** EUROPEAN WRAP **
January 31st, 2006| ** EUROPEAN MARKETS ** | ||||||
| S&P future 0,02%; Bund future -0,01%; Crude future 68,38; €/$ 1,2098; Gold 569 | ||||||
** IN PLAY TODAY **
- Noteworthy earnings reports today: Arm Holdings, Ciba Specialty Chemicals, Abn Amro, UPM-Kymmene, Jyske Bank, Elan Corporation & Ericsson.
- Morgan Stanley (Teun Draaisma & Ben Funnell) cut its recommendation yesterday on European stocks from ‘overweight’ to ‘neutral’ as ”People are way too bullish” according to the strategists.
- Abn Amro said Q4 profit was EUR 1296m ahead of the consensus number of EUR
908m but including one-off items of EUR 201m. Private equity & wholesale performing better than expected.
- Ericsson reported a jump in Q4 net profit of 52% to SEK 8.5bn, better than the SEK 7.1bn consensus. Sales rose 16% to SEK 45.7bn (43.9bn expected). Margins were however light and guidance remains pretty vague (moderate growth in 2006).
- Carrefour said it bought four Spanish hypermarkets and two gas stations from
Spanish supermarket operator Caprabo SA for undisclosed terms.
- Gazprom said nine-month profit climbed 66 percent from a year
earlier to 232.1 billion rubles ($8.2 billion), benefiting from
an increase in gas prices.
February 1st, 2007 at 15:27
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