7:00 PM Frankfurt, Paris; 1:00 PM New York European markets closed lower. The ECB President Trichet comments suggest a gradual unwinding of economic stimulus. JC Decaux renews its exclusive advertising contacts in Shanghai. Technip awarded gas facilities contract in Abu Dhabi. Solon SE nine-month loss shrinks.
European markets closed lower. The ECB president Jean-Claude Trichet indicated that non-standard measures will be discontinued gradually so that they do not contribute to inflationary pressures.
In London FTSE 100 Index closed lower 13.61 or 0.26% to 5,254.09, in Paris CAC 40 Index decreased 22.66 or 0.60% to close at 3,737.56, in Frankfurt DAX index lower 33.17 or 0.58% to close at 5,669.01. In Zurich trading SMI decreased 10.73 or 0.17% to close at 6,276.08.
Gainers & Losers
ArcelorMittal the steelmaker added 2.0% to 25.77.
Arques Industries AG closed unchanged at 1.69 said third quarter sales fell 36% to 829.5 million from 1.30 billion a year ago. Net loss in the quarter was 9.5 million or 0.37 per diluted share compared to net loss of 78.4 million or 2.97 per share a year ago.
Buzzi Unicem SpA fell 2.5% to 10.69 after the cement maker said nine months sales fell 23.5% to 2.08 billion from 2.72 billion a year ago. Net profit in the nine months fell 60% to 117.3 million compared to net profit of 295.1 million a year ago.
Continental AG the auto-parts maker added 1.9% to 38.35.
Deutsche Bank AG fell 0.1% to 50.35.
Deutsche Lufthansa AG advanced 0.5% to 10.85 and Deutsche Telekom AG rose 0.4% to 9.59.
IKB Deutsche Industriebank AG closed unchanged at 0.89 after the lender said that it expects to report for the first half of the fiscal 2009 a net loss of 398 million.
Infineon Technologies AG the maker of semiconductors climbed 2.1% to 3.27.
Italcementi SpA declined 1.4% to 9.41 after the producer and distributor of cement said nine months sales fell 13% to 3.85 billion from 4.42 billion a year ago. Net profit in the nine months fell 47.7% to 103.5 million compared to net profit of 197.8 million a year ago.
JCDecaux SA advanced 1.8% to 15.73 after the outdoor advertising company said that it has renewed and extended a 10-year bus body advertising concession contract on an exclusive basis with Shanghai Bashi Co.,Ltd.
Lagardere SCA rose 0.6% to 30.31 after chief financial officer of the publishing group said Thursday that the group still aims to eventually sell the minority stake it holds in Vivendi SA''s Canal Plus Group and the stake in European Aeronautic Defence & Space Co NV.
Merck KGaA decreased 0.6% to 63.60 after the drugmaker was downgraded to hold from buy at Citigroup Inc.
Compagnie Plastic Omnium SA the plastics company rose 2.1% to 18.38.
RWE AG the utility climbed 1.2% to 63.19.
Solon SE dropped 3.3% to 7.47 after the solar technology company said nine months sales fell 66% to 218.4 million from 637.0 million a year ago. Net loss in the nine months was 80.4 million or 6.42 per diluted share compared to net profit of 27.3 million or 2.18 per share a year ago.
Suez Environnement SA the field of environmental services climbed 0.1% to 15.09.
Sword Group SA rose 1.9% to 24.00 after the consultant said that it has acquired AgencyPort, an insurance software developer based in the U.S.