Banco Santander, Nestle, Puma: 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 fell 2.3 percent to 251.75. The Stoxx 50 Index (SX5P) decreased 2 percent to 2,377.65. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, lost 2.9 percent to 2,244.83.
Banco Comercial Portugues SA (BCP) : Portgual’s second- biggest publicly traded bank by market value restated its 2011 net loss due to higher impairments related to its Greek government bond holdings after deciding to participate in the country’s debt restructuring. The shares were unchanged at 11 euro cents.
Banco Santander SA (SAN) : Spain’s largest lender has asked investment banks for proposals to list its Mexico unit on the country’s stock exchange in six months to a year, The Wall Street Journal reported on its website. The shares fell 1.5 percent to 4.68 euros.
GDF Suez SA (GSZ) : Price freezes for power and natural gas tariffs in Belgium will hurt the operator of atomic reactors’ earnings, according to Vice-Chairman Jean-Francois Cirelli. About 100 million euros will be shaved from 2012 earnings before interest, taxes, depreciation and amortization, Cirelli said on a conference call today. The shares dropped 2.7 percent to 18.19 euros.
Nestle SA (NESN) : The world’s biggest food company, which agreed to buy Pfizer Inc.’s (PFE) infant-nutrition unit, may sell as much as $1.8 billion of the acquired assets as antitrust concerns in countries such as Mexico force divestitures, according to people with knowledge of the matter. The shares decreased 2.8 percent to 55.50 Swiss francs.
Puma SE (PUM) : The German sporting-goods manufacturer was downgraded to sell from hold at Bankhaus Lampe. The shares declined 0.9 percent to 265 euros.
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