BG, EDF, ING, Metro, Parmalat, Sanofi: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index gained 0.2 percent to 267.63. The Stoxx 50 Index dropped 0.3 percent to 2,507.65. The Euro Stoxx 50 Index, a benchmark for nations using the euro, increased 0.2 percent to 2,792.61.
Assicurazioni Generali SpA (G) : Italy’s biggest insurer said it has always acted with transparency toward the market and all shareholders, rebutting comments made by Vice Chairman Vincent Bollore to Corriere della Sera. Bollore told the newspaper he wanted greater transparency on investments in Eastern Europe and Russia. The shares fell 0.3 percent to 14.7 euros.
Barclays Plc (BARC) : The London-based lender told the U.K. Treasury that it may move its headquarters to the U.S. if the government proceeds with plans to break up banks, the Sunday Times said. The stock fell 0.5 percent to 282.1 pence.
BG Group Plc (BG/) : The U.K.’s third-largest natural-gas producer predicts that the Brazilian deepwater oil discoveries Lula and Iracema together hold more than 10 billion barrels of oil, exceeding the estimates of state-controlled Petroleo Brasileiro SA, Folha de S. Paulo said on its website. BG dropped 1.4 percent to 1,499 pence.
Brisa-Auto Estradas de Portugal SA: (BRI PL): Portugal’s biggest toll-road operator expects toll revenue at its main concession to increase 2 percent to 3 percent this year, according to a company presentation. The shares jumped 4.6 percent to 4.99 euros.
Credit Agricole SA (ACA) : The French bank has become the biggest investor in Spain’s Bankinter SA, with a 24.7 percent stake, compared with its previously published 23 percent stake, El Confidencial reported, citing a prospectus for the bank’s convertible shares. Credit Agricole’s stock fell 0.5 percent to 11.22 euros.
Criteria CaixaCorp SA (CRI) : CaixaBank, the banking business of La Caixa savings bank that will be absorbed by its listed holding company Criteria, plans to boost its market share in Spain to 15 percent by 2014 from 10 percent now, El Pais said, citing comments to investors by La Caixa Chief Executive Officer Juan Maria Nin. Criteria shares rose 0.7 percent to 4.917 euros.
Deutsche Telekom AG (DTE) : AT&T Inc. agreed to buy T- Mobile USA from Deutsche Telekom in a cash-and-stock offer valued at about $39 billion, a combination that would create the largest mobile-phone company in the U.S.
The deal may give Deutsche Telekom an 8 percent stake in the Dallas-based carrier, which will add a Deutsche Telekom executive to its board of directors. The shares of Bonn-based Deutsche Telekom dropped 1.3 percent to 9.59 euros.
Diageo Plc (DGE) : The owner of Smirnoff vodka is considering a $2 billion offer for Jose Cuervo SA, the tequila label in which it owns the international distribution rights, the Sunday Times reported, without saying where it got the information. The stock rose 0.4 percent to 1,143 pence.
E.ON AG (EOAN GY): A report in today’s Die Welt newspaper said that Germany’s four nuclear plant owners will take five more reactors temporarily offline by May to add to the seven already offline under a government safety review. The combined move would remove 75 percent or 15,000 megawatts of nuclear power generation from Germany’s grid, the newspaper said. The shares of E.ON dropped 1.5 percent to 20.94 euros.
Electricite de France SA (EDF FP): Europe’s biggest power generator said GIE Intra, which is mostly owned by EDF, will send robots to Japan to help with the nuclear crisis. The robots are able to replace human workers in radioactive areas, the company said. The stock fell 1.7 percent to 27.46 euros.
Fondiaria-Sai SpA (FSA) : lender UniCredit SpA (UCG) may underwrite a capital increase of over 460 million euros for Fondiaria and take a stake of 7 percent in the Italian insurer, Il Sole 24 Ore said, without saying where it got the information. Fondiaria rose 2.8 percent to 7.05 euros. UniCredit added 0.4 percent to 1.73 euros.
Interpump Group SpA (IP) : Chairman Giovanni Cavallini told Il Sole 24 Ore that 2011 sales will meet analyst forecasts of about 470 million euros. The world’s biggest maker of high- performance pumps is also planning to grow in Latin America, he told the newspaper. Shares fell 0.7 percent to 5.66 euros.
ING Groep NV (INGA) : General Electric Co. is among companies to have expressed interest to the biggest Dutch financial-services group about a takeover or merger with its U.S. online bank, according to a person with knowledge of the matter. ING rose 0.6 percent to 8.661 euros.
Omega Pharma (OME) NV: Belgium’s biggest supplier of pharmacy products isn’t seeking to make any big acquisitions, Chief Executive Officer Marc Coucke told L’Echo in an interview. The shares gained 5 cents, or 0.1 percent, to 32.10 euros.
Parmalat SpA (PLT) : Italian confectionery maker Ferrero SpA favors Italian ownership of Parmalat, an official for Ferrero said by phone. The comments followed a report in the Financial Times saying Ferrero may buy a stake in Italy’s largest dairy company, joining a battle for control against France’s Groupe Lactalis.
Separately, Parmalat said Groupe Lactalis submitted a list of candidates for the board. The shares rose 4 percent to 2.60 euros.
Sanofi-Aventis SA (SAN) : The French drugmaker said it received approval from the European Commission for Jevtana, a treatment for advanced second-line prostate cancer. The stock fell 0.3 percent to 47.12 euros.
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