Aperam, Brisa-Auto Estradas, Tullow Oil: 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 0.9 percent to 237.22. The Stoxx 50 Index gained 0.7 percent to 2,266.11. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, advanced 1.4 percent to 2,291.89.
Aperam (APAM NA): The stainless-steel producer spun off by ArcelorMittal reported a third-quarter net loss after it sold less metal and prices fell. The shares rose 0.8 percent to 11.71 euros.
Banco Comercial Portugues SA (BCP) : Portugal’s second- biggest publicly traded bank by market value reported a third- quarter loss on a 21 percent writedown on its Greek debt holdings. The net loss was 29 million euros ($39.9 million), compared with a 54.2 million-euro profit a year earlier. The shares fell 2.2 percent to 13 euro cents.
Brisa-Auto Estradas de Portugal SA (BRI PL): Portugal’s biggest toll-road operator said nine-month profit fell 73 percent after it posted a gain in the same period of last year from the sale of a stake in Brazilian highway operator CCR. The shares surged 6.9 percent to 2.48 euros.
Jardine Lloyd Thompson Group Plc (JLT) : The U.K.’s biggest publicly traded insurance broker said it plans to combine its Italian business with Marine & Aviation SpA with the aim of becoming the leading Italian specialist insurance broker. The London-based company will have a 25 percent stake in the venture and will acquire a 25 percent stake in Marine Aviation & General London Ltd. The shares gained 2.7 percent to 750 pence.
Tullow Oil Plc (TLW) : The London-based explorer with the most licenses in Africa said the Jubilee field in Ghana, the company’s largest project, is pumping about 85,000 barrels of oil a day, 20,000 barrels less than expected. The shares gained 4.5 percent to 1,405 pence.
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