Friday March 27, 11:44 AM
Glance-STOCKS NEWS EUROPE-Solaria off highs; China cheer overdone
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Stocks on the move Real (Frankfurt: BJU.F - news) -time Equity News
11:25GMT 27March2009-Solaria off highs; China cheer overdone
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Shares in Spain's Solaria soar more than 23 percent to 1.78 euros
on short-covering, but are off a session high of 1.89 euros as investors cool to
the potential impact of China's subsidies for solar projects on the Spanish
company.
'Solaria is up on short-covering after the China news, although Solaria
itself has no exposure to China, nor any current plans to enter the market,' a
Madrid-based trader says.
An analyst in Spain says: 'We believe Solaria is over-reacting to the news
as Solaria does not sell any megawatts in China nor is it competitive enough to
enter this market, in our view.'
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