Areva, EDP-Energias, ERG, Geox, Portugal Telecom: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index rose 0.3 percent to 283.58. The Stoxx 50 Index advanced 0.2 percent to 2,682. The Euro Stoxx 50 Index, a benchmark for nations using the euro, climbed 0.4 percent to 2,969.24.
Acerinox SA (ACX) : The stainless steel producer’s board agreed to pay a second 2010 gross interim dividend of 10 euro cents per share on April 5, the company said in a regulatory filing. The shares advanced 0.9 percent to 13.78 euros.
Areva SA (CEI) : The biggest supplier of nuclear fuel and services scrapped its dividend payout for 2010 and reported full-year profit that missed estimates on charges. Net income rose 60 percent to 883 million euros, less than the 1.06 billion-euro estimate in a Bloomberg survey of analysts. The shares fell 3.7 percent to 33.55 euros.
Cie. Nationale a Portefeuille SA (NAT BB): Belgian billionaire Albert Frere and BNP Paribas SA plan to make a 1.5 billion-euro offer to buy out minority shareholders in Frere’s main publicly traded investment firm. The offer price of 48.68 euros a share is less than Nationale a Portefeuille’s adjusted net asset value of 51.90 euros a share on Feb. 24. The shares rose 0.8 percent to 40.31 euros.
EDP-Energias de Portugal SA (EDP PL): Portugal’s biggest power company said full-year net income rose 5.4 percent to 1.08 billion euros. The company aims to raise 500 million euros in asset sales this year. The stock advanced 0.6 percent to 2.79 euros.
Geox SpA (GEO) : The shoemaker said that 2010 net income fell to 58 million euros ($81 million) from 66.7 million euros in 2009. The company proposed a dividend of 18 cents per share. Geox said there will be pressure on margins in the first half. The stock declined 0.6 percent to 3.95 euros.
Groupe Bruxelles Lambert SA (GBLB) : The Belgian investment firm jointly controlled by billionaires Albert Frere and Paul Desmarais raised its dividend by 5 percent, the smallest increase in seven years, to 2.54 euros a share. GBL also said it increased its holding in Arkema to 5.9 percent as of Feb. 25. The shares retreated 0.1 percent to 65.78 euros.
Italcementi SpA (IT) : The country’s largest cement maker plans to report final 2010 results. The stock added 2.6 percent to 7.3 euros.
Legrand SA (LR) : Kohlberg Kravis Roberts & Co. and Wendel (MF) said they plan to sell 40 million shares in the world’s largest maker of wiring devices such as plugs and switches, equivalent to a 15 percent stake in the company. Legrand shares fell 0.1 percent to 30.29 euros.
Portugal Telecom SGPS SA (PTC) : Portugal’s biggest phone company’s unit in Namibia said it opposes a move to force mobile-phone companies to charge the same rates when subscribers call other networks in the southern African nation. The shares dropped 0.6 percent to 8.38 euros.
Prysmian SpA (PRY) : The telecommunications and energy- cable company Prysmian SpA reported 2010 net income of 148 million euros, which missed the 154 million-euro average estimate of 11 analysts in a Bloomberg survey. The telecommunications and energy-cable company proposed a dividend of 16.6 euro cents. The stock gained 1.6 percent to 15.87 euros.
SBM Offshore NV (SBMO) : The world’s largest supplier of floating oil and gas production platforms may report full-year net income of $219 million, according to the average estimate of 13 analysts surveyed by Bloomberg. SBM Offshore advanced 0.9 percent to 18.33 euros.
USG People NV (USG) : The second-largest Dutch staffing company may report full-year net income of 24.1 million euros, according to the average of eight analyst estimates compiled by Bloomberg. USG People gained 3.1 percent to 14.87 euros.
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