Thursday 22 December, 10:15 AM GMT (Thomson Financial): European markets
are little changed overall as trade and newsflow quiet down ahead of the
festive holidays. Of note, shares in Hilton Group are higher after the company
said it had received an approach for its Ladbrokes betting chain, while
logistics group KFM is also higher after it said it was in merger talks with
DSV. On a weaker note, shares in healthcare group Roche are lower on fears
that the H5N1 strain of bird flu might be building up resistance to its
Tamiflu treatment.
London's FTSE-100 Index is slightly higher, by 4.50 points or 0.08% to
5591.90, while Paris's CAC-40 Index has weakened by 7.92 points or 0.17% to
4744.49. Frankfurt's DAX Index has slipped by 3.48 points or 0.06% to 5393.75
and Milan's S&P MIB Index is barely higher, by 10 points or 0.03% to 35,813.
The pan-European blue chip Dow Jones Stoxx 50 Index is down by 5.25 points or
0.16% to 3358.29.
* Shares in Hilton Group are outperforming after the company announced
that it had received expressions of interest in its Ladbrokes betting
chain. The group said it had great confidence in the future of the
chain, but added that it remained focus on discussions with Hilton
Hotels Corporation regarding the sale of its Hilton International hotels
division.
* On a weaker note, shares in Roche are trading lower after press reports
indicated that an article in the New England Journal of Medicine had
cast some doubt on the overall efficacy of its Tamiflu treatment.
According to the article, of eight H5N1 bird flu patients being treated
with the drug, four had died, two of which had developed some
resistance.
* Dutch Logistics group KFM is in focus after it said it had entered into
merger talks with Denmark's DSV. KFM said DSV had advanced an indicative
cash offer of 38 euros per share, including any dividend for 2005,
adding that a majority of KFM shareholders backed the offer. The company
indicated that talks were at an early stage but were serious and
constructive.
Olivier.Masson@Thomson.com; Thomson Financial
This is Thomson Financial Corporate Services Europe Market Commentary. The
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SOURCE Thomson Financial Corporate Group
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