EQUITIES as a percentage of any PORTFOLIO

Paris shares AFX at a glance outlook

PARIS (AFX) - Share prices are expected to open strongly higher, with Wall
Street's gain restoring buying interest after the Paris market eased from a four
year high, dealers said.
Yesterday the CAC-40 index closed up 22.06 points or 0.46 pct at 4,776.98,
after a session peak of 4,803.23.
Volume was 3.92 bln eur.
On the Matif, January CAC-40 futures were trading up 48.0 points at 4,830.0
or 1.0 pct ahead of the official opening.
The euro was quoted at 1.2034 usd, against 1.1976 late yesterday.

FORTHCOMING EVENTS

TODAY
-Renault news conference, 8.30 am
-Alstom expected to announce sale of 75 pct of shipbuilder Chantiers de
l'Atlantique to Aker, 10.00 am

TOMORROW
-Dec consumer confidence, 8.45 am
-Dec services PMI, 9.50 am

TODAY'S PRESS
-Havas chairman Vincent Bollore wants the head of the company's media
planning arm to become the next group chief executive, potentially forging
closer ties with Aegis Group (Telegraph)
Spanish regulators have ordered Telefonica to halt three commercial services
after anti-trust complaints from France Telecom unit Wanadoo and others (Cinco
Dias)

COMPANY NEWS
Renault said its 2005 vehicle sales rose 1.7 pct to 2.53 mln units, with a
further rise seen in 2006.
Italy's Eurofly signed a contract with EADS unit Airbus to buy three
A350-800 planes, with an option for three more.
Thomson unit Technicolor Digital Cinema has agreed with US cinema chain
Century Theatres to install its digital screens in its cinemas.
Vivendi Universal said it has acquired a further 2 pct of Poland's ET/Telco,
raising its stake to 51 pct.

MARKET NEWS/SENTIMENT
-Total downgraded to 'underweight' from 'equal-weight' by Morgan Stanley
paris@afxnews.com
mjs/al