News and Document archive source
copyrighted material disclaimer at bottom of page

NewsMinecabal-eliteeuropean-union — Viewing Item


Eu stocks test 20 month highs { March 8 2004 }

Original Source Link: (May no longer be active)
   http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1078381595183&p=1012571727088

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1078381595183&p=1012571727088

European stocks test 20-month highs
By Darryl Thomson
Published: March 8 2004 7:41 | Last Updated: March 8 2004 12:50

Europe's stocks were testing 20-month highs at midday on Monday, with car stocks again showing strength.

The Eurotop 300 rose 0.4 per cent to 1,026.98, a level last seen in July 2002. Frankfurt's Xetra Dax was up 0.6 per cent at 4,151.49 and the Paris Cac-40 lifted 0.5 per cent to 3,780.85. London's FTSE 100 was marginally lower, however, at 4,545.9.

By the close on Friday, the tech-heavy Nasdaq Composite was little changed on the day but up almost 1 per cent for the week, reversing six straight weeks of declines. The S&P 500 was up 0.2 per cent at 1,156.88, putting the broader index up 1 per cent for the week. The Dow Jones Industrial Average was up 0.1 per cent at 10,596.00, up 0.1 per cent for the week.

Greek stocks led the gains, with the benchmark general share index up 1.1 per cent at 2,517.43 after conservatives won the Sunday elections, ending 11 years of socialist government. National Bank of Greece was the biggest riser on the Eurotop 300, up 3.5 per cent to 23.34. See more on Greek election

On the corporate front, news that German new car registrations fell 4 per cent in February year on year did not damp the advance of auto stocks. Peugeot was up 1.7 per cent at 42.79, Renault 1 per cent higher at 58.45 and Volkswagen 1 per cent ahead at 39.46 as it was reported it would announce cost cuts at Tuesday's annual news conference. DaimlerChrysler was 0.7 per cent better at 36.69 and BMW added 1.3 per cent to 36.03.

Eads, the Airbus builder, swung to a larger than expected profit of 152m, but the stock was down 1 per cent at 18.68 as concerns over its dollar exposure remained and the company's guidance was seen as a little disappointing.

The merger chatter surrounding Deutsche Bank was further fuelled by reports that JP Morgan asked the German government whether it would resist a takeover offer for Germany's biggest bank. The German finance ministry later denied it had been approached. Deutsche was fractionally lower at 74.95. Deutsche shares have been strong recently, rallying 9 per cent last Thursday on talk Citibank would bid. The smaller Commerzbank, also seen as vulnerable, added 0.7 per cent to 15.60 and HVB gained 1.5 per cent to 17.61.

Lloyds TSB's annual profits came in ahead of expectations, but the UK banking group decided against a share buyback to allow it flexibility for acquisitions. The bank's decision to raise its dividend to 23.5p reassured investors fearing a cut, while life assurance arm Scottish Widows increased profitability by 13 per cent. LTSB's strategy had been one of organic growth and the bank calmed the market's initial concerns, saying no acquisitions were imminent. After a lively start, the stock fell 2.8 per cent to 442p.

Earnings before interest and tax at Veolia, the French utility, were in line with expectations and the stock added 0.2 per cent to 24.25.

Aventis, facing a hostile takeover from Sanofi-Synthelabo, added 1 per cent to 62.25 as Sanofi chief executive Jean-Francois Dehecq said the mooted "white knight" merger of Aventis with Novartis would be a completely different project to his drug group's offer.





americanizing
blair
brit-2007-terror-plots
constitution
defense
dissent
EU-arab-posturing
expansion
france
germany
icc-hague
italy
july-2005-london-attacks
madrid-attack-march-2004
trade
unification
Barraso defends delay in EU vote
Bomb threat delays french trains
Budget stalled by britain over french farm subsidies
China trade threat to european union
Chirac tells french EU protects against US
Chiracs conservative party humiliating electoral defeat { March 31 2004 }
Cocaine traces at eu parliament { July 15 2005 }
Cocaine use regular at european parliament toilets
Eu announces largest passenger jet from airbus
Eu denies supressing israel poll finding
Eu destroys individual freedom
Eu ends 12 years of libya sanctions
Eu first bosnia { January 1 2003 }
Eu furious over thai government bird flu coverup
Eu gives 125m for darfur peacekeeping { October 22 2004 }
Eu leaders reassure western balkans
Eu opposes death sentence
Eu party crashed by iraq war { April 16 2003 }
Eu phones tapped { March 21 2003 }
Eu president makes nazi comment { July 4 2003 }
Eu pressed release of thailand political leader
Eu says israel violating international law
Eu should lose powers { January 15 2003 }
Eu softens stance against bush sharon agreement { April 18 2004 }
Eu stocks test 20 month highs { March 8 2004 }
Eu supports bolivia government
EU to challenge US on china
Eu to study legality of iraq contract row
EU to test readiness for bird flu pandemic
Euro eu building [jpg]
Europe high court rules against deficit spending
Europe investigates cia abductions in europe { March 13 2005 }
Europe media lashes berlusconi eu presidency { July 1 2003 }
Europe tops US in stock market value { April 2 2007 }
European union dismantles common law
France affords free services { April 22 2002 }
France law jails for certain remarks
France secularising eu
Goldman sachs manager to head italy central bank
Greece asks nato for standby force at olympics
Greece facing massive debt for olympics { June 16 2004 }
Greek olympics scare blamed on home grown terrorists
Internet to be censored by EU
Italian leader acquitted in corruption trial
Italian prime minister investigated over bribery { December 30 2005 }
Italy mafia war in naples
Italy pm takes on eu presidency
Mafia turf war scars naples italy
NATO spy planes whips wmd units guard greece olympics { June 29 2004 }
Neo nazis march commemorating allied bombing
New polish prime minister appointed by paul bremer { May 2 2004 }
Polish president proposes delaying decision on eu voting
Poll israel and us biggest threat world peace
Pressure mounts for italy bank governor resignation { December 17 2005 }
Spain celebrates first possible queen in over 100yrs
Voters punish leaders in EU poll

Files Listed: 56



Correction/submissions

CIA FOIA Archive

National Security
Archives
Support one-state solution for Israel and Palestine Tea Party bumper stickers JFK for Dummies, The Assassination made simple