across the markets, the German DAX is down 6 points at 5,479, with the French CAC 13 points lower at 3,594. The Swiss market has gained 2 points to 6,350.
Swiss bank UBS posted its first quarterly profit for more than a year, but client withdrawals continued to rise.
The bank posted a net profit of 1.21bn Swiss francs in the three month ended 31 December, thanks to lower costs and a 480m francs US tax credit. In the same period last year, UBS reported a net loss of 9.58bn francs.
Chief executive Oswald Gruebel said he was confident that the bank's positive performance would continue but added that withdrawals will continue in the immediate future.
Share in UBS are lower but a number of other banking shares are going well. Deutsche Bank is leading the risers in Frankfurt, while French peers BNP Paribas, Societe Generale and Credit Agricole are also in demand.
CAC 40 - Risers
Carrefour (CA) € 35.08 +2.18%
Renault (RNO) € 33.32 +2.10%
Vallourec (VK) € 125.05 +1.79%
BNP Paribas (BNP) € 48.19 +1.56%
Dexia (DEXB) € 4.28 +1.52%
Societe Generale (GLE) € 39.22 +1.07%
Peugeot (UG) € 22.18 +1.05%
Credit Agricole (ACA) € 10.40 +0.97%
ArcelorMittal SA (MT) € 28.22 +0.79%
Technip (TEC) € 49.00 +0.74%
CAC 40 - Fallers
Unibail-Rodamco (UL) € 149.50 -2.99%
Danone (BN) € 40.36 -1.27%
Suez Environnement Company (SEV) € 15.63 -1.17%
Total (FP) € 40.49 -0.97%
Pernod Ricard (RI) € 55.68 -0.91%
Sanofi-Aventis (SAN) € 52.52 -0.87%
PPR (PP) € 82.78 -0.66%
Vinci (DG) € 37.80 -0.66%
GDF Suez (GSZ) € 26.32 -0.62%
Cap Gemini (CAP) € 31.03 -0.59%
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