Breaking News

Citigroup to Take Pretax Settlement Charge of About $3.8B in Second Quarter
Tweet TWEET

Bayer, Carrefour, Vodafone: 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) rose 1.8 percent to 269.56. The Stoxx 50 Index (SX5P) increased 1.7 percent to 2,527.18. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, gained 1.7 percent to 2,556.82.

Bayer AG (BAYN) (BAYN GY): The largest German drugmaker won’t yield to pressure from investors to sell its plastics businesses, Boersen-Zeitung reported, citing an interview with Chief Executive Officer Marijn Dekkers. The shares increased 1.2 percent to 55.63 euros.

Carrefour SA (CA) : The world’s second-largest retailer had its long-term issuer default rating and senior unsecured rating cut to BBB from BBB+ by Fitch Ratings, which cited the company’s “weak” trading performance in 2011. The shares gained 2.4 percent to 19.04 euros.

Vodafone Group Plc (VOD) : The world’s largest mobile- phone operator issued $1 billion of five-year, 1.625 percent bonds. The shares rose 0.2 percent to 170.75 pence.

Voestalpine AG (VOE) : Austria’s biggest steelmaker set aside 205 million euros ($268 million) in reserves for risks stemming from antitrust proceedings pertaining to its TSTG Schienen Technik GmbH subsidiary, and said it will close the unit by year-end, as it is no longer economically viable. The shares increased 3 percent to $26.67.

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.