Markets & Finance

Europe Stocks End Mixed


European stock markets finished mixed on Monday.

London's FTSE 100 index was off 16.6 points, or 0.32%, to 5,214.2 on profit taking and uncertainty about the economy.

Among stocks on the move, ITV fell on FT report that said Time Warner, Goldman Sachs, and Apax Partners Worldwide decided against making an offer for the company. HSBC was higher on a FT report saying HSBC and Landesbank Baden-Wuerttemberg Girozentrale are in talks about a possible buyout of their jointly owned HSBC Trinkaus & Burkhard. Cable & Wireless rose on a Sunday Times report that the company has started talks that might lead to takeover offer for smaller rival Energis.

Germany's DAX index rose 6.67 points, or 0.14%, to 4,719.17.

Bayer rose after the company said most European countries have approved its Avelox IV antibiotic to treat complicated skin infections. IWKA fell after hte company said operating profit at its automotive technology and robot divisions will be lower than forecast in 2005. MTU Aero Engines Holding rose as Deutsche Bank initiated coverage with a "buy" recommendation. Pfleiderer rose after agreeing to buy Kunz Gruppe's wood production unit.

In Paris, the CAC 40 index lost 10.3 points, or 0.24%, to 4,363.47.

Financiere Marc de Lacharriere rose after Stanley Works made a $494 million bid for company. Arcelor rose after Morgan Stanley upgraded its steel industry view to "in line" from "cautious." Groupe Steria rose after its CEO said operating profit goal was "realistic."

Asian markets closed higher on Monday. In Japan, the market was closed for the Marine Day holiday.

In Hong Kong, the Hang Seng index rose 62.71 points, or 0.43%, to 14,567 led by gains in property stocks. Sentiment for the sector was boosted by a rise in property sales last week and expectations that interest rates will peak soon, says Standard & Poor's MarketScope. Sino Land surged 7% and New World Development climbed 6%.


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