| CATEGORY: MARKET REPORT - EUROPE SECTOR: AERONAUTICS AND DEFENCE |
European midday: Shares looking for direction |
|
Mon 22 Feb 2010
|
LONDON (SHARECAST) - Europes leading exchanges are trading in a tight range, with investors looking for direction amid the lack of major economic or company news out today.
The Dax in Frankfurt is 13 points lower at 5,709, with the Cac in France down 6 points at 3,763. The Swiss market has dropped 2 points to 6,708.
German airline Lufthansa is one of the biggest fallers in Frankfurt after 4,000 of its pilots began a four-day strike that will lead to the cancellation of hundreds of flights.
Meanwhile, Lufthansa said it has filed for legal action in a bid to halt the walkouts.
British Airways also faces fresh threats of industrial action by its cabin crew when the results of the latest strike ballot are revealed later today.
Shares in TNT were lower after the parcel delivery firm reported a 58% drop in fourth-quarter net profit, dragged down by its mail business, one-off charges and impairments.
The Dutch group saw net profits drop to 25m in the quarter ended 31 December from 59m last year. Revenue rose slightly to 2.95bn compared with 2.93bn previously.
The figures include 21m in impairments, provisions and one-offs for the Express unit and 170m for the Mail unit.
Repsol is in demand after the oil giant was upgraded to neutral from sell by Goldman Sachs.
Telecoms gear group Alcatel-Lucent is leading the risers in Paris after BofA Merrill Lynch put the firm on its list of recommended buys.
CAC 40 - Risers
Alcatel-Lucent (ALU) 2.21 +5.48%
Technip (TEC) 53.99 +2.18%
Societe Generale (GLE) 40.43 +1.84%
BNP Paribas (BNP) 53.70 +1.17%
ST Microelectronics (STM) 6.39 +0.80%
Veolia Environnement (VIE) 24.36 +0.74%
LVMH (MC) 80.08 +0.67%
Alstom (ALO) 47.99 +0.62%
Credit Agricole (ACA) 10.81 +0.56%
GDF Suez (GSZ) 27.68 +0.44%
CAC 40 - Fallers
Carrefour (CA) 34.15 -2.21%
Pernod Ricard (RI) 56.57 -2.04%
AXA (CS) 15.22 -1.20%
Peugeot (UG) 20.42 -1.16%
Air Liquide (AI) 84.55 -1.05%
PPR (PP) 84.50 -1.04%
Vivendi (VIV) 18.51 -0.99%
Accor (AC) 37.01 -0.95%
Renault (RNO) 32.01 -0.85%
Vallourec (VK) 137.10 -0.83%
|
|
| |
|
 |
Front Page Stories |
 |
|
