Paris shares close higher as US factory activity bolsters sentiment

Date: 4 October 2005
Source: Forbes.com

Date: 4 October 2005

Share prices closed higher after news of a surprise acceleration in factory activity in the US in September and gains on the Nasdaq reassured investors, dealers said.

The CAC-40 closed up 22.52 points or 0.49 pct at 4,622.54, on volume of 3.2 bln eur.

Thirty-three CAC-40 stocks closed up and 7 down.

On the Matif, October CAC-40 futures were trading 26 points firmer at 4627.5, while the euro stood at 1.1912 against the dollar.

Institute for Supply Management said the ISM index rose to 59.4 pct in September from 53.6 pct in August,hitting the highest level since August 2003.

Gains on the tech-rich Nasdaq pushed IT stocks higher, with STMicroelectronics leading the index, up 0.42 or 2.94 pct at 14.73 and Capgemini up 0.86 or 2.66 pct at 33.24.

Advertising shares continued to rise strongly, on the back of speculation of a shakeup in the sector after Havas chairman Vincent Bollore raised his stake in Aegis. Havas was up 0.07 eur or 1.66 pct at 4.29, while rival Publicis added 0.47 or 1.77 pct at 26.95.

Accor was up 0.44 to 42.46 on speculation it is approaching a decision on a new CEO.

Saint-Gobain was up 0.34 at 48.20, after saying it had acceptances from less than 1 pct of BPB PLC shareholders in its hostile bid for the group. Saint-Gobain prolonged the offer through October amid expectations it will raise it.

Second-liner Rhodia soared, 0.13 or 7.65 pct at 1.83 amid speculation that it may be the subject of a takeover bid.

Sanofi-Aventis was up 0.60 or 0.87 pct at 69.35, after the market brushed aside news that US health authorities are investigating if there is a health hazard from its Menactra meningitis vaccine.

Total was one of the few decliners, down 11.30 at 22.80 pct at 225.90, against the backdrop of on-going industrial action at one of its main French refineries
600450 Paris shares close higher as US factory activity bolsters sentiment glassonweb.com

See more news about:

Others also read

MORE...

Emirates Glass wins major supply contract for Palm Jumeirah
Emirates Glass, a Dubai Investment subsidiary, has won a major contract to supply 140,000 square meters of its premium glass to the prestigious development on the Palm Jumeirah, reaffirming its already established reputation as the single most prominent company in the entire regional glass industry.The deal was announced during the company's participation in the prestigious Big 5 show, the largest annual venue for the entire Middle-East glass contracting industry.
ISRA Receives Major Display Glass Inspection Order
Isra Vision Systems AG supplier of machine vision systems, has successfully improved its market position in display glass inspection with a major order totalling 1.8 Mio Euro.
Rexam, buyout firms to bid for Calmar-sources
Packagers such as the UK's Rexam and private equity firms are set to vie for pump-sprayer business Calmar, which France's Saint-Gobain (SGOB.
Company to close lime plant in Carey next month
The National Lime & Stone Co. will discontinue production of calcined lime early next month at its Carey plant, the company CEO announced Thursday.
China glass import a cheaper option for Amritsar firm
Jain Scientific Glass Works, manufacturers of glassware for laboratories, is importing glass as raw material from China, which was much cheaper than the local product and abundantly available.
Corning, AGC Glass-substrate Capacity Expansion Projects Unit: 1 furnace Company Location 2004 2005 2006 Corning U.S.
Japan 1 2 1 S. Korea 6 6 3 Southern Taiwan 4 2 0 Central Taiwan 0 4 2 AGC Japan 0 1 1 Taiwan (Yunlin) 1 1 1 Source: PIDA (Photonic Industry & Technology Development Association) Taiwan TFT-LCD Panel Makers Happy to See Substrate-price Falls in 2006 Taipei, Dec. 27, 2005 (CENS)--Both of the world's top-two glass-substrate makers are actively expanding their production capacity in Taiwan, which is expected to cut substrate transportation time and cost for local thin film transistor-liquid crystal display (TFT-LCD) panel makers and boost production efficiency, according to Michael Wang, project manager and senior analyst of Taiwan's PIDA (Photonic Industry & Technology Development Association).According to Wang, Asahi Glass Co. (AGC) of Japan has solved problems in lowering the defect-free rate for the production of fifth- and sixth-generation (5G, 6G) glass substrates, and is expected to tap the market with products with higher price competitiveness in 2006 to grab more market share in the 6G substrate businessIn addition, Wang added, the aggressive capacity added by both Corning of the U.S., the world's No. 1 substrate supplier, and AGC, the No. 2, will lead to price drops for glass substrates and will especially benefit TV panel makers such as AU Optronics Corp. (AUO) and Chi Mei Optoelectronics Corp. (CMO) in TaiwanCurrently, Wang pointed out, a 6G substrate is priced at about 27,000 to 30,000 Japanese yen, about 1,000 to 2,000 yen lower than in the third quarter of 2005.

Add new comment