LONDON (ShareCast) - European indices have opened mixed to firm, driven by demand for banks and energy stocks.

In France, integrated oil giant Total has clawed back some of its recent losses that were suffered in the wake of the gas leak at its North Sea rig.

Also on the comeback trail are banking stocks Societe Generale, Credit Agricole and BNP Paribas; the latter despite reports that Joachim von Schorlemer, head of the bank's operations in Germany, has left the bank after differences over strategy. Banking stocks took a hammering yesterday after disappointing manufacturing data.

In broker action Nomura has downgraded German chemicals firm K+S and Dutch speciality chemicals outfit Akzo Nobel.

In the foreign exchange markets, the dollar remains slightly bearish versus the majors. The Institute of Supply Management’s manufacturing index reading in the US yesterday, which came in better than expected, has increased appetite for risk assets. The euro/dollar is trading at $1.33486, cable (£/$) remains comfortably above $1.60, and the dollar/yen recovers from yesterday’s steep decline.

On the futures market the most actively traded contract for Brent crude is trading 60 cents lower at $124.83 a barrel.

CAC 40 - Risers
Accor (AC) € 27.77 +2.49%
EDF (EDF) € 17.45 +2.05%
Societe Generale (GLE) € 22.34 +1.89%
Carrefour (CA) € 18.46 +1.79%
Alcatel-Lucent (ALU) € 1.77 +1.78%
Credit Agricole (ACA) € 4.70 +1.64%
Renault (RNO) € 39.51 +1.28%
Alstom (ALO) € 30.46 +1.08%
BNP Paribas (BNP) € 36.03 +0.92%
Bouygues (EN) € 23.11 +0.83%

CAC 40 - Fallers
Legrand SA (LR) € 27.56 -1.50%
ST Microelectronics (STM) € 6.02 -0.92%
GDF Suez (GSZ) € 19.45 -0.61%
Danone (BN) € 52.68 -0.60%
Air Liquide (AI) € 101.95 -0.29%
Technip (TEC) € 88.92 -0.26%
Safran (SAF) € 28.00 -0.25%
L'Oreal (OR) € 92.76 -0.25%
PPR (PP) € 131.20 -0.23%
LVMH (MC) € 131.75 -0.23%

JH

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