Atenor, BBVA, Nestle, Roche, Telenor: European Equity Preview

The following companies’ shares may be active in European trading. Stock symbols are in parentheses, and prices are from the previous close.

The Stoxx Europe 600 Index fell 0.6 percent to 269.50. The Stoxx 50 Index declined 1 percent to 2,563.28. The Euro Stoxx 50 Index, a benchmark for nations using the euro, slipped 0.3 percent to 2,845.75.

Atenor Group SA (ATEB BB): The developer that is building Belgium’s tallest residential skyscraper agreed to buy the former headquarters of BACOB Bank CV in the European district of Brussels for an undisclosed amount.

Separately, Atenor reiterated its forecast that 2010 earnings will be close to break-even “or even slightly negative.” Atenor gained 1.7 percent to 33.99 euros.

Banco Bilbao Vizcaya Argentaria SA (BBVA SM): Spain’s second-largest bank said 98.2 percent of retail investors with shares deposited at the bank have subscribed for its capital increase to finance the purchase of a stake in Turkish lender Turkiye Garanti Bankasi AS. BBVA stock retreated 0.96 percent to 8.26 euros.

Bilfinger Berger SE (GBF GY): The German construction company restarted talks with Lend Lease Group about a possible sale of its Valemus unit, The Australian said, without saying where it got the information. Bilfinger is also pursuing plans for an initial public offering of the unit in the first quarter of 2011, the newspaper said. The shares climbed 0.9 percent to 57.64 euros.

British Land Co. (BLND LN): The U.K. company that will build the London tower popularly known as the Cheesegrater has agreed on terms to buy the Drake Circus shopping mall, in Plymouth, southwest England, from Kandahar Real Estate Ltd., the Daily Telegraph said, without saying where it got the information. The shares rose 0.2 percent to 496.3 pence.

Deutsche Post AG (DPW GY): Europe’s biggest postal service plans to sell Exel Transportation Services by the end of the first quarter of 2011, Financial Times Deutschland said, citing unidentified people at Deutsche Post. The shares were unchanged at 13.77 euros.

E.ON AG (EOAN GY): E.ON Ruhrgas AG and Sonatrach, Algeria’s state-run energy company, have discovered gas during exploration of Algeria’s Rhourde Yacoub block, E.ON Ruhrgas said. E.ON shares were little changed at 22.90 euros.

European Aeronautics, Defense & Space Co. (EAD FP): The U.S. Air Force will delay until early next year its decision on whether EADS or Boeing Co. wins a $35 billion contract to build aerial refuelling tankers, an official said. A decision on the contract had been set for late 2010. EADS shares were little changed at 17.32 euros.

Lafarge SA (LG FP): The world’s biggest cement maker is focused on improving profit and cutting debt in the next 18 months as it cuts investment and costs and steps up asset sales, Chief Financial Officer Jean-Jacques Gauthier said. “Post- crisis” margins should be “even better” than pre-crisis margins because of cost cuts, he added. The shares rose 1.4 percent to 45.39 euros.

Lloyds Banking Group Plc (LLOY LN): The U.K.’s biggest mortgage lender may be recommended for breakup by a U.K. government-appointed panel, reversing last year’s combination with HBOS Plc, according to committee member Clare Spottiswoode, the Financial Times said. The shares declined 1.6 percent to 66.72 pence.

Munich Re (MUV2 GY): Chief Executive Officer Nikolaus von Bomhard said the German reinsurer’s investment in Irish government bonds amounts to 2.4 billion euros ($3.3 billion) and the total exposure to Portuguese, Italian, Irish, Greek and Spanish bonds totals about 12 billion euros, Tagesspiegel reported. The shares declined 0.7 percent to 113.15 euros.

Nestle SA (NESN VX): The world’s largest food company is the “ideal candidate” to invest in yoghurt maker Yoplait, Le Matin Dimanche said, citing Yoplait Chief Executive Officer Lucien Fa. Nestle dropped 0.3 percent to 55.55 francs.

Novartis AG (NOVN VX): The Swiss drugmaker doesn’t plan job cuts similar in scale to those announced at Roche Holding AG, a company spokesman said, responding to a report in Der Sonntag newspaper. The shares fell 0.4 percent to 56.3 francs.

Oranjewoud NV (ORANW NA): The Dutch consulting firm said third-quarter sales rose 8.9 percent to 114.8 million euros. Orders rose 12.3 percent to 199.4 million euros. Oranjewoud gained 1.3 percent to 4.839 euros.

Pirelli & C. SpA (PC IM): Europe’s third-largest tiremaker is negotiating a 1.2 billion-euro loan to refinance its debt, Il Messaggero reported, without saying where it got the information. Pirelli rose 0.4 percent to 6.09 euros.

Porsche SE (PAH3 GY): The carmaker’s merger with Volkswagen AG is continuing, Chief Financial Officer Hans Dieter Poetsch told Frankfurter Allgemeine Sonntagszeitung. Still, “hurdles” in the process may cause a delay of the completion of the merger, he said. Porsche rallied 2.1 percent to 50 euros, while Volkswagen (VOW3 GY) jumped 3 percent to 122.70 euros.

Roche Holding AG (ROG VX): The world’s biggest maker of cancer medicines is looking for opportunities to make small-to- medium-sized acquisitions or to gain rights to new products, SonntagsZeitung reported, citing Chief Executive Officer Severin Schwan. Schwan declined to comment on whether the drugmaker would be interested in taking a stake in Actelion Ltd. Roche dropped 0.7 percent to 145.5 francs.

Sapec SA (SAP BB): The third-largest supplier of crop- protection products on the Iberian Peninsula forecast a full- year profit excluding special items and said it still plans to complete the sale of two thirds of its 58 percent stake in Grupo Naturener SA before the end of the year. Sapec declined 1.3 percent to 50.01 euros.

Telenor ASA (TEL NO): The Nordic region’s largest telephone company said no wrong-doings were committed when it obtained a mobile-phone license for its Indian division Uninor, NTB reported, citing spokesman Glenn Mandelid. Telenor shares fell 1.1 kroner, or 1.2 percent, to 92.5 kroner.

Tesco Plc (TSCO LN): The U.K.’s largest retailer said sales rose in China, Korea, India, Thailand and Malaysia in the nine weeks through Oct. 31. The stock fell 0.4 percent to 426.65 pence.

To contact the reporter on this story: Stephen Kleege in New York at skleege@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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