Tuesday 3 January, 1:00 PM GMT (Thomson Financial): European markets
remain in positive territory ahead of the opening session on Wall Street
and the minutes from last month's U.S. Federal Open Markets Committee
meeting.
The oil & gas sector continues to lead the field despite the commercial
dispute between Russian state-run Gazprom and Ukraine over the purchase
natural gas at the going market rate.
Elsewhere, Volkswagen has received interest for its Europcar rental
business as part of its extensive restructuring program, while betting
group William Hill has raised its full year guidance. ThyssenKrupp has
increased its offer to acquire Dofasco to 63.00 Canadian dollars per share
from 61.50 dollars, while Spain's competition authority has rejected Gas
Natural's bid for electricity company Endesa on competition grounds.
London's FTSE-100 Index has risen by 59.60 points or 1.06% to 5678.40,
while Paris's CAC-40 Index has added 43.67 points or 0.92% to 4798.59.
Frankfurt's DAX Index is higher by 41.74 points or 0.77% to 5491.72 and
Milan's S&P MIB Index has gained 257 points or 0.71% to 36,219. The
pan-European blue chip Dow Jones Stoxx 50 Index has climbed by 34.77
points or 1.03% to 3394.58.
* The oil & gas sector is in focus, owing to the dispute between Russia's
Gazprom and Ukraine. The latter is refusing Gazprom's demands to purchase
natural gas at the going market rate. Gazprom says it will increase
supplies to European customers to cover any temporary shortfalls.
* Shares in German automaker Volkswagen remain higher after a report in
The Financial Times reported that the company has received interest from
six parties for its Europcar rental business as part of its extensive
restructuring program. Meanwhile, a report in the Frankfurter Allgemeine
Zeitung says Volkswagen and DaimlerChrysler are on the cusp of a
collaboration to build a minivan in the United States.
* U.K. betting shop group William Hill has raised its full year guidance,
with profits before interest, taxation and exceptional items expected to
be slightly above its previously indicated range of 230-240 million
pounds.
* ThyssenKrupp has increased its offer to acquire Dofasco to 63.00
Canadian dollars per share from 61.50 dollars and will extend the date of
acceptance of its increased offer to January 25, 2006. The offer matches a
bid for Dofasco made by Arcelor.
* AstraZeneca has submitted a supplemental New Drug Application to the
U.S. Food and Drug Administration to seek approval for use of Seroquel in
the treatment of patients with depressive episodes associated with bipolar
disorder.
* Spain's competition authority has rejected Gas Natural's 22 billion
euros bid for electricity company Endesa on competition grounds,
government spokesman Fernando Moraleda confirmed. Moraleda said the court'
s decision is not binding, but is an important step in the takeover
process.
* WPP Group's wholly owned operating company Research International has
acquired Pentor Instytut Badania Opinii i Rynku, an independent Polish
market research agency.
Simon.Tse@Thomson.com; Thomson Financial
This is Thomson Financial Corporate Services Europe Market Commentary.
The information herein is believed to be true and accurate. If you have
any questions please e-mail James Sang at james.sang@tfn.com. For more
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SOURCE Thomson Financial Corporate Group
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