BP Plc, British Airways, Enel, Siemens, Vodafone: 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 0.9 percent to 260.4. The Stoxx 50 Index gained 1.1 percent to 2,537.22. The Euro Stoxx 50 Index, a benchmark for nations using the euro, increased 1.1 point to 2,746.23.
BP Plc (BP/ LN): The oil producer has increased the target for its asset sales to $40 billion from $30 billion to cover the rising clean-up cost of the Gulf of Mexico oil spill, the Sunday Times reported, citing unidentified sources. The stock rose 2.3 percent to 401.7 pence.
British Airways Plc (BAY LN): The U.K. carrier has identified about 12 airlines that would be attractive to International Airlines Group, the company being formed by British Airways’s merger with Iberia Lineas Aereas de Espana SA. The stock rose 0.6 percent to 223 pence.
Enel SpA (ENEL IM): Italy’s biggest utility plans to sell its gas distribution assets in Spain by September and its stake in a Bulgarian power plant soon after, Chief Executive Officer Fulvio Conti said. The company has “several bidders” interested in its Spanish assets, Conti said in an interview in Cernobbio, Italy. He also said Enel will sell its stake in Bulgaria’s Maritsa East Three coal-fired power plant “in the fall.”
The shares gained 0.7 percent to 3.89 euros.
GN Store Nord A/S (GN DC): The world’s largest maker of mobile headsets said it has been awarded 2.2 billion kroner from Telekomunikacja Polska SA (TPS PW) in an arbitration case concerning the DPTG I/S transmission line. GN partner TDC A/S (TDC DC), Denmark’s largest phone company, will also receive an award as part of the ruling. GN rose 1.7 percent to 42.40 kroner.
Natixis (KN FP) and Publicis Groupe SA (PUB FP) were picked to replace Dexia SA (DEXB BB) and Lagardere SCA (MMB FP) in the CAC 40 Index, the benchmark measure of French stocks, according to a statement from NYSE Euronext. The changes will take effect from Sept. 20. Natixis rose 0.4 percent to 4.42 euros. Publicis gained 1.1 percent to 34.44 euros. Dexia advanced 2 percent to 3.44 in euros. Lagardere rose less than 0.1 percent to 28.75 euros.
OAO Rosneft (ROSN RX): Rosneft’s board of directors formally named Eduard Khudainatov as its next chief executive officer. Rosneft, Russia’s biggest state-run oil producer, added 0.5 percent to 202.44 rubles.
RWE AG (RWE GY): Juergen Grossmann, chief executive officer of Germany’s second-largest utility, said a change in the legal form of the company will help to cut administrative costs, Frankfurter Allgemeine Sonntagszeitung reported. The shares rose 1.3 percent to 53.23 euros.
Siemens AG (SIE GY): The company’s chief executive for France, Philippe Carli, will leave the company after 21 years, Financial Times Deutschland reported. The shares increased 1.3 percent to 74.63 euros.
Telekomunikacja Polska SA (TPS PW): Poland’s largest phone company said a court ruling that ordered it to pay about 2.9 billion kroner ($502 million) to DPTG I/S will have a negative impact on its earnings this year. The decision won’t affect the dividend, the company said. Shares of TPSA, which is a unit of France Telecom SA, dropped 0.5 percent to 17.1 zloty.
Vodafone Group Plc (VOD LN): The mobile telecommunications company has hired recruitment expert Anna Mann to find a replacement for its Chairman John Bond, the Sunday Times reported, without saying where it got the information. The stock rose 1.1 percent to 159 pence.
To contact the reporter on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net
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