Glencore, YPF, Rexel, Sage Group: 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 rose 0.3 percent to 254.26. The Stoxx 50 Index (SX5P) increased 0.5 percent to 2,380.28. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, gained 0.4 percent to 2,301.19.
Glencore International Plc (GLEN) (GLEN LN): The world’s largest publicly traded commodities supplier rejected claims that it paid $1.8 million to paramilitaries in Colombia. The company was responding to accusations before they were aired on the British Broadcasting Corp.’s Panorama program. The shares rose 0.2 percent to 400.70 pence.
Repsol YPF SA (REP) : Argentine President Cristina Fernandez de Kirchner announced plans to seize control of that country’s largest oil company YPF SA (YPFD), a unit of Spain’s Repsol YPF. The government sent a bill to Congress to take a 51 percent stake in YPF SA, Fernandez said. Repsol YPF shares increased less than 0.1 percent to 17.48 euros.
Rexel SA (RXL) : The electrical-equipment distributor increased the size of a bond sale to $500 million from $400 million. The shares increased 0.6 percent to 15.27 euros.
Sage Group Plc (SGE) : The U.K.’s largest software maker was downgraded to hold from buy at Panmure Gordon & Co. The shares declined 0.5 percent to 286.40 pence.
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: Nick Baker at email@example.com