Air France, Allied Irish, Dane-Elec: European Equity Preview
Shares of the following companies may have unusual moves in European trading. Stock symbols are in parentheses, and prices are from the previous close.
The Stoxx Europe 600 Index gained 0.3 percent to 281.99. The Stoxx 50 Index climbed 0.6 percent to 2,688.71. The Euro Stoxx 50 Index, a benchmark for nations using the euro, increased 0.3 percent to 2,979.06.
Air France-KLM Group (AF FP): France’s largest airline said the findings of a safety report commissioned after the 2009 Rio de Janeiro-Paris air disaster showed no departures from rules. The shares rose 1.1 percent to 13.65 euros.
Allied Irish Banks Plc (ALBK ID): The Dublin-based lender is buying back about 2 billion euros ($2.7 billion) of subordinated bonds at a 70 percent discount as it seeks to raise money as a cushion against losses. Repurchasing the dollar, euro and pound-denominated notes will add about 1.4 billion euros to the core Tier 1 capital the bank holds, Allied Irish said in a statement. The shares fell 1.5 percent to 0.265 euros.
Anheuser-Busch InBev NV (ABI BB): The world’s largest brewer plans to sell at least $1 billion of U.S. dollar- denominated debt, according to a person familiar with the transaction. The five-year notes may yield 90 basis points more than similar-maturity Treasuries, the 10-year debt may pay a spread of 105 basis points and the three-year floating-rate notes may yield 55 basis points more than the three-month London interbank offered rate. AB InBev rose 0.8 percent to 41.36 euros.
Dane-Elec Memory SA (DAN FP): The distributor of computer memory devices said 2010 revenue fell to 158.1 million euros from 180.2 million, and said it’s exiting the hard disk business. The shares were unchanged at 93 euro cents.
Fornix BioSciences NV (FORBI NA): The Dutch maker of medical aids is scheduled to give a trading update before the market opens. Fornix fell 3.3 percent to 2.65 euros.
Games Workshop Group Plc (GAW LN): The U.K. maker of Warhammer battle games is due to report first-half earnings. The shares fell 1.4 percent to 350 pence.
Greencore Group Plc (GNC ID): The Dublin-based foodmaker said a merger with Northern Foods Plc would be expected to comprise annual synergies of about 15 million pounds from overhead cost savings, about 20 million pounds from purchasing and supply chain improvements, and about 5 million pounds from financing and tax efficiencies. The shares plunged 5.5 percent to 1.137 euros.
HAL Trust (HAL NA): HAL Holding NV, the investment firm owned by HAL Trust, said net asset value increased 25 percent last year to 5.87 billion euros ($8.01 billion), or 89.83 euros a share, and plans to raise its annual dividend to 3.75 euros a share. HAL Trust gained 0.3 percent to 99.04 euros.
Intermediate Capital Group Plc (ICP LN): The London-based provider of loans for leveraged buyouts is scheduled to report first-half earnings. The stock gained 1.4 percent to 342.8 pence.
Intesa Sanpaolo SpA (ISP IM): Chief Executive Officer Corrado Passera plans to speak a t a conference in Milan. The stock added 1.25 cents, or 0.5 percent, to 2.42 euros.
Luxottica Group SpA (LUX IM): The world’s biggest maker of eyewear confirmed its profit target for 2010 as fourth-quarter revenue rose 16 percent to 1.35 billion euros ($1.9 billion). That compared with the average 1.29 billion-euro estimate of five analysts in a Bloomberg survey. The stock increased 27 cents, or 1.2 percent, to 22.47 euros.
Misys Plc (MSY LN): The U.K. provider of software for the financial and health-care industries is due to report first-half earnings. The company may report net income of 19.9 million pounds according to the average of two estimates compiled by Bloomberg. The shares fell 2.2 percent to 332.4 pence.
Premafin Finanziaria SpA (PF IM): Shareholders of Fondiaria-SAI SpA’s (FS IM) largest investor are scheduled to hold an extraordinary meeting to approve a capital increase. Premafin declined 0.65 cents, or 0.9 percent, to 74.6 cents. Fondiaria fell 2.5 cents, or 0.4 percent, to 6.88 euros.
PZ Cussons Plc (PZC LN): The U.K. maker of Imperial Leather soap is scheduled to report first-half earnings. The stock advanced 2.5 percent to 379.2 pence.
Vodafone Group Plc (VOD LN): Gerard Kleisterlee, chief executive officer of Royal Philips Electronics NV, is the front- runner among candidates being considered for the post of chairman at Vodafone Group Plc, the Financial Times reported, citing people familiar with the situation. The shares gained 1.3 percent to 177.9 pence.
Vranken-Pommery Monopole (VRAP FP): The champagne maker said full year revenue rose to 364.4 million euros from 269.8 million. The shares dropped 0.3 percent to 33.90 euros.
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