Banco BPI, BP, Edison SpA, GL Events: European Equity Preview

The following companies’ shares may have unusual moves in European (SXXP) trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index (SXXP) fell 2.7 percent to 258.46. The Stoxx 50 Index (SX5P) lost 2.2 percent to 2,438.65. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, fell 3.4 percent to 2,443.52.

Banco BPI SA (BPI) : Portgual’s fifth-biggest bank announced plans to participate in Greece’s debt restructuring with all of its holding, according to an official. The shares fell 2.6 percent to 0.54 euros.

BP Plc (BP/) : Europe’s second-largest oil firm is interested in adding refining capacity in Asia, Iain Conn, head of refining and marketing, said at the IHS CERA conference. He also said the company will reduce refining in the Atlantic basin, instead focusing on the U.S. midwest due to cheaper oil prices. The company won’t spin off its refining unit, Conn said. The shares dropped 2.9 percent to 490.1 pence.

Edison SpA (EDN) : The Italian electricity and natural gas producer had its credit rating cut to BB+ from BBB- by Standard & Poor’s. The shares declined 1.7 percent to 86 euro cents.

GL Events (GLO) SA: The French provider of event services reported fiscal year 2011 adjusted earnings per share of 1.51 euros ($1.98), beating the average analyst estimate of 1.21 euros. The shares fell less than 0.1 percent to 15.69 euros.

To contact the reporter on this story: Joseph Ciolli in New York at jciolli@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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