EDP, Fiat, Parmalat, Sacyr, UniCredit: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index fell 0.5 percent to 280.50. The Stoxx 50 Index declined 0.7 percent to 2,619.16. The Euro Stoxx 50 Index (SX5E), a benchmark for nations using the euro, slipped 0.8 percent to 2,894.60.
Ackermans & van Haaren NV (ACKB BB), Cie. d’Entreprises CFE SA (CFEB BB): Dredging Environmental & Marine Engineering NV, the dredging company co-owned by Ackermans and CFE, said its Australian joint venture with Van Oord Groep NV won a contract valued at about $580 million for the development of the Gladstone liquefied-natural-gas project. Ackermans was little changed at 70 euros. CFE fell 3 percent to 55 euros.
Carrefour SA (CA) : The world’s second-largest retailer said it obtained an initial nod from Spanish stock-market authorities for the listing of its Dia hard-discount chain. The shares added 0.3 percent to 30.61 euros.
EDP-Energias de Portugal SA (EDP PL): The biggest power company in Portugal said in a regulatory filing it may sell a stake of as much as 14 percent of its Brazilian unit in a public offering. The stock rose 0.61 percent to 2.62 euros.
Fiat SpA (F) : Chairman John Elkann said the Italian carmaker wants to open a headquarters in Asia to go along with those it already has in Europe, North America and Brazil. “We hope to do more in Asia where today we don’t have a satisfying presence,” he said at a conference outside Siena, Italy. Fiat shares fell 0.6 percent to 7.1 euros.
Floridienne SA (FLOB) : The Belgian investment company with holdings in the food, chemical and biotechnology industries will pay off all net debt by the end of the year with proceeds from the February sale of a stake in MCP Group SA, Le Soir said, citing Chief Executive Officer Gaetan Waucquez. Floridienne was unchanged at 143.70 euros.
Fondiaria-SAI SpA (FSA IM): The Italian insurer said its first-quarter net loss narrowed to 24.9 million euros ($35.2 million) from 92.3 million euros a year ago, while premiums fell 15 percent to 2.99 billion euros.
Stock market regulator Consob also ruled that UniCredit SpA (UCG) won’t have to make a full takeover bid for the company after entering into a shareholder agreement with Premafin Finanziaria SpA, the insurers’ controlling shareholder. Fondiaria shares fell 3.9 percent to 6 euros.
Klepierre (LI) SA: Europe’s second-largest shopping-center owner ruled out acquisitions and is betting on internal growth, Investir said, citing Chief Executive Officer Laurent Morel. The shares slipped 0.2 percent to 27.62 euros.
Parmalat SpA (PLT) : Intesa Sanpaolo SpA (ISP) Chief Executive Officer Corrado Passera has ruled out a counterbid for Parmalat, he said near Siena, Italy. A financing package for Groupe Lactalis’s bid for the dairy company is “not on the table,” he said. Parmalat fell 0.2 percent to 2.63 euros.
Renta Corporacion Real Estate SA (REN) : The Spanish real estate company said in a regulatory filing its losses were 4.9 million euros in the first quarter compared with 1.7 million euros a year earlier. The stock rose 1.9 percent to 1.33 euros.
Rolls-Royce Group Plc (RR/) : Daimler AG and Rolls-Royce Group Plc submitted their 2.4 billion-euro ($3.4 billion) offer for Tognum AG in writing and may hear as soon as today whether the German engine-maker’s management backs the increased bid, according to people familiar with the matter. Rolls-Royce shares gained 1.2 percent to 648 pence.
Sacyr Vallehermoso SA (SYV SM): The Spanish builder is seeking to refinance 4.9 billion euros of loans used to buy a stake in Repsol YPF SA (REP) , El Economista said, citing Chief Financial Officer Fernando Lacadena. The shares declined 0.8 percent to 7.9 euros.
SEB SA (SK) : The world’s largest maker of countertop kitchen appliances bought control of Vietnam’s Asia Fan for an undisclosed sum, SEB said in an e-mailed statement. The shares declined 0.7 percent to 73.55 euros.
Southern Cross Healthcare Plc (SCHE LN): The company that runs 750 care homes for the elderly in the U.K. may sell or close some of its care homes and give its landlords a share in the business in return for rent cuts, the Sunday Times reported, without citing anyone. The shares surged 25 percent to 10.63 pence.
Spyker Cars NV (SPYKR NA): China Youngman Automobile Group Co. is frontrunner for a deal with Saab Automobile, the Swedish carmaker owned by Spyker Cars, Dagens Industri said, citing unidentified sources. Spyker Cars fell 1.2 percent to 3.55 euros.
Sofina SA (SOF) : Toshiba Corp. is near an agreement to buy Landis+Gyr AG, the Swiss electronic-metering company in which Sofina holds a 9.94 percent stake, for more than $2 billion, according to two people who declined to be identified because the details are private. Sofina climbed 1.3 percent to 72.17 euros.
UniCredit SpA (UCG IM): Italy’s biggest bank may provide financing for Groupe Lactalis’s bid to purchase the shares it doesn’t own in Parmalat SpA, Chief Executive Officer Federico Ghizzoni told reporters. UniCredit shares rose 1.8 percent to 1.7 euros.
Vodafone Group Plc (VOD) : The world’s biggest mobile-phone operator and Verizon Communications Inc. will this week announce a partnership to sell their services, the Sunday Times reported, without citing anyone. The shares retreated 0.1 percent to 167.55 pence.
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