Europe's main markets have opened lower with French consumer magazine publisher Lagardere leading the fallers in Paris.

Lagardere is almost 6% lower after the group reported weaker than expected full-year results and forecast a 10% drop in operating profit this year.

The country's largest publisher with titles including Elle, reported a 9.5% fall in full-year profits, worse than analysts had been anticipating.

Banks are also lower, with Societe Generale, BNP Paribas, Credit Agricole and UBS on offer.

Across the markets, the Dax in Frankfurt is down 11 points to 5,926 and the Cac in Paris is 17 points lower at 3,926. The Swiss market has dropped 2 points to 6,871.

Elsewhere in the world, Japan's economy grew less than previously thought in the last quarter of 2009, new figures show, demonstrating that recovery in the Asian country may be weaker than thought.

The economy is now estimated to have grown at a pace of 0.9% during the year rather than the previously thought 1.1%.


CAC 40 - Risers
PPR (PP) € 90.86 +0.96%
Peugeot (UG) € 21.60 +0.63%
Accor (AC) € 39.10 +0.46%
Veolia Environnement (VIE) € 23.82 +0.42%
Essilor International (EI) € 46.63 +0.41%
GDF Suez (GSZ) € 28.20 +0.39%
Carrefour (CA) € 36.58 +0.38%
Technip (TEC) € 56.15 +0.27%
Michelin (ML) € 56.67 +0.23%
Pernod Ricard (RI) € 59.97 +0.03%

CAC 40 - Fallers
Lagardere SCA (MMB) € 26.85 -5.72%
Alstom (ALO) € 49.64 -1.66%
Societe Generale (GLE) € 44.13 -1.48%
ArcelorMittal SA (MT) € 30.79 -1.41%
BNP Paribas (BNP) € 56.70 -1.34%
AXA (CS) € 15.93 -1.24%
Alcatel-Lucent (ALU) € 2.51 -1.10%
ST Microelectronics (STM) € 6.75 -1.00%
Credit Agricole (ACA) € 11.91 -0.87%
LVMH (MC) € 85.69 -0.84%

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