Daimler, Endesa, Renault, Sanofi, Santander, Spir: 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 rose 0.6 percent to 251.24 on Aug. 27. The Stoxx 50 Index gained 0.6 percent to 2,447.61. The Euro Stoxx 50 Index, a benchmark for nations using the euro, increased 0.9 percent to 2,630.35.
Banco Santander SA (SAN SM): Spain’s largest lender paid $4 billion for a portfolio of U.S. car loans from HSBC Holdings Plc. The shares rose 0.9 percent to 9.21 euros.
Bilfinger Berger AG (GBF GY) and Hochtief (HOT GY): German Construction Minister Peter Ramsauer is seeking to reduce subsidies aimed at making buildings more energy efficient to 436 million euros ($555 million) next year from 1.35 billion euros this year, Rheinische Post reported, without saying where it got the information. Bilfinger Berger shares rose 1.6 percent to 46.81 euros. Hochtief shares gained 1.4 percent to 51.33 euros.
BNP Paribas SA (BNP FP): France’s biggest bank will use its merger with Fortis to build its services for export companies and will open new housing-loan branches in France, Journal du Dimanche reported, citing Chief Executive Officer Baudouin Prot. The shares advanced 0.6 percent to 49.75 euros.
Bureau Veritas SA (BVI FP): The French goods-inspection company may buy an electronic devices company in China in the coming weeks, Investir said, citing an interview with Chief Executive Officer Frank Piedelievre. The shares rose 0.9 percent to 47.02 euros.
Brederode SA (BREB BB): The Belgian investment company said it plans to absorb its controlling shareholder Cie. Auxiliaire des Mines SA (AUX BB) through a merger. Auximines investors will receive 32 Brederode shares and 16.30 euros in cash for each share they own. Brederode rose 0.8 percent to 15.73 euros. Auximines last traded at 490.50 euros.
Daimler AG (DAI GY): Sales of the Smart two-seater car will probably fall below 100,000 units this year from 114,000 in 2009 because of a lack of different models and sinking U.S. demand, Der Spiegel said. The shares advanced 0.8 percent to 38.41 euros.
Duvel Moortgat SA (DUV BB): The brewer of Duvel and La Chouffe beers said the acquisition of Brouwerij De Koninck will have a “limited” impact on its margins. Duvel increased 0.3 percent to 64.20 euros.
Endesa SA (ELE SM), Gas Natural SDG SA (GAS SM), Iberdrola SA (IBE SM): Bankers in Spain are preparing to sell 3 billion euros of bonds for a power company as early as September, Cinco Dias reported. Endesa shares climbed 1.1 percent to 18.60 euros, Gas Natural shares gained 1.7 percent to 11.90 euros and Iberdrola shares jumped 2.1 percent to 5.47 euros.
M6-Metropole Television SA (MMT FP): The French broadcaster is considering “several” acquisitions after advertising sales recovered this year, Journal du Dimanche reported, citing Chairman Nicolas de Tavernost. The shares rose 1.3 percent to 16.29 euros.
Renault SA (RNO FP): OAO AvtoVAZ, the Russian carmaker 25 percent owned by Renault, will introduce the Granta, successor to the Lada Classic, by the end of 2011, Le Figaro reported, citing an unidentified spokesman for the French company. The shares increased 0.9 percent to 32.54 euros.
Roche Holding AG (ROG VX): The world’s biggest maker of cancer drugs said Ranbaxy Laboratories Ltd. will sell a generic copy of the company’s antiviral medicine Valcyte in 2013, two years before a patent expires, as part of a settlement between the drugmakers. Roche lost a ruling last year in its patent- infringement lawsuit against Ranbaxy. Roche rose 0.5 percent to 137.8 Swiss francs.
Sanofi-Aventis SA (SAN FP): The Paris-based drugmaker said it’s offering to buy Genzyme Corp. for $69 a share, or about $18.5 billion in cash. Separately, Sanofi said its Multaq sinus medication received ESC Class 1 recommendation. The shares gained 1.3 percent to 45.26 euros.
Spir Communication SA (SPI FP): The French publisher of classified-ad newspapers and leaflets said it will form an internet insurance broker with partners in 2011. The shares climbed 0.9 percent to 17.90 euros.
Telefonica SA (TEF SM): Spain’s biggest phone company is limiting the services it offers to clients in Venezuela because of the country’s currency controls, ABC newspaper reported. The shares advanced 1.9 percent to 17.41 euros.
To contact the reporter on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net
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