Friday AM Market View From Europe

by: Dealing Floor

From DealingFloor:

** TRADING HEADLINES **

- Japan Economy Grows Five Times Faster Than U.S. as Exports, Spending Jump
- Bernanke Breaks With Greenspan, Sympathizes With Congress on China Trade
- Nikkei’s Drop Drags Down Asian Stocks; Mitsubishi Estate Paces the Decline
- Dell Expects to Overtake Rivals Hewlett Packard, Lenovo in Asian Sales
- Bridgestone Says 2006 Profit May Slide 45 Percent on Cost of Materials
- Crude Oil May Fall for a Fifth Week on Gains in U.S. Supply, Survey Shows
- Boeing, Airbus Look to Cathay, Asian Airlines for Long-Range Plane Orders

** EUROPEAN STOCKS **

- Voestalpine AG, Austria’s biggest steelmaker, said fiscal third-quarter profit gained 6.2 percent,
helped by higher prices for its steel and increased demand from the oil and gas industry. Net income in the three months ended Dec. 31 rose to 110 million euros, from 103.6 million euros a year earlier. Sales gained 10 percent to 1.6 billion euros.

** UPS & DOWNS **

+ DANONE PRICE EST. RAISED 28% TO EU102 AT LEHMAN BROTHERS
+ DAIMLERCHRYSLER PRICE EST. RAISED 16% TO EU58 AT MERRILL
+ ABB RAISED TO `BUY’ FROM `NEUTRAL’ AT MERRILL LYNCH
+ ZURICH FINANCIAL PRICE EST. RAISED 11% TO SF368 AT DEUTSCHE
+ L’OREAL PRICE EST. RAISED 15% TO EU75 AT DEUTSCHE BANK
+ RANDSTAD PRICE ESTIMATE RAISED 15% TO EU46.4 AT DEUTSCHE BANK
+ SOCIETE GENERALE PRICE EST. RAISED 17% TO EU125 AT DEUTSCHE

- EIRCOM PRICE ESTIMATE CUT 9.5% TO EU1.9 AT LEHMAN
- KINGFISHER CUT TO `SELL’ FROM `HOLD’ AT ING
- BASF PRICE EST. CUT TO EU62 FROM EU70 AT CREDIT SUISSE
- BASF CUT TO `NEUTRAL’ FROM `OUTPERFORM’ AT CREDIT SUISSE
- SCHNEIDER ELECTRIC CUT TO `HOLD’ FROM `BUY’ AT CITIGROUP