Commerzbank, GDF, Vivendi, Volkswagen: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index fell 0.2 percent to 281.17. The Stoxx 50 Index declined 0.7 percent to 2,637.26. The Euro Stoxx 50 Index, a benchmark for nations using the euro, dropped 0.4 percent to 2,935.11.
Aggreko Plc (AGK) : The world’s largest provider of mobile power-supplies may report full-year net income of 207.8 million pounds ($336.7 million), according to the average of six estimates compiled by Bloomberg. The stock fell 1.7 percent to 1,489 pence.
Commerzbank AG (CBK) : The country’s second-largest lender is testing the market’s appetite for a possible capital increase of as much as 7 billion euros ($9.7 billion) in May or June to help repay government aid, Financial Times Deutschland reported. Separately, the lender said it sold 1.25 billion euros of subordinated notes as it prepares for new capital rules. The stock fell 1.3 percent to 6.14 euros.
Derwent London Plc (DLN) : The U.K. real estate developer that’s focused on the capital’s West End district may report full-year net income of 338.8 million pounds, according to the average of five estimates compiled by Bloomberg. The shares were unchanged at 1,733 pence.
Deutsche Post AG (DPW) : The postal operator said its supervisory board appointed Roger Crook to the board of management responsible for DHL Global Forwarding, Freight. The shares gained 0.9 percent to 12.94 euros.
Enel Green Power SpA (EGPW) : The renewable energy unit of Italy’s biggest utility said profit increased 8.1 percent in 2010 helped by lower taxes and the acquisition of assets in Spain. The shares gained 3 percent to 1.80 euros.
Finmeccanica SpA (FNC) : The Italian defense company agreed to sell a stake in its power-plant construction unit to U.S. private equity firm First Reserve Corp. after postponing an initial public offering in 2008. Finmeccanica expects a one-time gain net of taxes of 450 million euros from the sale. The shares rose 3.8 percent to 9.27 euros.
GDF Suez (GSZ) SA: The world’s biggest utility by sales raised 300 million euros from a sale of bonds due in 100 years, the longest-dated issue of senior, unsecured debt in the European currency by a corporate borrower. The shares fell 0.5 percent to 27.43 euros.
Iberdrola Renovables SA (IBR) : The world’s largest owner of wind parks was cut to “hold” from “buy” at Caja Madrid Bolsa. The shares jumped 11 percent to 3.04 euros.
Kabel Deutschland Holding AG (KD8) (KD8 GY): The cable company said the central bank of Norway, Norges Bank, increased its stake to 5.48 percent as of March 8. The shared gained 0.7 percent to 38.10 euros.
Lagardere SCA (MMB) : France’s largest publisher posted a 19 percent increase in full-year profit, falling short of analysts’ estimates. Net income rose to 163 million euros from 137 million euros a year earlier. The shares fell 0.8 percent to 32.79 euros.
London Stock Exchange Group Plc (LSE) : Canadian Industry Minister Tony Clement said today the 45-day review period has not yet started for London Stock Exchange Group Plc’s proposed purchase of TMX Group Inc., which operates the Toronto Stock Exchange. The shares dropped 1.3 percent to 869 pence.
Schroders Plc (SDR) : Europe’s largest publicly traded fund-management company by market value may report full-year net income of 277.6 million pounds, according to the average of eight estimates compiled by Bloomberg. The stock advanced 0.2 percent to 1,800 pence.
Standard life Plc (SL/) : Scotland’s biggest insurer may report full-year net income of 324.1 million pounds, according to the average of seven estimates compiled by Bloomberg. The stock gained 2 percent to 244.7 pence.
Vivendi SA (VIV) : The owner of the world’s biggest music company named Lucian Grainge chief executive officer of its Universal Music Group unit. The shares rose 0.4 percent to 20.07 euros.
Volkswagen AG (VOW) (VOW3 GY): Europe’s largest carmaker plans new models for growth markets and will offer a global compact sedan from its Skoda unit next year as well as a version from its Spanish Seat brand, Handelsblatt reported. VW’s Chinese ventures with SAIC Motor Corp. and China FAW Group Corp. also plan to build related five-seat models, the newspaper said.
The preferred shares slipped 0.2 percent to 118.45 euros.
William Morrison Supermarkets Plc (MRW LN): Britain’s fourth-largest grocery chain may report full-year net income of 604.8 million pounds, according to the average of 12 estimates compiled by Bloomberg. The shares advanced 0.3 percent to 280.5 pence.
To contact the reporter on this story: Cecile Vannucci in New York at cvannucci1@bloomberg.net
To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net
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