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Tuesday 25th of August 2009
July 21, 2006

Eurofirst adds 1 percent on week


by Elaine Frei

European equity markets saw ups and downs during the week, thanks to the unrest in the Middle East and the continuing string of quarterly reports being issued in various sectors. The FTSE Eurofirst ended the week 1 percent higher than it began, closing on Friday at 1,290.17.

Technology stocks were mixed during the week. Among in the semiconductors sector, Infineon ended the week 0.7 percent lower to €8.32. The German chip manufacturer had been up for most of the week, but ended the week on a low note as it issued a less than pleasing quarterly report. On the other hand, ASML and STMicroelectronics each were 1 percent higher on the week, to €14.76 and €11.77 respectively.

Mobile phone equipment makers Nokia and Ericsson both ended the week higher. Nokia added 4.5 percent to €15.28 despite a disappointing quarterly report, while Ericsson gained 7 percent to SKr22.80 after it was able to win a big contract.

In the electronics sector, Phillips Electronics issued a positive quarterly report early in the week. The good news managed to carry it to an advance of 6.3 percent for the week.

Among pharmaceuticals makers, Roche was up 4 percent during the week to SFr214.80 on good news and broker updates. Bear Stearns increased the drugmaker’s estimate of earnings, while Deutsche Bank upped its target share price from SFr245 to SFr250.

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Story link: Eurofirst adds 1 percent on week


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