Finance Markets

January 19, 2007

European construction sector sees gains

Permalink: European construction sector sees gains

Filed under: Equities, Economy, Europe

The FTSE Eurofirst 300 closed at its highest level in six years when it added 0.6 percent on Friday to end the session at 1,519.81.

The week saw big gains in more than one sector. Deutsche Borse added 10.4 percent on the week to a record share price of €164.30, with one analyst saying that estimates of the stock exchange operator’s earnings growth for the year, at 10 percent, were conservative.

In the construction sector, consolidation possibilities brought big advances. The news that holding company Artemis had purchased a 5.1 percent stake in French company Vinci sent Vinci’s shares 8.4 percent higher to €104.90. In Spain, meanwhile, Sacyr-Vallehermoso added 10.2 percent to €48.32.

Deutsche Post gained 7.2 percent on the week to €23.98 on rumors that a private equity group was looking to buy at least part of the 30.6 percent stake owned by the German government, despite predictions of union and political opposition to such a bid.

In the Swedish banking sector, Nordea added 2.2 percent to SKr110.60 and SEB gained 7.5 percent to SKr237.00 on renewed rumors that the two banks could merge.

On the negative side, EADS dropped 2.7 percent during the week, to €24.39, after the aerospace firm issued its second profits warning in four months. In the French energy sector, Suez was 5.8 percent lower to €38.01 after a withdrawn bid for the company, while Gaz de France dropped 6 percent to €33.73.



Related financial stories:

Australian dollar sees fall as interest rates expected to stay:  The Australian dollar was down Tuesday morning in the European markets, mostly due to the su...

European pharma sees gains on bids news:  ...

European oil sector sees declines:  The FTSE Eurofirst 300 was 0.6 percent lower on Tuesday to 1,477.94 as the oil and steel s...

London markets mixed as aerospace sees gains:  Equities markets in London were mixed on Thursday, with the FTSE 100 dropping 0.1 percent ...

Spanish construction sector down on week:  The FTSE Eurofirst 300 dropped 1.1 percent to 1,472.65 during the week as trade was light ...


Fair Investment Company   Your one stop financial
  site for:
  • Flexible Loans
  • Mortgage Lenders
  • Contents Insurance

  • and
  • Compare Car Insurance

Latest Headlines