we saw it with Renault the other day and Valeo this morning," said Andrea Williams, head of European equities at Royal London Asset Management. Shares in Valeo closed 3 percent firmer after the company posted a drop in 2004 profits due to soaring costs for steel and other inputs, but said it was hoping for sales growth of 2 to 3 percent this year. "Overall we're still pretty happy with the market. We still think it looks reasonable value even though it has come up quite a bit," Williams said, adding that bonds looked over-priced. --More 2301 Local Time 2001 GMT
