Fiat, France Telecom, HSBC, Osiatis: 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.
The Stoxx Europe 600 Index rose 1.4 percent to 262.26. The Stoxx 50 Index increased 1.6 percent to 2,551.09. The Euro Stoxx 50 Index (SX5E), a benchmark for nations using the euro, gained 1.7 percent to 2,827.27.
Buzzi Unicem SpA (BZU) : Goldman Sachs Group Inc. cut its price estimate on the stock to 6.50 euros from 8.50 euros previously. The cement maker is scheduled to report first-half earnings. The shares rose 0.4 percent to 8.46 euros.
Fiat SpA (F) : The carmaker’s U.S. unit, Chrysler Group LLC, said its second-quarter loss narrowed to $172 million, benefitting from lower costs and higher U.S. demand, while operating profit climbed. The shares fell 2 percent to 10.01 euros.
France Telecom SA (FTE FP): France’s largest phone company said it’s in talks with the owners of Medi Telecom SA, Morocco’s second-largest mobile operator, as part of its strategy for African expansion. The company has begun discussions with Moroccan investors Groupe CDG and FinanceCom SA that may lead to an “industrial partnership,” France Telecom spokesman Louis-Michel Aymard said. The shares rose 1.2 percent to 16.38 euros.
HSBC Holdings Plc (HSBA) : Lehman Brothers Holdings Inc. and Europe’s biggest bank may be sued over $1.6 billion in worthless securities sold to retail investors, primarily in Hong Kong, a judge in New York ruled. The shares rose 1.4 percent to 670.7 pence.
Innelec Multimedia SA (INN) : The distributor of computer software said first-quarter sales fell to 21.5 million euros from 23.1 million euros and forecast a “slight increase” in full-year sales. The shares gained 0.9 percent to 9.08 euros.
Italcementi SpA (IT) : Goldman Sachs Group Inc. cut its recommendation on the stock to “sell” from “neutral.” The shares gained 0.6 percent to 6.27 euros.
Osiatis (OSA FP): The information technology company said it is buying the infrastructure management business of Groupe Astek. It didn’t give financial terms. The shares advanced 1.5 percent to 4.21 euros.
Maisons France Confort (MFC) : The builder of houses said second-quarter revenue rose to 112.8 million euros from 109.1 million euros. The company sees full-year sales growth of “close to” 10 percent. The shares added 2 percent to 32.44 euros.
Saras SpA (SRS) : The fuel refiner is scheduled to reporter first-half earnings. The shares fell 1.1 percent to 1.49 euros.
Wavin NV (WAVIN NA): Europe’s biggest maker of plastic pipes for sewers said management board member Andy Taylor will leave the company and Maarten Roef has been named to the management board. Wavin added 0.4 percent to 11.10 euros.
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