Lufthansa, Renault, Simcorp, Porsche, Lagardere: 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 0.4 percent to 275.81. The Stoxx 50 Index declined 0.6 percent to 2,586.46. The Euro Stoxx 50 Index, a benchmark for nations using the euro, retreated 0.5 percent to 2,792.82.
CeWe Color Holding AG (CWC GY): Europe’s largest independent photo developer will “slightly” raise its dividend for 2010, Frankfurter Allgemeine Sonntagszeitung said, citing an interview with Chief Financial Officer Olaf Holzkaemper. The stock added 0.5 percent to 33.35 euros.
Deutsche Lufthansa AG (LHA GY): Germany’s largest airline will hire 4,000 employees in Germany this year as greater seating capacity and passenger numbers require more personnel, Bild said, citing an interview with Chief Executive officer Christoph Franz. The shares dropped 1.9 percent to 16.355 euros.
GDF Suez SA (GSZ FP): The operator of Europe’s largest natural-gas network is studying a plan to sell shares or a minority stake in its oil and gas production business, according to three people with knowledge of the matter. The shares declined 1.4 percent to 26.85 euros.
Lagardere SCA (MMB FP): France’s biggest publisher is in exclusive talks to sell its international magazine business, including Car and Driver and the foreign editions of Elle, to Hearst Corp. The negotiations will remain exclusive until Jan. 30 for an all-cash deal, Paris-based Lagardere and New York- based Hearst said in e-mailed statements. Lagardere shares lost 1.8 percent to 30.83 euros.
Porsche SE (PAH3 GY): A U.S. judge dismissed two lawsuits claiming the maker of the 911 sports car cost hedge funds more than $2 billion by misleading short-sellers in its acquisition of Volkswagen AG shares in 2008. Porsche declined 1.1 percent to 59.66 euros.
Renault SA (RNO FP): France’s second-biggest car maker is in talks with Algeria to build a tourist bus plant, Algeria’s Trade Minister Mohamed Benmeradi said. The company plans to build a plant with a capacity to produce 7,500 tourist buses per year, Benmeradi told reporters in Algiers. The shares added 0.1 percent to 43.50 euros.
Simcorp A/S (SIM DC): The Danish company whose asset- management software is used by Deutsche Bank AG and Sweden’s central bank said it does not expect to meet its 2010 revenue expectations. Revenue growth is projected to be 2 percent to 3 percent against previously announced 5 percent to 10 percent.
Volkswagen AG (VOW3 GY): Europe’s largest carmaker’s supervisory board unanimously extended CEO Martin Winterkorn’s contract by five years to the end of 2016. Volkswagen preferred shares, which have replaced its common stock on the DAX, slumped 2 percent to 121.40 euros.
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