Deutsche Boerse, HSBC Holdings, Repsol: Europe Equity Preview
The following companies’ shares may have unusual moves in European (SXXP) trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index rose 1.8 percent to 250.82. The Stoxx 50 Index gained 1.7 percent to 2,425.68. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, increased 2.7 percent to 2,347.47.
Continental AG (CON) (CON GY): Europe’s second-biggest manufacturer of car parts said sales this year will rise as much as 8 percent, helped by vehicle production growth in Asia and North America. Continental climbed 4.6 percent to 56.37 euros.
Credit Suisse Group AG (CSGN) : The second-biggest Swiss bank sold the unit handling backoffice processing for its U.S. and European (SXXP) leveraged-loans business to outsourcing firm UnitedLex for an undisclosed amount. Credit Suisse rose 2.5 percent to 21.52 francs.
Deutsche Boerse AG (DB1) (DB1 GY): The chief executives of the German stock exchange and NYSE Euronext will meet in New York to discuss the European regulators’ opposition to their merger, according to two people with direct knowledge of the matter. Deutsche Boerse gained 4.9 percent to 42.02 euros.
HSBC Holdings Plc (HSBA) : Europe’s largest bank by market value named Jean Beunardeau as chief executive officer of HSBC France, replacing Christophe de Backer, who leaves after 21 years at the bank. HSBC rose 2.7 percent to 504.70 pence.
K+S AG (SDF) (SDF GY): The world’s largest producer of salt reiterated a forecast to sell about 14 million metric tons of de-icing salt this year, after some countries in Europe experienced warmer-than-average winter weather. K+S climbed 4.2 percent to 36.83 euros.
Repsol YPF SA (REP) : Spain’s biggest oil company is selling 61 million of its own shares, offloading half of the 10 percent stake it bought from Sacyr Vallehermoso SA (SYV SM) last month to help the shareholder repay a loan. Repsol gained 1.2 percent to 23.54 euros.
To contact the reporters on this story: Ksenia Galouchko in New York at kgalouchko1@bloomberg.net;
To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net
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