Market Recap
DJIA closed, Nasdaq closed and S&P closed
Nikkei -1.35%
WTI Crude Oil USD 36.88
Gold USD 957
USD/EUR 1.2651
U.S. News
U.S. markets were closed yesterday for President’s Day Holiday.
GM is considering shutting or selling as many as four European plants as it tries to meet the terms of a U.S. government bailout.
European News
L’Oréal reported last night its FY08 numbers below the consensus with a drop in margin and profit. Dividend is up 4% to EUR 1.44.
Aegon reports this morning a Q4 net loss of EUR 1.2bn vs estimations of EUR 818m
Moody’s has warned of the exposure of West European banks have to Eastern Europe; no all risks are priced in.
CRH could make an offer to buy Heidelbergcement. The German construction company is in deep trouble.
Givaudan reports its FY08 below market expectations
Clariant reports its FY08 numbers below market expectations. No dividend will be paid.
Schindler reports its FY08 numbers above market expectations. Expects 09 net at the level of 08.
Ciment Français will be absorbed by Italcementi (82%) for EUR 64 in stocks.
Generali according to Il Sole 24 Ore could be ready to buy out Alleanza in all paper deal.
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