Europe Stocks End Mixed
European stock markets ended mixed on Monday.
In London, the Financial Times-Stock Exchange 100 index, after sputtering much of the day, rose 28.9 points to 5,270.7 with help from some earnings reports and lower crude oil prices.
Among stocks on the move, Vodafone rose after the company said it added 4.14 million new customers in the second quarter. Reckitt Benckiser rose after the company raised its 2005 earnings estimates. BP Plc rose after Lehman Brothers raised its 2006 to 2010 Brent oil-price forecast to $50 a barrel from $40, and lifted its oil-industry view to positive from neutral. Balfour Beatty rose after winning a contract to build new hospital facilities in Glasgow. BSS Group rose amid takeover speculation.
In Germany, the DAX Index rose 5.8 points to 4,842.7 amid a mixture of earnings reports and worries about the recent terrorist attacks.
Tour operator TUI fell after it flew customers home this weekend following bombings at the Sharm el-Sheikh resort in Egypt that killed at least 88 people. Commerzbank AG fell on news its offices were searched by Frankfurt prosecutors as part of an inquiry into a Russian money-laundering investigation. Evotec rose on winning a contract to supply services to the pharmaceuticals unit of Procter & Gamble. Hochtief rose after signing a 138 million pound contract with Manchester City Council to finance, build, and operate a school. SAP fell after Morgan Stanley cut the share recommendation equal-weight from overweight.
In Paris, the CAC 40 rose 6.6 points to 4,422.12 as oil prices fell.
Danone fell after PepsiCo said it is not preparing a takeover bid as had been rumored last week. Medcost fell after the company lowered the sales growth outlook for its Doctissimo unit. Societe de Bains de Mer rose after its Casino de Monte Cristo said 2004-2005 net income tripled. Ubisoft rose after the company forecast higher video games profits.
Asian markets finished higher on Monday.
In Japan, the Nikkei 225 index rose 67.6 points, or 0.58%, to 11,762.65 on the back of bargain hunting after three days of declines. Market weakness last week reflected concerns of an adverse impact on Japan's economy from China's yuan revaluation.
In Hong Kong, the Hang Seng index edged up 7.57 points, or 0.05%, to 14,794.03. CNOOC and HSBC Holdings led Hang Seng advancers by index points. Hutchison Whampoa and Swire Pacific led declining stocks.