Markets & Finance

On the Move: VW, Carrefour, British Energy


Plus:UBS, Renewable Energy, Telefonica and other European indexes making headlines Tuesday

From Standard & Poor's European MarketScope

United Kingdom

BRITISH LAND was down £0.60 to £16.19. The company posted nine months underlying pretax profit £194 million, +12%; underlying EPS was 32p.

BRITISH ENERGY was down £0.13 to £4.11. Nine months adjusted EBITDA rose to £775 million. It said that for the nine months ended Dec. 31 adjusted EBITDA was £775 million vs. £462 million in the same period for 05.

BRADFORD & BINGLEY was down £0.03 to £4.64. For the fiscal year ended Dec. 31, the company posted underlying pretax profit of £336.1 million, +8%; total DPS 20p, +9%.

France

CARREFOUR was up €1.78 to €48.00.The company said CEO Luc Vandevelde bought €9.9 million of stock, paying €46.4 a share.

SANOFI-AVENTIS (SNY) was down €1.00 to €66.80. The company posted fiscal 2006 net sales of €28.373 billion, +4%. It said that's excluding the impact of generics of four products in the US, sales growth would have been 8.2%.

BOUYGUES was up €1.15 to €54.20. The company reported fiscal 2006 sales of €26.408 billion after Monday's close, up 10% year-over-year, against market expectations of €26.169 billion.

Germany

VW was up €1.02 to €86.15. The VW Law breaks EU law, a court adviser to the European Union's top court said, adding that it hinders the free movement of capital in the bloc. In other news, the company is seeking to return to its roots as the people’s car in the US by cutting prices on two models and launching an advertising blitz to persuade Americans of their affordability.

THYSSEN KRUPP was down €0.02 to €36.37. The company upped revenue and earnings forecasts after reporting record final first quarter results, with quarterly net profit coming in at €661 million. For the full year 2006/07 the company forecasts sales of €48-49 billion and EBT of €2.5 billion.

FRAPORT was up €1.16 to €60.46. January passenger numbers were up 3% at Frankfurt airport to 3.82 million. Freight handled was up 2.6% to 149,221 tons at Europe's third-biggest hub.

Italy

MEDIOLANUM was up €0.21 to €6.61. Shares rallied after UBS raised its target to €7.25 from €7.00, and rated the stock buy. The broker believes that the company's renewed growth has not been fully reflected in its share price.

Netherlands

CRUCELL was down €1.05 to €20.44. While markets expected the company to post its first-ever profit, the company announces quarterly loss per share of €0.41 or a loss of €24.9 for the fourth quarter due to a €33.5 million charge for asset impairment and restructuring.

Nordics

TELIASONERA was down SEK0.25 to SEK56.75. Fourth quarter sales came in at SEK23.200 billion vs. the SEK23.394 billion forecast; EBITDA came in at SEK7.777 billion vs. SEK7.759 billion forecast.

RENEWABLE ENERGY was up NOK4.00 to NOK149.00. Fourth quarter revenues came in at NOK1.32 billion vs. the NOK1.19 billion forecast; EBITDA came in at NOK676 million vs. NOK556 million forecast; pretax profit came in at NOK510 million vs. NOK477 million forecast.

Spain

TELEFONICA (TEF) was down €0.01 to €17.03. Milano Finanza wrote that Benetton's Edizioni Holding may sell 8% of Telecom Italia's (TI) controlling holding, Olimpia, to the company El Pais wrote that the Italian government views the company's possible entry into Telecom Italia with distrust.

Switzerland

UBS (UBS) was down CHF1.35 to CHF78.25. The company reported fourth quarter 2006 net profit of CHF3.407 billion. Total net new money was CHF25.5 billion, with CHF21.7 billion inflow from the wealth management businesses worldwide.

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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