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Monday 20th of April 2009
August 1, 2005

FTSE Eurofirst 300 reaches 3 year high


by Brian Turner
Mexican economy increases growth on Q1

The FTSE Eurofirst 300 reached its highest level since May 2002 when it ended the day on Monday at 1,180.16, a gain of 0.1 percent.

Advances in the oil and gas sector were key in the day’s advance. Royal Dutch Shell gained 1.5 percent in Amsterdam to stand at €25.75, while OMV was up 2.2 percent to €39.25 and Neste Oil advanced by 0.6 percent to €23.07.

Statoil remained unchanged as it reported second-quarter profits that did not meet expectations, closing at NKr141.

In the automobile manufacturing sector, Volkswagen lost 1.6 percent to €44.03 on differing recommendations from analysts after it released its quarterly profits report on Friday. DaimlerChrysler was up 0.8 percent to €40.43, BMW was up 0.5 percent to €38.97, and Renault gained 1.5 percent to €76.70.

In the banking sector, ABN Amro lost 1.1 percent to €20.39 even though it reported an 11 percent gain in second-quarter net profits, as it warned that second half net profits would be lower than those in the first half.

Erste Bank in Austria gained 1.3 percent to €42.55 on a 41 percent rise in first half net profits and reiterated its projected full-year profits on the strength of strong performance in Eastern Europe.

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Story link: FTSE Eurofirst 300 reaches 3 year high


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