Europe Market Report 5/23/06 BAB, BT, HBC, RTRSY, BAY, BF, DT, SAP, SI, AXA

Shares in the UK, Germany and France were up about 1% at 7 AM EST lead by oil and commodities stocks. The FTSE was up 63 points to 5,596. Shares in British Airways were up 1.6% to 334. BT Group was of 1.3% to 221. BP was up 2.7% to 626 as oil prices rose. HSBC was up .77% to 921. Marks and Spencer was off over 8% to 1820. Shares in Reuters were up .53% to 377. And, WPP share rose .78% to 647.

The Daxx rose 1% to 5,602. Shares in Bayer were up 3% to over 34. Shares in BASF rose almost 2% to over 63. Deutsche Telekom was flat at 12.5. SAP rose 1.3% to over 166. And, Siemens was up 1.6% to over 68.

In France, the CAC 40 was up 1.3% to 4,878. Shares in AXA were up 1.5% to almost 27. Cap Gemini was up over 2% to over 41. L'Oreal rose 1.6% to over 69. Michelin was up 1.7% to over almost 50%. And, Total was up 2% to almost 51.

Indices in Scandinavia over 3%.

Douglas A. McIntyre