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Finmeccanica, Sacyr Vallehermoso, Scor: European Equity Preview

By Nadja Brandt

Dec. 30 (Bloomberg) -- The following companies may have unusual price changes in European trading. Stock symbols are in parentheses, and share prices are from the previous close.

The Dow Jones Stoxx 600 climbed 0.2 percent to 193.46. Dow Jones Stoxx 50 Index added 0.4 percent to 2,023.26. The Euro Stoxx 50 Index, a benchmark for the nations using the euro, increased 0.3 percent to 2,388.30.

Agora SA (AGO PW): Poland’s largest publisher plans to cut 300 jobs, or 7.5 percent of its staff until end of July 2009 to trim costs during economic slowdown. Agora said it will set aside as much as 8.5 million zloty ($2.9 million) in reserves, which will be included into the 2008 fourth-quarter group results, to cover costs of layoffs. Agora dropped 0.6 percent to 16.08 zloty.

Finmeccanica SpA (FNC IM): Italy’s biggest defense company said its Telespazio unit won a 34-million-euro ($48.3 million) contract to provide satellite telecommunications services to DRS Technologies. The shares rose 19 cents, or 1.8 percent, to 10.81 euros.

Sacyr Vallehermoso SA (SYV SM): The Spanish construction company is still in talks to sell a 20 percent stake in Repsol YPF to Russia’s OAO Lukoil, Reuters reported, citing a person at Sacyr whom it didn’t name. Sacyr declined to comment. The shares fell 30 cents, or 4.5 percent, to 6.35 euros.

Scor SE (SCR FP): France’s biggest reinsurer appointed 39- year-old Frieder Knupling as deputy chief risk officer. The shares rose 80 cents to 15.45 euros.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net

Last Updated: December 30, 2008 00:01 EST

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