Global Newsbrokers Stockmarket Service
European stockmarkets close at 17:08:01
EUROPEAN MARKETS OFF HIGHS ON WALL ST
Thursday, January 13
A modestly firmer tone persisted on
European stock markets this afternoon,
but prices were dragged off their best
levels by a weaker start on Wall
Street. A firmer crude price was also
negative, but a dip in the euro on
dovish inflation comments from ECB
president Trichet and solid results
last night from Apple were supportive.
EADS held firm in Paris as it forecast
2005 EBIT of over 2.4bn euros compared
with an expected 2.3bn for 2004.
Schneider Electric rose on a strong
operating margin target for 2005-08 of
12.5-14.5 per cent. Arcelor firmed on
news of doubled quarterly profits at
South Korean peer Posco, partly on the
back of higher steel prices. Galeries
Lafayette rose on reports of fresh
stake-building, but Carrefour eased on
profit-taking after yesterday's gains,
while Casino fell on a downgrading.
The CAC-40 index was up 17.97 at
3,834.11.
Wall Street's weaker start kept a lid
on proceedings in Zurich, although the
euro's dip against the dollar provided
some support to the market. The SMI
was up 18.2 at 5,687.8.
It was a similar story in Milan, but
the ECB's decision to leave interest
rates on hold was welcome, even if
expected. The MIBTel index was
trading 196 points firmer at 23,685.
Philips and ASML held firm in
Amsterdam on the back of Apple's
results and rally. Ahold rose as a 3
per cent fall in Q4 sales to 12.3bn
euros was better than expected. IHC
Caland advanced on positive comment,
but financials Aegon, ABN Amro and ING
came under some pressure and kept a
lid on the market. The AEX index was
up 0.99 at 351.09.
Main index