Pfleiderer, Commerzbank, Sanofi, Swatch, Total: 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 0.7 percent to 252.15. The Stoxx 50 Index dropped 0.4 percent to 2,458.42. The Euro Stoxx 50 Index, a benchmark for nations using the euro, declined 1.2 percent to 2,643.98.
Air Berlin Plc (AB1 GY): Germany’s second-biggest airline wants to improve its services on long-haul flights, WirtschaftsWoche reported, citing an unidentified company spokesman. Air Berlin shares fell 2 percent to 3.41 euros.
Amper SA (AMP SM): The Spanish maker of communications equipment will seek to increase its non-domestic revenue starting in 2011, El Pais said, citing an interview with Chairman Jaime Espinosa de los Monteros Pitarque. The shares declined 2.5 percent to 4.25 euros.
Banco Santander SA (SAN SM): Spain’s largest lender and PKO Bank Polski SA (PKO PW) are the remaining bidders for Anglo Irish Bank Corp.’s Polish unit Bank Zachodni WBK SA (BZW PW), the Daily Mail said, citing unidentified people close to the deal. Santander shares fell 1.7 percent to 9.19 euros.
Bilfinger Berger AG (GBF GY): Germany’s second-largest construction company said Hesse premier Roland Koch won’t succeed Chief Executive Officer Herbert Bodner, denying a report in Bild newspaper. Koch also won’t be offered any other position at Bilfinger Berger, company spokesman Sascha Bamberger said in an interview with Bloomberg News. The shares slid 2.1 percent to 46.95 euros.
Commerzbank AG (CBK GY): Germany plans to quickly sell its stake in Commerzbank AG, the country’s second-biggest lender, Rheinische Post said, citing an interview with Finance Minister Wolfgang Schaeuble. Commerzbank shares fell 0.8 percent to 6.73 euros.
Casino Guichard-Perrachon SA (CO FP): The French supermarket operator signed a 1.2 billion-euro ($1.52 billion) revolving credit line, according to a person familiar with the deal. The shares slid 1.3 percent to 64.87 euros.
Dana Petroleum Plc (DNX LN): Korea National Oil Corp.’s hostile bid for U.K. oil explorer Dana Petroleum has the support of many of Dana’s top shareholders, the Times of London reported, without saying where it got the information. The stock advanced 6.1 percent to 1,798 pence.
E.ON AG (EOAN GY) and RWE AG (RWE GY): Chancellor Angela Merkel challenged German atomic-power plant operators E.ON and RWE to come up with alternatives to a planned tax on nuclear fuel that they oppose. E.ON fell 0.1 percent to 22.66 euros while RWE dropped 0.6 percent to 53.38 euros.
Pfleiderer AG (PFD4 GY): The German maker of laminate flooring was cut to “sell” from “hold” at Norddeutsche Landesbank Girozentrale by equity analyst Heino Hammann. The 12- month price estimate is 4 euros per share. The shares fell 4 percent to 4.36 euros.
HSBC Holdings Plc (HSBA LN): Europe’s biggest bank is about to enter exclusive talks to buy a controlling stake in Nedbank Group Ltd., The Sunday Times reported, citing market sources. The stock fell 0.2 percent to 634.2 pence.
Sanofi-Aventis SA (SAN FP): The French drugmaker may be in talks with Genzyme Corp. on a potential acquisition for between $76 and $79 per Genzyme share, Sanford Bernstein analyst Geoffrey Porges said. Sanofi shares fell 0.2 percent to 44.97 euros. Genzyme shares rose 1.5 percent to $66.89.
SABMiller Plc (SAB LN): The world’s second-largest brewer may make a 7 billion-pound ($10.9 billion) offer for Carlton & United Breweries, the beer-making unit of Foster’s Group Ltd., the Sunday Times reported, without saying where it got the information. The shares fell 0.5 percent to 1,851 pence.
RSA Insurance Group Plc (RSA LN): The U.K. insurer will need to raise its offer for Aviva Plc’s insurance unit by 10 percent to reach an agreement, the Daily Telegraph reported investor Martin Brown as saying. The stock declined 0.8 percent to 122.6 pence.
Swatch Group AG (UHR VX): The world’s largest watchmaker aims to “clearly exceed” its full-year revenue target of more than 6 billion Swiss francs ($5.8 billion) in 2011, Chairwoman Nayla Hayek told NZZ am Sonntag. Swatch declined 1.6 percent to 333.7 francs.
Total SA (FP FP): Europe’s third-largest oil company restarted a fluid catalytic cracker at the Port Arthur, Texas, refinery, two people familiar with the plant’s operations said. The shares fell 0.8 percent to 37.77 euros.
UBS AG (UBSN VX): The Swiss government will pass the data of 4,200 UBS customers to the U.S. authorities, less than the 4,450 clients asked for, Sontag said, without saying where it got the information. UBS declined 2.5 percent to 17.02 francs.
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