Banco Bilbao, BP, Fresenius, LVMH, Vinci, Virgin: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses and prices are from the last close.
Acerinox SA (ACX SM): The world’s biggest stainless-steel maker posted a second-quarter profit of 71 million euros as demand and prices increased. The shares gained 1 percent to 13.33 euros.
Air France-KLM Group (AF FP): Europe’s biggest airline reported its first quarterly profit since 2008 on a one-time gain from its stake in flight-reservations provider Amadeus IT Holding SA. Net income was 736 million euros in the three months ended June 30, compared with a year-earlier 426 million-euro loss. The shares fell 0.1 percent to 10.96 euros.
ASM International NV (ASM NA): The second-biggest Dutch maker of chip-production equipment may report second-quarter net income of 22 million euros ($29 million), according to the average of five analyst estimates compiled by Bloomberg. ASM International advanced 0.7 percent to 17.18 euros.
Banco Bilbao Vizcaya Argentaria SA (BBVA SM): Spain’s second-biggest bank may report second-quarter profit fell to 1.23 billion euros, from 1.56 billion euros a year earlier, after Spain’s worst recession in 60 years dented credit demand and drove up lenders’ funding costs, a Bloomberg survey showed. The shares gained 4.8 percent to 10.57 euros.
BG Group Plc (BG/ LN): The U.K.’s third-largest natural-gas producer is scheduled to release second-quarter earnings. The shares fell 0.3 percent to 1,063 pence.
BP Plc (BP/ LN): The oil company said that the U.S. Securities and Exchange Commission is investigating matters related to the Gulf of Mexico oil spill, which caused the price of the stock to drop as much as 50 percent. The stock fell 2.6 percent to 406 pence.
British American Tobacco Plc (BATS LN): The world’s second- largest traded cigarette maker is scheduled to report first-half results. The shares declined 1 percent to 2,259.5 pence.
Centrica Plc (CNA LN): Britain’s biggest energy supplier is due to report first-half earnings. The stock fell 1.5 percent to 307.7 pence.
CSR Plc (CSR LN): The maker of microchips used in Nokia Oyj mobile phones reports first-half earnings. The shares rose 0.9 percent to 414.7 pence.
Deutsche Boerse AG (DB1 GY): Europe’s largest exchange reported second-quarter profit fell 2.5 percent to 160.8 million euros ($208.8 million) as the German company took a one-time charge for restructuring. The profit was higher than the 154.7 million-euro average of six analyst estimates compiled by Bloomberg. The shares rose 0.9 percent to 51.99 euros.
Fresenius SE (FRE3 GY): The German health-care company said first-half net income was 302 million euros, up from 240 million euros a year earlier and “substantially better” than the company expected. Fresenius expects net income to increase by 10 percent to 15 percent in constant currency terms this year. The preferred shares rose 4.3 percent to 55.02 euros.
Inditex SA (ITX SM): The world’s largest clothing retailer and Spanish designer Adolfo Dominguez SA (ADZ SM) may be affected by the publication of Spain’s June retail sales data from the National Statistics Institute. Inditex shares fell 2.5 percent to 52 euros. Adolfo Dominguez rose 1.1 percent to 10.73 euros.
Kabel Deutschland Holding AG (KD8 GY): Germany’s largest cable company ended takeover talks with Tele Columbus GmbH, a smaller German competitor which is seeking to restructure $1.2 billion of debt, two people familiar with the situation said. The shares rose 1.1 percent to 24.73 euros
Luxottica Group SpA (LUX IM): Centrosim raised its recommendation on stock in the world’s largest eyewear maker to “buy” from “sell.” The shares fell 2.4 percent to 20.10 euros.
LVMH Moet Hennessy Louis Vuitton SA (MC FP): The world’s largest luxury-goods manufacturer said first-half net income rose 53 percent to 1.05 billion euros as sales of fashion and leather goods accelerated in the second quarter. The company will pay an interim dividend of 70 cents a share. The stock fell 2.9 percent to 92.26 euros.
Maire Tecnimont SpA (MT IM): The company won a $400 million contract to provide services in Kuwait to the Kuwait National Petroleum Company. The shares rose 0.5 percent to 2.76 euros.
REN-Redes Energeticas Nacionais SA (RENE PL): The operator of Portugal’s electricity and gas networks said first-half profit fell 26 percent to 56.6 million euros. The stock rose 0.4 percent to 2.63 euros.
Rexam Plc (REX LN): The world’s biggest beverage-can maker is scheduled to report first-half earnings. The stock declined 0.9 percent to 340.3 pence.
Ryanair Holdings Plc (RYA ID): Chief Executive Officer Michael O’Leary sold 5 million shares in the low-fare airline company at 3.90 euros each. The shares declined 2.9 percent to 3.84 euros.
St James’s Place Plc (STJ LN): The wealth manager majority owned by Lloyds Banking Group Plc reports first-half earnings. The stock advanced 2.2 percent to 256.4 pence.
Valeo SA (FR FP): France’s second-largest auto-parts maker raised its full-year operating margin forecast after recording a first-half profit of 168 million euros as government-backed incentives spurred auto production. The shares rose 1.1 percent to 25.90 euros.
Vinci SA (DG FP): The world’s biggest builder said second- quarter sales rose 9.6 percent to 8.97 billion euros, helped by the acquisition of Cegelec SA and increased traffic at its toll roads. The company reiterated that revenue will rise in 2010, helped by acquisitions. The shares rose 0.4 percent to 37.69 euros.
Virgin Media Inc. (VMED LN): The U.K.’s second-largest pay- television company is scheduled to report second-quarter earnings. The shares declined 2.5 percent to 1,247 pence.
Wolters Kluwer NV (WKL NA): Europe’s largest tax and legal publisher may report first-half profit excluding some items of 190.9 million euros, the average of eight estimates compiled by Bloomberg. Wolters Kluwer declined 0.9 percent to 15.77 euros.