Bulgari, Enel, Euler Hermes, Mediaset, Rio Tinto: 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 0.4 percent to 256.26. The Stoxx 50 Index lost 0.5 percent to 2,486.79. The Euro Stoxx 50 Index, a benchmark for nations using the euro, declined 0.5 percent to 2,752.93.

Bulgari SpA (BUL IM): The world’s third-largest jeweler reported second-quarter profit that missed analysts’ estimates on declining sales in Europe, and confirmed its full-year revenue forecast of at least 5 percent growth. The shares declined 0.2 percent to 6.29 euros.

Cie. de Saint-Gobain SA (SGO FP): Europe’s biggest supplier of building materials said first-half profit rose almost fourfold as it cut costs and sales rebounded, led by the U.S. and Asia. The shares rose 0.5 percent to 33.30 euros.

Colruyt NV (COLR BB): Belgium’s biggest discount food retailer said fiscal first-quarter revenue rose 8.5 percent to 1.8 billion euros ($2.35 billion). Colruyt lost 1.2 percent to 190.05 euros.

Conergy AG (CGY GY): Conergy reached an agreement with its creditors to extend outstanding loan payments to the end of 2011, allowing the Hamburg-based solar company to book an operating profit this year, it said in a statement. The shares rose 1.1 percent to 74 cents.

EDP-Energias de Portugal SA (EDP PL): The biggest utility in Portugal said in a regulatory filing it agreed to sell its Spanish electricity transportation assets to Red Electrica Corp. SA (REE SM) for 58 million euros. EDP’s stock rose 0.4 percent to 2.53 euros and REE’s shares retreated 0.3 percent to 33.48 euros.

Enel SpA (ENEL IM): The country’s largest utility posted a 31 percent decline in first-half profit as a gain linked to the purchase of a stake in Spanish power company Endesa SA wasn’t repeated. Enel will meet its 2010 debt target and the initial public offering of its Green Power unit is still targeted for October, Chief Executive Officer Fulvio Conti said. The shares rose 0.3 percent to 3.73 euros.

Euler Hermes SA (ELE FP): The world’s largest insurer of trade credit reported first-half net income of 147.4 million euros, up from 0.7 million euros a year earlier. The shares fell 0.4 percent to 58.51 euros.

Exmar NV (EXM BB): The operator of the world’s largest fleet of midsize gas tankers reported a second-quarter net loss of $35.2 million. Exmar rose 0.2 percent to 5.70 euros.

Gamesa Corporacion Tecnologica SA (GAM SM): Spain’s largest wind turbine cut its sales goal for this year and 2011 as European clients reduced orders amid regulatory uncertainty and lack of financing. The shares declined 1.3 percent to 7.61 euros.

Indra Sistemas SA (IDR SM): Spain’s largest computer- services company said first-half profit dropped 6 percent to 101.1 million euros from 107.7 million euros a year earlier, the Madrid-based company said in a regulatory filing. The shares rose 0.3 percent to 12.75 euros.

Mediaset SpA (MS IM): Prime Minister Silvio Berlusconi’s television broadcaster said first-half profit rose 34 percent on higher advertising sales in Italy and Spain. The shares fell 0.7 percent to 5.01 euros.

Promotora de Informaciones SA (PRS SM): The publisher of El Pais newspaper said in a regulatory filing it got a four-month waiver from its banks to sell new shares and dispose of some assets as part of an agreement to restructure debt. The stock rose 2.2 percent to 2.32 euros.

Rio Tinto Plc (RIO LN): Guinea does not recognize the mining company’s agreement to sell a $1.35 billion stake in the Simandou iron ore deposit to Aluminum Corp. of China Ltd., Mines Minister Mahmoud Thiam said. Shares declined 1 percent to 3,355 pence.

To contact the reporter on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net.

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