Electricite de France, ICAP, UniCredit: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses, and prices are from the previous close.
The Stoxx Europe 600 Index rose 0.2 percent to 271.38. The Stoxx 50 Index gained less than 0.1 percent to 2,554.63. The Euro Stoxx 50 Index, a benchmark for nations using the euro, fell 0.5 percent to 2,769.96.
Banca Monte dei Paschi di Siena SpA (BMPS IM): The global financial crisis had a limited effect on Italian banks, though some lenders must “quickly strengthen” their finances in order to reduce the weight of bad loans on their books and be ready “to comply with new capital requirements,” Bank of Italy Governor Mario Draghi said at a press conference in Rome. Monte dei Paschi, the world’s oldest bank, declined 1.5 percent to 88 euro cents.
Electricite de France SA (EDF FP): Europe’s biggest power generator will retain its Italian investments after announcing the sale of a stake in a German utility, Chief Executive Officer Henri Proglio said on a conference call. Proglio declined to comment on whether the French utility is seeking to raise its stake in Edison SpA, Italy’s largest power producer. EDF shares climbed 0.6 percent to 31.81 euros.
Entrepose Contracting (ENTC FP): The oil and gas contractor said it signed an 83 million-euro agreement with Societe Nationale de Distribution des Petroles for the construction of a liquefied petroleum gas storage center in Tunisia. The shares rose 3.5 percent to 93 euros.
ICAP Plc (IAP LN): IPGL Ltd. said its wholly-owned subsidiary, INCAP Finance BV, agreed to sell 6 million shares in the world’s biggest interdealer broker by means of an institutional placing to be conducted by HSBC Bank Plc. The shares rose 1.8 percent to 528 pence.
UniCredit SpA (UCG IM): Italy’s biggest bank is managing the sale of 1.32 million shares of Austrian holding company RHI AG, according to terms of the deal obtained by Bloomberg News. UniCredit fell 2.8 percent to 1.65 euros.
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