European shares rise, with the FTSE-100 eking out a gain as
bullish UK sales data slightly overshadowed a warning from Royal
Dutch (RDS.A), which is a heavyweight in the index.
UK retail sales including fuel increased 2.6% in December from
November, posting the strongest December since records began in
1996. The median forecast of 22 economists in a Bloomberg News
survey was for a 0.3% gain last month. Department stores posted a
record 8.7% increase in sales.
RDS.A warned Q4 profit is expected to be "significantly lower
than recent levels".
In other news, France's budget deficit missed the official
forecast. It was EUR74.9 billion ($101.94 billion), higher than the
official forecast of EUR72.1 billion, yet down EUR12 billion from a
The eurozone's construction output fell by 0.6% from October,
and 1.7% from November 2012. Output also fell in September and
October, having been higher in Q3 compared to the three months to
Among ADRs, Shire (
) says it is divesting its dermagraft assets, worth $683 million,
to Organogenesis Inc. SHPG receive any upfront payment from
Organogenesis, but is entitled to get up to $300 million cash
milestone payments should Organogenesis meet certain annual net
sales targets between now and 2018. SHPG will record a loss on the
disposal and associated impairment charges of $650 million in
) is upgraded to buy from neutral at Citigroup.
The FTSE-100 was last up 0.2% at 6,829.30, the DAX up 0.26% at
9,742.96 and the CAC-40 up 0.19% at 4,327.50.
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