The European markets at 13.00 GMT
LONDON - Leading shares remained weak midday, but off lows as US technology concerns were seen hitting US stocks at the open but with several M&A reports nearer to home seen offering support, dealers said.
At 12.10 pm, the FTSE 100 index was down 14.1 points at 6,196.2, having hit an earlier low of 6,178.0, while the broader indices were also on negative terrain. Volume was moderate with 1.103 bln shares trading in 171,429 deals.
FRANKFURT - German shares were lower in late morning trade, as US futures pointed to a lower Wall Street open, with Infineon leading the bluechips lower, traders said.
At 12.56 pm, the DAX was down 22.18 points or 0.33 pct to 6,667.44, with the MDAX adding 25.63 points or 0.27 pct to 9,575.74.
The TecDAX lost 7.18 points or 0.91 pct to 786.09, while the DAX futures contract lost 2.50 points or 0.01 pct to 6,704.00.
PARIS - Share prices were down at midday as yesterday's losses on Wall Street, coupled with fading hopes of interest rates cuts in the US, weighed on investor sentiment, dealers said.
At 12.55 pm the CAC-40 index was down 7.01 points or 0.13 pct at 5,548.08 on volume of 2.9 bln eur.
AMSTERDAM - Share prices were lower in midday trade as US futures pointed to a lower Wall Street open, dealers said.
At 11.51 am, the AEX was down 1.08 point or 0.21 pct at 504.45, after opening at 504.50 and reaching a low of 502.75.
MILAN - Share prices edged higher at midday after switching between positive and negative territory all morning, and with Fiat SpA holding centre stage both in terms of trading volume and share price gain, dealers said.
At 12.41 pm, the Mibtel index rose 0.19 pct to 32,176 points and the S&P/Mib was up 0.13 pct at 41,765, while volumes were 2.6 bln eur.
MADRID - Share prices were lower midday in line with Europe, while Endesa was in focus after the government declined to lift conditions on E. ON AG's bid, dealers said.
At 1.00 pm, the IBEX-35 index was down 22.9 points to 14,243.9, on turnover of about 5.3 bln eur.
STOCKHOLM - Shares were little changed in midday trade, with Swedish bank SEB, however, sharply outperforming on merger speculation, dealers said.
At 12.05 pm, the OMX Stockholm index was up 0.04 pct at 383.48, and the OMX Stockholm 30 was up 0.10 pct at 1,174.82. Turnover was 11.45 bln skr.
ZURICH - Share prices traded lower in thin midday trade reflecting a dearth of market-moving news in Switzerland as US futures point to further losses in early Wall Street trade, dealers said.
At 12.10 pm, the Swiss Market Index was 28.61 points lower at 9,070.74, and the Swiss Performance Index was down 25.03 points at 7,172.
Top Stories
LONDON - Ranbaxy Laboratories Ltd aims to start due diligence procedures next month on Merck KGaA's generic drugs unit, which it is considering bidding for in conjunction with private equity firms, said CEO Malvinder Mohan Singh.
"The (diligence) process will start in February," Singh told News' partner agency dpa-.
PARIS - Artemis, the holding company of financier Francois Pinault, said it has secured the "necessary financial commitments" to launch a takeover offer for Suez, and said it will continue to consider the possibility of a bid.
But it also said that in light of recent speculation of an alternative offer to the Suez plan to merge with state-controlled Gaz de France, it has no plans to launch a counterbid now.
DUESSELDORF, Germany - ThyssenKrupp AG said it is 'optimistic' it will exceed its earlier 2007 pretax profit guidance of 2.5 bln eur after earning about 1.0 bln before taxes in the first quarter.
PARIS - Schneider Electric said fourth quarter sales were 3.664 bln eur, up 12.3 pct from a year earlier and exceeding analysts' forecasts, as acquisitions combined with strong growth in its previously owned activities. Full year sales were 13.730 bln, up 17.6 pct and also exceeding forecasts.
MILAN - The Italian government's sale of a 30 pct stake in Alitalia SpA has attracted interest from Italy's Altantis fund, supported by the Camuzzi family, said Il Mondo weekly. In an unsourced report on possible bidders, Il Mondo said Air France-KLM is expected to bid alone for the Alitalia stake, rather than with Italian allies, as some reports have suggested.
BRUSSELS - Belgian healthcare group Omega Pharma NV has posted a trading update which shows full-year sales in line with the company's own estimates of 1 bln eur, driven by growth in the Belgian over-the-counter market.
BUDAPEST - European Central Bank board member Juergen Stark said the ECB retains the freedom to move interest rates whenever it considers it necessary to control inflation pressures, irrespective of guidance on possible rate moves at ECB news conferences.
LONDON - The UK mortgage market faltered in December in a clear sign that higher borrowing costs are starting to bite, a leading industry group said today. The Building Societies' Association revealed today that the value of new mortgages, on a seasonally-adjusted basis, rose by 932 mln stg in December, from 1.26 bln stg in November. The latest figure is the lowest since February 2005.
LONDON - A surge in the sale of laptops and flatscreen televisions helped the UK's retailers enjoy their best December for three years, official figures showed today. The Office for National Statistics revealed that retail sales on a seasonally adjusted basis rose by 1.1 pct in December from the previous month, against expectations of a 0.5 pct rise.
It also reported that the UK owes more than half a trillion pounds for the first time ever. Net debt during the month rose to 504.1 bln stg from 467.1 bln in December 2005. That means that the UK's net debt situation has increased by more than 150 bln since Labour came to power in May 1997.
LONDON - The Bank of England said M4 money, a broad measure of money supply, rose by 0.9 pct in December from November on a seasonally adjusted basis, for a 12.8 pct year-on-year rise. The annual rate has slowed steadily after reaching a 16 year high of 14.4 pct in September.
Elsewhere, the BoE said M4 lending rose by 11.0 bln stg during the month, well down on the 23.9 bln stg in November.
MILAN - The offices of JP Morgan and of Banca Caboto, a unit of Intesa Sanpaolo SpA, have been searched by the financial police in the probe regarding the initial public offering of oil refiner Saras SpA, of which they were coordinators, daily Il Sole 24 Ore reported, citing a writ of the Milan prosecutors office.
PARIS - AMF, the French stock market regulator, said it has approved the prospectus for the 14 bln eur merger between Euronext NV and NYSE Group Inc. The timetable for the official offer by NYSE will be published later once AMF has received all the necessary prior approvals, it said.
FRANKFURT - Deutsche Boerse AG is considering splitting the management of the company into three divisions after abandoning efforts to buy Euronext NV last year, people familiar with the matter told the Wall Street Journal.