Markets & Finance

On the Move: DSG International, EADS, Continental


Plus: Remy Cointreau, Ericsson, ASML and other European companies making headlines Wednesday

From Standard & Poor's European MarketScope

United Kingdom

DSG INTERNATIONAL was down £0.23 to £1.71. The company said that for the 8 weeks ended Jan. 6 2007 total sales were +14%, like-for-like sales +3%; total UK sales were +4%, like-for-like sales up 3%.

HOME RETAIL was up £0.02 to £4.10. The company said that for the 14 weeks to 6 January 2007 Argos like-for-like sales growth was 0.2%, Homebase like-for-like sales were -2.9%.

France

EADS was down €0.73 to €25.01. The company's CFO reportedly said that the company could ask the AGM for authorization to go to the market in order to raise funds. Airbus reportedly expects to deliver 440-450 planes in 2007 following 434 in 2006.

REMY COINTREAU was up €2.19 to €51.40. Shares gained on speculation that the Diageo distribution joint venture with Moet is close to being terminated, traders said.

SEB was up €13.50 to €126.60. The company reported yesterday after the close fiscal 2006 sales of €2.65 billion, +7.9%. Separately, UBS lifted its target to €115 from €110. It said fiscal year sales were ahead of expectations.

Germany

TUI AG was up €0.47 to €16.56. There was talk of Maersk eyeing Hapag-Lloyd - No details yet.

CONTINENTAL was down €0.57 to €91.08. The CEO is to recommend a higher 2006 dividend as he disclosed that the company reached its sales and EBIT target last year. However, he added that 2007's EBIT margin will be under the previous year's level because of one-off items.

DOUGLAS was down €0.02 to €40.48. Morgan Stanley placed 490k shares at €40.35-40.50 apiece. Earnings-wise, the company's first quarter sales rose 12.8% to more than €1 billion with fiscal 2005/06 pretax profit coming in at about €129 million, up 8.4% year-over-year.

BEIERSDORF was down €0.23 to €48.45. Deutsche placed 25.2 million shares - 10% of the company 's share capital - at between €48 and €50 apiece, reportedly.

Nordics

ERICSSON was down SEK0.20 to SEK29.15. SonyEricsson's fourth quarter pretax profit came in at €502 million vs. Carnegie's forecast of €551 million and the Reuters consensus of €428 million. Revenues came in at €3.78 billion vs. Deutsche's forecast of €3.21 billion and Carnegie's forecast of €3.55 billion.

CARGOTEC was up €4.32 to €47.09. The company set new financial targets; annual net sales growth exceeding 10% (including acquisitions), raising the operating income margin to 10% and gearing below 50%.

SCHIBSTED was up NOK12.00 to NOK260.00. Kaupthing raised its target to NOK300 vs. NOK260 and maintained its buy recommendation.

Netherlands

ASML was up €1.58 to €20.39. The company reported better-than-expected fourth quarter numbers. Quarterly sales came in at €1.1 billion vs. the consensus of €999 million. Gross profit was at €438.6 million vs. expectations of 403 million.

Switzerland

ASCOM was up CHF2.60 to CHF22.60. Shares continued to surge again today, after rising over 13% yesterday, on the back of takeover speculation after Swiss press reports stated that it was Tito Tettamenti who sold a 9.9% stake in the company Neue Zuercher Zeitung reported that Tettamenti, through Sterling Investment Group, sold the stake to an unknown company.

CLARIANT was up CHF0.05 to CHF19.85. There was talk of merger with Germany's Lanxess on trading floors in Germany.

Italy

ALITALIA was up €0.02 to €1.06. Shares edged higher after the company's unions called off a strike planned on Jan. 19.

Spain

IBERIA was up €0.08 to €3.04. The company reportedly said it will open new routes to Boston and Washington DC if it is able to reach a deal with its pilots union.

FERROVIAL was up €0.10 to €72.25. The company expects turnover of about €12 billion in 2006, implying a 33% increase year-over-year, reported Europa Press.

Rocio Opazo-Aniotz, Claudia Perotti, Michael Sanderson, Emma Stevenson, Mariella Mongio, Pawan Girglani, Guarav Panchal, Julien Manrique, Isabell Witt, Sara Oscarsson, Ben Marino, John West

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