Banco Espirito, JCDecaux, Groupe SEB, Royal DSM: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index rose 1.3 percent to 242.03. The Stoxx 50 Index gained 0.9 percent to 2,298.89. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, jumped 1.4 percent to 2,369.07.
Banco Espirito Santo SA (BES) : Portugal’s biggest publicly traded bank by market value will pay $7 million to resolve U.S. claims that it violated U.S. securities law in selling brokerage services and investment advice. The shares dropped 3.3 percent to 1.51 euros.
JCDecaux SA (DEC) : The world’s largest outdoor advertising company signed an agreement with Presstalis to buy 95 percent of MediaKiosk SAS. The terms of the purchase weren’t disclosed. MediaKiosk manages outdoor advertising space on 746 newsstands in France and had revenue of 26.3 million euros in 2010. JCDecaux advanced 5.2 percent to 19.22 euros.
Royal DSM NV (DSM NA): The world’s largest maker of vitamins plans to cut about 200 jobs and the majority of them will be lost at the Resins unit through natural attrition and vacancies, spokesman Herman Betten said today in an interview. The shares gained 0.5 percent to 37.39 euros.
Groupe SEB SA (SK) : The world’s largest maker of countertop kitchen appliances reported third-quarter revenue rose 8.2 percent on demand for household electrical products. The shares gained 1.9 percent to 59.68 euros.
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