ACS, Azkoyen, Banimmo, Carrefour, Epiq, Mapfre: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses and prices are from the last close.
The Stoxx Europe 600 Index fell 0.2 percent to 248.09. The Stoxx 50 Index rose 0.1 percent to 2,424.79. The Euro Stoxx 50 Index, a benchmark for nations using the euro, gained 0.1 percent to 2,635.34.
Actividades de Construccion y Servicios SA (ACS SM): The builder is considering selling between 750 million euros and 1.5 billion euros of long-term bonds to retail investors. The sale could be of convertible bonds, the Madrid-based company said in a regulatory filing. The shares fell 0.8 percent to 30.51 euros.
Azkoyen SA (AZK SM): Spain’s largest vending-machine maker said its first-quarter loss widened to 1.9 million euros from a loss of 0.5 million euros a year earlier. Sales slumped 17 percent to 36.9 million euros, it said. The shares gained 0.4 percent to 2.62 euros.
Banimmo SA (BANI BB): The real-estate developer controlled by France’s Affine SA said first-quarter rental income declined 20 percent to 4.12 million euros ($5.09 million) and reported a “substantial” recovery of occupancy rates at its conference centers. The developer also said it had drawn 75.2 million euros on its syndicated credit facility on May 18. Banimmo increased 0.1 percent to 15.92 euros.
Carrefour SA (CA FP): The world’s second-largest retailer agreed to buy Turkish supermarket chain Ipek for about 24 million euros. The shares fell 0.5 percent to 34.53 euros.
Cie. d’Entreprises CFE SA (CFEB BB): The construction company that owns half of Dredging Environmental & Marine Engineering NV said first-quarter revenue fell 4 percent to 374.2 million euros. Net debt soared 71 percent in the quarter to 261 million euros at the end of March. CFE lost 3.1 percent to 37.42 euros.
Cie. Nationale a Portefeuille SA (NAT BB): Belgian billionaire Albert Frere’s main publicly traded investment firm agreed to sell its indirectly held 31 percent stake in Lyparis/Go Voyages SA to a group of investors led by Axa Private Equity and said it will record a gain of about 50 cents a share on the transaction. Nationale a Portefeuille dropped 0.8 percent to 35.35 euros.
Epiq NV (EPI BB): The Belgian contract maker of sensors and other electronics for the car industry said first-quarter net income rose 10-fold to 929,000 euros and forecast quarterly revenue of about 47 million euros for the remainder of 2010. Epiq was unchanged at 1.23 euros.
Jensen-Group NV (JEN BB): The Belgian-Danish maker of heavy-duty laundry equipment said first-quarter revenue rose 11 percent to 55.5 million euros and forecast a “good” first half as the value of outstanding orders at the end of March jumped 37 percent from a year earlier. Jensen-Group was unchanged at 7.42 euros.
Mapfre SA (MAP SM): The Spanish insurer is seeking a 500 million-euro loan to finance its operations, Reuters reported, citing unidentified people in the banking industry. The shares fell 4.1 percent to 2.22 euros.
RHJ International SA (RHJI BB): The investment firm led by Leonhard Fischer, former head of Dresdner Kleinwort, said it won conditional approval from regulators in the U.K. and Guernsey to take over Commerzbank AG’s Kleinwort Benson wealth-management unit and expects to complete the transaction in July. RHJ International tumbled 4.6 percent to 6.30 euros.
Solvay SA (SOLB BB): The chemicals and plastics maker that sold its drug division to Abbott Laboratories said it spent 4.45 million euros buying back an additional 64,000 shares on May 14. Solvay declined 0.8 percent to 68.67 euros.