Friday 30 December, 10:15 AM GMT (Thomson Financial): European markets are
trading lower, tracking overnight weakness on Wall Street and in Asia.
Trading is light in the last session of the year, but Ahold is in focus
after unveiling write-downs related to its U.S. Foodservice operation.
London's FTSE-100 Index is down by 37.20 points or 0.66% to 5601.10, while
Paris's CAC-40 Index has fallen by 50.99 points or 1.07% to 4721.94.
Frankfurt's DAX Index has declined by 62.27 points or 1.14% to 5396.31 and
Milan's S&P MIB Index is lower by 302 points or 0.84% to 35,655. The
pan-European blue chip Dow Jones Stoxx 50 Index has weakened by 26.22
points or 0.78% to 3344.62.
* Ahold said it expected to post US$50- US$60 million in charges related
to its U.S. Foodservice unit in the fourth quarter. Ahold said the charges
reflected planned workforce reduction, asset impairments, lease expenses
related to facilities to be exited and termination of contractual
obligations, adding that the 700 jobs would be lost across the U.S.,
including 500 administrative positions.
* LogicaCMG said it held a 46.8% stake in Unilog after the tender offer
for the firm closed on 28 December. The company added that separately from
the tender offer, it had bought a total of 1.86 million shares during the
offer period on 29 December at an average price of 72.9 euros per share.
* Diageo said it would continue its share buyback programme during its
close period ahead of the publication of its interim results on 16
February.
Olivier.Masson@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
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SOURCE Thomson Financial Corporate Group
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