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Tuesday 02nd of December 2008
July 7, 2006

Eurofirst gains 0.2 percent over week


by Elaine Frei

European equities markets saw only small gains over the week as investors worried about what will happen concerning interest rates. The FTSE Eurofirst 300 dropped 0.2 percent on Friday but managed a 0.2 percent gain on the week to close at 1,316.45.

Some sectors did see gains on the week. Air carriers were helped out by a report from EasyJet that it had seen 15.6 percent more passenger traffic in June and predicted good profits growth for the year. Air France-KLM added 0.7 percent during the week to €18.51, while Ryanair was up 8.6 percent to €7.71, also on increased passenger traffic in June. Ryanair reported a 23 percent increase in passenger traffic over the same period last year.

The oil sector was up as well as crude oil prices reached new record highs during the week. Neste Oil was up 0.8 percent on the week to €27.75, while Norsk Hydro added 5.5 percent to NKr174 and Statoil advanced by 6 percent to NKr187.

Aerospace and defense group EADS added 3.2 percent on Friday after its new co-chief executive said that the company’s first priority was to regain investors’ confidence, but it still was down 3.5 percent to €21.7 after Rothschild questioned the valuation of Airbus. EADS owns 80 percent of Airbus.

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