The following companies’ shares may have unusual moves in European (SXXP) trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index rose 2 percent to 259.45. The Stoxx 50 Index (SX5P) increased 2 percent to 2,427.91. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, gained 2.9 percent to 2,367.05.
Delticom AG (DEX) : The German online tire dealer said earnings before interest and taxes declined to 3.4 million euros ($4.5 million) in the first quarter from 5.9 million euros a year earlier as a lack of snow sapped demand for winter tires. The shares gained 3.1 percent to 76.50 euros.
Ferrovial SA (FER) : Edinburgh airport, owned by the Madrid-based company’s BAA Ltd. unit, has attracted two bids as the deadline for offers expires, two people familiar with the sale said. The airport is the biggest in Scotland with a value estimated at 600 million pounds ($955 million). The shares increased 2 percent to 8.33 euros.
Nestle SA (NESN) : Pfizer Inc. (PFE US) is close to selling its infant-nutrition unit to the world’s largest food company for $9 billion, the Wall Street Journal reported, citing people familiar with the deal. Nestle rose 1.3 percent to 56.75 Swiss francs.
Repsol YPF SA (REP) : Argentine Deputy Economy Minister Axel Kicillof told lawmakers that the country will rely on “solid data” to value its takeover of crude producer YPF SA and not use estimates from Madrid-based parent Repsol. Kicillof also said the unit’s 2011 profit won’t be used for dividends and will probably be reinvested. Repsol shares dropped 6.1 percent to 16.42 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: Nick Baker at email@example.com