EQUITIES as a percentage of any PORTFOLIO

PARIS (AFX) - Shares are expected to trade in a very tight range around
yesterday's closing level, on a shortened day ahead of this evening's new year
celebrations, dealers said.
The CAC-40 index yesterday closed up 0.79 points at 3,827.95, on weak volume
of 1.04 bln eur.

FORTHCOMING EVENTS
TODAY
-Markets to close at 2.00 pm
-November unemployment 8.45 am. Consensus forecast for unemployment rate 9.8
pct

MONDAY
-Dec manufacturing PMI at 9.50 am. Consensus forecast 52.0
-French Dec, 2004 car registration numbers at 12.00 pm

TODAY'S PRESS
-Deutsche Boerse boss to spell out merits of LSE merger next week (Financial
Times)

COMPANY NEWS
-PPR sells remaining 10 pct in Finaref to Credit Agricole for 265 mln eur
-Marionnaud chairman not averse to friendly takeover bid
-France Telecom says TPSA unit to cut 3,500 jobs in Poland next year
-Italcementi's Ciments Francais has 39.9 pct of Egypt's Suez Cement at offer
close

MACROECONOMIC/POLITICAL/MISCELLANEOUS
-Insurgents set fire to major Baghdad oil refinery - interior ministry
-Schroeder calls for tsunami countries' debt to be reduced
paris@afxnews.com
jad/ab