Hi, we've made some changes

Europe: Bourses little changed

Related Companies

Related Indices

Related Sectors

News for Spread Betters

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Thursday 15 May 2008

LONDON (ShareCast) - European shares were flat midday with banks in the limelight once again after Barclays refused to rule out a rights issue.

Barclays saw first quarter profits fall after the banking giant revealed £1bn worth of new credit crunch related write-downs. The write-down for its investment banking unit is net of a £700m gain on the fair valuation of notes issued by Barclays Capital.

KBC was lower after the Belgian banking and insurance group saw first quarter profits fall by 44% and suspended its share buyback programme.

French bank Natixis advanced after it posted a net profit of €69m in the first quarter, while some analysts had expected the group would swing to a loss.

Shares in Hennes & Mauritz dropped as the clothing retailer’s April sales figures failed to meet forecasts.

A wider than expected first quarter net loss had German pay-TV broadcaster Premiere in the red.

The German Dax fell 4 points to 7,078, the French CAC is down 9 points to 5,045, while the Swiss market gained 67 points to 7,661.

In economic news, euro zone GDP rose a better than anticipated 0.7% in the first quarter from the previous quarter, helped by strong growth in Germany.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).