© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
January 16, 2013 10:16 pm
A bullish call on Wartsila from analysts at UBS encouraged investors to buy into the Finnish marine engingeering group.
UBS raised its price target on Wartsila’s shares from €25 to €32.
The shares climbed to the top of the FTSE Eurofirst 300 leaderboard, rallying 4.9 per cent to €35.84.
Red Eléctrica, the Spanish power grid operator, was given a boost after analysts at Cheuvreux moved the stock from “outperform” to their “selected” list.
The shares climbed 3.8 per cent to €43.91, against a 0.2 per cent fall on the Ibex 35 index to 8,581.1.
Heavy demand for Lanxess pushed its shares higher after the German speciality chemicals company confirmed its outlook for the 2012 financial year.
The group expects adjusted earnings before interest, tax, depreciation and amortisation (ebitda) to come in around the lower end of its five to ten per cent growth range.
Lanxess suffered a sharp drop in net income during the year due in large part to its exposure to the European tyre market. The shares gained 3 per cent to €63.33.
Investors paid no heed to pessimistic outlooks for Fresenius from analysts at UBS and Kepler. The two banks respectively cut their ratings on the German healthcare group from €101 to €99 and from €66 to €61. Fresenius’ shares shrugged off the downgrades, climbing 3 per cent to €85.90
Adidas received a fillip after Nomura increased its target price on the sport retailer’s shares from €74 to €85 with a “buy” rating.
“In our view, while 2012 had the European football championships and the Olympics, Adidas group has proved previously that in non-event years it can still drive growth, both sales and margins through product innovation and company initiatives,” analysts wrote in a note to clients.
The German benchmark Xetra Dax rose 0.2 per cent to 7,691.13.
The broader pan-European FTSE Eurofirst 300 index closed largely flat at 1,159.95.
Copyright The Financial Times Limited 2014. You may share using our article tools.
Please don't cut articles from FT.com and redistribute by email or post to the web.