Banco Popolare, ING, Vinci: 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 1.1 percent to 268.97. The Stoxx 50 Index (SX5P) decreased 1 percent to 2,522.44. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, declined 1.2 percent to 2,576.61.
Assicurazioni Generali SpA (G) : Italy’s biggest insurer said full-year profit decreased by half after writing down the value of Greek bonds and its stake in Telco SpA, the largest investor in Telecom Italia SpA (TIT IM). The shares declined 2.1 percent to 13.17 euros.
Banco Popolare SC (BP) : Italy’s fifth-biggest bank posted a record loss in the fourth quarter after a 2.83 billion euro ($3.8 billion) writedown of goodwill related to its merger with Banca Popolare Italiana in 2007. The shares decreased 1.5 percent to 1.60 euros.
ING Groep NV (INGA) : The biggest Dutch financial- services company said that Chief Executive Officer Jan Hommen and fellow board members won’t get a fixed salary increase in 2012 as Dutch lawmakers strive for stricter pay rules for banks that receive state aid. The shares dropped 2.6 percent to 6.96 euros.
Logica Plc (LOG) : The information technology consulting firm was lowered to hold from buy at S&P. The shares declined 2.5 percent to 101.50 pence.
Mediaset SpA (MS) : The broadcaster controlled by former Italian Prime Minister Silvio Berlusconi cut its dividend after full-year profit dropped more than estimated by analysts on lower advertising sales. The shares increased 0.2 percent to 2.30 euros.
Vinci SA (DG) : The French builder said its 750 million euro issuance of bonds maturing in March 2020 was four times oversubscribed. The shares decreased 1.6 percent to 39.56 euros.
VM Materiaux SA (VMMA) : The French building materials trader reported 2011 earnings per share of 4.24 euros excluding some items, missing the average of two analyst estimates in a Bloomberg survey of 4.95 euros. The shares fell 0.8 percent to 25.80 euros.
To contact the reporter on this story: Joseph Ciolli in New York at firstname.lastname@example.org
To contact the editor responsible for this story:
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.