France EURONEXT was up €1.75 to €62.70. Exane BNP-P upped its target assuming there would be a Deutsche Boerse deal to €69, and kept its outperform rating.
JC DECAUX was up €1.89 to €23.27. The company disclosed fiscal year net profit of €195.3 million, +25%; operating profit €299 million, +4%. Numbers were above the market consensus. The company also proposed that it pay its first ever dividend of €0.40, and intends to pay a dividend annually starting in 2006.
GermanySCHERING (SHR) was down €1.14 to €82.61. Traders noted talk that Bayer (BAY) might be interested in making a bid for the company. Separately, the company's supervisory board reportedly supports the management board's decision to reject Merck's (MRK) unsolicited takeover offer as too low. Meanwhile, Union Investment, a key shareholder, would approve the company being taken over by Merck.
BMW was up €0.83 to €42.70. The company saw 2006 pretax profit at €4 billion including one-off gains from the sale of its Rolls Royce shares. It expects adverse currency and raw materials effects to be below €914 million this year.
HUGO BOSS was up €1.85 to €35.55. There was talk of takeover by Valentino, which has a 78% stake in the company.
DEUTSCHE BOERSE was down €0.22 to €113.98. The UK's watchdog accepted the company's moves on LSE subject to specific conditions regarding the London Stock Exchange's clearing services provider.
MAN was up €1.01 to €54.51. The company is to sell its majority stake in MAN Roland to Allianz Capital Partners. It will retain 35% of the joint venture. No financial details were disclosed. Earlier, the company said fiscal 2005 sales were €14.67 billion and it proposes a dividend of €1.35 per share for the year.
Italy ASTALDI was up €0.33 to €5.93. Il Sole 24 Ore reported that the company's CEO is disclosing that the company is considering a potential integration with rival Impregilo.
Prepared by Zaida Espana, Valerie Vidal, Michael Sanderson, Mariella Mongio, Alexander Wisch, Holly Cook, Emma Stevenson, Pawan Girglani, Julien Manrique, and Rocio Opazo-Aniotz (Standard & Poor's); Alex Halperin (BusinessWeek Online)
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