Air Berlin, Deutsche Post, Roche, UBS: 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 climbed 0.1 percent to 276.19. The Stoxx 50 Index fell 0.1 percent to 2,610.73. The Euro Stoxx 50 Index, a benchmark for nations using the euro, fell less than 0.1 percent to 2,839.53.
Adidas AG (ADS GY): The sporting-goods maker plans to increase the number of its employees by 4 percent to 6 percent globally next year as it expands, Euro am Sonntag said, citing a spokeswoman that it didn’t identify by name. The shares dropped 1 percent to 50.35 euros.
Air Berlin Plc (AB1 GR): Germany’s second-biggest airline was cut to “hold” by equity analyst Michael Kuhn at Deutsche Bank AG. The 12-month price estimate is 4.30 euros. The shares fell 0.3 percent to 3.93 euros.
Allied Irish Banks Plc (ALBK ID): The lender has attracted three bidders for its investment management unit, which is expected to sell for as much as 25 million euros ($33 million), the Sunday Times reported, without citing anyone. The shares plunged 12.2 percent to 0.439 euros.
Banco Popolare SC (BP IM): Shareholders approved a plan by the Italian lender to raise as much as 2 billion euros ($2.7 billion) in a rights offer to repay government-backed bonds and boost capital. The shares fell 4.75 cents, or 1.3 percent, to 3.52 euros.
Bayerische Motoren Werke AG (BMW GY): The carmaker plans to produce more cars outside of Germany as it sells more vehicles abroad, Sueddeutsche Zeitung reported. The shares rose 3.9 percent to 62.52 euros.
Credit Suisse Group AG (CSGN VX): Switzerland’s second- biggest bank by assets may make acquisitions to expand its private banking operations, Walter Berchtold, head of that unit, told SonntagsZeitung. The stock fell 44 centimes, or 1.1 percent, to 38.79 francs.
Deutsche Post AG (DPW GY): The German postal service’s DHL unit said it started two new air routes from Paris and Frankfurt to the U.S., enabling shippers from Germany, France and some neighboring countries to send next-day delivery shipments to the U.S., Canada and Mexico. The shares rose 0.7 percent to 12.76 euros.
E.ON AG (EOAN GY): The utility may sell Britain’s largest electricity distributor, E.ON Central Networks, within a month after it granted a group of foreign bidders exclusive rights to make an offer, the Sunday Times reported, without saying where it got its information. The stock rose 0.1 percent to 22.615 euros.
Fortum Oyj (FUM1V FH): Finland’s biggest utility agreed to sell assets in the Stockholm area to Macquarie funds for 2 billion kronor ($290 million). The shares gained 8 cents, or 0.4 percent, to 21.5 euros.
GlaxoSmithKline Plc (GSK LN): The London-based drugmaker’s Tykerb failed to contain breast cancer and reduce the need for mastectomies in women with early-stage disease as well as did standard therapy with Roche Holding AG’s Herceptin, a study found. The shares rose 0.3 percent to 1,250 pence.
Gjensidige Forsikring ASA (GJF NO): Norway’s largest property and casualty insurer is not in merger talks with Storebrand ASA, Chief Executive Officer Helge Leiro Baastad told online newspaper Hegnar. The shares lost 0.4 percent to 58.75 kroner.
ProSiebenSat.1 Media AG (PSM GY): The broadcasting group may sell some of its transmitters outside Germany, Chief Executive Officer Thomas Ebeling told Frankfurter Allgemeine Zeitung. The stock gained 2 percent to 23.05 euros.
Punch Taverns Plc (PUB LN): The pub owner is drawing up plans to restructure debts that may force it to default on loans on more than 5,000 public houses, the Sunday Times reported. The stock fell 0.5 percent to 66.05 pence.
Roche Holding AG (ROG VX): The Swiss pharmaceutical company’s Avastin failed to eradicate tumor cells better than standard chemotherapy in women with early stage breast cancer, a finding that could limit the efforts to expand use of the oncology drug. Roche fell 0.7 percent to 141.7 Swiss francs.
Royal Dutch Shell Plc (RDSA NA): Europe’s biggest oil company reached a target of raising $8 billion from asset sales a year early, the Financial Times said.
The company announced an agreement to sell oil and natural- gas fields in Texas and North Dakota to Occidental Petroleum Corp. for $3.2 billion. Shell rose 0.9 percent to 24.47 euros.
Seat Pagine Gialle SpA (PG IM): Chief Executive Officer Alberto Cappellini plans to have sufficient financial independence to allow the Italian company to renegotiate its debt in 2013, Il Sole 24 Ore said, citing the manager. The shares rose 0.12 cents, or 1.3 percent, to 9.21 cents.
Statoil ASA (STL NO): The Nordic region’s biggest energy producer filed applications for three permits to drill exploration wells in the deep waters of the Gulf of Mexico, a company spokesman said. The shares lost 0.2 percent to 133.9 kroner.
UBS AG (UBSN VX): Chairman Kaspar Villiger and Chief Executive Officer Oswald Gruebel will stay in their positions through 2012 at least, SonntagsZeitung said, citing an unidentified manager of the bank. The stock fell 1 centime, or 0.1 percent, to 16.15 francs.
VastNed Offices/Industrial NV (VNOI NA): The Dutch property investment company said it will enter into talks about a possible merger with Nieuwe Steen Investments NV (NISTI NA). VastNed O/I was unchanged at 11.60 euros. Nieuwe Steen fell 0.1 percent to 14.97 euros.
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