inside-analytics.com / Roundup for the largest European Directors' Dealings for the reporting week from 22 to 29-January-2012

Top 10 Largest Directors' Purchases:

1) BOURBON SA
Insider: De Chateauvieux, Jacques
Insider Relation: Chairman/CEO
Transaction Date: 19-January-2012
Transaction Volume: 22.019 mln eur
Notes: OTC
Amount of shares bought: 945,000
Average buying price: 23.30 eur
Last Price vs. buying price: +9.25%

2) ZODIAC AEROSPACE
Insider: Domange, Didier
Insider Relation: Chairman
Transaction Date: 17 - 23-January-2012
Transaction Volume: 3.596 mln eur
Notes: Paris
Amount of shares bought: 53,034
Average buying price: 67.80 eur
Last Price vs. buying price: -0.02%

3) RIBER
Insider: Goutard, Noël
Insider Relation: Chairman of the Management Board
Transaction Date: 19-January-2012
Transaction Volume: 1.163 mln eur
Notes: Paris
Amount of shares bought: 397,660
Average buying price: 2.92 eur
Last Price vs. buying price: -0.46%

4) X5 RETAIL GROUP NV
Insider: Balfe, Kieran 
Insider Relation: CFO
Transaction Date: 23-January-2012
Transaction Volume: 1.069 mln eur
Notes: Netherlands
Amount of shares bought: 65,400
Average buying price: 16.35 eur
Last Price vs. buying price: -1.47%

5) STANDARD DRILLING AS
Insider: Spetalen, Øystein Stray 
Insider Relation: Director
Transaction Date: 25-January-2012
Transaction Volume: 0.912 mln eur
Notes: Oslo
Amount of shares bought: 1,000,000
Average buying price: 0.91 eur

6) SCANARC ASA
Insider: Sandhaug, Ketil
Insider Relation: Director
Transaction Date: 23-January-2012
Transaction Volume: 0.619 mln eur
Notes: Oslo
Amount of shares bought: 2,790,500
Average buying price: 0.22 eur
Last Price vs. buying price: +0.07%

7) BECHTLE AG
Insider: Schick, Gerhard
Insider Relation: Chairman
Transaction Date: 25-January-2012
Transaction Volume: 0.520 mln eur
Notes: OTC
Amount of shares bought: 20,000
Average buying price: 25.99 eur
Last Price vs. buying price: +0.23%

8) VOESTALPINE AG
Insider: Schwarzkopf, Michael
Insider Relation: Member of the Supervisory Board
Transaction Date: 18-January-2012
Transaction Volume: 0.504 mln eur
Notes: Vienna
Amount of shares bought: 20,000
Average buying price: 25.21 eur
Last Price vs. buying price: +7.32%

9) MAYR-MELNHOF KARTON AG
Insider: Schwarzkopf, Michael
Insider Relation: Member of the Supervisory Board
Transaction Date: 19-January-2012
Transaction Volume: 0.504 mln eur
Notes: Vienna
Amount of shares bought: 7,400
Average buying price: 68.13 eur
Last Price vs. buying price: +6.47%

10) LONZA GROUP AG
Insider: Name not disclosed
Insider Relation: Non-Executive member of the Board of Directors
Transaction Date: 26-January-2012
Transaction Volume: 0.441 mln eur
Notes: Switzerland
Amount of shares bought: 10,000
Average buying price: 44.09 eur
Last Price vs. buying price: -2.53%

Top 10 Largest Directors' Sells:

1) BANCA MONTE DEI PASCHI SIENA
Insider: Caltagirone, Francesco Gaetano
Insider Relation: Vice-Chairman
Transaction Date: 19 - 20-January-2012
Transaction Volume: 29.781 mln eur
Notes:  Italian regulated market
Amount of shares sold: 136,260,000
Average selling price: 0.22 eur
Last Price vs. selling price: +36.39%

2) MULBERRY GROUP PLC
Insider: Davis, Godfrey P
Insider Relation: CEO
Transaction Date: 25-January-2012
Transaction Volume: 6.431 mln eur
Notes: London
Amount of shares sold: 334,602
Average selling price: 19.22 eur
Last Price vs. selling price: +12.48%

3) IMAGINATION TECHNOLOGIES GRP
Insider: Yassaie, Hossein
Insider Relation: CEO
Transaction Date: 27-January-2012
Transaction Volume: 5.525 mln eur
Notes: London
Amount of shares sold: 802,000
Average selling price: 6.89 eur
Last Price vs. selling price: +0.62%

