Carl Zeiss Meditec, TUI, Vodafone: European Equity Preview
The following companies’ shares may be active in European (SXXP) trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index lost 0.2 percent to 262.56. The Stoxx 50 Index declined 0.2 percent to 2,484.15. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, slipped 0.1 percent to 2,488.29.
Carl Zeiss Meditec AG (AFX) (AFX GY): The German maker of medical lasers and surgery products was cut to sell from buy at DZ Bank. The stock climbed 7.3 percent to 17.59 euros.
TUI AG (TUI1) (TUI1 GY): The owner of Europe’s largest travel company will further reduce its stake in Hapag-Lloyd AG. Albert Ballin, a Hamburg-based investor group, will buy a 17.4 percent stake in the shipping line from TUI by June 29 for 475 million euros ($624 million). TUI fell 3 percent to 6.21 euros.
Vodafone Group Plc (VOD) : The world’s largest mobile- phone company said it’s “very disappointed” by the U.K. Competition Commission’s decision to bring forward mobile-phone termination rate cuts by one year. The move will harm consumers as it will become unsustainable for operators to “continue subsidizing the high cost of mobile handsets for pay-as-you-go users,” Vodafone said in an e-mailed statement. The shares fell 0.3 percent to 173.9 euros.
To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net
To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net
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