** EU WRAP **
** HEADLINES **
- German Investor Confidence May Have Fallen for Fourth Month as Oil Soared
- Dollar Slides on Concern Central Banks Are Reducing Holdings of Currency
- Metal Rally May Resume as Sell-Off Fails to Dissuade Investors, Producers
- U.K. House Prices Increased for a Sixth Month in April, RICS Survey Shows
- Crude Oil Posts Biggest Three-Day Drop Since February as Demand May Slow
** IN PLAY TODAY **
- ZEW is due to be released at 11:00 CET (estimate 60);
- European Aeronautic, Defence & Space Co., the parent of planemaker Airbus,
said first-quarter earnings rose a greater-than-expected 26 percent and
predicted higher full- year profit on increased aircraft deliveries.
Net income climbed to 516 million euros ($661 million), or 65
cents a share, from 410 million euros, or 52 cents, a year earlier,
the company said in a statement today. The profit beat analysts’
median estimate of 426 million euros. Sales climbed 30 percent to
9.1 billion euros.
- NYSE Group Inc., which owns the New York Stock Exchange, and Euronext NV, the
owner of five European securities exchanges, may merge to form a company with a
primary listing in the U.S., the Wall Street Journal reported, citing
unidentified people familiar with the matter.
- Vestas Wind Systems A/S, The world’s largest wind-
turbine maker may report a first-quarter pretax loss of 9.8
million kroner, according to a survey of analysts by SME Direkt.
A figure for the year earlier period wasn’t given.
- Deutsche Post AG, Europe’s largest postal service
plans to release first-quarter results. The company will probably
report an 11 percent increase in profit, according to analysts.
- Following the oil slide over the past few days, airliners and chemicals
companies may be among those who benefit as they are among the most sensitive
companies to energy cost.
** UPS & DOWNS **
+ ADECCO RAISED TO `BUY’ FROM `HOLD’ AT CITIGROUP
+ HOCHTIEF RAISED TO `BUY’ FROM `NEUTRAL’ AT UBS
+ XSTRATA PRICE EST. RAISED TO 3000P FROM 2200P AT CITIGROUP
+ RIO TINTO PRICE EST. RAISED TO 4200P VS 3400P AT CITIGROUP
+ BNP PRICE ESTIMATE RAISED TO EU83 FROM EU80 AT CITIGROUP
+ BHP PRICE ESTIMATE RAISED TO 1540P FROM 1200P AT CITIGROUP
+ ANGLO AMERICAN PRICE EST. RAISED 20% TO 3000P AT CITIGROUP
+ AEGON PRICE EST. RAISED TO EU15 FROM EU13.2 AT CREDIT SUISSE
- RWE PRICE ESTIMATE CUT TO EU71 FROM EU76 AT HSBC
- TARGET CUT TO `NEUTRAL’ FROM `BUY’ AT MERRILL LYNCH
- BELGACOM PRICE EST. CUT TO EU27 FROM EU29 AT CREDIT SUISSE