BP, Barclays, Fiat, Novartis, Siemens, Telefonica: Europe 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 slipped 1.9 percent to 248.11. The Stoxx 50 Index declined 2.1 percent to 2,404.88. The Euro Stoxx 50 Index, a benchmark for nations using the euro, dropped 2.1 percent to 2,645.61.
Allianz SE (ALV GY): Europe’s biggest insurer may increase its business in eastern Europe by making acquisitions, Die Welt reported, citing an interview with regional head Manuel Bauer. The shares declined 1.7 percent to 84.80 euros.
Barclays Plc (BARC LN): The U.K.’s third-largest bank sold $75 million of 15-year callable step-up notes, according to a prospectus filed on July 16 with the U.S. Securities and Exchange Commission. The shares fell 5.2 percent to 284.65 pence.
BP Plc (BP/ LN): The oil company plans to keep its Gulf of Mexico well sealed with a tight-fitting cap until it permanently plugs the leak next month, preventing any more oil from flowing into the sea. The shares rose 5.4 pence, or 1.3 percent, to 407.15 pence.
Club Mediterranee SA (CU FP): The French travel company may be bought by BMB Group in a transaction valuing it at about 800 million euros, the Sunday Times said, citing unidentified people familiar with the matter. Thierry Orsoni, a spokesman for Club Med, declined to comment when contacted by telephone. The shares jumped 4.3 percent to 14.28 euros.
Dexia SA (DEXB BB) and KBC Groep NV (KBC BB): The Belgian lenders have passed their stress tests, L’Echo said, citing unidentified sources. Dexia, Belgium’s largest bank by assets, fell 3.3 percent to about 3.14 euros. KBC, Belgium’s biggest bank and insurer by market value, dropped 4.2 percent to 32.75 euros.
European Aeronautic, Defence & Space Co. (EAD FP): Airbus SAS, the world’s largest aircraft maker, can double the 131 orders it received in the first half during the Farnborough Air Show as global travel rebounds, Airbus Chief Operating Officer John Leahy told reporters. Louis Gallois, the chief executive officer of EADS, the parent company of Airbus, said he is confident of winning a $35 billion U.S. Air Force refueling- tanker order. EADS fell 0.8 percent to 16.42 euros.
Fiat SpA (F IM): The Italian carmaker that runs Chrysler Group LLC agreed with banks to refinance 4 billion euros ($5.2 billion) of debt before the spinoff of its industrial unit, Il Sole 24 Ore reported. The stock fell 0.3 percent to 9.26 euros.
Finmeccanica SpA (FNC IM): Italy’s biggest defense company is preparing a bid with Fincantieri SpA for a 5 billion-euro order from Brazil to supply warships.
Separately, the company said in a stock-exchange statement that Chief Executive Officer Pier Francesco Guarguaglini was not involved in any transaction involving Digint shares. His role in the venture was of “strategic and technological evaluation,” it said. Finmeccanica dropped 1.7 percent to 8.58 euros.
Fuchs Petrolub AG (FPE3 GY): The German maker of lubricants’ 2010 dividend will at least match the previous year’s payout of 1.70 euros ($2.20) a share, Chief Executive Officer Stefan Fuchs told Frankfurter Allgemeine Sonntagszeitung in an interview. The shares declined 2.2 percent to 75.67 euros.
GDF Suez SA (GSZ FP): The operator of Europe’s largest natural-gas network is planning a 6.4 billion-pound ($9.8 billion) cash offer for International Power Plc, the Mail on Sunday reported, citing unidentified people familiar with the matter. Paul-Alexis Bouquet, a spokesman for GDF Suez, declined to comment. The shares shed about 4 percent to 24.32 euros.
Heidelberger Druckmaschinen AG (HDD GR): The world’s largest maker of printing presses said preliminary orders in the first quarter rose 43 percent from a year earlier to 786 million euros, helped by increasing demand in China. The stock fell 3.2 percent to 7.41 euros.
Land Securities Group Plc (LAND LN): The U.K.’s largest real estate investment trust is expected to begin building Trinity Leeds, a one million square foot shopping mall in the northern city, the Sunday Telegraph reported, without attribution. The shares fell 0.9 percent to 573 pence.
Novartis AG (NOVN VX): The Swiss drug maker’s offer to buy stock from minority shareholders of Alcon Inc. is “fair” toward investors in both companies, Chief Executive Officer Joe Jimenez told Finanz und Wirtschaft in an interview. Novartis fell 80 centimes, or 1.5 percent, to 52.40 francs.
Siemens AG (SIE GY): Europe’s largest engineering company said it won a contract to supply 68 turbines for the Griffin wind farm being built by Scottish & Southern Energy Plc’s SSE Renewables. The stock slipped 1.1 percent to 74.23 euros.
Stallergenes SA (GENP FP): Europe’s second-largest maker of allergy medicines could raise as much as 100 million euros in a stock sale to help finance acquisitions if opportunities arise, Investir said, citing Chief Executive Officer Albert Saporta. The shares jumped 3.3 percent to 56.80 euros.
Telefonica SA (TEF SM): The Spanish phone company turned down a request from Portugal Telecom SGPS SA (PTC PL) to extend to July 28 its 7.15 billion-euro offer for the Portuguese company’s stake in Brazil’s largest wireless company.
Telefonica had considered raising its offer for the Vivo stake a third time to 7.5 billion euros, El Pais said, citing unidentified people familiar with the negotiation. Telefonica fell 1.6 percent to about 16.17 euros. Portugal Telecom dropped 4.5 percent to 8.05 euros.
To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net
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