Markets & Finance

On the Move: British Airways, EADS, Scania


Also: HSBC, Endesa, and other European stocks making headlines Monday

United Kingdom

BRITISH AIRWAYS was down £;0.35 to £;4.97. Shares hit turbulence after reports that the European Commission and the US have reached a provisional agreement over the 'open skies' deal, which will open the trans-Atlantic markets.

HSBC was up £;0.10 to £;8.96. The company posted FY net operating income of US$54.793bn, +10%; PTP US$22.086bn, +5% - below the forecast of US$22.4bn; operating income US$70.070bn, +14%.

France

EADS was down €; 0.61 to €; 23.02.The co. is 'highly vulnerable' to strikes since it has full order books and fixed delivery schedules, Focus magazine said, citing co-CEO Tom Enders. In political news, Socialist party Presidential candidate Segolene Royal has proposed a plan whereby the French state would increase its capital in the Co., at the same time maintaining that she would assure 'the stability of private capital'.

AREVA was down €; 34.53 to €; 648.37. The company won €pean antitrust approval to buy Germany's Repower.

Germany

E.ON was down €; 0.09 to €; 96.31. Cinco Dias wrote that the Company is considering improving its bid for Endesa after receiving permission to do so from the CNMV. However, the Co.'s chairman Wulf Bernotat has not yet received clearance from the supervisory board.

HEIDELZEMENT was down €; 1.76 to €; 106.84. The company intends to sell its stake in Vicat by way of a public offering in France and a private placement elsewhere. BNP Paribas and Calyon will act as Joint Bookrunners and Joint Lead Managers of the contemplated offering, which is foreseen to be completed within 2Q07, subject to market conditions.

Nordics

SCANIA was down SEK13.00 to SEK506.00. The company may announce this week that its chairman, Bernd Pischetsrieder, will be replaced by VW's chief executive, the Wall Street Journal reported.

ASTRAZENECA was down SEK1.00 to SEK384.00. Pennsylvania sued the co. and Johnson & Johnson over claims that they fraudulently marketed antipsychotic drugs and owe the state for prescription costs and harm to patients.

Netherlands

GETRONICS was up EUR 0.15 to EUR 6.36. In broker action Kempen upgraded the stock to buy from hold, and raised its target to €; 7.50 from €; 7.00. Rabo upgraded to buy from hold.

Spain

ENDESA was down €; 0.65 to €; 37.85. Finance Minister, Pedro Solbes, has said that the Spanish govt. is not behind Enel's recent acquisition of stakes in the Co., reported Reuters.

Italy

CAPITALIA was up €; 0.04 to €; 6.45. Shares edged higher as sources close to the market said that Spain's Santander may be increasing its stake in the company. In addition, the Co.'s key shareholders are expected to meet today to discuss the possible reinstatement of pact Chairman, Vittorio Ripa di Meana, following a public dispute with CEO, Matteo Arpe.

Switzerland

RICHEMONT was down CHF1.00 to CHF64.85. In a joint venture the Co. and Polo Ralph Lauren announce today the formation of The Polo Ralph Lauren Watch and Jewellery Company, S.A.R.L., whose purpose will be to design and create luxury watches and fine jewellery.


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