Barclays, BNP Paribas, Deutsche Bank: European Equity Preview
Stock Chart for Deutsche Telekom AG (DTE)
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index gained 1 percent to 234.73. The Stoxx 50 Index increased 1 percent to 2,285.27. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, rose 0.9 percent to 2,224.89.
Barclays Plc (BARC) : The British bank and Bank of America Corp. were sued by Lehman Brothers Holdings Inc. for a breach of contract related to their investments in Archstone, the former securities firm’s biggest real estate asset. Barclays gained 0.1 percent to 170.5 pence.
BNP Paribas SA (BNP) , Deutsche Bank (DBK GY) and Credit Suisse Group (CSGN) : The European (SXXP) banks were among those that had their credit ratings cut by Fitch Ratings Ltd, which cited increased economic and regulatory challenges. BNP Paribas rose 0.2 percent to 27.93 euros. Deutsche Bank increased 1.5 percent to 27.65 euros. Credit Suisse advanced 1.7 percent to 21.89 Swiss francs.
Deutsche Telekom AG (DTE GY): Europe’s largest phone company has a target of 1 billion euros ($1.3 billion) in savings by 2015 through the merger of its internal computing and communications systems, according to a person with knowledge of the matter. Deutsche Telekom declined 0.5 percent to 9.03 euros.
International Consolidated Airlines Group SA (IAG LN): Iberia, the Spanish division of the UK-based carrier, has found alternatives for 80 percent of clients that would have been affected by a pilots union strike scheduled for Dec. 18, the company said in an e-mailed statement. International Consolidated Airlines Group rose 1.4 percent to 144.60 pence.
Lloyds Banking Group Plc (LLOY) : The British bank’s Chief Executive Officer Antonio Horta-Osorio said he doesn’t think it would be “appropriate” to appoint a deputy or a chief operating officer when he returns to work in January after medical leave, Sky News reported. Lloyds increased less than 0.1 percent to 24.08 pence.
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