European Stocks Decline as Nokia, Deutsche Bank Retreat; Wellstream Surges
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index fell 0.5 percent to 265.01. The Stoxx 50 Index declined 0.7 percent to 2,552.71. The Euro Stoxx 50 Index, a benchmark for nations using the euro, fell 0.3 percent to 2,794.55.
France Telecom SA (FTE FP): France’s largest telephone company is buying 40 percent of Medi Telecom SA, Morocco’s second-largest mobile-phone operator, for 640 million euros ($840 million), as part of its plan to expand in emerging markets. The shares gained less than 0.1 percent to 16.42 euros.
Groupe Open SA (OPN FP): The information-services company lost 1.4 million euros in the first half, in from a loss of 1.7 million euros in the same period a year ago. The stock fell 1.6 percent to 6.33 euros.
HBM BioVentures AG (HBMN SW): The life-science fund started by former Roche Holding AG Chief Financial Officer Henri Meier said it sold its Asthmatx unit for 4 million Swiss francs ($10.96 million) to Boston Scientific Inc. (BSX US). The stock rose 1.7 percent to 39.30 francs.
Industria de Diseno Textil SA (ITX SM): The Spanish retailer will release second-quarter earnings. The shares fell 0.9 percent to 58.12 euros.
Kuoni Reisen Holding AG (KUNN SW): The largest Swiss travel company expects growth in India and China to be between 10 percent and 20 percent, outgoing Chief Financial Officer Max Katz said in an interview with Finanz und Wirtschaft. Kuoni rose 1 percent to 391.75 francs.
Myriad Group AG (MYRN SW): The maker of software for hand- held and mobile devices said its customer Sagem Wireless has requested a contract termination with immediate effect following Sagem’s “difficulties.” Myriad rose 2.4 percent to 4.25 francs.
Obrascon Huarte Lain SA (OHL SM): Moody’s Investors Service downgraded the Spanish builder’s senior unsecured debt ratings to Ba2 from Ba1, according to an e-mail from the ratings company. OHL rose 1.7 percent to 21.21 euros.
Robertet SA (RBT FP): The maker of liquid flavorings, perfumes and aromatic ingredients earned 13.5 million euros in the first half compared with 6.6 million euros in the same period a year ago. The stock rose 2.9 percent to 106.99 euros.
Tecan Group AG (TECN SW): The maker of liquid sample processors used in the drug industry confirmed its growth outlook for 2010 of between 6 percent and 8 percent in local currencies, AWP reports, citing Chief Executive Officer Thomas Bachmann at an investor presentation in New York today. Tecan rose 4.3 percent to 63.80 francs.
Zeltia SA (ZEL SM): The Spanish drugmaker said its group sales in 2010 will be 10 percent to 20 percent lower than the forecast given in March. Sales this year will increase 30 percent from 2009, the company said in a regulatory filing.
The shares increased 0.3 percent to 3.57 euros.
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