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European Stocks to Watch: Norilsk Nickel

Shares in Russian-owned Norilsk Nickel were being quoted over the counter at $201, above their April peak, as the world's largest nickel and palladium miner said its 2006 net profit more than doubled due to record prices in the metals.

The company's sale of a stake in South African miner Gold Fields also helped to boost the bottom line, the company announced in a press release.

Analysts are predicting a strong 2007 for the metal miner, despite a recent decline in price for the commodity.

Rexam (Down 2.8%) Shares in the world's largest can maker fell as it confirmed it was in takeover talks with the plastics division of U.S. packaging company Owens-Illinois.

Gemina (Down 7%) Italian holding company Gemina is set to discuss a possible offer for Macquarie Airport's 45% stake in Rome airport Aeroporti di Roma on Friday.

LG.Philips LCD (Up 1.6%) Market speculation that Philips could sell 14% of the South Korean flat-screen maker to Japan's Toshiba helped to boost the technology company's stock.

Club Med (Up 2.7%) The French holiday firm saw a positive reaction to news that lower financial charges partially offset a sharp drop in its first-half operating earnings.

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