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May 14, 2007, 11:54 a.m. EDT

European stocks end lower despite Nokia rise

Shares in DaimlerChrysler, Nokia advance; Atos Origin sinks

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By Sarah Turner, MarketWatch

LONDON (MarketWatch) -- European shares ended lower on Monday as weakness in the metals sector offset gains for DaimlerChrysler on the sale of most of its Chrysler unit and Nokia after the mobile phone maker upped its market-share forecast.

The pan-European Dow Jones Stoxx 600 index declined 0.2% at 388.96, with mining shares down 1.8%. Rio Tinto shares /zigman2/quotes/208934945/delayed UK:RIO +2.27% fell 3.5% and Lonmin shares dropped 3.4%. See London Markets.

DE:710000

However, shares in German car giant DaimlerChrysler advanced 1.8% in Frankfurt, boosting sentiment throughout the autos sector, after private-equity firm Cerberus agreed to buy most of Chrysler Group from DaimlerChrysler for $7.4 billion. See full story.

Peugeot shares improved 1.1% and Renault gained 2.5%.

Nokia /zigman2/quotes/207421390/composite NOK -0.61% shares got a lift in the afternoon, along with the rest of the technology sector, after the mobile-phone maker said it has raised its market-share outlook for mobile devices for the second quarter and it now expecting market share to improve from the first quarter's 36%. See full story.

Nokia shares rose 4.8%, shares of competing phone- and phone-network maker Ericsson /zigman2/quotes/207544813/delayed SE:ERIC.B +0.22% /zigman2/quotes/208932705/composite ERIC 0.00% rose 2.5% and shares of Nokia microchip supplier STMicroelectronics /zigman2/quotes/207734906/composite STM -2.72% advanced 1.2%.

By region, the German DAX Xetra 30 index /zigman2/quotes/210597999/delayed DX:DAX +0.33% fell 0.3% at 7,459.61, the French CAC-40 index lost 0.4% at 6,026.42 and the U.K. FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX +0.62% slipped 0.2% at 6,555.50.

Noting the Chrysler deal, Gerhard Schwarz, a strategist at HVB Corporates & Markets, said that private-equity-inspired restructuring is in full swing in Europe and remains an important driver of the equity market.

The Financial Times reported Monday that private equity firm Kohlberg Kravis Roberts has signed $122.5 billion worth of deals since January, including the takeover of TXU and British pharmacy chain Alliance Boots .

Goldman Sachs was the second most active private equity deal participant, signing deals worth $56.2 billion, the paper reported, citing data from Dealogic.

"A lot of the deals that have been rumored involve some sort of break-up or split-up. In some ways, companies are also doing this, for example Merck," he added.

After early gains, shares of pharmaceutical Merck KGaA declined 0.7%. It agreed to sell its generic drug unit to Mylan Laboratories Inc , the Pittsburgh pharmaceutical producer, for 4.9 billion euros, or about $6.7 billion. See full story.

Endemol stake sold

Silvio Berlusconi's Mediaset has led a consortium including Gestevision Telecinco, Cyrte Fund and Goldman Sachs Capital Partners in buying Telefonica's /zigman2/quotes/207034643/composite TEF +3.54% 75% stake in Endemol for 2.63 billion euros, or 25 euros a share. The consortium will bid 25 euros a share for the rest of Endemol.

Shares of Endemol, the producer of "Deal or No Deal" and "Big Brother," ended 0.6% lower at 24.50 euros as the deal was widely anticipated. See full story.

/zigman2/quotes/208934945/delayed
UK : U.K.: London
5,667.00 p
+126.00 +2.27%
Volume: 464,535
May 25, 2022 11:23a
P/E Ratio
6.03
Dividend Yield
12.54%
Market Cap
£92.37 billion
Rev. per Employee
£935,616
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/zigman2/quotes/207421390/composite
US : U.S.: NYSE
$ 4.90
-0.03 -0.61%
Volume: 33.97M
May 24, 2022 4:00p
P/E Ratio
15.27
Dividend Yield
0.30%
Market Cap
$27.99 billion
Rev. per Employee
N/A
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/zigman2/quotes/207544813/delayed
SE : Sweden: Stockholm
kr 77.92
+0.17 +0.22%
Volume: 1.78M
May 25, 2022 12:24p
P/E Ratio
11.57
Dividend Yield
3.21%
Market Cap
kr263.88 billion
Rev. per Employee
kr2.34M
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/zigman2/quotes/208932705/composite
US : U.S.: Nasdaq
$ 7.98
0.00 0.00%
Volume: 6.99M
May 24, 2022 4:00p
P/E Ratio
10.41
Dividend Yield
2.04%
Market Cap
$26.85 billion
Rev. per Employee
$266,284
loading...
/zigman2/quotes/207734906/composite
US : U.S.: NYSE
$ 38.25
-1.07 -2.72%
Volume: 3.64M
May 24, 2022 4:00p
P/E Ratio
14.93
Dividend Yield
0.53%
Market Cap
$35.68 billion
Rev. per Employee
$275,438
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
13,965.58
+45.83 +0.33%
Volume: 16,998
May 25, 2022 12:24p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,530.86
+46.51 +0.62%
Volume: 160,989
May 25, 2022 11:24a
loading...
/zigman2/quotes/207034643/composite
US : U.S.: NYSE
$ 5.27
+0.18 +3.54%
Volume: 2.72M
May 24, 2022 4:00p
P/E Ratio
3.06
Dividend Yield
3.02%
Market Cap
$28.33 billion
Rev. per Employee
$428,112
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