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European close: Dull day sees few changes
Wed, 08 Feb, 2012
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European close: Dull day sees few changes
Thu, 2 Sep 2010, 16:33:00
Bourses rallied a touch near the close as the ECB upped its growth forecast for the eurozone, but trading was anything but vigorous. The CAC in Paris rose 7 to 3,631, Zurich added 1 at 6,334 while the Dax in Frankfurt was little changed at 6,083. ECB president Jean-Claude Trichet revealed the bank now expects growth in 2010 to be in a range of 1.4 to 1.8%, much higher than the previous estimate of between 0.7% to 1.3% made in June. The forecast for 2011 has also been raised to between 0.5% and 2.3% from 0.2% -2.2%. Interest rates, as expected, were kept at 1%. Earlier, Sweden's central bank increased rates again, the second time in two months. They rose by a quarter point to 0.75% and rate setters warned further rises will be needed to control inflation. In company news, French Spirits maker <b>Pernod Ricard</b> fell after full year profits missed analysts' expectations. Net income in the year to June 30 edged up to €951m (£788). Swiss insurer <b>Helvetia</b> is lower after saying first half profit fell to 155.5m francs (£99m)from 158.5m francs a year earlier as investments declined and claims increased. Norwegian fertilizer group <b>Yara</b> was hit by a downgrade from Morgan Stanley to 'equal-weight' from 'overweight.' <b>CAC 40 - Risers</b> EADS (EAD) € 18.36 +2.80% Credit Agricole (ACA) € 10.54 +1.35% Vinci (DG) € 36.75 +1.32% ArcelorMittal SA (MT) € 24.20 +1.21% <b>CAC 40 - Fallers</b> Pernod Ricard (RI) € 61.25 -2.37% Lagardere SCA (MMB) € 28.74 -1.19% Schneider Electric (SU) € 86.49 -1.09% Danone (BN) € 43.13 -1.00%
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