4) NOVOZYMES A/S
Insider: Loft, Benny D.
Insider Relation: CFO
Transaction Date: 27-January-2012
Transaction Volume: 4.050 mln eur
Notes: Copenhagen
Amount of shares sold: 189,120
Average selling price: 21.41 eur
Last Price vs. selling price: -0.93%

5) BURCKHARDT COMPRESSION HLDG
Insider: Name not disclosed
Insider Relation: Executive Director/Executive Committee
Transaction Date: 20-January-2012
Transaction Volume: 3.629 mln eur
Notes: Switzerland
Amount of shares sold: 18,000
Average selling price: 201.61 eur
Last Price vs. selling price: -3.72%

6) COMPASS GROUP PLC
Insider: Green, Gary
Insider Relation: Executive Director
Transaction Date: 23-January-2012
Transaction Volume: 3.384 mln eur
Notes: London
Amount of shares sold: 458,750
Average selling price: 7.38 eur
Last Price vs. selling price: -4.25%

7) YANDEX NV
Insider: Boynton, John
Insider Relation: Director
Transaction Date: 20 - 24-January-2012
Transaction Volume: 2.765 mln eur
Notes: NASDAQ, is indirect
Amount of shares sold: 192,000
Average selling price: 14.40 eur
Last Price vs. selling price: +9.46%

8) QIAGEN NV
Insider: Schatz, Peer M
Insider Relation: CEO
Transaction Date: 19-January-2012
Transaction Volume: 2.599 mln eur
Notes: Netherlands
Amount of shares sold: 213,358
Average selling price: 12.18 eur
Last Price vs. selling price: +2.48%

9) COPERNICUS SECURITIES SA
Insider: Solan, Radoslaw
Insider Relation: CEO (subsidiary)
Transaction Date: 19-January-2012
Transaction Volume: 2.158 mln eur
Notes: Warsaw Stock Exchange, estimated price
Amount of shares sold: 62,145
Average selling price: 34.72 eur
Last Price vs. selling price: +1.68%

10) MULBERRY GROUP PLC
Insider: Mather, Roger
Insider Relation: Finance Director
Transaction Date: 25-January-2012
Transaction Volume: 2.017 mln eur
Notes: London
Amount of shares sold: 104,920
Average selling price: 19.22 eur
Last Price vs. selling price: +12.48%


About directors (corporate insiders):
Typically, directors (insiders) buy on weakness and sell on strength. Empirical evidence shows that directors' purchases tend to outperform the market while directors' sells tend to slightly underperform the market. Under certain circumstances, purchases or sells can lead to a strong price reaction. Directors' deals potentially convey private information to the market that has not already been discounted. In order to evaluate the conviction behind these transactions, 2iQ Research recommends to check the value of the trade, the hierarchical position of the insider, other dealings within the company, and also the news-flow.

About 2iQ:
2iQ Research (http://www.2iqresearch.com) specialises in behavioral finance analysis. The company tracks insider stock transactions, shareholdings and sharebuybacks and manages a database for professional investors at http://www.inside-analytics.com.

About the Directors' Dealings database (inside-analytics.com):
The database coverage totals 35 European countries, including the 15 established EU member states plus Finland, Poland, Switzerland, Norway, Turkey, Malta, Luxembourg, Czech Republic, Slovakia, Cyprus, Estonia, Latvia, Lithuania, Romania, Bulgaria, Hungary, Croatia, Slovenia, Iceland. More European countries will be added as soon as EU members implement the Transparency Directive 2004/109/EU of the European Parliament and of the Council. The site offers standardised data in real time and access to insider dealings across 6,000 companies and 35 European countries. In addition to searches and analysis by sector, country or customisable watch lists and email updates users can access the "Directors' Confidence Index", which is published bi-monthly in cooperation with the Financial Times Germany as "FTD-Insider-Index" - http://www.ftd.de/insider -. It reflects the confidence of European directors in their own shares, making it a valuable source of information for future stock market movements. Academic research proves that directors are excellent market timers.

European Directors' Dealings is available via real-time data feed, Email service, customizable webservice or via  standard web access. 

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Disclaimer:

Stock prices may rise or fall as directors buy or sell company shares.

This message is automatically generated by 2iQ Research GmbH, Frankfurt, Germany. 2iQ does not take any responsibility for the accuracy, completeness of this data. For terms of use please check: http://www.inside-analytics.com/terms.html. 

For this top10 statistics we do exclude transactions by issuers (sharebuybacks), parent companies, subsidiaries and affiliated companies.