EUROPEAN: bourses put on a strong rally on the first day of the reporting week to November 10, the sixth consecutive advance, on hopes of further interest rate cuts, but then went into sharp decline for two days before picking up, leaving markets mixed by close. The worst showing came in FRANKFURT, which had seen a particularly steep gain the previous week because of exceptional trading in carmaker VW, where the Xetra Dax was down 9.1% and pharmaceutical stocks, although seeing falls, outperformed. Drug majors Bayer and Merck KGaA slipped 1.4% and 1.9%, respectively. PARIS, where the CAC 40 dipped just 0.6%, saw bioMerieux decline 4.0% and Sanofi-Aventis fall 3.6%.
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A Vienna-based pharmaceutical company specializing in the commercialization and distribution of innovative medicines across Central and Eastern Europe, the Middle East, and North Africa.
Stock Commentary - Europe - week to Nov 10, 2008
EUROPEAN: bourses put on a strong rally on the first day of the reporting week to November 10, the sixth consecutive advance, on hopes of further interest rate cuts, but then went into sharp decline for two days before picking up, leaving markets mixed by close. The worst showing came in FRANKFURT, which had seen a particularly steep gain the previous week because of exceptional trading in carmaker VW, where the Xetra Dax was down 9.1% and pharmaceutical stocks, although seeing falls, outperformed. Drug majors Bayer and Merck KGaA slipped 1.4% and 1.9%, respectively. PARIS, where the CAC 40 dipped just 0.6%, saw bioMerieux decline 4.0% and Sanofi-Aventis fall 3.6%.
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Chairman, Sanofi Aventis UK
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