STOCKS NEWS EUROPE-Commerzbank down; government to take stake

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16:31GMT 08Jan2009-Commerzbank down; government to take stake

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Shares in Commerzbank (CBKG.DE) down 10.9 percent, having fallen more than 20 percent to reach a record low of 4.79 euros earlier Thursday, after the company says German rescue fund SoFFin will provide additional equity of 10 billion euros and the Federal Government will take a 25 percent plus one share stake in the bank.

Traders say the news is weighing on the stock, but pointed out that Commerzbank's takeover of Allianz's (ALVG.DE) Dresdner Bank was now 'financially secure.'

Commerzbank says the planned measures are subject to the approval by the appropriate boards.

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16:24GMT 8Jan2009-Heijmans shares up 46 pct after land sale

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Heijmans (HEIJ.AS) shares rise strongly for a third consecutive day, up 46 percent as analysts say investor concerns about Heijmans debt has receded after a land sale estimated to be worth up to 40 million euros.

"This kind of transaction makes people think that Heijmans is working on some debt restructuring," says ING analyst Tijs Hollestelle, adding that short covering may also be pushing shares higher.

Heijmans announced the land sale on Tuesday, when shares rose 18 percent, without giving financial details and SNS Securities analyst Edwin de Jong says the sale's proceeds could be between 30 and 40 million euros.

Theodoor Gilissen analyst Tom Muller says there could also be takeover rumours, citing Dutch peers Ballast Nedam (BALNc.AS) and unlisted Strukton as potential partners, because the trade volume in Heijmans shares is very high, with about 1.7 million shares changing hands.