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Market Update : 
Air Liquide and Linde Lead Europe Higher
Author: Elena Todorova
123jump.com
Last Update: 1:25 PM EDT June 29 2007


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European stock markets closed higher on Friday, helped by tame U.S. inflation data and bid talk. Capgemini advanced 1.1% on speculation that India''s Infosys Technologies may launch a bid for the information-technology consulting firm. French industrial gasses group Air Liquide rose 3% on deal speculations, followed by its German peer Linde also gained ground, up 1.4%. The German DAX 30 jumped 1.1%, the French CAC 40 rose 0.8%, and the U.K.''s FTSE 100 added 0.6%.

 
BT Group advanced 1.7% as according to CEO Ben Verwaayen analysts are underestimating sales growth. U.K. builder Berkeley rose 2.3% after the adjusted profit of the company advanced a faster-than-forecast 12%. Forklift maker Linde rose 3.3% and Swatch was up 2.9% after Deutsche Bank hiked its rating to buy on favorable trends in the watch industry and on margin hopes.

Decliners

Segro tumbled 4% as HSBC cut the property company rating to neutral from overweight. U.K. coal power firm Drax dropped 2.8% after announcing results in line with expectations. Security Land shares slipped 0.8% and British Land fell 1.1%.

Commodities

Oil prices were steady below $70 a barrel Friday after jumping above that mark in the previous session the first time in ten months on concerns about gasoline supplies. Crude oil for August delivery gained 15 cents to $69.63 a barrel in electronic trading on the New York Mercantile Exchange. Gold opened Friday at a bid price of $647.90 a troy ounce, down from $648.80 late Thursday.

Currencies

The U.S. dollar was trading at 123.44 yen midafternoon, up from 123.18 yen late Thursday in New York. The euroo rose to $1.3456 from $1.3432. The British pound also climbed slightly to $2.0027.
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