Date: Tuesday 15 Jun 2010
Triple-digit gains in the US on receding sovereign debt concerns brought bourses back to life late Tuesday, ensuring a strong finish for major markets.Banks were in favour throughout the session, although it looked like stocks had given up hope of adding to early gains until Wall Street created a fresh buzz.
Societe Generale led in Paris after the French bank said it is targeting a net profit of around €6bn in 2012.
It is also targeting a core Tier 1 capital ratio above 8% and a return on equity of around 14% to 15% after tax in 2012. In addition it is aiming for annual revenue growth of 4% between 2009 and 2012. BNP Paribas was also wanted.
German Chancellor Angela Merkel and French President Nicolas Sarkozy have renewed their joint campaign for tighter financial regulation and called for a global bank levy and a financial transaction tax.
The two leaders said they would call for the measures in a joint letter to the president of the G20 ahead of a summit later this month.
Across the markets, Frankfurt shrugged off Moody's decision to cut Greece's debt ‘junk’ bond status, ending 50 higher at 6,175. The French exchange gained 35 to end at 3,661, while Zurich added 12 to 6,484.
Philips Electronics was better after Morgan Stanley upgraded the Dutch electronics giant to overweight from equal weight.
On the M&A front, satellite broadcaster BSkyB has rejected a 700p per share offer from News Corporation, the vehicle of media magnate Rupert Murdoch and stated it needs to offer at least 800p per share for any deal to be considered.
In a statement, News Corp, which already owns 39.1% of BSkyB, said it made an initial offer at 675p on 10 June but after a meeting with BSkyB's independent directors, raised its offer to 700p.In economic news, the German ZEW economic expectations index fell to 28.7 in June compared with 45.8 in May.
CAC 40 - Risers
Societe Generale (GLE) € 36.53 +4.24%
BNP Paribas (BNP) € 49.25 +3.68%
ST Microelectronics (STM) € 7.22 +3.22%
Alstom (ALO) € 40.58 +2.00%
Renault (RNO) € 32.07 +1.97%
Vivendi (VIV) € 17.86 +1.91%
Alcatel-Lucent (ALU) € 2.29 +1.87%
France Telecom (FTE) € 15.55 +1.70%
Suez Environnement Company (SEV) € 14.46 +1.47%
EDF (EDF) € 34.96 +1.29%
CAC 40 - Fallers
L'Oreal (OR) € 79.73 -1.02%
LVMH (MC) € 91.21 -0.94%
Air Liquide (AI) € 85.05 -0.53%
Peugeot (UG) € 22.14 -0.27%
Dexia (DEXB) € 3.21 -0.25%
Pernod Ricard (RI) € 65.36 -0.15%
No comments:
Post a Comment