AB InBev, Gildemeister, GlaxoSmithKline: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index advanced 1 percent to 275.77. The Stoxx 50 Index slumped 1 percent to 2,591.64. The Euro Stoxx 50 Index, a benchmark for nations using the euro, added 1.5 percent to 2,909.78.
Anheuser-Busch InBev NV (ABI) : Eugenie Patri Sebastien SA, the investment vehicle of the Belgian families that have joint control over the world’s largest brewer, sold 3.1 million euros of the beermaker’s stock, according to a regulatory filing. AB InBev rose 1.5 percent to 40.55 euros.
Electricite de France SA (EDF FP): The company’s EDF EN Canada unit said it signed two 20-year power purchase agreements with Hydro-Quebec for wind energy projects totaling 49.2 megawatts of energy. EDF rose 0.6 percent to 28.95 euros.
Gildemeister AG (GIL) : The German-based maker of cutting tools said it will implement the previously announced increase of its share capital, with the new shares offered to shareholders for subscription at a 5:1 ratio. The company commented in a statement today.
GlaxoSmithKline Plc (GSK) : The London-based company’s lawyer told a federal court jury that Abbott Laboratories sought to stifle competition and maintain an illegal monopoly over HIV drugs when it quadrupled the price of its AIDS medicine Norvir in 2003.
Portugal Telecom SGPS SA (PTC) : Portugal’s biggest phone company said Norges Bank raised its stake to 45.7 million shares, or 5.09 percent, with the purchase of 1 million shares on March 17. Portugal Telecom rose 1.6 percent to 8.30 euros.
To contact the reporters on this story: Jennifer A. Johnson in New York at Jjohnson156@bloomberg.net
To contact the editor responsible for this story: Nick Baker at email@example.com