** EU WRAP **
March 22nd, 2006** EUROPEAN MARKETS **
S&P future -0,18%; Bund future -0,14%; Crude future 62,4; €/$ 1,20945; Gold
552,77
** HEADLINES **
- U.K.’s Brown May Have to Borrow More to Avoid Tax Increase, Survey Shows
- Sanofi, Bristol Myers Shares May Rise on Blood Thinner Plavix Settlement
- Australia’s Wheat Output to Reach 24 Million Tons in 2006-07, USDA Says
- Gold in Asia Rises on Inflation Concern After Gain in U.S. Prices Measure
- Crude Oil Is Little Changed After Rising on Concern Over Gasoline Supply
** IN PLAY TODAY **
- Earnings of note: Unicredito, HVB, TUI, Metro and Enel
- Sanofi-Aventis SA and Bristol-Myers Squibb Co. said they’ve
settled a patent suit that would keep a generic version of their
blood thinner Plavix, the world’s second-biggest drug, off the
market until 2011.
- UBS places 3.5m shares of Business Objects on behalf of Silver Lake and TPG.
- Porsche AG is targeting a sales increase in the Middle East this
fiscal year, helped by the Cayenne sport-utility vehicle.
- Scottish Power Plc said it has completed the sale of its U.S. PacifiCorp
unit to MidAmerican Energy Holdings Co. for $5.1 billion in cash.
- Metro AG, the world’s third-largest retailer, said profit slumped last year
because of a drop in sales at the German company’s Real hypermarkets. Earnings
will rise in 2006 as Metro expands outside its home market.
Net income fell to 501 million euros, or 1.63 euros a share, from 760 million
euros, or 2.53 euros, a share, a year earlier. Earnings per share from
continuing operations will increase 5 percent to 8 percent in 2006, Metro said.