BASF, Carrefour, Colruyt, Fiat, Porsche: European Equity Preview

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

The Stoxx Europe 600 Index fell 0.1 percent to 261.83. The Stoxx 50 Index slipped 0.2 percent to 2,477.63. The Euro Stoxx 50 Index (SX5E), a benchmark for nations using the euro, declined 0.7 percent to 2,650.99.

Banca Popolare di Milano Scarl (PMI IM): The oldest Italian cooperative bank said it has to pay 313 million euros ($406 million) of taxes plus penalties and interests for financial transactions made between 2004 and 2007. The bank said in a statement it will try to negotiate an agreement with tax authorities. The shares fell 2.7 percent to 2.65 euros.

BASF SE (BAS) : The world’s biggest chemical company won European Union approval to acquire food- and cosmetics-ingredients maker Cognis Holding GmbH after it agreed to sell some activities related to the production of a chemical used in coatings and adhesives. The stock rose 2.2 percent to 57.50 euros.

British American Tobacco Plc (BATS) : Europe’s largest cigarette maker signed a 2 billion-pound ($3.1 billion) credit line paying initial interest of 65 basis points more than the London interbank offered rate, according to data compiled by Bloomberg. The shares fell 0.1 percent to 2,330.5 pence.

Carrefour SA (CA) : The world’s second-largest retailer cut its 2010 profit forecast and said it will take a charge at its Brazilian unit of 550 million euros, more than triple its previous estimate. The shares fell 2.2 percent to 34.86 euros.

Colruyt NV (COLR) : Belgium’s biggest discount food retailer said fiscal first-half net income rose 6.4 percent to 171.7 million euros. Profit missed the 174.7 million-euro average of seven analyst estimates compiled by Bloomberg. Colruyt advanced 0.4 percent to 38.49 euros.

CRH Plc (CRH) : The American unit of the Dublin-based manufacturer and distributor of building materials issued $750 million of debt in a two-part transaction after boosting the size of the sale. The stock slipped 1.4 percent to 13.41 euros.

Fiat SpA (F) : Italy’s transportation ministry will publish new car sales figures in Italy at 6:00 p.m. The shares declined 0.4 percent to 12.75 euros.

Porsche SE (PAH3 GY): Common shareholders approved their half of a 5 billion-euro ($6.5 billion) share sale that the sports-car maker is seeking to reduce debt before merging with Volkswagen AG. The shares rose 3.7 percent to 57.93 euros.

Red Electrica Corp. SA (REE) : The manager of Spain’s power grid said it completed a 46.9 million-euro purchase of some transmission assets from Gas Natural SDG SA (GAS)’s Fenosa unit. Red Electrica gained 0.8 percent to 33.67 euros. Gas Natural rose 0.5 percent to 10.41 euros.

Royal Dutch Shell Plc (RDSA) : Europe’s biggest oil company will shut process units at its Martinez, California, refinery in the first and second quarters for planned repairs, according to two people familiar with the plans. The shares declined 0.5 percent to 1,936 pence.

To contact the reporter on this story: Tara Lachapelle in New York at tlachapelle@bloomberg.net.

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

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