European equities decreased today as financial stocks fell on profit taking. In early trade, the FTSE Eurofirst 300 dip 0.2 per cent, Frankfurt’s Xetra Dax drop 0.2 per cent, the CAC 40 in Paris lost 0.2 per cent and London’s FTSE 100 slip by 0.2 per cent.
Among all these, the biggest looser on the Eurofirst 300 was Norway’s Renewable Energy (REC). The solar power systems group reluctant to increase its stake as its arch rival Orkla, increased its stake to 39.99 per cent. Orkla purchased the shares from Good Energies Investment. REC shares fell 12.5 per cent.
Renault, the French car maker recorded 1.6 per cent slump as its Japanese partner Nissan lost more than 8 per cent. Other European car makers also undermined as French car maker Peugeot, fell 1.1 per cent, Germany’s luxury carmaker DaimlerChrysler share shed 0.9 per cent and Italy’s Fiat lost 0.8 per cent.
Lower budget airline Ryanair reported 30 percent 3Q profit upsurge and gain 6.5 percent, despite fears that fuel costs would have hit the firm.
Unibail, the French property group, rose 4.8 percent but Endesa, the Spanish power utility, fell 2.5 per cent after German rival Eon submitted its final and confidant bid to take it over, Eon shares lifted 1.5 per cent.
Via: financialtimes
