AstraZeneca, Glaxo, Renault, 3i, Total: 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 0.8 percent to 259.12. The Stoxx 50 Index (SX5P) increased 0.6 percent to 2,423.41. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, gained 0.9 percent to 2,344.02.
3i Group Plc (III) : The London-based private equity firm is preparing to sell women’s fashion retailer Hobbs Ltd. for as much as 250 million pounds ($407 million), the Sunday Telegraph reported, without saying where it got the information. The shares rose 3.5 percent to 192.2 pence.
AstraZeneca Plc (AZN) : Departing Chief Executive Officer David Brennan could get as much as 40 million pounds as part of his exit package, the Sunday Times said, without saying where it got the information. The shares rose 0.5 percent to 2,680.5 pence.
Daimler AG (DAI) : The German maker of Mercedes-Benz cars has prepared measures to complicate continued operation at the company in the case of a hostile takeover, Automobilwoche reported, without saying where it got the information. The shares slid 1.5 percent to 41.99 euros.
Heidelberger Druckmaschinen AG (HDD) : Chief Executive Officer Bernhard Schreier sees an end to the years of decline for Germany’s printing-press manufacturers, according to an interview with Welt am Sonntag. The shares rose 2.1 percent to 1.31 euros.
GlaxoSmithKline Plc (GSK) : The pharmaceutical company’s $2.6 billion offer for Human Genome Sciences Inc. (HGSI) “completely undervalues” the company, the Sunday Times said, citing Mark Evans from Taube Hodson Stonex Partners LLP, a fund manager that owns 5.6 percent of the U.S. drugs maker. The shares rose 0.3 percent to 1,423.5 pence.
Renault SA (RNO) : The French carmaker’s joint venture with Dongfeng Motor Group of China could begin producing cars for the world’s largest auto market by the end of 2015, Renault Chief Executive Officer Carlos Ghosn said. The shares gained 3.1 percent to 35.68 euros.
Standard Chartered Plc (STAN) : PIRC, a U.K. corporate governance activist organization, is urging Standard Chartered Plc shareholders to vote against the bank’s remuneration report at its annual general meeting on May 9, the Sunday Telegraph said, citing a copy of PIRC’s recommendations. The shares rose 0.4 percent to 1,523 pence.
Telecom Italia SpA (TIT) : The Italian telecom operator’s largest shareholders will discuss a capital increase for Telco SpA, the company’s controlling vehicle, at a May 3 meeting, Il Sole 24 Ore reported, without saying where it got the information. The shares gained 1.8 percent to 87 euro cents.
Total SA (FP) : Europe’s third-largest oil company said it expects to halt a monthlong natural-gas leak in the North Sea by plugging the well with mud. The shares declined less than 0.1 percent to 36.50 euros.
Wendel (MF) : France’s largest publicly traded investment firm has begun gauging potential interest in Materis SA’s aluminates and admixtures units, valued at a potential 1 billion euros ($1.3 billion) combined, four people with knowledge of the plan said. The shares rose 1.7 percent to 57.86 euros.
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