Markets & Finance

On the Move: Infineon, Sanofi, Sainsbury


Plus:Nestle, Gamesa, ABN Amro and other European companies making headlines Friday

From Standard & Poor's European MarketScope

UK

SAINSBURY was down £0.05 to £5.11. Allan Leighton, chairman of the Royal Mail and former Asda boss, is ready to take control of the company in the event of a takeover bid, The Guardian reported. Leighton is unwilling to get involved if the price required to buy the company is more than £5.50/sh, the paper added.

ROLLS-ROYCE was up £0.15 to £5.03. JP Morgan upped its target to £4.25 from £4.00, and kept its underweight rating following fiscal 2006 figures.

Germany

DAIMLERCHRYSLER (DCX) was up €1.55 to €49.55. The company offloaded EADS stock to a consortium of investors, reducing its shares in the aerospace and defense group to 15% from 22.5%, as planned.

INFINEON (IFX) was down €0.16 to €12.00. The company will reportedly supply Mastercard (MA ) with payment chips. On the broker front, ABN Amro lifted its target to € 14.50 from €13.00, reiterating its buy rating.

Italy

STMICRO (STM) was up €0.15 to €14.72. TSMC's sales were down 20% in January - the world's No. 1 contract chip maker said. Analysts reckon the reason for the slide is customers clearing out unwanted stockpiles.

CAPITALIA was up €0.09 to €7.10. Dresdner believes that Santander is not planning to take over the company: it thinks the company is too big and too expensive for Santander's taste.

Netherlands

ABN AMRO (ABN) was up €0.33 to €25.29. Finanza & Mercati wrote that once again rumors are circulating that Unicredito might be studying the possibility of an aggregation with the company.

ENDEMOL was up €1.08 to €21.53. The FT wrote that near to the company's EGM next week, Telefonica (TEF) is set to announce formally the sale of its stake in the company. It mentioned John de Mol as a potential buyer as well as a large number of private equity groups.

Nordics

MOELLER MAERSK was up DKK3100.00 to DKK62500.00. UBS upgraded the company to buy vs. reduce. The broker raised its target to DKK71,000 vs. DKK42,000. It believes strong volume in Europe will reduce capacity in 2007, which the broker argued will lead to rate rises.

VESTAS WIND was up DKK27.00 to DKK291.00. The company raised its revenue forecast for fiscal 2006 to € 3.85 billion vs. €3.70 billion previously estimated and sees EBIT margin at 5.2% vs. the 5.0% previously estimated.

Spain

GAMESA was up €0.80 to €23.06. The company's peer Vestas raised its revenue forecast for fiscal 2006 to DKK3.85 billion vs. DKK3.70 billion previously estimated and sees the EBIT margin at 5.2% vs. 5.0% previously estimated.

METROVACESA was down €1.05 to €118.65. The Sanahuja family - owner of a 39.6% stake in the company - is considering launching an offer for 100% of the group, reported Cinco Dias.

Switzerland

NESTLE was up CHF12.50 to CHF466.50. Morgan Stanley lifted its target to CHF520 from CHF450 to reflect more positive assumptions on cash flow generation and the development of the group's return profile.

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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