AFX European summary - midday Monday, January 22 2007

AFX European summary - midday Monday, January 22 2007

	Published : Mon, 22 Jan 2007 18:50 By : Agencies Print this Story

LONDON (AFX) - AFX European summary - midday

LONDON (AFX) - Leading shares remained higher at midday, extending gains ahead of an expected firm start on Wall Street, while miners support in the UK and ongoing bid speculation boosts shares in InterContinental Hotels and ICI, dealers said.

At 11.57 am, the FTSE 100 index was up 26.9 points at 6,264.1, while the broader indices also traded on positive terrain.

Volume was solid with 826.4 mln shares changing hands in 150,093 deals.

FRANKFURT (AFX) - German shares were flat in midday trading on a lack of direction, traders said.

At 12.34 pm, the DAX was up 3.44 points or 0.05 pct to 6,750.61, trading between 6,742.43 and 6,766.57, with the MDAX adding 39.24 points or 0.41 pct to 9,693.23. The TecDAX gained 9.46 points or 1.20 pct to 800.64, and the DAX futures contract added 8 points or 0.12 pct to 6,787.00.

PARIS (AFX) - Share prices were up at midday, led by gains by Vinci and Vallourec, as M&A talk and analysts' recommendations continued to be the dominant market influences, dealers said.

At 12.06 pm, the CAC-40 index was up 19.00 points or 0.34 pct at 5,633.70 on volume of 1.7 bln eur.

AMSTERDAM (AFX) - Shares in Amsterdam were almost unchanged from last Friday, with Philips down after reporting lower-than-expected underlying earnings, dealers said.

At 11.50 pm, the AEX was up 0.06 pct or 0.31 points at 507.44, after opening at 508.40.

MILAN (AFX) - Share prices were slightly higher at midday, with major gains in banking sector stocks as well as Fiat, while Alitalia slumped amid reports that Air France-KLM may not make a bid for the ailing airline, dealers said.

At 12.25 am the Mibtel index was up 0.28 pct at 32,508 while the S&P/Mib index rose 0.34 pct at 42,268 on volumes of some 2.4 bln eur.

MADRID (AFX) - Share prices were higher in early afternoon trade, tracking positive US futures, with Acciona leading gainers as speculation of an improved bid for Endesa from E.On AG gathered pace, dealers said.

At 12.40 pm, the IBEX-35 index was up 84.2 points to 14,481.7, on turnover of about 2.8 bln eur.

STOCKHOLM (AFX) - Shares were higher in midday trade led by mining stocks on firmer commodity prices, but with gains extending throughout the market following a strong overnight performance on Asian markets overnight and on positive Wall Street futures, brokers said.

At 12 pm, the OMX Stockholm index was up 0.78 pct at 388.14 hitting fresh six-year highs, and the OMX Stockholm 30 up 0.79 pct at 1,189.89. Turnover was 9.979 bln skr.