Monday 16 January, 5:00 PM GMT (Thomson Financial): European markets ended
the trading session slightly higher, led by the oil & gas sector in the
wake concerns about supply disruptions from Iran and Nigeria. Amongst the
headlines, Oce announced preliminary full year net income of 78.8 million
euros compared to 78.1 million euros last year. ThyssenKrupp and Arcelor
raised their bids for Dofasco, while shares in Standard Chartered Bank
ended higher on reports it was being stalked by U.S. institutions as a
possible takeover target. Meanwhile, TNT denied holding negotiations with
German entrepreneur Cornelius Geber about selling the company, while VNU
received a 7.3 billion euros offer from a private equity consortium.
London's FTSE-100 Index rose by 29.20 points or 0.51% to 5740.20, while
Paris's CAC-40 Index climbed by 5.56 points or 0.11% to 4856.09. Frankfurt
's DAX Index ended up by 31.55 points or 0.58% to 5514.64 and Milan's S&P
MIB Index added 361 points or 1.00% to 36,626. The pan-European blue chip
Dow Jones Stoxx 50 Index 4.37 points or 0.13% to 3425.74.
* Printing services group Oce announced preliminary full year net income
of 78.8 million euros compared to 78.1 million euros in the previous year.
Operating income dipped to 110.1 million euros from 110.4 million euros in
the prior year, on revenues of 2.677 billion euros from 2.652 billion
euros last year. The company said that following a downward trend,
revenues from services and media had started to grow again during 2005
because earnings from servicing had become more stable due to placements
of new printing systems and growth in revenues from Business Services.
* ThyssenKrupp increased its offer for Dofasco to 68 Canadian dollars per
share from 63 Canadian dollars per common share. Rival bidder Arcelor
responded by increasing its offer for Dofasco to 71 Canadian dollars from
its previous offer of 63 Canadian dollars.
* Publishing and marketing research group VNU received a non-binding
proposal to purchase the company for 28.00 to 28.50 euros per common share
from a private equity consortium after several weeks of diligence and
access to VNU management. VNU said it will proceed with discussions with
this private equity consortium as it continues to weigh alternatives and
evaluate what course of action will serve the best interests of its
stakeholders. VNU said it was not proceeding with discussions with any
other party.
* Shares in channel tunnel operator Eurotunnel ended the day higher after
it posted a 1% year-on-year rise in 2005 un-audited operating revenues to
541 million pounds from 538 million pounds in 2004. The revenue from
shuttle activity amounted to 295 million pounds, up 4% year-on-year,
marking the first increase in revenue from Eurotunnel's principal activity
since 2002.
* Shares in Standard Chartered Bank ended higher after a report in The
Observer newspaper suggested the group was being eyed up as a possible bid
target by several U.S. banking groups.
* Dutch postal and logistics firm TNT denied holding negotiations with
German entrepreneur Cornelius Geber about selling the company after
weekend press reports suggested he was in favour of launching a hostile
bid for the Dutch company.
Simon.Tse@Thomson.com; Thomson Financial
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SOURCE Thomson Financial Corporate Group
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