Friday, 30 December, 1:00 PM GMT (Thomson Financial): European bourses
remain lower in quiet trade in the year's last session, with markets in the
U.K. and in Germany having already closed. In corporate news, Ahold has said
it would post US$50-US$60 million in charges related to its U.S. Foodservice
unit, while LogicaCMG has said it now has a 46.8% stake in Unilog. On the
economics side, unemployment in France dropped slightly, while inflation in
Spain has picked up.
London's FTSE-100 Index has closed down by 19.50 points or 0.35% to
5618.80, while Paris's CAC-40 Index is down by 42.69 points or 0.89% to
4730.24. Frankfurt's DAX Index has closed down by 50.32 points or 0.92% to
5408.26 and Milan's S&P MIB Index is lower by 252 points or 0.70% to 35,705.
The pan-European blue chip Dow Jones Stoxx 50 Index is weaker by 20.35 points
or 0.60% to 3350.49.
* 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.
* On the economics side, unemployment in France slipped to 9.6% in
November, compared to 9.7% in October, while inflation in Spain reached
3.8% in December according to preliminary estimates, compared to 3.4%
in November.
- 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 any
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SOURCE Thomson Financial
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