Distribuidora, Renault, Royal Philips: European Equity Preview
The following companies’ shares may be active in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index fell 2.5 to 218.93. The Stoxx 50 Index declined 2.6 percent to 2,055.05. The Euro Stoxx 50 Index, a benchmark for nations using the euro, slumped 3.8 percent to 1,995.01.
BP Plc (BP/) : Investors developing the Shah Deniz field in the Caspian Sea, led by Europe’s second-largest oil company, plan to make an investment decision this year as the European Union-backed Nabucco pipeline venture seeks to lock in gas purchases, according to Vaqif Aliyev, a vice president at the State Oil Co. of Azerbaijan, or Socar, a partner in the project. The stock fell 0.7 percent to 375.5 pence.
Distribuidora Internacional de Alimentacion SA (DIA SM): The discount food retailer known as Dia said in a regulatory filing it bought back 920,199 of its shares from Sept. 6 to Sept. 12. The stock fell 1.8 percent to 2.91 euros.
Renault SA (RNO) : The carmaker’s chief executive officer, Carlos Ghosn, said he sees European car demand stable “at best” in 2012 because of the “uncertainty” created by the European sovereign debt crisis. The global auto market is expected to grow next year while France’s market continues to decline, Ghosn said in Maubeuge, France. The shares slid 1.7 percent to 23.98 euros.
Royal Philips Electronics NV (PHIA NA): The maker of electronic toothbrushes and patient-monitoring systems is scheduled to host an investor day in London about its lighting and consumer lifestyle businesses and may comment on its outlook. Philips dropped 3.1 percent to 12.23 euros.
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