CADIZ TRADERS THREAD

Paris shares up midday in thin holiday trade as US futures point up
PARIS (AFX) - Share prices were higher midday after yesterday's declines and
as Wall Street futures pointed to a positive start to US trading, dealers said.
At 12.15 pm the CAC-40 index was up 13.07 points at 4,770.
Volume was 566 mln euro.
On the Matif, January CAC-40 futures were trading up 12.5 at 4,776.5.
Dealers said volumes remained extremely thin, with many players opting for a
full week's break to celebrate Christmas and New Year.
No corporate results are scheduled for this week in France, but the few
active investors will be eyeing the US November help-wanted index and existing
home sales indicators due late in the session.
The sharpest gainer was PPR, up 1.65 at 95.30, adding to yesterday's gains
as the market bet on a solid Christmas season at its key retail units.
Automakers attracted bargain-hunters, with Peugeot up 0.68 at 49.44 and
Renault up 0.55 at 69.05.
Oil stocks were higher on talk that OPEC may cut its output ceiling by 1 mln
barrels per day.
Total was up 1.20 at 214.80 and Technip added 0.95 at 51.30.
Among losers, Veolia Environnement was down 0.27 at 38.49 after French and
UK press reports claimed the group is seeking a buyer for its profitable 25 pct
stake in UK water and waste company Southern Water.
Renault is to buy the entire 10 pct stake in Renault Samsung Motors Corp
owned by local creditors in January for 55 bln won.
The equity purchase, to be completed by January 18, will boost Renault's
stake in the South Korean carmaker to 80.1 pct.
On the second-line, Euronext was down 0.01 at 10.94 after the Tel Aviv Stock
Exchange said it is considering joining it as a full partner.
Saul (Sam) Bronfeld, TASE managing director said that if the TASE joins
Euronext, TASE members would automatically become members of Euronext-member
bourses, and vice-versa, according to Globes.
This means that TASE members would be able to trade in securities and
derivatives listed on Euronext exchanges without having to go through European
brokers, he said.
Altran Technologies was down 0.15 or 1.54 pct at 9.57 after Les Echos
reported that it faces a fine from French bourse regulator AMF, which is
investigating the group's 2001 and 2002 accounts.
The paper did not name its source or say how big the fine would be or when
it would be announced.
paris@afxnews.com
mrg/nes

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