Eurofirst up after four days of losses
by Elaine Frei
Advances in technology stocks and the banking sector took the FTSE Eurofirst 300 up by 2.2 percent on Wednesday to 1,299.19. It was the first day of gains after four consecutive days of losses for the 300.
In Italy, Banca Monte dei Paschi di Siena was 4.4 percent higher to €4.54 as new rumors circulated that Sanpaolo IMI might be interested in offering. Sanpaolo added 2.8 percent to €13.68. Nordea added 5.5 percent to SKr85.75 after it released a more positive quarterly report than had been expected. Credit Agricole was up 5.6 percent to €30.15 on the possibility that it would be the only bidder for Emporiki Bank of Greece, which dropped 3.7 percent to €25. Bank of Cyprus was rumored to be considering pulling out of the bidding over difficulties involving pension costs; it added 8.8 percent on the session to €7.14.
Among telecommunications companies, Nokia was 5.4 percent higher to €15.56 on an upgrade by Lehman Brothers, from “equal weight” to “overweight”, ahead of its quarterly report, due later in the day. Meanwhile, Ericsson gained 6.9 percent to SKr23.20 on news that it has secured a contract to build a GSM network for Brazilian telecom Vivo.
In the semiconductor sector, Infineon was up 3.2 percent to €8.73, while STMicroelectronics gained 4.9 percent to €12.35 and ASML advanced by 6.4 percent to €15.80 on record net profits in the second quarter.
Discuss this in the Finance Markets forums
Story link: Eurofirst up after four days of losses
Add to Bookmarks:
Related financial stories to: Eurofirst up after four days of losses
- Cars, oil fuel Eurofirst losses
- London markets see losses
- Eurofirst slightly lower
- German investor sentiment sends Eurofirst lower
- Banks lead Eurofirst higher
- Brits only to survive 11 days if made redundant
- Eurofirst up slightly on banks, insurance
- Cars drive Eurofirst higher
- Eurofirst adds 2 percent on week
- Eurofirst slightly higher
Previous: « Crude oil inventories up in the US
Next: Nikkei gains slightly in Tokyo »
Visited 267 times, 1 so far today
