Banco Popular, BP, Iberdrola, Ubisoft: European Equity Preview
Shares of the following companies may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index rose 1.3 percent to 267.73. The Stoxx 50 Index gained 1.3 percent to 2,526.42. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, increased 1.8 percent to 2,705.75.
Banco Popular Espanol SA (POP) : The lender said it completed the sale of 200 million euros ($284 million) of 10- year subordinated debt. The debt, sold through its branch network, carries an 8 percent yield. The shares climbed 2.9 percent to 3.48 euros.
BP Plc (BP/) : A New Orleans judge denied BP Plc’s request to order the Obama administration to turn over e-mails from four officials to counter claims that the company underestimated the size of last year’s Gulf of Mexico oil spill. The stock climbed 2.5 percent to 472 pence.
Etam Developpement SA (TAM) : The French lingerie maker said first-half revenue rose 8.7 percent to 593.1 million euros The shares added 2 percent to 25.50 euros.
European Aeronautic, Defence & Space Co. (EAD FP): Airbus SAS, which has already committed to raising single aisle A320 production to 42 planes a month and was contemplating a rate of as many as 44 planes a month, is now “studying the case for going even higher,” Chief Operating Officer John Leahy said in a telephone interview. EADS’s shares rose 3.6 percent to 24.79 euros.
Iberdrola SA (IBE) : Spain’s largest power company is scheduled to report second-quarter earnings before market opens in Madrid. Chairman Ignacio Galan will participate in a conference call at 9:30 a.m. Madrid time. The shares increased 3.7 percent to 5.7 euros.
Irish Life & Permanent Plc (IPM ID): Ireland’s biggest life insurer said that each of the three resolutions proposed by the board were not approved by shareholders at the EGM today while four additional resolutions proposed by shareholders holding in excess of the minimum threshold were approved. The matter will be brought to the Department of Finance and the NTMA, it said. The stock slumped 2 percent to 5 euro cents.
London Stock Exchange Group Plc (LSE) : Europe’s oldest independent bourse said it will “look both West and East” as it seeks growth following the failed takeover of Canada’s TMX Group Inc. The shares jumped 3.4 percent to 1,030 pence.
Renta Corporacion Real Estate SA (REN SM): The real estate company posted first-half net income of 3.4 million euros compared with a net loss of 7.8 million euros a year earlier. The shares advanced 0.4 percent to 1.26 euros.
Societe des Autoroutes Paris-Rhin-Rhone (ARR) : The French builder and operator of toll highways said second-quarter revenue, excluding construction, rose to 504.8 million euros from 491.5 million euros a year earlier. The shares fell 0.3 percent to 46.85 euros.
Ubisoft Entertainment (UBI) SA: The video-game producer said first-quarter revenue fell to 103 million euros from 161 million euros a year earlier. The shares rose 0.2 percent to 5.92 euros.
Unibail-Rodamco SE (UL) : Europe’s largest publicly traded real-estate company reported a 1.4 percent increase in first-half profit, exceeding analysts’ estimates, after raising rents at its malls. The shares rose 0.9 percent to 152.10 euros.
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