[R]7:00PM Frankfurt, Paris; 1:00 PM New York – The euro zone economy expanded at 0.4% in the 16-nation region and at 0.2% in the wider 27-nation region. Economies in Germany expanded at 0.7%. Mondadori Editore nine months net profit falls 54%. Benetton Group third quarter net up on higher sales. Dexia swings to third quarter profit. Porsche SE sees loss of €4.4 billion.[/R]

Euro-zone of 16 nations reported third quarter economic growth of 0.4% from the second quarter according to the latest data from the statistics office of European Union. In the wider region of 27 nations the economy expanded at 0.2%.

The euro-zone economy declined at 4.1% in the quarter from a year ago after it fell at 4.8% in the second quarter.

In London FTSE 100 Index closed higher 19.88 or 0.38% to 5,296.38, in Paris CAC 40 Index decreased 2.06 or 0.05% to close at 3,806.01, in Frankfurt DAX index higher 22.87 or 0.40% to close at 5,686.83. In Zurich trading SMI decreased 4.68 or 0.07% to close at 6,351.08.

Gainers & Losers

Accor SA gained 3.0% to €35.27 after the hotel company was upgraded to “buy” from “add” at Natixis SA.

Arnoldo Mondadori Editore SpA decreased 0.6% to €3.23 an editorial group said nine months sales fell 19% to €1.11 billion from €1.37 billion a year ago. Net profit for the nine months fell 54% to €27.1 million or €0.11 per diluted share compared to net profit of €58.8 million or €0.25 per share a year ago.

Benetton Group S.p.A declined 1.4% to €6.77 after the clothing retailer said third quarter revenues rose 13% to €609 million from €538 million a year ago. Net profit for the quarter rose 46% to €54 million compared to net profit of €37 million a year ago.

Bulgari SpA added 4.3% to €6.25 after the luxury jeweler said third quarter revenues fell 9% to €233.2 million from €256.2 million a year ago. Net profit for the quarter fell 69.6% to €7 million compared to net profit of €23 million a year ago.

Compagnie Financiere Richemont SA the luxury goods company said first-half revenues fell 14.3% to €2.4 billion from €2.8 billion a year ago. Net profit for the first-half fell 60% to €344 million or €0.62 per diluted share compared to net profit of €862 million or €1.53 per share a year ago.

Conergy AG closed unchanged at €0.74 after the solar company said third quarter net loss for the quarter was €20 million compared to net loss of €77.5 million a year ago.

Dexia SA fell 0.3% to €5.67 after the bank said third quarter revenues rose 334.6% to €1.37 billion from €315 million a year ago. Net profit for the quarter was €274 million or €0.16 per diluted share compared to net loss of €1.54 billion or €1.34 per share a year ago.

Drillisch AG the mobile-phone company rose 2.1% to €4.76.

Fomento de Construcciones y Contratas SA the construction and environmental services company said nine months sales fell 8.8% to €9.3 billion from €10.2 billion a year ago. Net profit for the nine months fell 32% to €201.9 million compared to net profit of €297.1 million a year ago.

Groupe Vial SA the discount carpenter plunged 22.6% to €4.03.

Iberia Lineas Aereas de Espana SA the airline operator said third quarter revenues fell 19.6% to €1.17 billion from €1.46 billion a year ago. Net loss for the quarter was €16.4 million or €0.02 per diluted share compared to net profit of €30.4 billion or €0.03 per share a year ago.

Indra Sistemas SA an information technology company said nine months revenues rose 6% to €1.88 billion from €1.77 billion a year ago. Net profit for the nine months rose 7.7% to €151.6 million or €0.94 per diluted share compared to net profit of €140.7 million or €0.88 per share a year ago.

KBC Groep NV rose 0.2% to €31.90 after the provider of banking, insurance and wealth management said third quarter net interest income rose 33.3% to €1.6 billion from €1.2 billion a year ago. Net profit for the quarter was €528 million or €1.56 per diluted share compared to net loss of €906 million or €2.65 per share a year ago.

MediGene AG fell 1.5% to €3.87 after the pharmaceuticals company said first nine months revenue increased 12% to €28.6 million from €25.5 million a year ago.

Natixis SA declined 5.2% to €4.04 after the bank said third quarter net banking income rose 1.5% to €1.35 billion from €1.33 billion a year ago. Net profit for the quarter was €268 million compared to net loss of €234 million a year ago.