January 29, 2009 / 8:20 AM / 10 years ago

STOCKS NEWS EUROPE-France's Thomson SA sinks on debt fears

STOCKS NEWS Reuters Results diary

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08:19GMT 29Jan2009-France’s Thomson SA drops on debt fears

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Shares in French media technology Thomson SA TMS.PA tumble 13.4 percent -- the biggest losers on Paris's broad SBF 120 .SBF120 -- after the company warns it is likely to breach one of its debt covenants.

“They are finally admitting that they haven’t found any solution to their problems. That means they couldn’t agree with banks and they couldn’t find a buyer,” one analyst says.

“They are not out of the woods, and the stock could fall to its historical low of 80 cents reached in December.”

By 0813 GMT, volumes on Thomson SA shares already represented 64 percent of the stock’s 90-day average daily volume, compared with 5.8 percent for the SBF 120. The stock tumbled 90 percent in 2008.

Reuters Messaging rm://blaise.robinson.reuters.com@reuters.net

07:48GMT 29Jan2009-European futures point to lower start

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European stock index futures point to a lower open as commodity shares are seen tracking weaker metals and crude prices, but U.S. President Barack Obama’s first major legislative victory with the passage of an $825 billion economic stimulus package may help cap losses.

Futures for the DJ Euro Stoxx STXEc1, for Germany’s DAX FDXc1 and for France’s CAC FCEc1 are down between 0.4 percent and 0.5 percent. Financial spreadbetters earlier forecast European shares to open marginally higher.

Energy shares may come under pressure as crude prices fall 1.5 percent to trade below $42 a barrel, as fears over faltering demand in the global economy outweigh U.S. data showing lower gasoline and distillate stocks in the world’s top energy consumer.

Reuters messaging rm://atul.prakash.reuters.com@reuters.net

rm://joanne.frearson.thomsonreuters.com@reuters.net

07:39GMT 29Jan2009-Centrotherm seen up; CFO positive about 2009

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Shares in Centrotherm Photovoltaics CTNG.DE are indicated 1.8 percent higher in pre-bourse trade, boosted by the German solar power equipment maker’s positive comments about its year ahead and as its chief financial officer says he expects a recovery for the solar market in 2010.

“By the end of September, the company’s order backlog was more than 1 billion euros and Statements from CFO could work positive for sentiment in CTN,” a Frankfurt-trader says.

The company’s confident outlook is based on the strong order backlog, Chief Financial Officer Oliver Albrecht said in an interview.

For more double click on [ID:nLS389246]

Reuters Messaging rm://tyler.sitte.thomsonreuters.com@reuters.net

07:17GMT 29Jan2009-Wirecard seen up on FY 2008 results

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Shares in German payment systems provider Wirecard (WDIG.DE) are indicated 5 percent higher in pre-bourse trade, after the company releases positive preliminary full-year 2008 results.

“Normally, (the) share reacts very positive on the announcement day of its preliminary figures,” a local trader says.

The company says preliminary full-year sales rise by 47 percent to 196.8 million euros ($260.5 million) and it expects EBIT growth of 10-25 percent for the fiscal year 2009. For more double click on [ID:nWEA3883]

Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net

$1=.7555 Euro

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