Abengoa, Porsche, Peugeot, Xstrata: Europe Equity Preview
Shares of the following companies may have unusual moves in European (SXXP) trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index (SXXP) retreated 0.3 percent to 263.86. The Stoxx 50 Index (SX5P) fell 0.2 percent to 2,481.16. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, declined 0.4 percent to 2,513.06.
Abengoa SA (ABG) : Net income for the Seville-based company, which develops solar thermal power plants, jumped last year, exceeding analysts’ estimates by 22 percent as sales from its engineering and construction division surged. Abengoa gained 2.1 percent to 14.88 euros.
Porsche SE (PAH3) (PAH3 GY): The sportscar maker said Thomas Edig has stepped down from the management board at his own request and with the approval of the supervisory board. Philipp Alexander Edward von Hagen will replace Edig as head of commercial and administrative affairs on the board after March 1. Porsche rallied 3.1 percent to 50.07 euros.
PSA Peugeot Citroen (UG) : The French carmaker may announce as soon as this week plans to sell a stake of about 7 percent to General Motors Co. as part of a development alliance, people familiar with the matter said. Peugeot fell 3.5 percent to 15.31 euros.
Xstrata Plc (XTA) : The world’s largest exporter of thermal coal received unanimous consent from lenders to waive a so-called change-of-control provision on its $6 billion revolving credit facility. The shares lost 1 percent to 1,203 pence.
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