CADIZ TRADERS THREAD

FRANKFURT (AFX) - Shares closed higher, led by Siemens and Continental,
after a day of quiet trade and little corporate news, though the DAX reached its
highest levels since August 2001 earlier this session, dealers said.
The DAX 30 index closed 11.43 points or 0.21 pct higher at 5,458.58, having
moved between 5,447.13-5,469.96.
The MDAX was at 7,328.93, up 22.79 points or 0.31 pct, while the TecDAX was
at 596.50, up 2.16 points or 0.36 pct.
The DAX futures index was at 5,487.00, up 7.50 points or 0.14 pct, while
bund futures were at 121.69, down 0.18.
The euro last traded at 1.1840 usd, compared to 1.1846 in late morning
London trade.
Continental was in the vanguard of rising stocks, gaining 1.17 eur or 1.57
pct to 75.60.
Siemens extended yesterday's gains, closing 1.00 higher at 73.78. The German
electronics giant yesterday said it and Doosan Heavy Industries & Construction
Co Ltd won a 1.8 bln eur contract from Saudi Arabia's Shuaibah Water and
Electricity Co (SWEC) to build an oil-fired steam power plant with an associated
desalination facility.
Munich Re closed 0.09 higher at 115.96 as news the world's largest reinsurer
is hiking its 2005 dividend by 1.10 eur per share to 3.10 and expects to meet
its full-year earnings targets offset news this year's hurricane season will
have a 1.5 bln eur impact on its 2005 net profit.
"The market is honouring the news that the outlook has been reiterated and
that the dividend has been hiked," one dealer said.
Bucking the trend, banking stocks were a mixed bag. Commerzbank fell 0.19
eur or 0.71 pct to 26.68, while Deutsche Bank lost 0.36 to 82.58. Meanwhile, HVB
nudged up 0.03 to 25.45.
Utilities were also a weak feature, with RWE losting 0.24 to 62.64 and E.ON
sliding 0.16 to 88.34.
Over on the MDAX, Leoni jumped 1.05 eur or 4.05 pct to 26.99 after the
company said sales in 2006 should reach 1.7 bln eur compared to its earlier
guidance of more than 1.5 bln eur.
Meanwhile, Premiere slid 0.69 eur or 4.54 pct to 14.50.
Premiere has little chance of broadcasting games of Germany's Bundesliga
football league in the next three seasons, according to an interview in Die Welt
newspaper with a manager of Arena, the company that secured the Bundesliga
rights.
Jenoptik rose 0.16 eur or 2.15 pct to 7.60 on the TecDAX, while Aixtron fell
0.07 eur or 2.52 pct to 2.71.
(updating with full report)
maria.sheahan@afxnews.com
ms/Joy/ms/nes

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