Cofinimmo, Epiq, Fugro, Sportingbet: European Equity Preview
The following companies’ share may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index rose 1.3 percent to 261.18. The Stoxx 50 Index gained 1.5 percent to 2,503.42. The Euro Stoxx 50 Index (SX5E), a benchmark for nations using the euro, advanced 2.1 percent to 2,758.56.
4Energy Invest SA (ENIN) : The Belgian operator of two co-generation plants said it will abandon a project in the U.K. following the withdrawal of partner Pontrilas Group Ltd. As a result, 4Energy will write down capitalized development costs and goodwill for a combined amount of 1.2 million euros. 4Energy advanced 1.5 percent to 2.70 euros.
Allied Irish Banks Plc (ALBK) : The bank said Robert Wilmers resigned from the board, effective immediately. Kieran Crowley indicated his intention to resign from the board on Oct. 13. The shares climbed 0.9 percent to 47.4 euro cents.
Amsterdam Molecular Therapeutics Holding NV (AMT NA): The Dutch developer of treatments for rare genetic disorders plans to raise 15 million euros ($21 million) selling stock in a private placement to help fund development of its lead product Glybera. AMT fell 5 percent to 1.90 euros.
Ascencio SCA (ASC) : The Belgian commercial real-estate investment fund that put a stock sale to existing shareholders on hold last month plans to revive the rights offering as of Oct. 13. Separately, the property fund said it will have to draw about 1.1 million euros from future reserves to maintain its gross dividend at 2.7176 euros a share. Ascencio last traded for 40.62 euros on Oct. 4.
Cofinimmo SA (COFB) : Belgium’s biggest real-estate investment fund said it bought the Prinsenpark rest home in the Belgian city of Genk for 11 million euros in stock and expects a gross rental yield of 6.6 percent on the transaction following a planned 8.2 million-euro expansion next year.
Separately, the property fund said it sold two offices in Brussels for a combined 36.1 million euros. Cofinimmo increased 0.3 percent to 97.70 euros.
Epiq NV (EPI BB): Roland Duchatelet’s Elex NV will reopen its 1.75 euros-a-share takeover offer for the remainder of the Belgian contract maker of electronics starting Oct. 18 after raising its holding to 97.64 percent following a first extension of the offer. Epiq lost 1.8 percent to 1.60 euros.
Fugro NV (FUR) : The world’s largest surveyor of deepwater oil and gas fields said it bought the remaining 30 percent stake it didn’t already own in Canadian unit Fugro Jacques GeoSurveys Inc. for an undisclosed amount. Fugro gained 0.8 percent to 49.28 euros.
National Bank of Belgium (BNB BB): Belgium’s publicly traded central bank said the Brussels appeals court confirmed the bank’s emission right and validated its 2003 profit appropriation in two separate verdicts on Sept. 30, confirming earlier lower-court rulings. The shares dropped 0.5 percent to 3,729.99 euros.
Paref SA (PAR) : The real-estate company raised 4.5 million euros selling shares in a private placement. The shares dropped 0.4 percent to 47.80 euros.
Rio Tinto Plc (RIO) : The world’s third-largest mining company said it hasn’t made any final decisions on its proposed iron-ore joint venture in Western Australia with BHP Billiton Ltd. The stock rose 2.6 percent to 3,792 pence.
Societe Fonciere Lyonnaise (FLY) : The real-estate company hired Bertrand Julien-Laferriere from Unibail-Rodamco SE (UL) to be its chief executive officer after splitting the role from the job of chairman. The shares rose less than 0.1 percent to 35.50 euros. Unibail shares gained 1.3 percent to 164.15 euros.
Societe Generale SA (GLE) : The country’s second-biggest bank said it had “learned its lessons” from the case of Jerome Kerviel and imposed stricter controls. The former trader was sentenced to three years in prison and ordered to repay the bank’s 4.9 billion-euro loss. The shares jumped 3.6 percent to 42.33 euros.
Sportingbet Plc (SBT LN): The online betting company is scheduled to report full-year earnings. The shares were unchanged at 79.2 pence.
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